PARALYMPIC COMMlTTEE & SPORTS ASSOCIATION FOR THE PHYSICALL Y DISABLED (“Thc Associatiollη 香港正是疾人奧委會暨傷殘人士體育協會

REPORTS AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

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Report ofthe Executive Committee 1 - 3

Inclepenclent Auclit凹 's Report 4 - 5

Statemcnt of Comprehensive Income 6

Stalemcnl of Financial Positio n 7

Statemcnt of Changes in Funcl ancl Reserves B

Stalement ofCash Flows 9

Notes to the Fi nancial Statements 10 - 38 ilIFILFIL

HONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIATION FOR THE PHYSICALLY DISABLED ("The AssoCÎation") 香港殘疾人奧委會暨傷殘人士體育協會 REPORT OF THE EXECUTIVE COMMITTEE

The l11 el11 bers of the executive cO l11 l11 i 吐 ee subl11 it herewith lheir annual report logether with the alldited fi nancial statel11 enls for the year ended 31 March 20 16

Principal Place of Activity

Hong Kong ParalYl11 pic COl11l11 ittee & S1'Ol1S Associat ion for the Physically Disabled (“the Associati on") 的 a charitable organisation incorporated and dO l11 ici led in Hong Kong and has its registered office and pr incipal 1'lace of act 川 ty at Roo l11 s 14 1- 148 , G/F., Block B, Mei FlIng HO ll se, Mei La l11 Estate, Shatin , New Terri tories, Hong Kong

Status and PrinCÎpal Activity of the Association

The Association was in corporated lInder the predecessor Hong Kong CO l11 pal1 ies Ordinance (Ca1'. 32) 0 11 17 Novel11 ber 1997 to take over the l11 anage l11目前 ， assets and li abilities of an lInincorporated body na l11 ed Hong Kong SpO ltS Association for the Physically Disabled. It is a charitable organisation li l11 ited by 且 lI arantee and is engaged in vario ll s activities to pro l11 ote and organise sports and physical recreation fOl th e 1'hysica ll y disabled

Busincss Rcview

The CO l111'any falls within re1'ol1ing exem1'tion for the financial year. Accordi ng 旬 ， the CO l11 pany is exel11 pted fro l11 preparin g a bllsiness review.

Pcrmittcd Indemnity Provision

At no ti l11 e dllring the year and up to the date of this re 1' o此 ， there was or is any 1' ermi 吐 ed in demnity prov ision bei ng in fo rce fo r the benefit of any executive cO l1ll11 ittee mel11 bers ofthe Association (whethel made by the Association or otherwise) or of its associated company ( l11 ade by the Association)

FinanCÎal Results

T he surplll s of the Association for the year ended 31 March 2016 and the financial 1'osition of the Association as at that date are set out in the financia1 statel11 ents on pages 6 to 38

lLIL-- lII

HONG KONG PARALY耳1PIC COMMITTEE & SPORTS ASSOCIA TION FOR THE PHYSIC冶LLY DISABLED ("The Associationη 香港殘疾人奧委會暨傷殘人士體育協會 REPORT OF THE EXECUTIVE COMMITTEE(CONT'D)

Prcsidcnt and Vicc-Prcsidents

The presid ent and vice-presid ents du rin g the year:

Mrs Fun g Ma Kit H訓 ， Jenny, BBS, JP (Pr自 ident) Mr Andy Lall , BBS, MH, JP (Vice-President) Mr Michael Lee, JP (Vice-President) Mr Lincol n Yll (Vice-President)

Exccutive Committcc

The executi ve committee members during the year

Dr Lam James Joseph, JP (Chainnan) Mr Ng Chak Li n, Patrick, BBS, MI-I (Vice Chairman) Mr Lam Sai Y in 臣， I-Ienry (I-I onorary Treasurer) Mr Chiang Tal< C h e un 皂 ， Sil as, BBS, MI-I Dr Chung Wai Man Dr Ko Joshua Dr Lam K wong Chin Ms Tse Kin Ching, Christine Mr Wong Chiu Wa h Ms Wu Siu L i n 皂 ， Elaine Ms Wan Mei Yuk, Ruby (Appoin ted on 13 December 2015) Mr Ng Shun g, Apollo (Resigne d on 13 December 20 15)

In accordance with Artic le 15 .7 of the Association's arti cles of association, al l present execlltive co mmittee members retire and, be ing e li gib 峙， offer themselves for re-election at the fOlthcomin g Annual General Meeting provided that he/she has attended at least two-thirds of the Executi ve Co m ll1 i 仕 ee Meetin gs held dur in g his/her period of office

In accordance wi th ArticJ e 15.5 of the Association's articles of association, all executive co mmi廿ee members shall serve until the conclusion of the second Annual General Meeting after whi ch he/she is elected to office. A retiring member is eli gible for re-election provided that at least two-thirds of the Execlltive Committee Meetings held during the period of offi ce has been attended

At no time du ring the year was the Association a party to any arrangement to enable the executi ve committee members of the Association to acquire benefïts by means of the acq ui sition of shares in 0 1 debentllres of any body corporate

No contract of significance to wh ich the Association was a palty, and in which an executive committee member of the Association had a material interests, subsisted at the end of the year or at any time during the yeal

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I-IONG KONG PARAL YMPIC COMMITTEE & 尸 SPORTS ASSOCIATION FOR TI-IE PHYSICALLY DISABLED l (吋 he Association") 香港殘疾人奧委會暨傷殘人士體育協會 a REPORT OF TI-IE EXECUTIVE COMMITTEE(CONT'D)

Auditors

The audito 悶， Messrs W. H. Tse & Company, Chaltered Accountants, Celtified Public Accountants (Pract i sin 且) ， retire and, being e li gible ，。仔'e r themselves for re-appointment.

011 ßehalf ofthe Executive C0111m ittee l 主 Dr Lam James Joseph, JP Chairman 、 、 呵， qd AMHHHU phU 呵，，。16 Hong Kong, ι h

- 3 - W. H. Tse & Company Rooms 70 1-703. 7/ F.. Kai Tak Commerc iaJ Building 317 & 319 De s Voeux Road Ce ntral , Hon g Kong CERTIFIED PUB Ll C ACCOUNTANTS (PRACTISING) Tel : (852) 2542 2800 Fax: (852) 2542 2663 Email whtseco@netviga tor.com 謝維慶會計師事務所 香港德制 m 中 3 1 7&319 號啟德商業大使 7 字他 7 01 -703 室

Our R~f YO l/r Ref.

INDEPENDENT AUDITOR'S REPORT TO THE EXECUTIVE COMMITTEE OF THE I-IONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIA TION FOR THE PHYSICALLY DISABLED ("Thc Association") 香港殘疾人奧委會聾傷殘人士體育協會

(INCORPORATED 11可 HONG KONG AND LIM1TED BY GUARANTEE)

We have alldited the fìnancial statements of Hong Kong Paral ympic Comm ittee & SpOl1S Association FOI The Physica lly Disabled (“ the Association") set Oll t on pages 6 to 38, which comprise the statement of fìnancial pos ition as at 31 March 20 16, th e statement of comprehensive income, statement of changes in fllnd and reserves and statement of cash flows for the year then ended, and a sllmmary of signifìcant accollnting po li cies and other explanatory information

Executiνe committee membe悶 ， respol1sibility for the fil1 al1 cial statem凹的

Thc execlltive comm ittee members of the Association are responsibl e for the preparation of fìnancial statemen!s that give a trlle and fair view in accordance with Hong Kong Fina ncial Reporting Standards isslled by the Hong Kong lnstitute of Certifìed Public Accolln tants and the Hong Kong Companies Orclinance, and for sllch internal control as the executive comm ittee members determine is necessary to enable the preparation offinancial statements that are 自 ee from the materialmisstatement, whether dlle to fralld or error.

Auditor 's respol1 sibility

Oll r responsibility is to express an opin ion on these fìna ncial statements based on ollr aud it. Th 閃閃 port IS made so lely to yO ll , as a body, in accordance with Section 405 of the Hong Kong Com panies Ordinance, and for no other pllrposes. We do not assume responsibility towards or accept liability to any other person for the contents of this report. We condllcted our alld it in accordance with Hong Kong Standards on Auditing isslled by the Hong Kong In stitute ofCeltifìed PlIblic Accollntants. Those sta ndard s reqllire that we comply with ethical reqllirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free fro m materialmisstatement

An aud it in vo lves performing procedures to obtain audit evidence about the amounts and discJ osures in the fìnancial statements. The procedures se lected depend on the auditor's judgement, including the assessment of the risks of material m isstatement of the fìnancial statements, whether due to fraud or error. In making those risk assessments, the allditor considers internal co ntrol relevant to the entity's preparation of fìnancial statements that give a true and fair view in order to des ign audit procedures that are appropriate in the circllmstances, but not for the purpose of expressin g an op inion on the effectiveness of the entity's internal control. An audit also in cJ udes eva lu at in g the appropriateness of accounting policies used and the re asonableness of accounting estimates made by the executive com mi 廿ee memb e 悶， as well as evaluati ng the overall presentation ofthe fìnancial statements

We believe that the audit evidence we have obtained is suffìcient and appropriate to provide a basis fOl our audit opinion

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INDEPENDENT AUDITOR'S REPORT(CONT'D) TO THE EXECUTIVE COMMITTEE OF THE HONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIA TION FOR THE PHYSICALLY DISABLED (“The Associatioll") 香港殘疾人奧委會暨傷殘人士體育協會 (INCORPORATED IN HONG KONG AND LIMITED BY GUARANTEE)

Opinion

In ollr opinion, the linancial statements give a trlle and fa ir view of the tinancial position of the Associati on as at 3 1 March 2016, and of its linancial performance and cash fl ows for the year then ended in accordance with Hong Ko ng Fi nancial Repol1 in g Standards and have been properly prepared in comp li ance wi th the Hong Kong Companies Ord inance

