NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
23 TRADE AND OTHER PAYABLES
All of the trade and other payables except for an amount of HK$10,743,000 (2016: HK$11,453,000) are expected to be settled or recognised as income within one year. Included in the trade and other payables are amounts due to related companies of HK$77,154,000 (2016: HK$109,201,000) which are unsecured, interest-free and repayable within 30-45 days or have no fixed terms of repayment.
Included in trade and other payables are trade payables with the following ageing analysis based on due date at the end of the reporting period:
Due within 1 month or on demand
Due after 1 month but within 3 months
Due after 3 months but within 12 months
More than 12 months
2017
HK$'000
2016
HK$'000
98,595
125,562
1,274
1,341
99,878
9
126,912
24 INCOME TAX IN THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(a)
Tax (recoverable)/payable in the consolidated statement of financial position represents:
2017
HK$'000 ·
2016
HK$'000
Provision for Hong Kong Profits Tax for the year
Provisional Profits Tax paid
34,533
35,356
(33,088)
(23,720)
1,445
11,636
Balance of Hong Kong Profits Tax (recoverable)/payable relating to prior years
(13,075)
7,478
(11,630)
19,114
Represented by:
Tax recoverable
Tax payable
2017
HK$'000
2016
HK$'000
(27,860)
(22,174)
16,230
41,288
(11,630)
19,114
137
Hong Kong Ferry (Holdings) Company Limited
Annual Report 2017