gb annual report

THE GIRLS' BRIGADE HONG KONG

2 0 0 7 - 2 0 0 8 A N N U A L R E P O R T

20

07

-2

00

8

2

3

4

4

5-6

6

6

7-8

9-10

11

12

13

14-15

16-20

21

22

1 2

The G i r l s ' B r igade Hong Kong 2007-2008 Annua l Repor t 1 2

(TheGirls' Brigade,GB)

20

07

-2

00

8

2/4/200727/8/2007

16/12/2007

15/12/2007 9/7/200721/10/2007

1/11/2007 1/2/200831/3/2008

2/8/2007 1/9/2007 1/1/2008

21/11/2007 3/3/2008

15/12/2007 1/1/2007

11/6/200731/8/2007

3 4

The G i r l s ' B r igade Hong Kong 2007-2008 Annua l Repor t

200845GB GB GB GB835

45200745 7.1 41415 GB

3 4

20

07

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1. 7.1

2. 2007452007200782545

3. 2007GB

4. GBGB2008216

1 12/5/2007

2 200745 25/8/2007

3 200745 4/11/2007

1 12/4/2007-29/4/2007

2 45 6-8/2007

3 7.1 1/7/2007

4 1/7/2007

5 15/7/2007

6 3/8/2007

7 30/8/2007

8 1/9/2007-30/9/2007

9 2007 2/11/2007

10 3/12/2007-6/12/2007

11 16/2/2008

12 1/3/2008

5 6


1 0607 25/2/2007-15/4/2007

2 2007 1/4/2007-30/11/2007

3 -51 4/5/2007-1/6/2007

4 27/5/2007

5 0708 16/6/2007-21/7/2007

6 0708 17/7/2007-14/8/2007

7 0708 25/7/2007-8/8/2007

8 (OTC2_0708) 27/10/2007-8/12/2007

9 -69 7/12/2007

10 20/1/2008

11 26/1/2008

1 MEM 4/4/2007

2 13/8/2007-15/8/2007

3 30/11/2007-2/12/2007

1 175167 23/6/2007

2 fun1014173764 19/8/2007

3 606773 20/12/2007

1 2007GB 13/10/2007

2 GB 16/2/2008

5 6

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2007-08

20

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2007

2

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34

39

40

45

50

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68

70

70


2007/2008 241 16%

481 32%

274 18%

445 29%

42 3%

36 2%

1519 100%

2007/2008

13 5%

32 12%

35 13%

44 16%

69 24%

41 15%

26 10%

13 5%

273 100%

16%

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29%

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32%

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11 12

20

07

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/

2 9 10 14 17 20 21 22 27 28 29 30 31 32 33 34 35 36 37 38 40 43 44 45 46 46B 50 51 52 54 55 56 57 58 59 60 61 64 65 67 67B 68 69 70 71 73

07/08

/


ChanChunChanKaManChanLokYanChanSiuHungChimChingChingChimShaShaHuenKaLaiCarrieKanLaiOiLinLauShuetLingLauSiuNam,DerekLawrenceK.L.YickLeungLamHoiLincolnLeungOnFookLeungTungYingLoYuetFungNgHonYingNgLaiChu.AmyPaulineTsoiSiuKaKitSUNCHIATSENBEVERLYTseChuiYingTsoiChingNiWongHinKeung

MelocityMusicLeraningCenterMidlandHoldingsLtd.TopstandDevelopmentLTD91421273233374667

