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Again under taxation, TOBAGC transfer assets at Tax Written Down Value (TWDV).
This will create a temporary timing difference on a financial reporting point of view, namely on the Motor Vehicle.
TWDV = 100K
MV at NBV = 267K
Taxable temporary difference = 167K (resulting in Deferred tax @ Corporate Tax rates)
Possibly, you should apply IFRS 3 and create a goodwill equal to the deferred tax (since the other items are transferred at TWDV).
Property, plant and equipment
The CC should review its motor vehicle’s remaining useful life. Logically, it would be less than the useful life under the trading.
Other than that, everything else looks okay.