Construction Industry Council - Annual Report 2024

CONSTRUCTION INDUSTRY COUNCIL 216 For the year ended 31 December 2024 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 8. OTHER INCOME 2024 2023 HK$ HK$ Reimbursement of trainees’ allowance (Note 1) 102,192,855 153,968,531 Registration fee income from sub-contractors (Note 2) 3,298,069 3,437,808 Income from conferences and workshops 600,750 1,706,017 Income from short-term rental of devices 221,033 638,617 Reimbursement of promotion expenses (Note 1) 11,478,751 11,554,929 Other miscellaneous income 9,003,391 15,095,860 License income (Note 3) 72,957,022 1,571,331 Foreign exchange gain, net – 213,691 199,751,871 188,186,784 Note 1: Reimbursement of trainees’ allowance and reimbursement of promotion expenses represented the receivable from the Government in respect of the allowances paid by the Group to the trainees for several approved training schemes and promotion expenses paid by the Group which are regarded as government grants. Note 2: Registration fees are collected from sub-contractors who are applying for registration which normally has a validity period of 36 or 60 months on and after 1 July 2017. Registration fee income is recognised over time and the advances received relating to future periods are treated as contract liabilities (Note 22). Revenue is recognised on a time proportion basis based on the output method. Note 3: Licence fee income is recognised over time. It represents the fee received from contractors or their subcontractors for the use of quarter managed by the Company as accommodation for imported labour. Revenue is recognised over the license period based on the output method. All licence are with periods of one year or less. As permitted under HKFRS 15, the transaction price allocated to these unsatisfied contracts is not disclosed.