114
115
BAKER TECHNOLOGY LIMITED ANNUAL REPORT 2012
BAKER TECHNOLOGY LIMITED ANNUAL REPORT 2012
8. Profit before tax
The following items have been included in arriving at profit before tax:
Group
2012
2011
$
$
Depreciation of property, plant and equipment
1,413,853 1,716,588
Consultancy service fee paid/payable to directors
187,110
187,110
Finance costs:
Interest expense on bank overdrafts
–
10
Finance charges payable under finance leases
–
20,611
Loans and borrowings
121,913
–
Inventories written-down
–
3,300
Operating lease expenses
1,137,891
721,201
Employee benefit expense (including executive directors):
- Contributions to defined contribution plans
564,874
439,213
- Salaries, wages, bonuses and other costs
7,914,876 6,780,772
Audit fees paid to:
- Auditors of theCompany
178,666
168,595
Non-audit fees paid to:
- Auditors of theCompany
5,992
7,693
- Other auditors
62,145
48,000
Legal and other professional fees *
1,322,082 4,336,100
*
Included in legal and other professional fees is an amount of $131,783 (2011: $1,167,784) paid to a firm inwhich a director of the
Company is a director.
9. Income tax expense
(a)
Major components of income tax expense
Themajor components of income tax expense for the years ended 31December are:-
Group
2012
2011
$
$
Statement of comprehensive income :
Current income tax:
- Current income taxation
3,600,000 3,086,000
- Underprovision in respect of prior years
–
71,918
3,600,000 3,157,918
Deferred income tax:
- Origination and reversal of temporary difference (Note 16)
(241,249)
(173,465)
- (Over)/underprovision in respect of prior years
(150,751)
14,465
(392,000)
(159,000)
Income tax expense recognised in the
statement of comprehensive income
3,208,000 2,998,918
for the financial year ended 31december 2012
for the financial year ended 31december 2012
notestothe
financialstatements
notestothe
financialstatements
