HKSI Institute AR2023

HKSI Institute Annual Report 2023 70 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) (Expressed in Hong Kong dollars unless otherwise indicated) 12 CASH AND BANK BALANCES (continued) The table below details changes in the Group’s liabilities from financing activities, including both cash and non-cash changes. Liabilities arising from financing activities are liabilities for which cash flows were, or future cash flows will be, classified in the cash flow statement as cash flows from financing activities. Lease liabilities 2023 2022 At 1 April $ 33,653,358 $ 7,217,159 Changes from financing cash flows: Capital element of lease rentals paid (3,152,369) (8,330,728) Interest element of lease rentals paid (1,306,637) (317,228) Total changes from financing cash flows $ (4,459,006) $ (8,647,956) Other changes: Increase in lease liabilities from entering into new leases during the period $ – $ 34,766,927 Interest expenses 1,306,637 317,228 $ 1,306,637 $ 35,084,155 At 31 March $ 30,500,989 $ 33,653,358 13 ACCRUALS AND OTHER PAYABLES AND DEFERRED INCOME (a) Accruals and other payables All of the accruals and other payables are unsecured, interest-free and are expected to be settled within one year. As at 31 March 2023, an amount of HK$32,788 (2022: HK$275,315) accruals and other payables was recorded in relation to the Pilot Programme. (b) Deferred income Deferred income consists of the SFC grant for the ALP Project of HK$22,025 (2022: HK$22,025), and receipts of examination fees, professional development seminar and course fees, and annual fees from members of HK$5,322,209 (2022: HK$8,554,749), which are not yet utilised or earned as income as at the end of the reporting period and are expected to be utilised or earned as income within one year. Deferred annual fees from members of HK$328,695 (2022: HK$625,260) are expected to be recognised as income after one year.