Page 31 - Preservation for the Documentation of Chinese Christianity
P. 31
HONG KONG CHRISTIAN COUNCIL
NOTES TO ACCOUNTS - DECEMBER 31, 1972
1. ACCOUNTING POLICIES
(a) Depreciation of fixed assets is calculated on the reducing
balance basis at 10 per cent per annum, which is consistent
with previous years. The amount provided for the year has
been charged to plant fund.
(b) Foreign currency balances have been converted into Hong
Kong dollars at approximately the rates ruling at December
31, 1972.
2. GENERAL FUND
Balance at January 1, 1972 19,334
Add:
Funds transferred
Christian Centre 37,〇4 2
Christian Centre maintenance 48,839
Ecumenical library 21,261
107,142
Excess of income over expenditure
for the year 57,887
184,363
Deduct:
Audit fee paid for 1971 200
f
Loss of unds during the year 127,790
127,990
Balance at December 31， 1972 S 56,373
3. STAFF PROVIDENT FUND
Balance at January 1, 1972
8,339
Add:
Contributions during the year 4 ,311
12,650
Deduct:
Loss of funds during the year 1 1 , 1 6 7
Balance at December 31, 1972 $ 1 ,483
The loss of funds arose as a result of a defalcation during the
year.
