Annual Report 2019

ANNUAL REPORT 2019 167 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 March 2019 2. APPLICATION OF NEW AND AMENDMENTS TO HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRSs”) (continued) Impacts on opening consolidated statement of financial position arising from the application of all new standards As a result of the changes in the accounting policies above, the opening consolidated statement of financial position had to be restated. Line items that were not affected by the changes have not been included. 31 March 2018 HKFRS 15 HKFRS 9 1 April 2018 HK$’000 HK$’000 HK$’000 HK$’000 (Audited) Non-current Assets Investment securities – Available-for-sale investments 13,564 – (13,564) – – Equity securities at FVTPL – – 12,876 12,876 Current Assets Properties for sale – Properties under development 10,094,565 (593,789) – 9,500,776 Debtors, deposits and prepayments 522,674 – 688 523,362 Contract costs – 281,807 – 281,807 Investment securities – Available-for-sale investments 146,423 – (146,423) – – Investments held for trading 3,319,556 – (3,319,556) – – Debt instruments at FVTPL – – 2,814,832 2,814,832 – Financial assets designated at FVTPL 40,500 – (40,500) – – Structured deposits – – 40,500 40,500 – Equity securities at FVTPL – – 62,218 62,218 – Investment funds – – 588,929 588,929 Current Liabilities Customers’ deposits received 1,936,950 (1,936,950) – – Contract liabilities – 1,520,096 – 1,520,096 Non-current Liability Deferred tax liabilities 583,186 16,026 – 599,212 Capital and Reserves Retained profits 7,351,270 85,714 – 7,436,984 Non-controlling interests 173,070 3,132 – 176,202 Except as disclosed above, the application of other new HKFRSs and amendments to HKFRSs in the current year has had no material effect on the amounts reported and/or disclosures set out in these consolidated financial statements.