Annual Report 2021

160 Notes to the Financial Statements Annual Report 2021 Miramar Hotel and Investment Company, Limited 17 Trade and other payables, rental deposits received and contract liabilities 2021 2020 HK$’000 HK$’000 Trade and other payables Trade payables 24,945 33,274 Other payables and accrued charges 201,644 187,871 Amounts due to holders of non-controlling interests of subsidiaries (see note (i)) 72,622 72,475 Amounts due to associates (note (ii)) 4,278 4,289 303,489 297,909 Rental deposits received 99,306 76,729 Contract liabilities (note (iii)) 58,146 75,276 Notes: (i) Amounts due to the holders of non-controlling interests of subsidiaries are unsecured, interest-free and have no fixed terms of repayment. (ii) Amounts due to associates are unsecured, interest-free and repayable on demand. (iii) The revenue recognised during the year included in the contract liabilities balance at the beginning of the year amounted to HK$75,276,000 (2020: HK$181,898,000). All of the trade and other payables are expected to be settled within one year or are repayable on demand. Included in trade and other payables are trade payables with the following ageing analysis, based on the invoice date, as at the end of the reporting period: 2021 2020 HK$’000 HK$’000 Due within 3 months or on demand 15,374 2,356 Due after 3 months but within 6 months 9,571 30,918 24,945 33,274