| TRADE RECEIVABLES |
| Schedule of trade receivables |
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| |
|
As of March 31, |
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| |
|
2025
HK$’000 |
|
|
2026
HK$’000 |
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| |
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|
|
|
|
|
| Trade receivables arising from: |
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|
|
|
|
|
|
| - Security related service and asset management income – related
parties |
|
|
4,100 |
|
|
|
13,015 |
|
| - Security related service and asset management income – third parties |
|
|
5,219 |
|
|
|
8,425 |
|
| - Trading of timepieces – third parties |
|
|
29,569 |
|
|
|
76,820 |
|
| TRADE RECEIVABLES GROSS |
|
|
38,888 |
|
|
|
98,260 |
|
| Less: impairment allowance |
|
|
(24,184 |
) |
|
|
(33,660 |
) |
| |
|
|
|
|
|
|
|
|
| Total trade receivables |
|
|
14,704 |
|
|
|
64,600 |
|
The following is an aged analysis of trade receivables presented
based on the due dates.
| Schedule of trade receivables based on due dates |
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| As of March 31, 2026 |
|
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 |
|
|
693 |
|
|
|
1,314 |
|
|
|
23,155 |
|
|
|
25,162 |
|
| 1 – 3 months |
|
|
2,292 |
|
|
|
1,350 |
|
|
|
- |
|
|
|
3,642 |
|
| 4 – 6 months |
|
|
3,177 |
|
|
|
1,350 |
|
|
|
16,350 |
|
|
|
20,877 |
|
| 7 – 9 months |
|
|
3,091 |
|
|
|
1,350 |
|
|
|
7,746 |
|
|
|
12,187 |
|
| 10 – 12 months |
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|
3,762 |
|
|
|
3,061 |
|
|
|
29,569 |
|
|
|
36,392 |
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| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Current trade receivables |
|
|
13,015 |
|
|
|
8,425 |
|
|
|
76,820 |
|
|
|
98,260 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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| Less: impairment allowance |
|
|
(4,805 |
) |
|
|
(2,996 |
) |
|
|
(25,859 |
) |
|
|
(33,660 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total |
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|
8,210 |
|
|
|
5,429 |
|
|
|
50,961 |
|
|
|
64,600 |
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| |
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
| 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 |
|
| Current trade receivables |
|
|
4,100 |
|
|
|
5,219 |
|
|
|
29,569 |
|
|
|
38,888 |
|
| Less: impairment allowance |
|
|
(12 |
) |
|
|
(2,148 |
) |
|
|
(22,024 |
) |
|
|
(24,184 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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| Total |
|
|
4,088 |
|
|
|
3,071 |
|
|
|
7,545 |
|
|
|
14,704 |
|
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 to its customers. As of March 31, 2025 and 2026, included in the Group’s trade receivables balance
are debtors with aggregate carrying amount of HK$26,739,000
and HK$73,098,000
which are past due as of the reporting date, respectively.
Details of the impairment assessment of trade receivables and
write-off of the loss allowance for trade receivables are set out in Note 28b.
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