90
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
1 SIGNIFICANT ACCOUNTING POLICIES (Continued)
(c) Changes in accounting policies (Continued)
HKFRS 15, Revenue from contracts with customers (Continued)
(1) Effect on the consolidated statement of financial position as at 31 December 2017
As previously reported
HK$'000
Impact on initial application of
HKFRS 15
HK$'000
As restated
HK$'000
Deferred tax assets
5,036
258
5,294
Other non-current assets
3,753,818
3,753,818
Total non-current assets
3,758,854
258
3,759,112
Inventories
559,490
15,556
575,046
Trade and other receivables
690,613
(61,080)
629,533
Cash and bank balances
1,791,679
1,791,679
Tax recoverable.
27,860
8,723
36,583
Total current assets
3,069,642
(36,801)
3,032,841
Trade and other payables
743,320
(585,287)
158,033
Contract liabilities
592,626
592,626
Tax payable
16,230
16,230
Total current liabilities
759,550
7,339
766,889
Net current assets
2,310,092
(44,140)
2,265,952
Total assets less current liabilities
6,068,946
(43,882)
6,025,064
Non-current liabilities
58,177
58,177
Net assets
6,010,769
(43,882)
5,966,887
Share capital
1,754,801
1,754,801
Reserves
Total equity
4,255,968
(43,882)
4,212,086
6,010,769
(43,882)
5,966,887
Hong Kong Ferry (Holdings) Company Limited Annual Report 2018