Statement of Financial Position
as at 31 March 2020
(Expressed in thousands of Hong Kong dollars)
| Note | 2020 | 2019 | |
|---|---|---|---|
| Non-current assets | |||
| Property, plant and equipment | 8 | 139,712 |
133,254 |
| Intangible assets | 9 | 2,593 |
3,432 |
| Placement with the Exchange Fund | 10 | 525,122 |
510,322 |
| 667,427 | 647,008 | ||
| Current assets | |||
| Trade and other receivables | 11, 12(a) | 7,396 | 120,191 |
| Amounts due from related parties | 19 | 2,054 | — |
| Interest receivable from placement with the Exchange Fund | 4,831 | 3,649 | |
| Other interest receivable | 3,710 | 3,640 | |
| Bank deposits | 715,900 | 520,900 | |
| Cash and bank balances | 39,602 | 5,432 | |
| 773,493 | 653,812 |
||
| Current liabilities | |||
| Trade and other payables | 48,691 | 21,062 | |
| Provision for employee benefits | 13 | 12,028 | 12,739 |
| Amounts due to related parties | 19 | 46,037 | 31,960 |
| Deferred income | 12(b) | 255,918 | 114,699 |
| Target returns required by the Government | 16 | 25,322 | — |
| 387,996 | 180,460 | ||
| Net current assets | 385,497 | 473,352 | |
| Total assets less current liabilities | 1,052,924 | 1,120,360 | |
| Non-current liabilities | |||
| Provision for employee benefits | 13 | 81,349 | 86,217 |
| NET ASSETS | 971,575 | 1,034,143 | |
| CAPITAL AND RESERVES | |||
| Trading fund capital | 14 | 212,400 | 212,400 |
| Development reserve | 15 | 690,165 | 690,165 |
| Retained earnings | 16 | 69,010 | 131,578 |
| 971,575 | 1,034,143 |
Chaucer Leung
General Manager,
Office of the Communications Authority Trading Fund
24 September 2020
The notes form part of these financial statements.