W. H Tse & Compan Chartered Ac“/countant , CertiJìed Public Accounfants (Practising)

Hong Kong, Z3 AUG Z016

- 5 - HONG KONG l'ARALYMPIC COMMITTEE & Sl'ORTS ASSOCIA TION FOR THE l'HYSICALLY DISABLED (“The Association") 香港殘疾人奧委會暨傷殘人士體育協會 STATEMENT OF COMPREHENSlVE INCOME FOR THE YEAR ENDED 31 MARCH 2016

坐坐星星 且l豆 且i互 E主旦 H玉皇 Illcome

Membership fees 23 ,960 14,910 Donations 2 3,052,749 6,341 ,337 Community Chest - Basel ine Allocation 510,510 450,500 Lei sure and Cultural Services Department - Subvention for salaries 1,961 ,759 1,789,098 Government subventioll 2,392,365 2,295 ,458 Arts and Sport Development Fund Striving fo r Excellence Programme 1,120,000 - Sustaining Optimal Perform ance Programme 795,000 In terest income 539,687 233 ,905 Other net in come 3 187,418 125 ,978 Sponsorship grants for activities 4 14,259,822 16,173,739 Grants for acquisition of sports equipm ent and other assets 5 348,447 372,347 Applied against items capitalised (348,447) (372,347) 23 ,723,270 28,544,925

Expenditll.-e

Sports activities, competitions and programmes: - International games, trainings, competitions and conferences 6 7,219,630 9,107,036 - Hong Kong competitions 7 137,139 115,566 - Training programmes, continuous activities and special programmes 8 8,748,898 9,472,730 16,105,667 18,695,332

Administration and general costs 9 7,570,965 6,982,443 23 ,676,632 25 ,677,775 Su.-plus and Total Compl叫lcnsÎve ]ncome 1'0.- thc Yea.- 46,638 2,867,1 50

ILILrl.

The notes on pages 10 to 38 fonn part ofthese financial statements

- 6 - 們 HONG KONG P ARAL Y恥'1PIC COMMITTEE & SPORTS ASSOCIA TION FOR THE PHYSICALLY DISAßLED (“The Association") 香港幾疾人奧委會暨傷殘人士體育協會 STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2016

且豆豆豆 2016 2015 E蓋亞 旦蓋亞 且星星 H玉皇

Non-current Assets Property, p1ant and equipment 12 53 ,444 62,547

CU lTent Assets Inventori es 14 58,704 223 ,144 Held-to-maturity investmel1 ts 13 5,782,503 Accounts receivables 15 363,975 273,749 Deposits al1 d paymel1 ts il1 adval1 ce 1,098,832 476,756 Cash and cash equ ivalents 16 21 ,770,957 14,793 ,786 23 ,292,468 21 ,549,938

Current Liabilities Accounts and other payables 17 2,103 ,468 2,894,810 Receipts in adval1 ce 18 5,041 ,626 2,562,465 (7,145 ,094) (5 ,4 57,275)

Net Current Assets 16,147,3 74 16,092,663

Net Assets 16,200,818 16,155,210

Gcncral Fund 3,860,082 3,813,444

Spccific Rcscrvcs Athl etes trai l1 il1 g reserve 19 1,010,509 1,0 11 ,539 Paralympic games reserve 20 1,518,343 1,518,343 Capital reserve 21 9,811 ,884 9,81 1,884 12,340,736 12,3 41 ,766

Total Fund and Reserves 16,200,818 16,155,210

舟，，』3 annHHu PHU 啊，，』 日16 Approved and authorised for iss ue by the Executive Committee 011

, r./ \ α戶) Mr Lam Sai Y i l1 皂， Henry Honorary Treasurer

The 110tes 011 pages 10 to 38 form part ofthese fi l1ancial statemel1 ts.

- 7 - HONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIA TlON FOR THE PHYSICALL Y DISABLED (“The Association") 香港殘疾人奧委會暨傷殘人士體育協會 STATEMENT OF CHANGES IN FUND AND RESERVES FOR THE YEAR ENDED 31 MARCH 2016

Athletes Paralympic tra 111 111 且 games Cap ital General reserve reserve reserve fund (note 19) (note 20) (note 21) Total HK$ 且監旦 HK$ 旦旦旦 HK$

Balallce at 1 April 2014 1,243,834 1,044,791 1,518,343 9,811 ,884 13 ,618,852

Challges ill total fund and rcscrves for the year:

Ut ilisations (33,252) (33 ,252) Surp lu s and total comprehensive income 的or the yeal 2,867,150 2,867,150

Reclassification to Reccipt ill Advance - Social Welfare Depaltment i) Provi dent Fund Reserve for 6.8% post & ot h e 的 (294,595) (294,595) i i) Prov ident Fund Reserve for snapshot staff (2,945) (2,945)

Balallce at 31 March 2015 and 1 April 2015 3,813 ,444 1,011 ,539 1,5 18,343 9,811 ,884 16,155 ,210

Challgcs in total fUlld and reserves for the year:

Utili sations ( 1,030) (1,030) Su rplus and total comprehensive income for the year 46,638 46,638

Balallce at 31 March 2016 3,860,082 1,0 10,509 1,518,343 9,811 ,884 16,200,818

The notes on paged 10 to 38 form p3lt of these financ ial statements.

- 8 - J-J ONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIATION FOR T J-J E P J-JYSICALLY DISABLED (“The Association") 香港殘疾人奧委會暨傷殘人士體育協會 STATEMENT OF CASJ-J FLOWS FOR T J-JE YEAR ENDED 31 MARCJ-J 2016

且旦旦 2016 2015 旦旦旦 HK$ Opcratillg Activities Surplus for the year 46,638 2,867,150

Adjustments for: Depreciation 23 ,023 23 ,061 Interest income (539,687) (233 ,905)

Opcratillg (Dcficit)/Surplus before Changes in Working Capital (470,026) 2,656,3 06

Decrease/(In crease) in inventories 164,440 ( 182,939) (Increase) in accoullts receivables (90,226) (48,112) (I ncrease) in deposits and payments in advance (622,076) (263,367) (Decrea se)/Increase ill accounts and other (7 91 ,342) 1,746,070 payables Increase/(Decrease) in receipts in advance 2,479,161 (1 ,355,133)

Net Cash fro ll1 Operating Activities 669,931 2,552,825

I lIvcsting Activities

Inlerest received 572,261 304,091 Unrealised exchange loss in olhel non-current !ìnancial assets (34,771 ) (65,835) Net decrease/( increase) in bank deposits over three months of maturity at acqulsltlon (8 ,679,022) 97 1,292 Acqu isition of held-to-ll1aturity in vestments (3 ,877 ,508) Receipt of principal of held-to-maturity Ill vestments 5,784,700 2 ， 395 ， 29 日 Net payll1ents for acquisitioll of propelty, plant and equ ipment (13,920) ( 18,827)

Net Cash (Uscd ill) I lIvestillg Activities (2)} 也 ?m (2月 1 ， ~_~9)

Fillallcillg Activity Utilisation of athletes training reserve (1 ,030) (33,252)

Net Cash (Used in) Financing Activity ______(I Æ9J (33 ，2_~?)

Net (Decrease)lIncreasc in Cash and Cash Eq uivalcn ts ( 1,701 ,85 1) 2,228,084 Cash and Cash Equivalcnts at 1 April 8,731 ,665 6,503,58 1

Cash and Cash Equivalents at 31 March 16 7,029,814 8,731 ,665

The notes on pages 10 to 38 form palt ofthese !ìnancial statements

- 9 - HONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIA TION FOR THE PHYSJCALLY DISABLED (“The Association") 香港殘疾人奧委會暨傷殘人士體育協會 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

1. Significant Accounting Policies

a) Statcment of Compliance

These financial statements have been prepared in accord ance with all applicable Hong Kong Financial Reporting Standards (“HKFRSs"), wh ich collective term includes all applicable individual Hong K011g Financial Rep Olting Standards, Hong K011g ACCOll11ti11g Standards (“HKASs") a11d Interpretatio11s issued by the H011g Kong Institute of Ce.tified Public Accou11tants (“悶。 CPA") ， accounti11g pri.曰 iples generally accepted in H011g K011g a11d the requ ireme11ts of the Hong K011g Companies Ordinance. A summary of the s igni 日 cant accounting policies adopted by the Company is set Ollt below

The HKICPA has issued ce.tain 11ew a11d revi sed HKFRSs that are first effective or available for eariy adoptio11 for the current accollnti11g period of Ihe Association. The adoplion of these new a11d revised HKFRSs has no material impact on the Associatio11's reslllts of operations and financia l pos ition

The Associati on has not applied any new standa rd or interpretalion thal is not yel effective for the Cllrre11t accollntin g period (see note 28) 。

b) Rcporting Exemption

The Company falls within repo.ting exemption for the reporting period u11d er Sect ion 359(1) 。 flhe H011g Kong Compa11ies Ordi11ance. Nevertheless, the execlltive commitlee members reso lved 11 0t to take adva11tage of the reporling exemption and these Fi nancial statements comply with HKFRSs. The execlltive committee members have acknowledged that, 10 ach ieve fair presentation ofthe Fi nancial statements, it may be necessary for management to provide disclosures beyond those specifically required by HKFRSs.

c) Basis ofPreparation of thc FinanciaI Statements

The measureme11t basis lIsed in the preparatio11 of the financia l slateme11ts is the historical cost basis

The preparatio11 of fi11a11cial stateme11ts in c011formity with HKFRS s reqllires ma11ageme11t to make jlldgeme11 俗 ， estimales and assllmptions that affect the app li catio11 of policies and reported amou11ts of assets, liabilities, i11come and expenses. The estimales and associated assumptions are based 011 historical experie11ces and various other factors that are be lieved to be reaso11able u11der Ihe circumsta11ces, the reslllts of which form the bas is of making the judgement about carryi11g values of assels and liabilities that are not readily appare111 from olher sOllrces . ActuaI reslllts may differ from these eslimales.

