NOTES TO
FINANCIAL STATEMENTS
79
GDS Global Limited Annual Report 2015
As at 30 September 2015
13 TRADE AND OTHER PAYABLES
Group
Company
2015
2014
2015
2014
$
$
$
$
Trade payables due to third parties
1,479,183
793,330
43,527
40,768
Accruals
1,193,999
1,290,704
169,000
190,200
Deposits received from customers
443,142
2,429,698
–
–
3,116,324
4,513,732
212,527
230,968
The average credit period for trade payables is 30 to 60 days (2014: 30 to 60 days). No interest is
charged on the outstanding balances.
14 FINANCE LEASES
Group
Minimum lease
payments
Present value of
minimum lease payments
2015
2014
2015
2014
$
$
$
$
Amounts payable under finance leases:
Within one year
–
4,089
–
3,480
Less: Future finance charges
–
(609)
NA
NA
Present value of lease obligations
–
3,480
–
3,480
Less:
Amount due for settlement within
12 months (shown under current
liabilities)
–
(3,480)
Amount due for settlement after 12 months
–
–
The lease term was 5 years and the effective interest rate was 3.5% per annum.
15 DEFERRED TAX LIABILITIES
Deferred tax liabilities arise from the excess of tax over book depreciation of plant and equipment
and intangible asset.
Group
$
At 1 October 2013
281,320
Charged to profit or loss for the year (Note 22)
54,680
At 30 September 2014
336,000
Charged to profit or loss for the year (Note 22)
88,000
At 30 September 2015
424,000
