Annual Report 2016 - page 192

New World Development Company Limited
178
Financial Section
41 Creditors and Accrued Charges
2016
2015
HK$m
HK$m
Trade creditors (note (a))
7,980.1
11,088.1
Amounts due to customers for contract work (note 34)
1,592.3
850.3
Deposits received on sale of properties
9,828.7
12,603.6
Amounts due to joint ventures (note (b))
1,897.7
2,061.5
Amounts due to associated companies (note (b))
180.3
250.4
Other creditors and accrued charges
16,711.8
13,751.6
38,190.9
40,605.5
Notes:
(a)
Aging analysis of trade creditors based on invoice date is as follows:
2016
2015
HK$m
HK$m
Current to 30 days
5,496.4
8,869.1
31 to 60 days
894.3
670.7
Over 60 days
1,589.4
1,548.3
7,980.1
11,088.1
(b)
The amounts payable are interest free, unsecured and have no fixed terms of repayment.
(c)
The carrying amounts of creditors and accrued charges, which approximate their fair values, are denominated in the following
currencies:
2016
2015
HK$m
HK$m
Hong Kong dollar
17,254.1
20,128.5
Renminbi
19,964.6
19,490.5
United States dollar
556.5
553.3
Macau Pataca
273.7
231.6
Others
142.0
201.6
38,190.9
40,605.5
42 Financial Instruments by Category
In accordance with HKFRS 7, the financial assets and financial liabilities of the Group as shown in the consolidated
statements of financial position are classified as follows:
(a)
Financial assets at fair value through profit or loss and derivative financial instruments are categorised as financial
assets at fair value through profit or loss and carried at fair value;
(b)
Available-for-sale financial assets are categorised as available-for-sale financial assets and carried at fair value;
(c)
Held-to-maturity investments are categorised as held-to-maturity investments and carried at amortised cost using the
effective interest method;
(d)
Long-term receivables, long-term deposits, restricted bank deposits, trade and other debtors, and cash and bank
balances are categorised as loans and receivables and carried at amortised cost using the effective interest method;
and
(e)
Borrowings, trade and other creditors are categorised as financial liabilities and carried at amortised cost using the
effective interest method. Derivative financial instruments are categorised as financial liabilities at fair value through
profit or loss and carried at fair value.
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