The estimates and underlyi11g assllmptio11s are reviewed 011 a11 ongoing basis. Revisio11S to accou 11ting estimates are recognised i11 the year in which the estimale is revised if the revisio11 affects ol1 ly that year or in the year of the revision and flltllre years if the revisio11 affects both current a11d future years

- 10- I-lONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIATlON FOR TI-lE PHYSICALLY DISABLED (“The Association") 香港成疾人奧委會暨傷殘人士體育協會 NOTES TO TI-lE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCI-l 2016

[ 1. Sign 心

Investments in Debt Securities

Il1 vestmel1 ts il1 debt securiti es are il1 iti a l1 y stated at fair va1ue, whi ch is their transaction price un 1ess fair va1ue ca l1 be more re li ab1y estimated using valuation techniques whose variab1es include on1y data froll1 observable ll1arkets. Cost il1 c1udes attributab1e transaction costs. Dated debt securities that the Association has the positive ability and intention to ho1d to maturity are classified as he1d-to-maturity securities. Held-to-ll1aturity investll1ents are stated at all1011ised cost less accull1 ulated ill1pairll1ent losses (see note 1(η)

In vestll1ents are recogn ised/derecognised on the date the Association cO ll1ll1its to purchase/se l1 the in vestll1ents 01' they expire

Property, Plant and Equipment

Prope旬， plant and equipment are stated at cost less accumu lated depreciatio l1 and impairment losses (see note 1(1)). Specific grants and designated dO l1 atiol1 s received are a l1 0cated to reduce the acquisitiol1 cost ofthe asset concern ed

Deprecatiol1 is calcu lated to write off the cost of items of propel 旬， p1a l1t al1 d equipmel1 t, less their estimated residual values, if al1 y, usi l1 g the straight 1i l1 e method over their estimated usefu l lives as fo l1 ows

Leasehold improvemel1 ts Sh Olter of3 years or remaining lease term Furniture and fittings 3 yea rs Equipment 3 years Motor vehicles 3 years

80th the usefullife of al1 asset al1 d its residual value, if al1 y, are reviewed al1l1 ua l1 y

The carryi l1 g amoul1 ts of property, plal1t al1 d equipment are reviewed for il1 dicatiol1 s of impairmel1 t at each reporti l1 g date. A I1 impai rment loss is recognised il1 the stateme l1 t of comprehel1 sive il1 come if the carryil1 g amou l1t of an asset, or the cash-gel1 erating ul1 it to which it belongs, exceeds its recoverable amount. The recoverable amount of al1 asset, or the cash generati l1 g ul1 it to which it belol1 gs, is the greater of its fair va lu e less costs of disposa l al1 d value il1 use. 111 assessil1 g value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects currel1 t market assessments ofthe time value of mO l1 ey and the ri sks specific to the assets. An impairment loss is reversed if there has beel1 a favourable change il1 the estimates used to detenni l1 e the recoverable amount

Gains 01' losses arisi l1 g from the retiremel1 t or disposal of an item of prope 吋y ， plal1 t al1d equipmel1 t are determined as the di 叮'e rence between the l1 et disposal proceeds al1 d the carryi l1 g amount of the item and are recognised in the statemel1 t of comprehensive income 011 the date of retirement or disposal

- " - 『 llnthnEL

I-IONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIATION FOR T I-I E PHYSICALLY DISABLED ("The Association") 香港成疾人奧委會暨傷殘人士體育協會 NOTES TO THE FINANCIAL STATEMENTS FOR Tl-IE YEAR ENDED 31 MARCH 2016

1. Significant Accounting Policies (cont'd)

ηImpa irment of Assets

Impairment of investments in debt securities

Investment in debt securities that are stated at amortised cost are reviewed at each reporting date to determine whether there is objective evidence of impairment

Objecti ve evidence of impairment includes observable dala that comes to the attenli on of the Association abollt one or more of the following loss events

sign ifi cant financial difficlllty ofthe debtor;

a breach of contract, such as a default or delinqllency in interest or principal payments;

it becoming probable that the debtors will enter bankruptcy or other finan cial reorganlsatlon;

sign ifi cant changes in the technological, market, economic or legal environm ent that have an adverse effect on the debtor

If any sllch evidence exists, any impairment loss is determined and recognised as follows

For other financial assets carried at amortised cost, the impairment loss is measured as the difference between the carrying amollnt of the financial asset and the estimated future cash fl ows, discollnted at the financia l asset's original effective interesl rate (i.e. the effective interest rate compllted at initial recognition of these assets), where the effect of discounting is material. This assessment is made collectively where financial assets carried at amortised cost share sim il al risk characteristics, such as similar past due s!a!u s, and have not been indi vidllally assessed as impaired. Future cash flows for financial assets which are assessed fOI impairment collectively are based on histori cal loss experience fo r assets with credit risk characteristics sim il ar to the coll ective grollp.

If in a subsequent period the amollnt of an impairment loss decreases and the decrease can be linked objectively to an event occurring a 缸er the impairment loss was recognised, the impairment loss is reversed through surplus or deficit. A reversal of an impairment loss shall not result in the asse!'s carrying amount exceeding that which would have been determined had no impairment loss been recognised in prior years

Impairment of other assets

Internal and external sources of information are reviewed at each reporting date to identify indications that prope旬， plant and equipment may be impaired or an impairment loss previously recognised no longer exists or may have decreased

- 12 - HONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIATION FOR THE PHYSICALLY DISABLED (“Thc Assoc i ation") 香港殘疾人奧委會暨傷殘人士越育協會 NOTES TO THE FlNANClAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

1. Signilicant Accounting Policics (cont'd)

。 Impa i rmcnt of Asscts (cont'd)

ii ) Illlpairlllent of other assets (cont'd)

If any such indication exists, the asset's recoverable amount is estilllated

Calculat ion of recoverable amount

The recoverable amount of an asset is the greater of its fair va lu e less costs of disposal and value in use. In assessing value in use, the estilllated fllture cash flows are discounted to their present va lu e using a pre-tax discount rate that reflects current lll arket assessments of the time value of money and the risks specific to the asset. Where an asset does not generate cash inflows largely independent of those from other assets, the recoverable amount is determined for the smallest groll p of assets th at generates cash inflows in dependently (i.e. a cash-generating lInit)

Recognition of illl pai rm ent losses

An impairment loss is recognised in the statement of comprehensive income if the carryin g amount of an asset, or the cash-generating lInit to wh ich it belongs, exceeds its recoverable amollnt. Impairment losses recognised in respect of cash-generati ng lInits are all ocated to reduce the carrying amount of th e other assets in the lInit (or group of units) on a pro rata basis, except that the carrying value of an asset will not be reduced below its individual fair value less costs of disposal (ifmeasurable), or va lu e in use (if determinable)

Reversals of impainnent losses An impairment loss is reversed if there has been a favourable change in the estimates used to determine the recoverable amount

A reversal of an impairment loss is limited to the asset's carrying amou nt that wou ld have been determined had no impairment loss been recogni sed in pri Ol years. Reversals of impairment losses are credited to the statement of comprehensive in collle in the year in wh ich the reversals are recognised

g) Invcntorics

In ventories a 閃 ca rri ed at the lower of cost and net realisable value

Cost is calculated using the weighted avera ge cost formula and comprises all costs of pllrchase, costs of conversion and oth er costs incurred in brin gin g the in ventories to their present location and condition.

Net rea li sable value is the estimated selling price in the ordinary cOllrse of business less the esti mated costs of completion and the estimated costs necessary to lll ake the sa le

- 13 - HONG KONG PARALY軒IJPIC COMMITTEE & SPORTS ASSOCIATION FOR THE PHYSICALLY DISABLED (“The Association") 香港殘疾人奧委會暨傷殘人士體育協會 NOTES TO THE FINANCIAL STA TEMENTS FOR TI-IE YEAR ENDED 31 MARCH 2016

C 1. Signif

g) Inventol'Ìes (co 肘 'd)

When in ventories are sold , the carrying amount of lhose in ventori es is recognised as an ex pense in the year in which the related revenue is recognised. The amount of any write-down of inventories to net rea li sable va lu e and alllosses of in ventori es are recogni sed as an expense 川 lhe year lhe write-down 0 1' loss occurs. The amount of any reversal of any wri te-down of inventories is recognised as a reduction in lhe amounl of inventories recognised as an expense in lhe year in which the reversal occurs

h) Accoullts Receivables

Accollnts receivables are initially recogni sed at fa ir va lu e and thereafter staled at amortised cost less all owance for im pairment of dO llbl ful debts, except where the effecl of discoll nting wou ld be im material. In sllch cases, lhe receivables are stated at cost less all owance fOJ impairment of doubtful debts

Impairment losses for bad and doublflll debts are recognised where there is objective ev id ence of impairment and are measllred as th e difference betweell the carrying amollnt of the fillancial asset and the estimated future cash flows, discounted at the assel's ori ginal effective interest rate where the effect of discounting is malerial. Objective evidence of impairm ent in cludes observable data lhat comes to the attenlion of the Association about events that have an im pact on the asset's estimated flltllre cash flows sllch as significant financial difficulty ofthe debtor

Im pairment losses for receivables whose recovery is considered dOllbtful but not remote are recorded lIsi ng an a ll owance account. When the Associati on is satisfied that recovery is remote, the amollnt considered irrecoverable is written off against debtors directly and any amounts held in the all owance accoll nt relating to that debt are reversed. Sllbseqllent recoveries of amollnts previollsly charged to the allowance account are reversed against the all owance accoun t. Other changes in the all owance account and subseq uent recoveries of amounts previollsly written off directly are recogni sed in th e statement of comprehensive Il1 come

Accounts and Other Payables

Accounts and other payables are initially recognised at fair va lu e and sllbsequently stated at amOJ1 ised cost unless the effect of di scounting would be immaterial, in which case they are stated at cost.

