135 / 148
3. Changes in accounting policies
The HKICPA has issued a number of amendments to HKFRSs that are first effective for the current accounting period of
the Company. The adoption of these amendments to standards does not have any material impact on the Company’s
financial statements.
The Company has not applied any new standard or amendment that is not effective for the current accounting period.
4. Profit before taxation
Auditor’s remuneration of $55,000 (2015: $55,000) and all other expenses of the Company which were incurred for
the administering of the Trust of $466,223 (2015: $503,448) for the year have been borne by HK Electric Investments
Limited, which has waived its right of recovery thereof.
Except for the above, the Company did not incur any administrative expenses during the year (2015: Nil).
5. Income tax
No provision for Hong Kong Profits Tax has been made in the financial statements for the current and prior years as the
Company did not have any assessable profits.
6. Directors’ emoluments
No fees or other emoluments were paid or payable by the Company to the Directors for the current and prior years.
7. Amount due from immediate holding company
Amount due from immediate holding company is unsecured, interest-free and repayable on demand.
8. Share capital
2016
2015
Number of
shares
$
Number of
shares
$
Ordinary shares, issued and fully paid:
At 1 January and 31 December
1
1
1
1
In accordance with section 135 of the Hong Kong Companies Ordinance, the ordinary shares of the Company do not
have a par value.
2016 ANNUAL REPORT
135