British Columbia is a Numbered Company – 552513 British Columbia Ltd.


552513 British Columbia Ltd.
Notes to the Financial Statements
(tabular amounts in $000)
March 31,2006
3. Nature of Business
5525 13 British Columbia Ltd., (the “Corporation”) was incorporated on October 21,
1997 under the laws of British Columbia and is wholly owned by the Province of
British Columbia.
The Corporation is exempt from federal and provincial income taxes.
2. Significant Accounting Policies
The financial statements have been prepared in accordance with Canadian generally
accepted accounting principles. Significant accounting policies followed in the
preparation of these financial statements are:
a) Use of estimates
The preparation of financial statements in conformity with Canadian generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts and disclosure of assets and
liabilities at the date of the financial statements. Actual results could differ from
these estimates.
b) Related party transactions
The Corporation is related through common ownership to all Province of British
Columbia ministries, agencies and Crown corporations. Transactions with these
entities, unless disclosed separately in these financial statements, are generally
considered to be in the normal course of operations and are recorded at the
exchange amount.
The Ministry of Economic Development provides general administrative services
to the Corporation at no cost. The cost of this support is not material and has not
been recorded in these financial statements.
3. Share Capital
The Corporation has authorized capital of 1,000,000 common shares with no par
value. The Minister of Economic Development holds the one common share
issued as representative of Her Majesty the Queen in right of the Province of
British Columbia.

British Columbia Ltd.

EXEMPTION REGULATION 27/2002 – Quickscribe Services Ltd

EXEMPTION REGULATION 27/2002 – Quickscribe Services Ltd

 

 

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