Cash and Cash Equivalents

Cash and cash equi valents compri se cash at bank and in hand, demand deposits with banks and other financial institutions, and short-term, hi ghly liqllid investments th at are readily convertible into known amounts of cas h 剖ld which are sllbj ect to an in s i gn i 日 ca nt ri sk of changes in value, having been within three months of maturity at acq lli sition

- 14 - HONG KONG PARALY恥1PIC COMMITTEE & SPORTS ASSOCIA TION FOR THE PHYSICALL Y DISABLED (“The Associatioll") 香港殘疾人奧委會暨傷殘人士 趙寶協會 NOTES TO THE FINANClAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

1. Significallt Accounting Policies (cont'd) 且 . k) Employee Benefits

i) Salari es, annual bonllses, paid an nll al leave, contriblltions to defined contriblltio n retirement plans and the cost of non-monetary benefits are accrued in th e year in whi ch the associated services are rendered by employees. Where payment or settlement is deferred and the effect would be material, these amounts are stated at their p 問 se nt va llles.

ii ) Contributions to Mandatory Provident Fllnds as reqll ired llnder the Hong Kong Mandatory Provide l1 t FlInd Schemes Ordinance are recognised as a l1 expense in the statement of comprehensive in come as incurred

1) Provisions and Contingent Liabilitics

Provisions are recognised fo r other li abi li ties of uncertain timing 0 1' amollnt when the Association has a legal 0 1' constrllctive obli gation 卸的 i ng as a reslllt of a past event, it is probable that an olltfl ow of economic benefits will be requ ired to settle the obligation and a reliable estimate can be made. Where the time vallle of money is material, provisions are stated at the present value ofthe expenditure expected to settle the obli gati on

Where it is not probable that an olltflow of economic benefits wi ll be required, 01' the amount cannot be estimated rel iably, the obligation is disclosed as a contingent liabili 旬， lInl ess the probability of olltfl ow of economic benefits is remote. Possible obligations, whose existence wi ll onl y be confirmed by the occurrence 01' non-occurrence 01' more future events are also di sclosed as contingent liabilities unless the probabi li ty of outfl ow of econom ic benefits is remote

m) Operating Lease Charges

An arrangement, comprising a transaction or a series of transactions, is 01' contain s a lease if the Association determines that the arrangement conveys a ri ght 10 use a specific asset 01 assets for an agreed period of time in return for a payment 0 1' a seri es of payments. SlIch a determination is made based 0 11 al1 evalu ation of the sllbstance of the arrangemel1 t and is regardless of whether the arrangement takes the legal form of a lease.

Leases which do not transfer substantiall y all the risks and rewards of ownership to the Association are classified as operating leases

Where the Association has the use of assets held under operating leases, payments made under the leases are charged to the statement of comprehensive income in eqllal instalments over the accounting periods covered by the lease term, except where an alternative basis is more representative of the pa社 ern of benefits to be derived from the leased asset. Lease il1centives received are recognised in the statement of comprehensive in come as an integral part of the aggregate net lease payments made. Contingent rentals are charged to the s tat e m目前 of comprehensive income in the accounting period in which they are incurred.

- 15 - IIONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIA TION FOR THE PHYSICALL Y DISABLED (吋 he Association") 香港殘疾人奧委會暨傷殘人士體育協會 NOTES TO THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2016

1. Significant Accoullting Policies (cont'd)

11 ) Rcvenue Recogllitioll

Revenlle is measured at the fair va lu e of the consideration received or receivable. Provided it is probable that the eco l1 om ic benetits will flow to the Associatiol1 and the revenu e al1 d costs, if applicable, can be measllred reliably, revenue is recogl1 ised in the statement of co mprehensive income as foll ows

i) Revenue arising 白 om the spo l1 sorship is recogl1 ised on an accru al basis

ii ) Revenlle aris in 皂 白 o m donatio l1 s is recognised when the cash is received.

iii ) Government grants are recognised in the statement of tinancial position initially whe l1 there is reasonable assurance that they will be received and that the Association will comply with the conditions attaching to them. Grants that compensate the Association for expenses incurred are recogni sed as revenlle in the statement of comprehensive income on a systemati c basis il1 the same periods in whi ch the expenses are incurred

iv) Interest in come is recognised as it accrues lIsing the effective interest method

v) SlI ndry income is recognised when the Association has the right to receive

0) Translation of Foreigll Currellcies

Foreign cllrrency transactions during the year are translated at the foreign exchange rates rlllin g at the transaction dates. l\司 on e tary assets and li abilities denominated in fo reign cllrrencies and non-monetary assets and liabilities denominated in foreign currencies that are stated at fair vallle are translated at the foreign exchange rates ruling at the repol1ing date Exchange gains and losses are recognised in the statement of comprehensive in come

- 16 - HONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIATION FOR THE PHYSICALLY DlSAßLED (“Thc Associatioll") 香港殘疾人奧委會暨傷殘人士體育協會 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

2 Donations

2016 通i立 E巨星 H星星

GCllcral DOllatioll Standard Chaltered Marathon Donations 1,366,090 (b) 3,814,439 Standard ClJaltered COllllllunity Foundation 2014 500,000 Kingston International School 250,000 (a) Asia Standard Managelllent Services Limited 50,000 Kwok Tsz Lung 20,000 Chui Wai Wah 20,000 The Hong Kong Institute of Architects 14,64 1 Donation box at Plaza Hollywood 4,3 10 {易健草地滾球隊 4,4 10 Daniel Printing Company 3,000 3,000 Commercial Radio Productions Lim ited 1,221 543 Sta仟 of Deutsche 8ank AG, I-l ong Kong ßranch 1,08 0 Others 670 1,61 1 CLP Power I-long Kong Limited 40,000 Yu Kam Yuen, Lincoln 21 ,156 Stone Pole Limited 20,000 吳守基 1 ， 00 。 Charl11 ing Trims Company Limited 1 ， 00 。 Pri l11 e Concepts Limited 1 ， 00 。 Lam Chun Yin 臣 ， Martin 1 ， 00。 La l11 I-loi Tik, Edlllund 800

Snccilïc DOll31ioll

1. IWAS Wheelchair Grand Prix, I-l ong Kong 20 14 Kingston International School 250,000 (a)

2. Wheelchair ßasketball Training Programme - Poon I-l ai 99,800

- 17 - I-IONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIATION FOR THE PHYSICALLY DISAßLED (吋 he Associat 叩門香港殘疾人奧委會暨傷殘人士體育協會 NOTES TO T I-IE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

2 Donations (cont'd)

也i豆 2015 snccilïc Donation (cont'd) H巨星 巨星星

3 Han 且 Seng Private Bankin g Charity Dinner 1νi n ga Garment Factory 1 01 ， 00 。 - The Jigme Charitab le Foundation 50,000 - Hang Seng Bank Limited 43 ,000 - Hop Yuen Construction Li ll1 ited 42,000 - Choi Yip Leun 臣 ， Joseph 28,000 Tse Lin Chung 23 ,000 - S.H. Ho Foundation Limited 10,000 Chow Chue n Man 8,000

4 “Run for Paralympians" Call1 paign - Flying Pigs for Paralympians 428,071 - Lau Ming Wai 120,000 - Rotary Cl ub of Hong Kong Northwest 119,000 104,768 - Deutsche Bank AG , Hong Kong Branch 76,200 64,200 - Hong Kong Baptist Hospital 75 ,920 60,000 - Vtech Corporate Services Limited 62,000 - Chinese Estates Limited 6 1,500 - Chinese Est刮目 (Wi nd sor House) Limited 128 ,700 - 1CAP (HK) Limited 61 ,100 60,000 - Hogan Lovell s 60,000 63 ,320 - AlI iance Engineering Company Limited 60,000 60,000 Asia Standard Hotel Group Limited 60,000 - Asia Orient Holdings Limited 60,000 - CLP Power Hong Kong Lill1 ited 50,000 - Hoi Chak Properties Limited 60,000 - Hong Kong Fencing School 60,000 - Lau, Chan & Ko, Soli citors & Notaries 60,000 - Morgan Stanl ey Asia Internationa1 Limited 60,000 -PlIma Asia Pacitic Limited 60,000 60,000 - Royal Park Hote1 60,000 - Stone Pole Limited 60,000 - The Hong Kong Racehorse Owners Association Charitab1e Foundation Limi ted 60,000 60,000 - Whee lock and Company Lill1 ited 60,000 - Yata Limited 60,000 - Others 23 ,536 20,000 3,052,749 6,34 1,337

(a) A sllm of HK$1 ,000,000 received from Kingston International School has been split eq uall y of HK$500,000 each as donation in the tinancial yea悶 20 1 3/ 14 and 2014/15

(b) A sum of HK$200,000 rece ived from Standard Chartered Marathon has been allocated as donation for 1W AS As ian Championsh ips 2016 in the tinancial year 2016117

- 18 - 『 l

尸 lhFLHONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIA TION FOR THE PHYSICALLY DISABLED ("Thc Association") 香港直是疾人奧委會暨傷殘人士體育協會 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

C 3. 011川 ct 1…e 2016 2015 旦玉皇 丘蓋亞

Social Welfare Depal1ment - One-off all ocation 4,000 Social Welfare Department - Block Grant 40,399 57,100 Social Welfare Development FlInd 76,521 63 ,675 Others 66,498 5,203 187,418 125,978

