Page 48 - GROUP 3 NAKED HOTEL LIMITED ANNUAL REPORT
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24. Deferred Taxation
2016 2015
$‘000 $‘000
Opening Balance 16,895 18,421
Adjustment during the year 278 (1,526)
Closing balance payable 17,173 16,895
25. Corporation Tax Payable
2016 2015
$’000 $’000
Corporation tax payable 39,509 33,713
Less: Tax credit (1,625) (12)
37,884 33,701
26. Provision
A couple made a complaint in writing on December 27, 2016 about the poor quality of their
room. On December 30, 2016, the President of Naked Hotel Limited made a verbal commitment
to provide a room for two nights free of cost to the couple during the Winter Season. The current
cost per night in the Winter Season for a similar room is J$26,000. The couple plan to return to
the hotel in March 2017.
2016 2015
$’000 $’000
Provision to couple for two nights 52 0
27. Gain on Disposal of Asset
2016 2015
$'000 $'000 $'000 $'000
Equipment Selling Price 239 0
Equipment Cost 580 0
less Accumulated Depreciation (348) 0
Carrying Value (232) 0
Gain 7 0
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