TUNG LOK RESTAURANTS (2000) LTD / Annual Report
2016
68
Notes to the financial statements
For the financial year ended 31 March 2016
13.
Other receivables and prepayments
Group
Company
2016
2015
2016
2015
$
$
$
$
Other receivables and prepayments (current)
Dividend receivable from subsidiaries
–
–
70,000
728,000
Other receivables from third parties
408,158
236,036
2,083
1,821
Advances to an associate
275,000
–
–
–
Other receivables from a related party
2,296,615 2,263,231
–
–
Less: Allowance for doubtful debts – A related party
(2,296,615)
(2,263,231)
–
–
Subtotal
683,158
236,036
72,083
729,821
Prepayments
439,364
380,610
5,635
5,100
Income tax recoverable
30,803
73,759
–
–
Total
1,153,325
690,405
77,718
734,921
Other receivables and prepayments (non-current)
Advances to associates
365,540
641,383
–
–
Advance payment of capital expenditures
364,584
–
–
–
Prepayments
169,141
–
–
–
Total
899,265
641,383
–
–
Total other receivables and prepayments
2,052,590 1,331,788
77,718
734,921
Analysis of other receivables
Not past due and not impaired
1,048,698
877,419
72,083
729,821
The advances to associates are unsecured and interest-free. Current advances are repayable on demand and non-
current advances have an average repayment term of 5 years.
Other receivables from a related party and corresponding allowance pertains to shareholder loans to a subsidiary that
was de-consolidated following the completion of the disposal during the previous financial year as described in Note
16(C). The amount is interest free, unsecured and repayable on demand.