4. Sponsorship Grants for Activitics 2016 也l互 HK$ E巨皇 Lcisurc and Cultural Scrviccs Dcpartment(“LCSD") lnternational Events Held Outside Hong Kong 2,379,895 2,038,176 National Sqllad Train ing Progralllllle 1,222,76 1 1,542,119 Mass Par1 icipation Tra ining Course 1,210,144 976,188 Feeder Progralllme - Training Schellle 202,004 221 ,560 Local Competition 167,534 87,250 Offìcial Training Progralllllle 66,383 48,575 AA (Part-time) for Feeder Programme & MPF Contriblltion 47,721 6 1,894 AlIdit fee for Annua l Accoll nts 49,500 49,500 Insllrance for Programmes 25 ,000 25,000 Admin istrative Expenses 135,000 215,000 Add itional Fund ing for Overseas Programme 276,229 Additional Fund i n且 for Pu rchase of Office & Sports Eqllipment 65 ,000 Use of Reserve Fund 182,40 1 6,029,572 5,265 ,262

Sports Fedcration & Olympic Committee ofHong Kong,

Incentive Awards 33 ,368 43 ,320 Hong Kong Annual WheeJchair Fenci ng Champ ionships for the Disabled 9,700 33 ,368 53 ,020

Arts and Sport Dcvelopmcnt Fund (“ASDF") Preparation FlInd for Rio 2016 Para Games 1,639,325 9th National Games for the Disabled 890,005 BISFed As ia and Oceania Boccia Team & Pairs Championshi ps 2015 800,000 Participation in the Incheon 20 14 Asian Para Games 3,134,802 Preparation Fund for the Incheon 2014 Asian Para Games 2,482,143 Local International Event 400,000 - IW AS Wheelchair Fencing Grand Prix, Hong Kong 2014 - Hong Kong Boccia Open Championships 2014 - Hong Kong Bad minton Invitation 2014 3,329,330 6,016,945

- 19 - IIONG KONG PARALYMPJC COMMJTTEE & SPORTS ASSOClATION FOR THE PHYSJCALLY DJSABLED (“The Association") 香港殘疾人奧委會暨傷殘人士越育協會 NOTES TO THE FU可 ANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016 r. 4. Sp…州 Gran剖叫川nB

也1豆 2015 旦旦E 且玉皇 Hong Kong Sports Institute Limitcd ("HKSIL")/ Hong Kong Coaching Committec (“HKCC")

Elite Traini ng Programme 1,500,000 1,440,973 Thanks Coach Scheme 10,000 10,000 Coaching Seminar 旦乏互 笠且旦 1,542,527 1 ， ~.~~P2.

The Hong Kong Jockey Club Charitics Trust Wheelchair Fencing Development Programme 50,713 50,713

Socia l Wclfarc Departmcnt (“SWD") - Hong Kong Paralympians Fund Subsistence Grant to Athletes 1,359,000 565 ,032 Development of Target Sports 894,452 734,644 Employment Facilitating Grant to Reti 月 d Athletes 63 ,000 2,316,452 .. !.l ~2.~，但主

Sir David Trench Fund for Recrcation Purchase of Wheelchair for Training Programme 50,521 Purchase of Shooting Target for Training Programme 互之旦 33 ,750 ~0 ，52l.

Others Entry Fee for BISFed Asia and Oceania Boccia Team & Pairs Championships 2015 9 17,307 Sprin g Dinner Entry Fee 57,516 4 1,676 Entry Fee fo r IWAS Wheelchair Fencing Grand Prix, Hong Kong 2014 1,81 1,70 1 Entry fee for Hong Kong Boccia Ope 11 Champi onsh ips 20 14 笠且堅 974,823 122.~.? 迎。

14,259,822 16,173,739

- 20 - I-1 0NG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIA TION FOR T I-IE PI-IYSICALLY DISABLED (“The Association") 香港殘疾人奧委會暨傷殘人士體育協會 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

5. Grants for Acquisition of Sports Equipment and Other Assets

且1豆 20 15 H且直 H星星

LCSD Reserve Fund 140,353 LCSD Additional FlInd for Sports Equ ipment 62,805 ASDF 9'" National Games for the Disabled 10,800 ASDF BISFed Asia and Oceani a Boccia Team & Pairs Championships 2015 32,480 ASDF Preparation FlInd for Rio 2016 Para Games 3 1,859 Sir David Trench Fu nd for Recreation 33 ,7 50 50,521 Social We lfare Department - B lock Grant 36,400 42,500 Donation received for purchase of wheelchail 99,800 ASDF Preparation Fund for the In cheon 2014 Asian Para Games 81,080 LCSD National Sqll ad Training 69,446 The Community Chest 旦旦旦 348,447 372,347

6. Expenditure on International Games, Trainings, Competitions and Conferences

20 16 20 15 H玉皇 HK$

BISFed Asia and Oceania Boccia Team and Pairs Championships 2015 1,728,655 9'" National Games for the Disabled 89 1,618 Asia n Para Archery Championships, Bangkok, Thail and 96,0 19 (c) World Archery Para C hampion s hi 戶， Donalleschin 且en ， 136,958 IPC Athletics Asia-Oceania Championships, Dub肘， UAE 9 1,631 (d) IP C Athl etics World Championshi ps, Doha, Qatal 95 ,084 (c) IPC Berlin Open Athl etics Grand Prix, Berlin, Germany 20,867 Italian Open Athletics Championships 2015, Grosseto, 60,0 16 BWFPa悶-Badm int on World C h ampions h 啊， Stoke Mandevill e, United Kingdom 42,566 Carlton Irish Para-Badminton In ternational, Dublin, Ireland 58,772 Ch ina Para-Badminton International2015, Beijing, China 47,987 In donesia Open Para-Badminton Champio n s h 中 ， 80 1 0 ， Indonesia 27,290 BISFed Colombia World Open Bocc 悶 ， Santiago de Cali , 457,234 (c) 們 Colombia luvlb BISFed Individllal World Championsh ips, Be iji n 皂 ， Ch ina 2 15,290 (d) BISFed World Open, Seolll, Korea 294,984 IPC Shooting , Bangkok, Thailand 14,773 (c) IPC Shooting World Cup, Fort Benning, USA 47,423

尸 1L

- 21 - HONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIA TION FOR THE PHYSICALL Y DISABLED (" Thc Association") 香港殘疾人奧委會暨傷殘人士體育協會 NOTES 1'0 THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

6. Expcnditure on International Games, Trainings, Competitions and Conferences (cont'd)

且1豆 2015 E巨星 旦巨星

IPC Shooting World C u1', Osijek, Croatia 123 , 161 IP C Shooting Wor1 d Cup, Sydney, Australia 96,773 2015 IB SA Wor1 d Games, Seoul, Korea 159,383 3,d Taichung Table Tennis O1'en for the Disabled 20 15, Taichllng, Chinese Taipei 16,342 ITTF PTT Asia Regional Cham pi onships, Amman, Jordan 136,767 (c) ITTF PTT Chi na O pen, Be ijin 耳 ， China 34,365 (c) ITTF PTT Thail and Open, Pattaya, Thailand 29,679 Korea Open - Table Tennis, U Isan, Korea 48,864 Table Tenn is Sloveni an Open & Slovakia Open 103 ,609 4 11h Noj igiku Cup Wheelchair Basketball Championship Tournament, Ja1'an 133,666 IWAS Wheelchai r Fenc ing Wor1 d C h a mpi o n s hi 戶 ， Eg帥 ， Hllngary 478,14 5 IWAS Wheelcha ir Fencin g Wor1 d Cllp, Eger, 255,367 (c) IWAS Wheelchai r Fencing Wor1 d Cup, Montreal, 276,375 IWAS Wheelchair Fenci ng Wor1 d C ll p, Paris, 127,645 (c) IWAS Wheelchair Fencing Wor1 d Cllp, Pisa, Italy 257,390 IWAS Wheelchair Fencing Wor1 d Cllp, Sllaljah, UAE 202,388 (c) IWAS Wheelcha ir Fencing Wor1 d C l 巾 ， Warsaw, 295,355 IPC Athletics International Classification Programme, Nottwil, Switzer1 and 23,580 Wo r1 d Archery International Classifier Conference, Donaueschingen, Germany 10,525 BWF Para-Badminton Research Project and Coach 明forkshop ， Paris, France 1,548 International Conference & Meetil1 gs 81 ,536 64 ,466 In cheon 2014 Asial1 Para Games, Il1 cheon, Korea 3,425,018 IWAS Wor1 d Junior Games 2014, Stoke Mandevil 峙 ， United Kingdom 232,126 A II China Archery Championships, Hangzholl, China 61 ,660 A II Chin a Athletics Championships, Beijing, China 33,953 (a) IPC Berlin Open Athletics Grand Prix, Berlin, Germany 39,693 (a) A II China Badmin ton Championships, GlIizhou, China 41 ,470 England Para-Badminton Championships, Loughborough, Un ited Kingdom 76,334 (a) Indonesia Open Para-Badminton Championship, Solo, lndonesia 90,342 V Spanish Para-Badminton lnternational, A lcudia, 44,243 BISFed Boccia World Championships, Beijing China 378,446 Hong Kong Boccia Open Championships 2014, Hong Kong 169,697 (b) AI I China Judo Championships, Fujian, China 10,9 16 (a)

- 22 且 J-I ONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIA TION FOR TJ-IE PI-IYSICALLY DISAßLED (“Thc Association") 香港殘疾人奧委會暨傷殘人士體育協會 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

