Page 43 - FOR FLIP BOOK [single page]Cluster report 2018-2020 (1)

New Territories East Cluster 43
Notes to the Financial Statements (Continued)

7. Lease

Accordingto HKFRS 16 Leases issuedby HongKong Instituteof CertifiedPublic Accountants,a lesseehas to
recogniseassetsandliabilities for all leaseswith a termof morethan12 months. This newaccountingtreatment
is effective for annual periods beginning on or after 1 January 2019, i.e. financial year 2019/2020.

The Cluster has leased buildings for clinic and storeroom. Lease terms are negotiated on an individual basis.

8. Deferred income

Designated
donation fund
HK$’000

At 1 April 2018 41,990

Additions during the year 24,331

Utilisation during the year (22,749)

At 31 March 2019 43,572

Additions during the year 34,797

Utilisation during the year (25,908)

At 31 March 2020 52,461

The movementin deferredincome represents the opening balanceof donation funds available for use plus
donations received less donations used during the year. Chapter VII