GHL System Berhad Annual Report 2017

ANNUAL REPORT 2017 121 NOTES TO THE FINANCIAL STATEMENTS 31 December 2017 CONT’D 25. DEFERRED INCOME (cont’d) (b) Movements of deferred income during the financial year are as follows: Group Company RM RM At 1 January 2016 439,559 67,780 Advance receipts during the financial year 1,327,264 859,699 Recognised in profit or loss (1,147,354) (687,799) At 31 December 2016 619,469 239,680 Advance receipts during the financial year 2,068,818 1,511,817 Recognised in profit or loss (1,855,282) (918,492) At 31 December 2017 833,005 833,005 26. TRADE AND OTHER PAYABLES Group Company 2017 2016 2017 2016 RM RM RM RM Trade payables Third parties 23,473,330 16,641,125 153,891 144,129 Other payables Other payables 60,148,164 61,614,267 253,440 1,201,602 Amounts owing to subsidiaries - - 11,738,219 12,719,026 Deposits 12,910,243 10,504,732 601,879 601,879 Accruals 16,511,748 7,078,587 794,978 985,320 89,570,155 79,197,586 13,388,516 15,507,827 113,043,485 95,838,711 13,542,407 15,651,956 (a) Trade and other payables are classified as other financial liabilities, and measured at amortised cost using the effective interest method. (b) Trade payables are non-interest bearing and the normal trade credit terms granted to the Group and the Company range from 1 to 90 days and 30 to 60 days (2016: 1 to 90 days and 30 to 60 days) respectively. (c) Other payables of the Group consist prepayments received from retailers, merchants payables and general administrative expenses payable which are non-interest bearing. (d) Amounts owing to subsidiaries represent payments on behalf are unsecured, interest free and payable upon demand in cash and cash equivalents. (e) The maturity profile of trade and other payables of the Group and of the Company at the reporting date based on contractual undiscounted repayment obligations is repayable on demand or within one year.