The American Club 2022/2023 Annual Report

PAGE 81

NOTES TO FINANCIAL STATEMENTS 30 JUNE 2023

11. TRADE PAYABLES AND ACCRUALS

2023

2022

$

$

Trade payables

1,545,092

1,485,381

Variable bonus, annual wage supplement and CPF contributions accruals

2,594,931 444,344 255,049 4,839,416

2,293,922

GST payable Other accruals

417,372 97,734

4,294,409

The average credit period for purchase of goods is 30 to 60 days (2022 : 30 to 60 days). No interest is charged on outstanding balances.

12. OTHER PAYABLES

2023

2022

$

$

CPF payable

290,066 288,163

303,754 228,361

Provision for unutilised leave

Deposits received Retention payable

52,184

55,113

1,260,000 1,140,721 3,031,133

1,260,000 2,821,900 3,409,128

Other accrued operating expenses

As at end of the reporting period, other accrued operating expenses include the accrued capital expenditure of $205,871 (2022 : $631,587).

THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2022 / 2023