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CHINESE SWIMMING CLUB
Notes To The Financial Statements For The Financial Year Ended 31 December 2022
28. LEASES Club as a lessee
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The Club has lease contracts for equipment and machines. The Club’s obligations under these leases are secured by the lessor’s title to the leased assets. The Club is restricted from assigning and subleasing the leased assets.
(a) Carrying amounts of right-of-use assets classified within property, plant and equipment
(b) Lease liabilities
The carrying amounts of lease liabilities (included under borrowings) and the movements during the financial year are disclosed in Note 16 and the maturity analysis of lease liabilities is disclosed in Note 4.
(d) Total cash outflow
The Club had total cash outflows for leases of $71,921 in 2022 (2021: $62,856).
