83
TEHO INTERNATIONAL INC LTD.
Annual Report 2016
NOTES
TO THE FINANCIAL STATEMENTS
Year ended 30 June 2016
21 FINANCE INCOMEAND FINANCE COSTS
Group
Note 2016
2015
$
$
Finance income:
Interest income
(7,038)
(2,741)
Finance costs:
Interest expense
1,603,450 1,679,104
Less: Amount capitalised in development properties 10 (281,800)
(431,894)
Less: Amount recoverable from former shareholders
of a subsidiary
(a)
– (428,494)
1,321,650 818,716
Net finance costs
1,314,612 815,975
(a) This amount is recoverable from the former shareholders of a subsidiary which
was acquired by the Group and arose from provisions in the sale and purchase
agreement relating to the acquisition that allow the Group to recover certain
project costs that exceeded the agreed budget.
22 LOSS FORTHEYEAR
The following items have been included in arriving at loss for the year:
Group
2016
2015
$
$
Allowance for impairment on trade receivables
228,246 464,728
Allowance for foreseeable loss on development properties
74,300 788,108
Amortisation of intangible assets
521,000 521,000
Audit fees paid to:
- auditors of the Company
254,951
246,000
- other auditors
51,654
34,698
Non-audit fees paid to:
- auditors of the Company
28,150 19,500
- other auditors
–
–
Bad debts written off
213,836
–
Depreciation
1,716,870 1,560,991
Fair value gain on derivatives
(319,477)
(16,283)
Foreign exchange losses, net
46,752 758,293
Gain on disposal of property, plant and equipment
(1,449,790)
(40,830)
Impairment loss on goodwill
16,931,227 2,209,048
Impairment loss on investment in associates
113,654
53,625
Impairment loss on investment property
1,637,368
–
Loss on disposal of an associate
–
8,636
Land rental
451,888 278,730
Net fair value gain on contingent consideration payable
– (194,076)
Operating lease expenses
1,226,046 1,024,328
