Page 117 - Urban Renewal Authority 2023-24 Annual Report

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

at 31 March 2024
(expressed in Hong Kong Dollars)

Note 2024 2023

$’000 $’000

Non-current assets
Property, plant and equipment 8 7,883,903 7,149,695
Properties under development 9 21,048,425 19,979,351
Building rehabilitation loans 10 3,354 5,445
Prepayments 604,740 661,867
Investments 11 550,000 1,650,000
Bank deposits 12 – 269,000

30,090,422 29,715,358

Current assets
Properties held for sale 13 517,512 868,465
Properties under development for sale 9 1,121,976 1,216,849
Amounts due from joint development projects 14 17,521 27,256
Building rehabilitation loans 10 2,443 3,218
Trade and other receivables 15 447,429 470,100
Investments 11 1,100,000 1,150,000
Cash and bank balances 12 16,543,514 20,554,169

19,750,395 24,290,057

Total assets 49,840,817 54,005,415

Capital and reserve
Capital 16 10,000,000 10,000,000
Accumulated surplus 36,359,510 40,279,792

46,359,510 50,279,792

Non-current liabilities
Trade and other payables 17 400,806 385,155
Debt securities issued 18 499,111 498,622

899,917 883,777

Current liabilities
Amounts due to joint development projects 14 256,653 244,404
Trade and other payables 17 2,324,737 2,297,463
Debt securities issued 18 – 299,979

2,581,390 2,841,846

Total capital, reserve and liabilities 49,840,817 54,005,415

Approved by the Board
on 13 June 2024

CHOW Chung-kong WAI Chi-sing
Chairman Managing Director

The notes on pages 119 to 161 form part of these consolidated financial statements.

URA ANNUAL REPORT 2023-24 115