Construction Industry Council - Annual Report 2024

ANNUAL REPORT 2024 225 For the year ended 31 December 2024 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Movement of lease liabilities 2024 2023 HK$ HK$ At 1 January 9,023,801 13,254,847 Additions 16,711,722 3,445,863 Interest expenses 231,695 225,533 Interest element of lease payment (231,695) (225,533) Capital element of lease payment (7,403,688) (7,676,909) At 31 December 18,331,835 9,023,801 The present value of future lease payments is analysed as: 2024 2023 HK$ HK$ Current liabilities 7,020,719 6,282,621 Non-current liabilities 11,311,116 2,741,180 18,331,835 9,023,801 Leases – other disclosures 2024 2023 HK$ HK$ Low value lease expense 1,305,740 1,848,035 Interest expenses 231,695 225,533