2007GB

13 14

GBWalk2007

37 $19,400.00

37

15.38

33 37

216

54 52

46B 46

14 38

54 1425

1427

14

1412

1426

67

1419

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20

07

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8

15 16

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15 16

1

IND

EPE

ND

EN

T A

UD

ITO

RS

RE

POR

T

TO T

HE

ME

MB

ER

S O

F T

HE

GIR

LS

BR

IGA

DE

HO

NG

KO

NG

(inco

rpor

ated

in H

ong

Kon

g w

ith li

mite

d lia

bilit

y by

gua

rant

ee

and

not h

avin

g a

shar

e ca

pita

l) W

e ha

ve a

udite

d th

e fin

anci

al s

tate

men

ts o

f Th

e G

irls

Brig

ade

Hon

g K

ong

set

out

on p

ages

5 t

o 18

, w

hich

co

mpr

ise

the

bala

nce

shee

t as

at M

arch

31,

200

8, a

nd th

e in

com

e st

atem

ent,

stat

emen

t of

chan

ges

in e

quity

and

ca

sh f

low

sta

tem

ent

for

the

year

the

n en

ded,

and

a s

umm

ary

of s

igni

fican

t ac

coun

ting

polic

ies

and

othe

r ex

plan

ator

y no

tes.

Com

mitt

ee m

embe

rs r

espo

nsib

ility

for

the

finan

cial

stat

emen

ts

The

com

mitt

ee m

embe

rs a

re r

espo

nsib

le f

or th

e pr

epar

atio

n an

d th

e tru

e an

d fa

ir pr

esen

tatio

n of

thes

e fin

anci

al

stat

emen

ts in

acc

orda

nce

with

Hon

g K

ong

Fina

ncia

l Rep

ortin

g St

anda

rds

issu

ed b

y th

e H

ong

Kon

g In

stitu

te o

f C

ertif

ied

Publ

ic A

ccou

ntan

ts.

This

res

pons

ibili

ty i

nclu

des

desi

gnin

g, i

mpl

emen

ting

and

mai

ntai

ning

int

erna

l co

ntro

l re

leva

nt t

o th

e pr

epar

atio

n an

d th

e tru

e an

d fa

ir pr

esen

tatio

n of

fin

anci

al s

tate

men

ts t

hat

are

free

fro

m

mat

eria

l mis

stat

emen

t, w

heth

er d

ue to

frau

d or

err

or; s

elec

ting

and

appl

ying

app

ropr

iate

acc

ount

ing

polic

ies;

and

m

akin

g ac

coun

ting

estim

ates

that

are

reas

onab

le in

the

circ

umst

ance

s. A

udito

rs r

espo

nsib

ility

O

ur r

espo

nsib

ility

is to

exp

ress

an

opin

ion

on th

ese

finan

cial

sta

tem

ents

bas

ed o

n ou

r au

dit.

We

cond

ucte

d ou

r au

dit i

n ac

cord

ance

with

Hon

g K

ong

Stan

dard

s on

Aud

iting

issu

ed b

y th

e H

ong

Kon

g In

stitu

te o

f Cer

tifie

d Pu

blic

A

ccou

ntan

ts. T

hose

sta

ndar

ds re

quire

that

we

com

ply

with

eth

ical

requ

irem

ents

and

pla

n an

d pe

rfor

m th

e au

dit t

o ob

tain

reas

onab

le a

ssur

ance

as t

o w

heth

er th

e fin

anci

al st

atem

ents

are

free

from

mat

eria

l mis

stat

emen

t.

An

audi

t in

volv

es p

erfo

rmin

g pr

oced

ures

to

obta

in a

udit

evid

ence

abo

ut t

he a

mou

nts

and

disc

losu

res

in t

he

finan

cial

sta

tem

ents

. The

pro

cedu

res

sele

cted

dep

end

on th

e au

dito

rs ju

dgm

ent,

incl

udin

g th

e as

sess

men

t of

the

risks

of

mat

eria

l m

isst

atem

ent

of t

he f

inan

cial

sta

tem

ents

, whe

ther

due

to

frau

d or

err

or. I

n m

akin

g th

ose

risk

asse

ssm

ents

, th

e au

dito

r co

nsid

ers

inte

rnal

con

trol

rele

vant

to

the

entit

ys

prep

arat

ion

and

true

and

fair

pres

enta

tion

of t

he f

inan

cial

sta

tem

ents

in

orde

r to

des

ign

audi

t pr

oced

ures

tha

t ar

e ap

prop

riate

in

the

circ

umst

ance

s, bu

t not

for t

he p

urpo

se o

f exp

ress

ing

an o

pini

on o

n th

e ef

fect

iven

ess o

f the

ent

itys

inte

rnal

con

trol.

