TUNG LOK RESTAURANTS (2000) LTD / Annual Report
2016
81
Notes to the financial statements
For the financial year ended 31 March 2016
22.
Trade payables
Group
2016
2015
$
$
Outside parties
3,332,065 3,625,988
Related parties
30,343
34,308
Total
3,362,408 3,660,296
The average credit period on purchase of goods is 45 days (2015: 60 days).
23.
Other payables
Group
Company
2016
2015
2016
2015
$
$
$
$
Other payables (current)
Dividends payable to non-controlling shareholders of
subsidiaries (a)
30,000
272,000
–
–
Advances from a corporate shareholder of the Company (b)
44,480
133,320
–
–
Refundable security deposits
380,154
395,109
–
–
Deferred revenue (c)
1,554,082 1,643,662
–
–
Accrued expenses (d)
5,737,378 5,721,594
195,550
216,458
A related party (e)
14,129
12,858
–
–
Financial guarantee contracts (f)
–
–
366,352
452,675
Purchase of property, plant and equipment
34,169
463,221
–
–
Others (g)
1,316,633 1,505,041
859
2,178
Total
9,111,025 10,146,805
562,761
671,311
Other payables (non-current)
Advances from a corporate shareholder of the Company
(b)
–
44,480
–
–
Advances from corporate shareholders of subsidiaries (b)
2,634,561 2,789,442
–
–
Accrued expenses (d)
1,582,258 1,420,289
–
–
Total
4,216,819 4,254,211
–
–
Total other payables
13,327,844 14,401,016
562,761
671,311
(a)
Dividends were declared to non-controlling shareholders of subsidiaries which remained unpaid as at 31 March.
(b)
The advances from corporate shareholders of the Company and subsidiaries are unsecured and interest-free.
Current advances are repayable on demand and non-current advances have an average repayment term of 5
years.