Investor Presentaiton
HKAS 1.51(a)
HKAS 1.49
HKAS 1.77
HK Listco Ltd
Financial statements for the year ended 31 December 2023
(ii) Reconciliation to the consolidated statement of financial position
Net deferred tax asset in the consolidated statement of financial position
Net deferred tax liability in the consolidated statement of financial
position
2023
$'000
2022
$'000
(restated)
(2,539)
(3,495)
19,194
13,850
16,655
10,355
HKAS 12.81(e)
HKAS 12.81(f)
& 87
(c)
(d)
Deferred tax assets not recognised
In accordance with the accounting policy set out in note 1(y), the group has not recognised deferred
tax assets in respect of cumulative tax losses of $3,560,000 (2022: $2,480,000) as it is not probable
that future taxable profits against which the losses can be utilised will be available in the relevant tax
jurisdiction and entity. The tax losses do not expire under current tax legislation.
Deferred tax liabilities not recognised
At 31 December 2023, temporary differences relating to the undistributed profits of subsidiaries
amounted to $793,000 (2022: $640,000). Deferred tax liabilities of $238,000 (2022: $192,000) have
not been recognised in respect of the tax that would be payable on the distribution of these retained
profits as the company controls the dividend policy of these subsidiaries and it has been determined
that it is probable that these profits will not be distributed in the foreseeable future.
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