The American Club 2023/2024 Annual Report

PAGE 88

NOTES TO FINANCIAL STATEMENTS 30 JUNE 2024

12. TRADE PAYABLES AND ACCRUALS

2024

2023

$

$

Trade payables

1,747,558

1,545,092

Variable bonus, annual wage supplement and CPF contributions accruals

2,630,703 451,974 200,479 5,030,714

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

GST payable Other accruals

The average credit period for purchase of goods is 30 to 60 days (2023: 30 to 60 days). No interest is charged on outstanding balances.

12. OTHER PAYABLES

2024

2023

$

$

CPF payable

377,913 351,580

290,066 288,163

Provision for unutilised leave

Deposits received Retention payable

52,183

52,184

750,000 1,372,566 2,904,242

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

Other accrued operating expenses

As at end of the reporting period, other accrued operating expenses include the accrued capital expenditure of $307,931 (2023: $205,871).

14. LEASE LIABILITIES

2024

2023

$

$

Maturity analysis: Year 1

20,640 8,600 (1,085) 28,155

- - - -

Year 2

Less: unearned interest

Analysed as: Current Non-current

28,155

- - -

-

28,155

THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2023 / 2024