Page 88 -

Notes to the Consolidated Financial Statements

31st March 2016

32 BALANCE SHEET OF THE COMPANY (CONTINUED)

Note (a)
Reserves movement of the Company

Capital Staff
Share redemption Contributed compensation Retained
premium reserve surplus reserve earnings Total
HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000
At 1st April 2014 310,651 940 40,586 11,783 635,220 999,180
Comprehensive income
Profit for the year – – – – 126,703 126,703

Transactions with owners
2015 interim dividend – – – – (17,381) (17,381)
2014 final dividend – – – – (23,175) (23,175)
Repurchase of the Company’s own shares (977) 72 – – (72) (977)
Total transactions with owners (977) 72 – – (40,628) (41,533)
At 31st March 2015 309,674 1,012 40,586 11,783 721,295 1,084,350

At 1st April 2015 309,674 1,012 40,586 11,783 721,295 1,084,350
Comprehensive income
Profit for the year – – – – 427,686 427,686

Transactions with owners
2016 special dividend – – – – (347,621) (347,621)
2016 interim dividend – – – – (34,762) (34,762)
2015 final dividend – – – – (57,937) (57,937)
Total transactions with owners – – – – (440,320) (440,320)

At 31st March 2016 309,674 1,012 40,586 11,783 708,661 1,071,716

Note:

The contributed surplus of the Company, which arose from a corporate reorganisation in November 1992, represents the difference between
the nominal value of the Company’s shares issued in exchange for the issued ordinary shares of Alco Investments (B.V.I.) Limited and the
value of net assets of the underlying subsidiaries acquired as at 6th November 1992. Under the Companies Act 1981 of Bermuda (as
amended), a company may not declare or pay a dividend, or make a distribution out of contributed surplus, if there are reasonable grounds
for believing that (i) the company is, or would after the payment be, unable to pay its liabilities as they become due; or (ii) the realisable value
of the company’s assets would thereby be less than the aggregate of its liabilities and its issued share capital and share premium accounts.
Otherwise the contributed surplus is distributable.

86 ALCO HOLDINGS LIMITED ANNUAL REPORT 2016