Page 99 - avs_ar_2019_2020

- - 68,280 68,280 - - - - - 21,830
2019 HK$ 782,680 782,680 714,400 714,400 2019 HK$ 5,488,680 2,500,000 8,010,510 8,455,433 16,465,943

68,280 - 68,280 - - - - 21,830 -
2020 HK$ 782,680 1,361,915 2,144,595 714,400 1,361,915 2,076,315 2020 HK$ 5,235,498 12,878,109 18,135,437 18,135,437

37

AGENCY FOR VOLUNTEER SERVICE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020 Intangible assets At beginning of year At end of year Less: Government grant related assets At beginning of year Transfer to Government grant related assets At end of year Less: Other fund and donation related assets At beginning of year Transfer to Other fund and donation related assets At end of year Less: Accumulated depreciation At begi

12. Cost Additions 13.

2020 HK$ 169,754 1,405,561 1,575,315

The Agency leases various office and warehouse properties. Rental contracts are typically Termination options are included in a number of property leases. These are used to maximise operational flexibility in terms of managing the assets used in the Agency’s operations. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose any covena

AGENCY FOR VOLUNTEER SERVICE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020 11. Right-of-use assets and lease liabilities (Continued) (c) Cash outflow for leases Within operating activities Within financing activities (d) The Agency’s leasing activities made for fixed periods of 2 years to 3 years. security for borrowing purposes.