An

audi

t al

so i

nclu

des

eval

uatin

g th

e ap

prop

riate

ness

of

acco

untin

g po

licie

s us

ed a

nd t

he r

easo

nabl

enes

s of

ac

coun

ting

estim

ates

mad

e by

the

com

mitt

ee m

embe

rs,

as w

ell

as e

valu

atin

g th

e ov

eral

l pr

esen

tatio

n of

the

fin

anci

al st

atem

ents

. W

e be

lieve

that

the

audi

t evi

denc

e w

e ha

ve o

btai

ned

is s

uffic

ient

and

app

ropr

iate

to p

rovi

de a

bas

is fo

r our

aud

it op

inio

n.

Opi

nion

In o

ur o

pini

on th

e fin

anci

al st

atem

ents

giv

e a

true

and

fair

view

of t

he st

ate

of th

e as

soci

atio

ns a

ffairs

as a

t Mar

ch

31,

2008

and

of

its d

efic

it an

d ca

sh f

low

s fo

r th

e ye

ar t

hen

ende

d in

acc

orda

nce

with

Hon

g K

ong

Fina

ncia

l R

epor

ting

Stan

dard

s and

hav

e be

en p

rope

rly p

repa

red

in a

ccor

danc

e w

ith th

e H

ong

Kon

g C

ompa

nies

Ord

inan

ce.

Tyro

ne C

hiu

C.P

.A. L

imite

d C

ertif

ied

Publ

ic A

ccou

ntan

ts

Lau

Wai

Min

g Pr

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tific

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g K

ong

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R T

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YE

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DE

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AR

CH

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2007

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ittee

Mem

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on

June

200

8

____

____

____

____

____

__

___

____

____

____

____

____

___

Cha

irman

H

onor

ary

Trea

sure

r

The

Not

es o

n Pa

ges 9

to 1

8 fo

rm a

n in

tegr

al p

art o

f the

se fi

nanc

ial s

tate

men

ts.

4

TH

E G

IRL

S B

RIG

AD

E H

ON

G K

ON

G

FIN

AN

CIA

L ST

ATE

ME

NT

S FO

R T

HE

YE

AR

EN

DE

D M

AR

CH

31,

200

8 N

OT

ES

TO T

HE

FIN

AN

CIA

L ST

ATE

ME

NT

S FO

R T

HE

YE

AR

EN

DE

D M

AR

CH

31,

200

8 1.

G

EN

ER

AL

INFO

RM

ATIO

N

T

he G

irls

Brig

ade

Hon

g K

ong

(

)

(t

he a

ssoc

iatio

n)

is in

corp

orat

ed in

Hon

g K

ong

unde

r th

e C

ompa

nies

Ord

inan

ce. T

he l

iabi

lity

of t

he m

embe

rs i

s lim

ited

by g

uara

ntee

. The

add

ress

of

its

regi

ster

ed o

ffice

is lo

cate

d at

Uni

t 1, G

/F, K

o C

hi H

ouse

, Ko

Yee

Esta

te, Y

au T

ong,

Kow

loon

. The

act

iviti

es

of T

he G

irls

Brig

ade

are

orga

nizi

ng p

rogr

ams

and

train

ings

for

the

girls

to b

ecom

e fo

llow

ers

of th

e Lo

rd

Jesu

s Chr

ist,

and

thro

ugh

self-

cont

rol,

reve

renc

e an

d a

sens

e of

resp

onsi

bilit

y, to

find

true

enr

ichm

ent o

f life

.

2.

ST

ATE

ME

NT

OF

CO

MPL

IAN

CE

WIT

H H

ON

G K

ON

G F

INA

NC

IAL

RE

POR

TIN

G S

TAN

DA

RD

S

Th

e as

soci

atio

ns

finan

cial

sta

tem

ents

hav

e be

en p

repa

red

in a

ccor

danc

e w

ith a

ccou

ntin

g pr

inci

ples

gen

eral

ly

acce

pted

in

Hon

g K

ong,

tha

t in

clud

e H

ong

Kon

g Fi

nanc

ial

Rep

ortin

g St

anda

rds

(HK

FRSs

) an

d th

e di

sclo

sure

req

uire

men

ts o

f th

e H

ong

Kon

g C

ompa

nies

Ord

inan

ce.