6. Expcnditul"c on International Gamcs, Trainings, Compctitions a nd Confcrcnccs (cont'd)

2016 且12 旦旦旦 HK $

18D World C h a mpi o n s hi 戶， Wellington, New Zealand 526,327 AII China Shooting Championships, Shaanxi, China 35,741 IPC Shooting World Champi onships, SlIhl , Germ any 92,537 Canada ClIp/QlIébec Cup 20 14 - Swimming, Montreal, Canada 74,366 (a) 1" APTBF Championships, Bangkok, Thailand 173 ,886 ITTF PTT Thail and Open, Pattaya, Thailand 59,393 ITTF PTT World Championships, Be iji n 巴， China 65 ,258 Goyang Mayor's Cup for the 20,h Holt Intern ational Wheelchair Basketball Tournament, Goyang, Korea 106,463 1" 2014 Soochow Uni versity First lnternational Wheelchair Basketball TOllrnament, Taipei, Chinese Taipei 25,404 IW AS Wheelchair Fencing Grand Prix, Montreal, Canada 145,312 IWAS Wheelchair Fenci ng World ClIp, Lonato, Ita ly 273,246 (a) IWAS Wheelchair Grand Prix, Warsaw, Poland 33 1,04 1 (a) IWAS Wheel 巳 hair Fencing World Championships (Under 23), Warsaw, Poland 83 ,034 IWAS Wheelchai r Fencing World Cup, Eger, HlIngary 9 1,343 IWAS Wheelchair Fencing Grand PI 間， Hong Kong 2014 2,327,550 (b) 22 吋 Q lI a drang lllar Meet 20 14, Guan gzhou, China 11 ,654 2014 AII China Athleti cs Technical Official Course, Be ijin耳 ， China 4,11 7 1nternational Boccia Classi fi er Training, Beiji n 巴， China 12,000 7,219,630 9,107,036

(a) Sponsorship received fro l1l ASDF - Preparation Fund fo r the 1ncheon 2014 Asian Para Games (b) Sponsorship received from ASDF - Local International Event (c) Sponsorship received from ASDF - Preparation FlInd for Rio 2016 Para Games (d) Sponsorship received 品。 m LCSD - Additional Funding for Overseas Progral11l11 es

7. EX]lcnditure on Hong Kong Com]letitions 20 16 2015 HK$ HK$

I-I K Annual Archery Championships for the Disabled 2 1,859 15,292 HK Annllal Athletics Championships for the Disabled 45,840 38,429 HK Annual Badminton Championships for the Disabled 17,505 16,883 (a) I-IK Annllal Boccia Championships for the Disabled 8,530 10,566 HK Annual Lawn Bowls Championships for the Disabled 9,253 HK Annual Swimming Championships for the Disabled 6,465 5,770 HK Annual Table Tennis Championships for the Disabled 16,19 7 17, 193 HK Annllal Wheelchair Fencing Champi onships for the ( L ) Disabled 11 ,490 11 ,433 U 137,139 115,566

- 23 - HONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIA TION FOR THE PHYSICALLY DISABLED (“The Associat ion ") 香港或疾人奧委會暨傷殘人士體育協會 NOTES TO THE F且可 ANCIAL STATEMENTS FOR TI-IE YEAR ENDED 31 MARCH 2016

7. Expenditure 011 Hong KO lIg COlllpetitions (COllt'(\) l ~ (a) Sponsorship received from ASDF - Local International Event (b) Sponsorship received from SF & OC

8. Expenditure 011 Trainillg Prograllllllcs, COlltinuous Activities alld Special Progral11l1les

且i豆 2015 豆豆星 HK$

Social Welfare Depaltment - Hong Kong Paralympians Fund - Subsistence Grant to Athletes 1,359,000 565,032 - Development of Target Sports 960,623 767,192 - Employment Facilitating Grant to Retired Athletes 63 ,000 ASDF - Sustaining Optimal Performance Programme 917,521 ASDF - Stri vin g for Excellence Programme 1,261 ,279 ASDF - Preparation Fund for Rio 20 16 Para Games 219,682 l-I KSIL Elite Training Programme 1,505,338 1,440,973 LCSD Mass Palticipation Training Course 931 ,675 1,025 ,198 LCSD Feeder Programme 179,164 172,550 Nati onal Squad Training 1,476,327 1,550,486 Development Programme 535 ,027 470,244 Year Round Programme 131 ,177 128,169 Thanks Coach Scheme 10,470 10,470 Coaching Seminar 32,527 44,149 Staff Retreat 20,768 Spl 川 g Din nel 117,429 114,113 Audit fee fo r LCSD Annual Accounts 50,000 50,000 Athletes Licence Fee 2,678 2,934 PlIrchase of Wheelchairs 62 ,805 150,32 1 PlIrchase of Shooting Eqllipment 142,800 Underprovision in prior years 30,887 16,205 Wheelchair Fencing Development Programme 50,713 Preparation for the Incheon 2014 Asian Para Ga l11 es 旦旦 ， 702 8,748,898 9,472,730

- 24 - HONG KONG PARALYI\咀PIC COMMITTEE & SPORTS ASSOCIA TION FOR THE PHYSICALLY DlSABLED (“The Association") 香港殘疾人奧委會暨傷殘人士體育協會 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

9 Admillistration and Gcneral Costs

2016 且.li 旦玉皇 E蓋亞

AlIditor's Remll l1 eration 16,200 21,200 Contri butiol1 to Mandatory Provident Fund 238,75 1 227,3 14 Depreciatio l1 23 ,023 23 ,061 Electricity, Telephone and Watel 83 ,184 80,786 Equipment Consum ab les and Ma intenance 71,477 66,093 IT Support Expenses 49,890 56,195 Newsletters 17,600 10,586 Other Expenses 678,445 342,037 Professional Fees 2,7 50 46,690 Promoti on of Activities 55 ,000 63 ,800 Provision fo r Gratui ty 119,617 38,640 Rent, Rates and Insurance 653,605 6 14,160 Sa lari es 4,7 17,736 4,408,249 Statiol1 ery, Prin ti ng and Postage 99,20 1 87 ,040 Subscri ptions 68,0 15 74,349 Social Welfa re Development Fun d 55 ,753 63 ,675 Social We lfare Department - 8 10ck Grant 40,399 57,100 Travell ing and Liaison Expenses 83 ,985 67,525 Van RlInning Expenses 159,067 11 5,309 PlIrchase ofOffice Equip ment 46,930 PR and Marketing Expenses/Fund Ra isin g Campa ign 142,233 478,950 Underprovision in pri or years 148,104 39,684 7,570,965 6,982,443

10 Taxatioll

The Association is exempt fro m profits tax lInder the prov isions of Secti on 88 of Hong Kong Inlal1 d Revel1 ue Ordinal1 ce

11 . Exccutivc COlllmittcc MClllbers' Rcmuncration

Executi ve committee members' remu l1 eratiol1 disclosed pllrsuant to Secti ol1 383 ofthe Hong KO l1 g Compan ies Ordinance and Part 3 of the Compa l1 ies (D isclosure of 1l1formatiol1 abollt 8enefits of Directors) Regulation is as fo ll ows

IL電 20 16 20 15 旦旦旦 巨星星

尸 Execlltive committee members' fees luplL Salari es, all owances and benefits in kin d Discretionary bOl1 uses Retiremel1t scheme contributions

- 25 - HONG KONG PARALYMPJC COMMITTEE & SPORTS ASSOCIATION FOR THE PHYSICALLY DISAßLED (“The Association") 香港殘疾人奧委會暨傷殘人士體育協會 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016 nzu 句 PA 。 你 DAl AU uι ， v­o ny a nt a 自苟且u nrIL• nEρL "M @‘ L iw , • 'Q勵

.n 」 ρ 戶 O El t ρ L』 Lw H u l 1 - v Motol 血過旦旦且盟l主 組且且型時主 Eql叩且姐1 vehicles Tota! 日屋里 且星星 HK$ 旦旦旦 HK$ Cost Atl/4/20 15 187,853 58 180,311 964,917 1,333 ,139 Additions dll ring the year 362,367 362,367 Grant applied again st cost of property, plant and eqllipment 一一一一 」且也.'!2L 一一一一-- -(且包ill At 31/3/2016 187,853 一一一三L 」些且L 一」盟主立 」主旦旦旦

Accumulated Depreciation a nd Impairment Losses At 1/4/20 15 (187,852) (117,825) (964,915) (1 ,270,592) Charge for the year (23,023) 一」旦旦旦 At 3 1/3/2016 旦旦巫且 一一一一二一」且生坐坐--.J也旦旦 i旦旦旦旦

Net ßool< Value As at 31/3/20 16 58 -i且主ι 2 53 ,444

Leasehold FU l11 itllre Motol 也且也包盟11主 組且2型且E 包也阻盟芷 vehicles Total H旦旦 旦旦旦 旦巨星 旦旦旦 H巨星 Cost At 1/4/2014 187,853 58 166,099 964,917 1,318,927 Additions dllring the yeal 391 ,174 391 ,174 Grants applied against cost of propelty, p!ant and eqllipment (372,3 47) (372,347) Written off 一一一一一一」也斗 一----.c生旦旦 At 3 1/3/2015 187,853 一一 58 1 盟主L 一旦旦旦L 」斗笠且主

Accumulated Depreciation and Jmpairment Losses At 1/4/20 14 (187,852) (99,379) (964,915) (1 ,252,146) Charge for the year (23,06 1) (23 ,061) 明Iritten back 一~豆 15 一一」至 15 At 3 1/3/2015 立且主旦i 一一一一一( 117 ， 盟主L ---.i盟主且主 i旦旦三旦i

Net Bool< Value As at 3 1/3/2015 58 62,486 2 62,547

- 26 - I-IONG KONG PARALYMPIC COMMlTTEE & SPORTS ASSOCIATION FOR TI-IE P I-IYSICALLY DISABLED (“Thc Association") 香港成疾人奧委會暨傷殘人士體育協會 NOTES TO TI-IE FINANCIAL STATEMENTS FOR TI-IE YEAR ENDED 31 MARCI-I 2016 nlh 司 官宣 J ρLW nu Ma u 句 冒且 v 的 mat­ co

