Gardens By the Bay 2019/2020

GARDENS BY THE BAY ANNUAL REPORT 2019/20 125 NOTES TO FINANCIAL STATEMENTS 31 March 2020 12a TRADE AND OTHER PAYABLES 2020 2019 $ $ Third parties 3,624,069 6,401,329 Accrued operating expenses 13,628,580 14,647,650 Deposits 1,789,528 1,348,231 Other payables due to Ministry of National Development 23,545 - Other payables due to National Parks Board 691 2,749 19,066,413 22,399,959 The average credit period on purchases is 30 (2019 : 30 days). For the year ended 31 March 2020, purchase of goods and services from NParks totalled $24,407 (2019 : $29,650), and sale of goods and services to NParks was nil (2019 : $7,315). In addition, the Company has research facilities at HortPark (managed by NParks), for which the Company paid NParks utility expenses of $77,794 (2019 : $64,190). 12b CONTRACT LIABILITIES 2020 2019 $ $ Deferred revenue 5,628,525 4,221,669 Analysed as: Current 5,628,525 4,221,669 Non-current - - 5,628,525 4,221,669 This mainly relates to consideration received from the sale of tickets, which have not been used by the customers, and from the sale of the Friends of the Gardens membership, which have not been fully amortised over the period of their validity, and are thus recorded as deferred revenue.