Annual Report 2019

ANNUAL REPORT 2019 231 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 March 2019 30. CREDITORS AND ACCRUALS 2019 2018 HK$’000 HK$’000 Trade creditors – Construction cost and retention payable 939,681 883,501 – Others 122,873 100,306 1,062,554 983,807 Construction cost and retention payable for capital assets 36,038 69,453 Rental deposits and rental receipts in advance 73,728 85,104 Other payable and accrued charges 359,258 587,115 1,531,578 1,725,479 The following is an aged analysis of the trade creditors, based on the invoice date: 2019 2018 HK$’000 HK$’000 0–60 days 1,005,701 894,855 61–90 days 13,502 16,541 Over 90 days 43,351 72,411 1,062,554 983,807 31. CONTRACT LIABILITIES 2019 2018 HK$’000 HK$’000 (note) Sales of properties 974,166 1,520,096 Note: The amount in this column is after the adjustment from the application of HKFRS 15. An amount of HK$1,204,973,000 was recognised as revenue for the year ended 31 March 2019. The Group receives an amount ranging from 5% to 20% of the contract value as deposits from customers when they sign the sale and purchase agreement. The amount is expected to be settled within the Group’s normal operating cycle and is classified as current based on the Group’s earliest obligation to transfer the properties to customers.