Page 82 - Annual Report

HONG KONG ACADEMY OF MEDICINE
香港醫學專科學院
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

13. PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES

2020 2019
HK$ HK$

Bank interest receivables 113,770 126,357
Deposits 84,760 72,268
Deposit paid to building management company 800,000 900,000
Function fee receivable 836,426 991,413
Prepaid expenses 1,283,575 1,952,184
Receivable from associations, government authorities
and independent third parties arising from
academic functions 1,581,959 4,180,808

4,700,490 8,223,030

Except for deposits of HK$884,760 (2019: HK$972,268), all of the prepayments, deposits and
other receivables are expected to be recovered within one year.

The Group’s credit policy is set out in note 19(a).

14. TIME DEPOSITS AND CASH AND CASH EQUIVALENTS

2020 2019
HK$ HK$

Time deposits with original maturity of
three months or less 15,692,188 10,052,932
Cash at bank and on hand 8,280,548 21,283,668

23,972,736 31,336,600

Time deposits with original maturity
- Over three months 44,016,085 23,944,434

Included in cash and cash equivalents are the following amounts denominated in a currency
other than the functional currency of the entity to which they relate:

2020 2019

United States Dollars 487,419 481,464
Renminbi 293,542 292,208

15. ACCRUALS AND OTHER PAYABLES
2020 2019
HK$ HK$

Accrued expenses payable to building management
company (1,852,779) (2,805,653)
Other accrued expenses (2,743,476) (6,215,827)
Salary payables - (140,313)

(4,596,255) (9,161,793)

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80 HKAM Annual Report 2021