SINGAPORE WINDSOR HOLDINGS LIMITED
| Annual Report 2015
59
Year ended 31 March 2015
NOTES TO THE
FINANCIAL STATEMENTS
11. Loss from discontinued operations, net of tax (cont’d)
11B. Disposal of discontinued operations
On 4 December 2013 the management entered into an agreement to sell subsidiary Windsor Manganese Limited
held through Windsor Holding Investments Limited, the manufacture and sale of silicon manganese division. The
sale was completed on 7 March 2014.
The results for the reporting year from the discontinued operation and the results for the previous reporting year
and for the period from the beginning of the reporting year to 7 March 2014, which have been included in the
consolidated financial statements, were as follows:
Group
At date of
disposal in
2014
Year ended
31/03/2013
HK$’000
HK$’000
Cost of sales
(7,970)
(9,740)
Other items of income
Interest income
–
49
Other credits
1,160
–
Other items of expense
Distribution costs
–
(65)
Administrative expenses
(4,113)
(4,782)
Finance costs
(64)
(495)
Other charges
–
(19,250)
Loss before tax
(10,987)
(34,283)
Income tax
–
–
Loss after tax before disposal loss
(10,987)
(34,283)
Loss on disposal of subsidiary
(85,465)
Total loss on discontinued operations
(96,452)
A loss of HK$85,464,583 arose on the disposal of subsidiary Windsor Manganese Limited, being the consideration
receivable on disposal less the carrying amount of the subsidiary’s net assets and attributable to goodwill.