A s

umm

ary

of p

rinci

pal

acco

untin

g po

licie

s is s

et o

ut in

not

e 3.

3.

SUM

MA

RY

OF

SIG

NIF

ICA

NT

AC

CO

UN

TIN

G P

OL

ICIE

S

Bas

is of

pre

para

tion

of th

e fin

anci

al st

atem

ents

Th

e m

easu

rem

ent b

asis

use

d in

pre

parin

g th

e fin

anci

al st

atem

ents

is h

isto

rical

cos

t con

vent

ion.

P

rope

rty,

pla

nt a

nd e

quip

men

t

Prop

erty

, pl

ant

and

equi

pmen

t ar

e sta

ted

in t

he b

alan

ce s

heet

at

cost

less

acc

umul

ated

dep

reci

atio

n an

d ac

cum

ulat

ed im

pairm

ent l

oss,

if an

y.

Dep

reci

atio

n is

cal

cula

ted

to w

rite

off t

he c

ost o

f ite

ms

of p

rope

rty, p

lant

and

equ

ipm

ent,

less

thei

r est

imat

ed

resi

dual

val

ue, i

f any

, on

a st

raig

ht-li

ne b

asis

ove

r the

ir es

timat

ed u

sefu

l liv

es a

s fol

low

s:

Leas

ehol

d im

prov

emen

ts

: 4

year

s Fu

rnitu

re a

nd fi

xtur

es

:

4 ye

ars

Th

e re

sidu

al v

alue

and

the

usef

ul li

fe o

f an

asse

t are

revi

ewed

at l

east

at e

ach

finan

cial

yea

r-end

. Th

e A

ssoc

iatio

n as

sess

es a

t eac

h re

porti

ng d

ate

whe

ther

ther

e is

any

indi

catio

n th

at a

ny it

ems

of p

rope

rty,

plan

t and

equ

ipm

ent m

ay b

e im

paire

d an

d th

at a

n im

pairm

ent l

oss

reco

gnis

ed in

prio

r pe

riods

for

an

item

m

ay h

ave

decr

ease

d. I

f an

y su

ch in

dica

tion

exis

ts, t

he A

ssoc

iatio

n es

timat

es th

e re

cove

rabl

e am

ount

of

the

item

. An

impa

irmen

t los

s, be

ing

the

amou

nt b

y w

hich

the

carr

ying

am

ount

of a

n as

set o

r a c

ash-

gene

ratin

g un

it ex

ceed

s its

rec

over

able

am

ount

, or

a re

vers

al o

f im

pairm

ent l

oss

is r

ecog

nise

d im

med

iate

ly in

inco

me

and

expe

nditu

re a

ccou

nt.

Gai

n or

los

s ar

isin

g fr

om t

he d

e-re

cogn

ition

of

an i

tem

of

prop

erty

, pl

ant

and

equi

pmen

t is

inc

lude

d in

in

com

e an

d ex

pend

iture

acc

ount

whe

n th

e ite

m is

der

ecog

nise

d an

d is

det

erm

ined

as

the

diffe

renc

e be

twee

n th

e ne

t dis

posa

l pro

ceed

s, if

any,

and

the

carr

ying

am

ount

of t

he it

em.


17 18

6

TH

E G

IRL

S B

RIG

AD

E H

ON

G K

ON

G

FIN

AN

CIA

L ST

ATE

ME

NT

S FO

R T

HE

YE

AR

EN

DE

D M

AR

CH

31,

200

8 N

OT

ES

TO T

HE

FIN

AN

CIA

L ST

ATE

ME

NT

S FO

R T

HE

YE

AR

EN

DE

D M

AR

CH

31,

200

8

3.

