Annual Report 2019

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2019 120 The United Laboratories International Holdings Limited Annual Report 2019 25. TRADE AND BILLS RECEIVABLES, OTHER RECEIVABLES, DEPOSITS AND PREPAYMENTS (Continued) Transfer of financial assets The following were the Group’s financial assets as at 31 December 2019 and 2018 that were transferred to banks or suppliers by discounting or endorsing those bills receivables on a full recourse basis. As the Group has not transferred the significant risks and rewards relating to these receivables, it continues to recognise the full carrying amount of the bills receivables and has recognised the cash received on the transfer as a secured borrowing (see Note 31) for discounted bills receivables or it continues to recognise the full carrying amount of the bills receivables and the full carrying amount of the trade and other payables (see Note 27) for endorsed bills receivables. These financial assets are carried at amortised cost in the Group’s consolidated statement of financial position. As at 31 December 2019 Bills receivables Bills receivables discounted to endorsed to banks with suppliers with full recourse full recourse Total RMB’000 RMB’000 RMB’000 Carrying amount of transferred assets 61,793 222,698 284,491 Carrying amount of associated liabilities (61,793) (222,698) (284,491) As at 31 December 2018 Bills receivables Bills receivables discounted to endorsed to banks with suppliers with full recourse full recourse Total RMB’000 RMB’000 RMB’000 Carrying amount of transferred assets 373,657 522,566 896,223 Carrying amount of associated liabilities (373,657) (522,566) (896,223)