| TRADE RECEIVABLES |
| Schedule of trade receivables | |
| | | |
| | |
| | |
As of March 31, |
| | |
| 2024 | | |
| 2025 | |
| | |
| HK$’000 | | |
| HK$’000 | |
| | |
| | | |
| | |
| Trade receivables arising from: | |
| | | |
| | |
| - Security related service and asset management income – related parties | |
| 8,342 | | |
| 4,100 | |
| - Security related service and asset management income – third parties | |
| 41,153 | | |
| 5,219 | |
| - Trading of timepieces – third parties | |
| 4,194 | | |
| 29,569 | |
| TRADE RECEIVABLES GROSS | |
| 53,689 | | |
| 38,888 | |
| Less: impairment allowance | |
| (28,698 | ) | |
| (24,184 | ) |
| | |
| | | |
| | |
| Total trade receivables | |
| 24,991 | | |
| 14,704 | |
The following is an aged analysis of trade receivables presented
based on the due dates.
| Schedule of trade receivables based on due dates | |
| | | |
| | | |
| | | |
| | |
| As of March 31, 2025 | |
| Security related service and asset management income – related parties | | |
| Security related service and asset management income – third parties | | |
| Trading of timepieces – third parties | | |
| Total | |
| | |
| HK$’000 | | |
| HK$’000 | | |
| HK$’000 | | |
| HK$’000 | |
| | |
| | | |
| | | |
| | | |
| | |
| Current | |
| 4,088 | | |
| 2,950 | | |
| 5,111 | | |
| 12,149 | |
| 1 – 3 months | |
| 3 | | |
| 1,206 | | |
| 24,340 | | |
| 25,549 | |
| 4 – 6 months | |
| 3 | | |
| 868 | | |
| - | | |
| 871 | |
| 7 – 9 months | |
| 3 | | |
| 180 | | |
| 118 | | |
| 301 | |
| 10 – 12 months | |
| 3 | | |
| 15 | | |
| - | | |
| 18 | |
| 1 – 2 years | |
| - | | |
| - | | |
| - | | |
| - | |
| 2 – 5 years | |
| - | | |
| - | | |
| - | | |
| - | |
| Current trade receivables | |
| 4,100 | | |
| 5,219 | | |
| 29,569 | | |
| 38,888 | |
| Less: impairment allowance | |
| (12 | ) | |
| (2,148 | ) | |
| (22,024 | ) | |
| (24,184 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Total | |
| 4,088 | | |
| 3,071 | | |
| 7,545 | | |
| 14,704 | |
| | |
| | | |
| | | |
| | | |
| | |
| As of March 31, 2024 | |
| Security related service and asset management income – related parties | | |
| Security related service and asset management income – third parties | | |
| Trading of timepieces – third parties | | |
| Total | |
| | |
| HK$’000 | | |
| HK$’000 | | |
| HK$’000 | | |
| HK$’000 | |
| | |
| | | |
| | | |
| | | |
| | |
| Current | |
| 100 | | |
| - | | |
| 450 | | |
| 550 | |
| 1 – 3 months | |
| 111 | | |
| 10,460 | | |
| 950 | | |
| 11,521 | |
| 4 – 6 months | |
| 115 | | |
| 1,440 | | |
| - | | |
| 1,555 | |
| 7 – 9 months | |
| 3 | | |
| 3,940 | | |
| - | | |
| 3,943 | |
| 10 – 12 months | |
| 107 | | |
| 1,440 | | |
| 2,794 | | |
| 4,341 | |
| 1 – 2 years | |
| 679 | | |
| 21,577 | | |
| - | | |
| 22,256 | |
| 2 – 5 years | |
| 7,227 | | |
| 2,296 | | |
| - | | |
| 9,523 | |
| Current trade receivables | |
| 8,342 | | |
| 41,153 | | |
| 4,194 | | |
| 53,689 | |
| Less: impairment allowance | |
| (1,993 | ) | |
| (26,451 | ) | |
| (254 | ) | |
| (28,698 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Total | |
| 6,349 | | |
| 14,702 | | |
| 3,940 | | |
| 24,991 | |
All the trade receivables, net of loss allowance, are expected
to be recovered within one year. For trade receivables arising from contracts with customers, the Group generally allows a credit period
of 30 days (2024: 30 days) to its customers. As of March 31, 2025, included in the Group’s trade receivables balance are debtors
with aggregate carrying amount of HK$26,739,000 (2024: HK$53,139,000) which are past due as of the reporting date.
Details of the impairment assessment of trade receivables and
write-off of the loss allowance for trade receivables are set out in Note 27b.
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