必i豆 且12 巨星E H巨星

Held-to-maturity debt securities 5,782,503

The held-to-maturity debt securities matured duri l1 g the yeal

14 Invcntories

也i豆 且12 豆豆皇 巨星且

SOUVe l1 il 27,600 Ties 3 1,104 33,024 Ul1 iforms 190,120 58,7 04 223,144

15 Receiva blcs

A I1 the receivables are expected to be recovered 01' recogl1 ised as al1 expense w ithi l1 ol1 e year

At 31 March 2016 a l1 d 2015, 110 l1 e of the Associat ion's receivables were il1di vidua l1 y 01 col lectively determi l1 ed to be impaired. The Associatiol1 does 11 0t hold a l1 y co l1 ateral over these balal1 ces

16 Cash and Cash Equivalents

2016 2015 HK$ 巨星星

Deposits with banks 14,741 ,143 9,362,913 Cash at ba l1 ks and il1 hal1 d 7,029,814 5,430,873

Cash and cash equivale l1 ts in the stalement of financial position 21 ,770,957 14,793,786 Less: Deposits with banks with maturity more than 3 months at acquisition (14,741 ,143) (6,062,121)

Cash and cash equivalents in the statement of cash f1 0ws 7,029,8 14 8,731 ,665

- 27 - HONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIA TION FOR THE PHYSICALL Y DISABLED (吋 he Association") 香港殘疾人奧委會暨傷殘人士體育協會 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

16 Cash and Cash Equivalents (cont'd)

In clllded in cash and deposits w ith banks are lhe fo ll owing amollnts denominated in currencies other than lhe Associati on 's fllnctional Cllrrency

必l豆 2015

Great Britain POllnds (“GBP") GBP 9,941 GBP 14 ,949 Allstral ian Dollars (“AUD") AUD 664 AUD 404 ElIro (“EUR") EUR 47,791 EUR 68 ,972 United States Dollars (“USD") USD 1,962,230 USD 19,996 Renm inbi (“RMB") RMB 62,995 RMB 7,600,795 Canadian Dollars (“CAD") CAD CAD 64 Si ngapore Dollars (“ SGD") SGD SGD 52 Thai Baht (“THB") THB THB 8,85 1 Po lish Zlotych (“ PLN") PLN 120 PLN 120 HlIngarian Forint (“HUF") HUF HUF 6,000

17 Accounts and Other Payables

AIl the accollnts and other payables are expecled to be sett led within one year

18. Reccipts in Advance

且l五 2015 旦玉皇 E玉皇

Membership Fee 300 40 LCSD Block Grant Reserve 1,644,363 1,815,292 Entry Fee for IWAS Asian Wheelchair Fencing Championships 2016 387,852 ASDF - Preparation Fund for Rio unspent balance carried forward to 2016117 1,222,000 ASDF - IW AS Asian Wheelchair Fencing Championships 2016 800,000 Social Welfare Development Fund - Phase II 354,508 259,303 Social Welfare Department - Block Grant Subvention 5,283 9,682 - Provident Fund Reserve for 6.8% Post & Others 418,070 351 ,932 - Provident Fund Reserve for Snapshot Staff 9,250 6,029 Donation from Standard Chartered Marathon 2016 fo r IWAS Asian Wheelchair Fencing Championships 2016 200,000 Entry Fee for BISFed Asia and Oceania Boccia Team & Pairs Championships 2015 120,187 5,04 1,626 2,562,465

- 28 - HONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIA TION FOR THE PHYSICALLY DISABLED (“The Association") 香港直是疾人奧委會暨傷殘人士體育協會 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

C 19. Ath1et叫ai 叫

Athletes training reserve is set up specifi ca l1y for sponsoring expenses for the training of ath letes

20 Paralympic Gamcs Rcservc

Pa ralympic ga mes reserve is set up specifica ll y for financing paralympi c events in the future

21. Capita1 Reserve

Capital reserve is set up specifica l1 y fo r financing the Association's capital expenditure. Such reserve was fu nded by surplus for the yeal

22. Capital Managemcnt

T he Association's primary obj ecti ves when managing capital are to safeguard the Association's ab i1ity to continue as a going concern. The Association defines “capita1" as incJ uding a l1 components of reserves

The Association's capita1 structure is regul arly reviewed by the executive co mmi杜ee members

Adjustments are made to the capital structure in li ght of changes in economic conditions a 仟ect ll1 g the Associati on, to the extent that these do not conflict with the executive comll1 ittee Ill e mbe峙， duties towards the Association

There has been no change in the Association's capita l management practices as compared with those of prior years and the Association is not subj ect to any externa l1 y illlposed capital req ulrements

23 Financial Risk Managemcnt and Fair Va1ues of Financia1 Instrumcnts

Exposure to financial ri sks arises in the norlllal course of the Association's activities. These ri sks and the fi na nciaJ risk management poli cies and practices used by the Association to manage th ese ri sks are described below

Credit risk

The Association's credit risk is primarily attributabJe to accounts receivables, deposits and payments in advance, cash and deposits with banks and debt instruments. The Association has a credit poli cy in place and the exposures to cred it risks are monitored on an ongo ing basis. The Association's cash and deposits with banks are placed with m句 or fin ancial institutions. Investments in debt securiti es are with counterparties with sound cred it standing. Given the hi gh credit sta ndin 島， Illanagelll ent does not expect the co unterpa 此Y to fai1 to meet its obligations

- 29 - HONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIATION FOR TI-IE PI-IYSICALLY DISABLED (“1 、 hc Associat i on") 香 港殘疾人奧委會暨傷殘人士體育協會 NOTES TO TI-IE FlNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

C 23 川 C 叫

a) Credit risk (collt'd)

The maximum exposure to cred it ri sk is represel1 ted by the carryil1 g amou l1 t of each fi l1 ancial asset in the statemel1 t of financial positiol1 after ded uctil1 g any im pa irme l1 t allowance. The Associatiol1 does 11 0t provide al1 y guaral1tees whi ch would expose the Association to credit ri sk

b) Liqllidity risk

The Associatio l1 ' s poli cy is to regu larly mOl1 itor its currel1 t al1 d expected liability requiremel1 ts to el1 sure that it mai ntai l1s sufficient reserves of cash to meet its liquidity requiremel1 ts il1 the shol1 al1d longer tenn

The earliest settlemel1 t dates of the Associatiol1 ' s fi l1 al1 cial li abilities at the reporting date are all withi l1 ol1 e year or 011 demal1 d al1 d th e cO l1 tractu al amoul1 ts of th e financial liabilities are a ll equal to their carryil1 g amoun ts

c) Foreigll cllrrellcy risk

Apart from certail1 deposits with ba l1 ks and il1 vestmel1 ts il1 debt securi ties which are del1 om il1 ated il1 GBP, AUD, EU I丸， CAD, SGD, THB, PU址， HUF, USD and RMB as disclosed il1 notes J 3 al1 d J6 , the Association has no significant exposure to forei gn currency risk as the Associat ion's Iransacti ons are mainly denominated in Hong Kong doJJ ars. As the Hong Kong Do JJ ars is pegged to the USD, the Association considers the ri sk of movemenls in exchange rates between th e Hong Kong DoJJars and the USD 10 be insignificant. The Associatioll ensures that the exposure for other currencies is kept at an acceptable JeveJ

Exposure to currel1 cy ri sk

The fol lowin g lable deta iJ s the Association's exposure at the reporting date to currency ri sk aris in g fro m recognised assets denom in ated il1 a currency other than the Associati on's fUl1 cti onal currency of Hong Kong Do JJ ars. For presenlat ion purposes, the amoullts ofthe exposure are expressed in Hong KO l1 g Doll ars

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- 30 - rJ 「可 「可 ~ 一 t可 ‘"- .. 一

HONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIATION FOR THE PHYSICALLY DISABLED (“The Association") 香港殘疾人奧委會暨傷殘人士體育協會 NOTES TO THE FU可 ANCIAL STA TEMENτs FOR THE YEAR ENDED 31 MARCH 2016

23 Financial Risk Management and Fair Values of Financial Instruments (cont'd)

c) Foreigll Cllrrellcy risk (colIl'd)

Exposure 10 currency risk (conl'd)

20 16

USD GBP AUD EUR R如18 CAD SGD THB PLN HUF

Cash and Cash equivalents 14,79 1,164 11 0,539 3,942 419,770 75,472 246 Net exposure to c uπe ncy ri sk 14,791,164 110,539 3,942 419,770 75,472 246

20 15 USD GBP AUD EUR RMB CAD SGD THB PLN HUF

Other non-cuπent tinancial assets 1,899,394 3,883 , I 09 Cash and Cash equivalents 154 ,92 1 171,292 2,387 575,986 9,502,388 388 293 2,109 246 169 Net exposure to cuπency ri sk 2,054,3 15 171 ,292 2,387 575,986 13,385 ,497 388 293 2,109 246 169

- 3 1 - HONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIATION FOR THE PHYSICALLY DISABLED (“Thc Associatioll") 香港殘疾人奧委會暨傷殘人士體育協會 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

C 23. F…

c) Foreigl/ cllrrel1cy risk (COIlI'd)

ii) Sensitivityanalysis

The fo ll owing table indicates the instantaneous change on the Association's surplus and general fund that wou ld ari se if foreign exchange rates to which the Association has sign ificant exposure at the rep01ting date had changed at that date, assu ll1 ing a ll other risk variables re ll1 ained constant. In this respect, it is assumed that the pegged rate between the HK$ and the USO would be ll1ateri ally unaffected by any changes in 1l1 0vement in valu e ofthe USO against other currencies