SU

MM

AR

Y O

F SI

GN

IFIC

AN

T A

CC

OU

NT

ING

PO

LIC

IES

(CO

NT

INU

ED

)

Acc

ount

rec

eiva

bles

, dep

osits

and

pre

paym

ents

(con

tinue

d)

Acc

ount

rec

eiva

bles

, de

posi

ts a

nd p

repa

ymen

ts a

re i

nitia

lly m

easu

red

at f

air

valu

e an

d, a

fter

initi

al

reco

gniti

on, a

t am

ortis

ed c

ost l

ess i

mpa

irmen

t los

ses f

or b

ad a

nd d

oubt

ful d

ebts

. Sh

ort-t

erm

rec

eiva

bles

with

no

stat

ed in

tere

st r

ate

and

the

effe

ct o

f di

scou

ntin

g be

ing

imm

ater

ial,

that

are

m

easu

red

at th

eir o

rigin

al in

voic

e am

ount

less

impa

irmen

t los

ses f

or b

ad a

nd d

oubt

ful d

ebt,

if an

y.

At e

ach

bala

nce

shee

t dat

e, th

e A

ssoc

iatio

n as

sess

es w

heth

er th

ere

is a

ny o

bjec

tive

evid

ence

that

a re

ceiv

able

or

gro

up o

f re

ceiv

able

s is

impa

ired.

Im

pairm

ent l

osse

s on

oth

er r

ecei

vabl

es a

nd a

mou

nts

due

from

rel

ated

pa

rties

are

rec

ogni

sed

in i

ncom

e an

d ex

pend

iture

acc

ount

whe

n th

ere

is o

bjec

tive

evid

ence

tha

t an

im

pairm

ent

loss

has

bee

n in

curr

ed a

nd a

re m

easu

red

as t

he d

iffer

ence

bet

wee

n th

e re

ceiv

able

s c

arry

ing

amou

nt a

nd th

e pr

esen

t val

ue o

f est

imat

ed fu

ture

cas

h flo

ws (

excl

udin

g fu

ture

cre

dit l

osse

s tha

t hav

e no

t bee

n in

curr

ed)

disc

ount

ed a

t its

orig

inal

effe

ctiv

e in

tere

st r

ate,

i.e.

the

effe

ctiv

e in

tere

st r

ate

com

pute

d at

initi

al

reco

gniti

on.

R

ecei

pt in

adv

ance

, acc

ount

pay

able

s and

acc

rual

s R

ecei

pt i

n ad

vanc

e, a

ccou

nt p

ayab

les

and

accr

uals

are

ini

tially

mea

sure

d at

fai

r va

lue

and,

afte

r in

itial

re

cogn

ition

, at

amor

tised

cos

t, ex

cept

for

sho

rt-te

m p

ayab

les

with

no

stat

ed i

nter

est

rate

and

the

effe

ct o

f di

scou

ntin

g be

ing

imm

ater

ial,

that

are

mea

sure

d at

thei

r orig

inal

invo

ice

amou

nt.

4.

C

RIT

ICA

L A

CC

OU

NT

ING

EST

IMAT

ES

AN

D J

UD

GE

ME

NT

The

Ass

ocia

tion

s m

anag

emen

t mak

es a

ssum

ptio

ns, e

stim

ates

and

judg

men

ts in

the

proc

ess

of a

pply

ing

the

Ass

ocia

tion

s ac

coun

ting

polic

ies

that

affe

ct t

he a

sset

s, lia

bilit

ies,

inco

me

and

expe

nses

in

the

finan

cial

st

atem

ents

pre

pare

d in

acc

orda

nce

with

HK

FRSs

. The

ass

umpt

ions

, est

imat

es a

nd ju

dgm

ents

are

bas

ed o

n hi

stor

ical

exp

erie

nce

and

othe

r fac

tors

that

are

bel

ieve

d to

be

reas

onab

le u

nder

the

circ

umst

ance

s. W

hile

the

man

agem

ent r

evie

ws

thei

r jud

gmen

ts, e

stim

ates

and

ass

umpt

ions

con

tinuo

usly

, the

act

ual r

esul

ts w

ill s

eldo

m

equa

l to

the

estim

ates

. K

ey e

stim

ates

and

ass

umpt

ions

that

hav

e a

sign

ifica

nt r

isk o

f ca

usin

g a

mat

eria

l adj

ustm

ent t

o th

e ca

rryi

ng

amou

nts o

f ass

ets a

nd li

abili

ties w

ithin

the

next

fina

ncia

l per

iod

are

set o

ut a

s fol

low

s:

