Page 161 - Urban Renewal Authority 2023-24 Annual Report

22. Statement of Financial Position of the Authority

In accordance with the disclosure requirements of the Hong Kong Companies Ordinance, the statement of
financial position of the Authority as at 31 March 2024 is set out as follows:

Note 2024 2023

$’000 $’000
Non-current assets
Property, plant and equipment 7,844,728 7,109,349
Properties under development 21,048,425 19,979,351
Interest in subsidiaries 22(a) 40,320 40,320
Loan to a subsidiary 14,600 14,600
Building rehabilitation loans 3,354 5,445
Prepayments 604,740 661,867
Investments 550,000 1,650,000
Bank deposits – 269,000

30,106,167 29,729,932

Current assets
Properties held for sale 517,512 868,465
Properties under development for sale 1,121,976 1,216,849
Amounts due from joint development projects 17,521 27,256
Building rehabilitation loans 2,443 3,218
Trade and other receivables 450,512 473,814
Investments 1,100,000 1,150,000
Cash and bank balances 16,543,514 20,554,169

19,753,478 24,293,771

Total assets 49,859,645 54,023,703

Capital and reserve
Capital 10,000,000 10,000,000
Accumulated surplus 36,378,641 40,298,403

22(b) 46,378,641 50,298,403

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

899,917 883,777

Current liabilities
Amounts due to joint development projects 256,653 244,404
Trade and other payables 2,324,434 2,297,140
Debt securities issued – 299,979

2,581,087 2,841,523

Total capital, reserve and liabilities 49,859,645 54,023,703

URA ANNUAL REPORT 2023-24 159