20 16 2015 Increase/ 1ncrease/ (decrease) Effect on (decrease) Effect on in foreign surplus and in foreign surplus and exchange general exchange 且e n eral rates fund rates fund AUO 5% 197 5% 119 (5%) ( 197) (5%) ( 119) EUR 5% 20,989 5% 28,799 (5%) (20,989) (5%) (28,799) RMB 5% 3,774 5% 669,275 (5%) (3 ,774) (5%) (669,275) CAO 5% 5% 19 (5%) (5%) ( 19) SGO 5% 5% 15 (5%) (5%) (15) THB 5% 5% 105 (5%) (1) (5%) (105) GBP 5% 5,527 5% 8,565 (5%) (5 ,527) (5%) (8,565) PLN 5% 12 5% 12 (5%) (12) (5%) (12) HUF 5% 5% B (5%) (5%) ill

The sensitivity analysis assull1es that the change in foreign exchange rates had been applied to re-ll1easure those financial in strull1ents whi ch expose the Association to foreign currency risk at the reporting date. The analysis is perfonned on the sa ll1e basis for 2015.

rurLrLd) F的r values

AII financial instrull1ents are carried at all10unts not ll1 aterially different froll1 theil‘ fair、 values as at 3 1 March 2016 and 2015 due to the sholt-tenn mat叫 iti es of these assets and liabilities

- 32 - 『 EI

尸 ILnlbHONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIA TION FOR THE PHYSICALLY DISABLED (“The Association") 香港殘疾人奧委會暨傷殘人士體育協會 NOTES TO THE FII可 ANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

C 24. Operati 的叫 ommitment At 31 March 2016, the total future minimum lease payments under non-cancellable operating leases in respect of rented premises are payable as foll ows

且i豆 且i三 巨星星 巨星星

With in one yeal 118,576 131 ,185

The Association is the lessee in respect of a 1111mber of propelties held under operati ng leases. The leases typically run for an initial period ranging from two to three years, at the end of which pe ri od a ll tenns are renegotiated. None of the leases incllldes contin gent re ntals

- 33 - HONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIATION FOR THE PHYSICALLY DISAßLED ("Thc Assoc 叫ion") 香港殘疾人奧委會暨傷殘人士體育協會 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

Anncx Il

25 Usc of thc Social Wclfarc Dcvclopmcnt Fund (S\月IDF) Phasc 2 fUlldcd by Lottcl"ics Fund for thc Fillallcial Year 2015-16

Nallle ofNGO : HonE KonzParaMI11 t3ic COllllllittee & Soorts Association for the Phvsicallv Disabled

Code of NGO :-..9.豆立

Particulars $ $ (a) I 8alance of SWDF 伽b rOL叫uψ t fOl。叫rw附a盯昕蚓吋rcd: 273 ,025 .3 6 -;"，月~'.'， ，~， .i.，:，;~，它:;7':;~ ;;:、..~; (b) Allocation fro l11 SWDF during the financia l yeal 土長對jfJi 158,000.00

(巳) Interest received durin g th e financial year ", ~.、 3.4 2

(d) Expenditure under SWDF during the yeal

Expenditure for projects under scope A

2. Expenditure for projects under scope B (non-[T) 0.00

3 Expenditure for projects under scope B ([T) 0.00

4. Expenditure for projects under scope C 0.00

5 Expenditure for adlllinistrative support 。。。 I Total expenditure during the financial year :

(e) I 8alance carried forward to 伽 next financial yeal 354 ,508.27 (e) = (a) + (b) + (c) 一 (d)

The above expenditures under the SWDF have been incurred in accordance with the require l11 ents st ipulated in SWDF Guidance Notes for Application, SWD's approvalletter(s) and the procurel11 ent of projects and services are in line with the procedures specified in the Lotleries Fund Manual

- 34 - HONG KONG PARALYMPIC COMMIT1'EE & SPOR1'S ASSOCIATlON FOR 1'HE PI-I YSICALLY DISABLED ("Thc Association") 香港殘疾人奧委會暨傷殘人士蝕育協會 N01'ES 1'0 1'HE FINANCIAL S1'A1'EMEN1'S FOR 1'I-IE YEAR ENDED 31 伽1ARC I-I 2016

Appendix A

26. Movement of the Furniture and Equipll1ent Replenish ll1ent and 恥1inor Wori甘 ßlock Grant Reserve

旦旦旦 旦旦旦

8alance of 8 10ck Grant Reserve brought forward from previous financial year 9,682.00

Add: 810ck Grant received duri ng the yeal 36,000.00 Interest income received O\her income 36,000.00

Less: Expenditure during \he year (Note) Minor Works Projec\s Furniture & Equipment 40,399.00 Vehi cle Overhauling (40,399.00) 5,283.00 Contribution 自 om NGO to cover the deficit (if any) 8alance of 810ck Grant Reserve carried forward to the next financial yea l 5,283.00

Capital Comll1itll1ents

As a\ 31 March 2016, the outstanding commitmen\s in respect of Furniture & Equipment Replenishmen\ and Minor Works Grant were as fo ll ows : H旦旦 Contracted for but not provided in the financial statements Authorized but not contracted fOl

主ote Expenditure charged 10 Block GIα171 duril7g the year should be full expel7 diture amollnt, i. e. the actual expenditure incurred in 2015-16

- 35 - r---:: r--::: 「可 「可「可

HONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIATlON FOR THE PHYSICALLY DISABLED ("Thc Association") 香港殘族人奧委會聾借錢人士體育協會 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016 Appcndix B (P. 1 of 2) 26. Dctails of thc Usc of Furniturc & Eq 山 pmcnt Rcplcnishmcnt and 心 linor 、Vorks 810εk Grant

(a) (b) Expend Îlurc În the ycar 2015-16 Outstanding CO ll1l1lÎtments as at 31 March 2016 - Contracted for but not provid吋 und 前 Colullln (a)

Itcm Nalllc ofthc Scrvicc Naturc Fumiturc Minor Vchicle Ovcrhauling Tolal Fumiturc Minor Vehicle TOlal ou tstanding No SWD-s ub vcnt吋 (c.g. Shcltcr and Works ( Rc且 i s trati o n No E且 pcnditurc and Equipmcl1 t Works Overhauling COllunitmcnt Unit (No!c 1) Workshop) Equipment provid 吋) (Note 2)

($) ($) ($) ($) ($) ($) ($) ($)

H K Paralympic Co mmitt回 Sports Organization 40,399.00 40.399.00 & Sporls Association for fo r Ph ys ically thc Ph ys 自 ca ll y 口 的 ab l ed Di sabl 吋

川叫-.， Initials ofGcneral Sccrclary Datc Z3 AUG 2016

36 ,...... , 一 r-: rJ r-:: r-:-J 一

flONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIATION FOR TflE PflYSICALLY DISABLED ("Thc Association") 香港殘疾人奧委會暨傷殘人士體育協會 NOTES TO TflE FINANCIAL STATEMENTS FOR TflE YEAR EN DED 31 MARCfl2016

Appcndix B (P. 2 of2)

26. Details of thc Usc of Furniturc & Equipmcnt Rcplcnishmcnt and Minor 、Norks Block Grant (co n t ' 的

(0) (b) Expcnditure in thc ycar 2015-16 Outstanding Comm Îtmcnts as at 3 1 March 20 16 - Co n t ra ct吋 ror bul 11 01 provÎd 吋 undcr Column (a)

Item Name ofthc Scrvicc Naturc Fumilure Minor Vehiclc Ovcrhaul îng Total Fumiturc Minor Vchi clc Total outstanding No SW D-sub vcntcd (e.g. Shcltcr and 、N ork s { Rcgistration No. Ex pendilll 間 and Equipmcllt Works Ovcrhauling Commitment Uni t (Nolc 1) Wo rkshop) Equipment prov id 吋) (Notc 2)

(5) (S) ($) (S) ($) ($) ($) ($)

HK Paralympi c CO lTI mitt自 Spons Organi zation & Spo叫 5 Association for for Physica l1 y th c Physically Disabled Di sabl ed

Total (Notc4) 40,399.00 40,399.00

In pu rsuancc or partl!,'faph 4.4 .4 of thc LOllc ri 且 Fund (LF) Manual, wc forward h 甘ewit h th c sc hα1ulc showing thc usc or Fumiture and Equipmcnt R叩 I cni s hm enl and Minor \Vorks 810ck Gra圳 、，Vc also CO l1 finnthat cxpcnditure from thc ßlock Gran t has bcen in clIrrcd in accord ancc with thc prov 的 i o n s of thc LF Manllal

Z3 AUG 2016 7 人Mr. Martin Lam Gencral Sccrctary Dat c

37 HONG KONG PARALYMPIC COMMITTEE & SPORTS ASSOCIATION FOR THE PHYSICALLY DISABLED ("Thc Association") 香港成疾人奧委會暨傷殘人士體育協會 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

27. Limitation of Liability

Under the provisions of the Association's memorandllm of association, every member of the Association shall, in the event of winding up, be responsible for the debts and liabilities of the Association to the extent of HK$I 00 per membe,

28. Possiblc Impact of Amcndmcnts, Ncw Standards and Intcrprctations Issued but Not Yet Effcctive fo 叫 he Year Ended 31 March 2016

Up to the date of issue of these financial statements, the HKICPA has issued a number of amendments, new standards and interp悶 tations which are not yet effective for the year ended 31 March 2016 and which have not been adopted in these financial statements

The Association as a charitable organisation is in the process of making an assessment of what the impact of these amendments, new standards and new interpretations is expected to be in the peri od of initial application. So far it has concluded that the adoption of them is lInlikely to have a sign ificant impact on the Association's reslllts of operations and financial position

29. Comparative Fig 山-es

Certain comparative figllres have been reclassified to conform with the Cll lTent year's presentation

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