Dep

reci

atio

n of

pro

perty

, pla

nt a

nd e

quip

men

t Pr

oper

ty, p

lant

and

equ

ipm

ent a

re d

epre

ciat

ed o

n a

stra

ight

-line

bas

is o

ver t

heir

estim

ated

use

ful l

ives

, afte

r ta

king

into

acc

ount

the

estim

ated

resid

ual v

alue

. The

Ass

ocia

tion

asse

sses

ann

ually

the

resi

dual

val

ue a

nd th

e us

eful

life

of t

he p

rope

rty, p

lant

and

equ

ipm

ent a

nd if

the

expe

ctat

ion

diffe

rs fr

om th

e or

igin

al e

stim

ates

, suc

h di

ffere

nces

fro

m t

he o

rigin

al e

stim

ates

will

im

pact

the

dep

reci

atio

n ch

arge

s in

the

per

iod

in w

hich

the

es

timat

es c

hang

e.

5

TH

E G

IRL

S B

RIG

AD

E H

ON

G K

ON

G

FIN

AN

CIA

L ST

ATE

ME

NT

S FO

R T

HE

YE

AR

EN

DE

D M

AR

CH

31,

200

8 N

OT

ES

TO T

HE

FIN

AN

CIA

L ST

ATE

ME

NT

S FO

R T

HE

YE

AR

EN

DE

D M

AR

CH

31,

200

8

3.

SUM

MA

RY

OF

SIG

NIF

ICA

NT

AC

CO

UN

TIN

G P

OL

ICIE

S(C

ON

TIN

UE

D)

R

even

ue r

ecog

nitio

n

Sale

s are

reco

gnis

ed w

hen

good

s are

del

iver

ed a

nd ti

tle h

as b

een

pass

ed.

D

ues

and

fees

com

pris

e su

bscr

iptio

ns f

ee i

ncom

e an

d pr

ogra

m f

ee i

ncom

e. S

ubsc

riptio

ns f

ee i

ncom

e is

re

cogn

ized

in th

e pe

riod

to w

hich

they

rela

ted.

Pro

gram

fee

inco

me

is re

cogn

ized

whe

n th

e re

leva

nt s

ervi

ces

are

prov

ided

.

Subv

entio

ns a

re re

cogn

ized

as i

ncom

e ov

er th

e pe

riods

nec

essa

ry to

mat

ch th

em w

ith th

e re

late

d co

sts.

B

ank

inte

rest

inc

ome

is a

ccru

ed o

n a

time

prop

ortio

n ba

sis,

taki

ng i

nto

acco

unt

the

prin

cipa

l am

ount

s ou

tsta

ndin

g an

d th

e in

tere

st ra

tes a

pplic

able

.

Don

atio

n an

d su

bven

tion

rece

ived

are

reco

gniz

ed u

pon

rece

ipts

of d

onat

ion

and

subv

entio

n.

Prog

ram

inco

me

is re

cogn

ized

whe

n th

e re

leva

nt se

rvic

es a

re p

rovi

ded.

O

pera

ting

leas

es

Leas

e pa

ymen

ts u

nder

an

oper

atin

g le

ase

are

reco

gnis

ed a

s an

exp

ense

on

a st

raig

ht-li

ne b

asis

ove

r the

leas

e te

rm.

C

ontin

gent

rent

s are

cha

rged

as a

n ex

pens

e in

the

perio

ds in

whi

ch th

ey a

re in

curr

ed.

Cas

h an

d ca

sh e

quiv

alen

ts

Cas

h co

mpr

ises

cas

h on

han

d an

d at

ban

k an

d de

man

d de

posi

ts w

ith b

ank.

