FRENCKEN GROUP LIMITED
ANNUAL REPORT 2015
96
NOTES TO FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015 (CONT’D)
23 TRADE PAYABLES
The carrying values of trade payables approximated their fair values at balance sheet date as these amounts are
payable within the next 12 months.
The exposure of trade payables to currency risk is disclosed in Note 34(a).
24 OTHER PAYABLES, ACCRUALS AND PROVISIONS
The Group
The Company
2015
$’000
2014
$’000
2015
$’000
2014
$’000
Sundry payables
11,199
9,434
32
48
Other operating accruals
17,553
21,666
139
127
Provisions
245
245
210
185
28,997
31,345
381
360
Movements in provisions are as follow:
The Group
The
Company
Provision
for
directors’
fee
$’000
Provision
for interest
expense
$’000
Total
$’000
Provision
for
directors’
fee
$’000
2015
Balance at beginning of financial year
185
60
245
185
Provision made
210
126
336
210
Provision utilised
(185)
(151)
(336)
(185)
Balance at end of financial year
210
35
245
210
2014
Balance at beginning of financial year
185
55
240
185
Provision made
185
197
382
185
Provision utilised
(185)
(192)
(377)
(185)
Balance at end of financial year
185
60
245
185
The carrying values of other payables approximated their fair values at balance sheet date as these amounts are
payable within the next 12 months.
