SINGAPORE WINDSOR HOLDINGS LIMITED
| Annual Report 2015
75
Year ended 31 March 2015
NOTES TO THE
FINANCIAL STATEMENTS
24. Other financial liabilities (cont’d)
24D. Finance leases
Minimum
payments
Finance
charges
Present
value
HK$’000
HK$’000
HK$’000
Group
31 March 2014
Minimum lease payments payable:
Due within one year
5,919
(317)
5,602
Due within 2 to 5 years
4,306
(165)
4,141
Total
10,225
( 482)
9,743
Net book value of plant and equipment under finance leases
15,932
It is the group’s policy to lease certain plant and equipment under finance leases. The average lease term is 4 years.
There is an exposure to fair value interest risk because the interest rates are fixed at the contract date. All leases are
on a fixed repayment basis and no arrangements have been entered into for contingent rental payments. All lease
obligations are denominated in Hong Kong dollar. The fair value of the lease obligations approximates to their
carrying amount. The obligations under finance leases are secured by the lessor’s charge over the lease assets.
25. Other payables, non-current
Group
Company
2015
2014
2015
2014
HK$’000
HK$’000
HK$’000
HK$’000
Non-controlling interests shareholders of
subsidiaries
–
2,716
–
–
Loan from shareholder
22,929
–
22,929
–
22,929
2,716
22,929
–
The amount which is denominated in US dollars (2014: Hong Kong dollars), is unsecured. Interest is accrued on
indebtedness at the rate of 2.34% per annum (2014: nil).