Cas

h eq

uiva

lent

s ar

e sh

ort-t

erm

, hi

ghly

liqu

id in

vest

men

ts th

at a

re re

adily

con

verti

ble

to k

now

n am

ount

s of

cas

h an

d w

hich

are

sub

ject

to a

n in

sign

ifica

nt ri

sk o

f cha

nges

in v

alue

. Fo

r the

pur

pose

of c

ash

flow

stat

emen

t, ba

nk o

verd

rafts

whi

ch a

re re

paya

ble

on d

eman

d fo

rm a

n in

tegr

al p

art

of th

e Ass

ocia

tion

s cas

h m

anag

emen

t are

incl

uded

as a

com

pone

nt o

f cas

h an

d ca

sh e

quiv

alen

ts.

Gov

ernm

ent G

rant

s G

over

nmen

t gra

nts

from

org

aniz

ing

prog

ram

s an

d tra

inin

gs f

or th

e gi

rls a

re r

ecog

nize

d as

inco

me

over

the

perio

ds n

eces

sary

to

mat

ch t

hem

with

the

rel

ated

cos

ts a

nd a

re c

redi

ted

to t

he i

ncom

e an

d ex

pend

iture

ac

coun

t whe

n re

cogn

ized

.

E

mpl

oyee

Ben

efits

(i)

Sa

larie

s an

d pa

id a

nnua

l lea

ve a

re a

ccru

ed in

the

perio

d in

whi

ch th

e as

soci

ated

ser

vice

s ar

e re

nder

ed

by e

mpl

oyee

of

the

asso

ciat

ion.

Whe

re p

aym

ent

of s

ettle

men

t is

def

erre

d an

d th

e ef

fect

wou

ld b

e m

ater

ial,

thes

e am

ount

s are

stat

ed a

t pre

sent

val

ue.

(ii)

Con

tribu

tions

to M

anda

tory

Pro

vide

nt F

unds

as

requ

ired

unde

r the

Hon

g K

ong

Man

dato

ry P

rovi

dent

Fu

nd S

chem

es O

rdin

ance

are

cha

rged

to th

e in

com

e an

d ex

pend

iture

acc

ount

s.

In

vent

orie

s

Inve

ntor

ies

whi

ch c

ompr

ise

badg

es a

nd s

ouve

nir a

re s

tate

d at

the

low

er o

f cos

t and

net

real

izab

le v

alue

, afte

r m

akin

g du

e al

low

ance

for a

ny o

bsol

ete

or sl

ow m

ovin

g ite

ms.

Cos

t is a

rriv

ed a

t by

refe

renc

e to

the

supp

liers

in

voic

ed c

ost a

nd is

ass

igne

d to

indi

vidu

al it

em o

n w

eigh

ted

aver

age

cost

bas

is.

20

07

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00

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the

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r re

mun

erat

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for

serv

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as

a c

omm

ittee

mem

ber o

f the

Ass

ocia

tion

(200

7: N

il).

7.

IN

CO

ME

TA

X

No

Hon

g K

ong

prof

its ta

x ha

s be

en p

rovi

ded

in th

e fin

anci

al s

tate

men

ts a

s th

e as

soci

atio

n is

regi

ster

ed a

s a

char

itabl

e in

stitu

tion

unde

r sec

tion

88 o

f the

Inla

nd R

even

ue O

rdin

ance

(200

7: N

il).

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E G

IRL

S B

RIG

AD

E H

ON

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ON

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FIN

AN

CIA

L ST

ATE

ME

NT

S FO

R T

HE

YE

AR

EN

DE

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AR

CH

31,

200

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OT

ES

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HE

FIN

AN

CIA

L ST

ATE

ME

NT

S FO

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AR

EN

DE

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AR

CH

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200

8 8.

PR

OPE

RT

Y, P

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NT

AN

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QU

IPM

EN

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ease

hold

Im

prov

emen

tFu

rnitu

re a

nd

Fixt

ures

To

tal

H

K$

HK

$

HK

$

C

ost:

At A

pril

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21 22

:385-690623-883

:385-776265-883

1.

2.

*

The G i r l s ' B r igade Hong Kong 2007-2008 Annua l Repor t 21 22

[email protected] www.gbhk.org.hk

A MEMBER AGENCY OF THE COMMUNITY CHEST

gb annual report

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