Page 8 - 德望學校（家長教師會22期）

PROJECT / PROGRAMME INCOME AND EXPENSES

Surplus
Income Expenses /(Defi cit)
2018 HK$ HK$ HK$

Annual general meeti ng - (7,257) (7,257)

Cleaning fee 20,760 (2,000) 18,760
Flu vaccinati on 90,925 (71,875) 19,050
Graduati on pin design competi ti on &produc-
ti on 9,000 (18,000) (9,000)
Music and talent show dinner 13,600 (43,002) (29,402)
Parent meeti ng - - -
Parent seminar - (6,927) (6,927)

PTA annual dinner - - -
Sport team annual gathering 12,740 (40,013) (27,273)
T&L kit sales 37,930 (19,871) 18,059
Thank-you lunch 12,500 (28,839) (16,339)

197,455 (237,784) (40,329)

Note:
On 17 December 2016, the Associati on co-organised a fund-raising dinner with Good Hope School for
financing re-development of Delia’s Wing at Good Hope School. Consequently, the Association trans-
ferred the net donati on of HK$859,287 to Good Hope School aft er taking into account the aggregate net
income of HK$933,221 received and the related catering and other expenses of HK$73,934 paid for such
fund-raising dinner.

TAX
The Associati on is a regarded as a charitable organisati on and therefore is exempt from Hong Kong Prof-
its Tax under Secti on 88 of the Hong Kong Inland Revenue Ordinance. Accordingly, no provision for Hong
Kong Profi ts Tax has been made in the fi nancial statements (2017: Nil).

No provision for deferred tax has been made as there should be no future tax consequences (2017: Nil).

CASH AND CASH EQUIVALENTS

2018 2017
HK$ HK$

Cash at bank 875,331 772,008
Cash on bank 432 9

875,763 772,017

8