Annual Report 2021

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021 113 The United Laboratories International Holdings Limited Annual Report 2021 23. TRADE AND BILLS RECEIVABLES, OTHER RECEIVABLES, DEPOSITS AND PREPAYMENTS (Continued) Transfer of financial assets The following were the Group’s financial assets at 31 December 2021 and 2020 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 28) 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 25) for endorsed bills receivables. These financial assets are carried at amortised cost in the Group’s consolidated statement of financial position. At 31 December 2021 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 18,353 295,282 313,635 Carrying amount of associated liabilities (18,353) (295,282) (313,635) At 31 December 2020 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 26,493 341,058 367,551 Carrying amount of associated liabilities (26,493) (341,058) (367,551)