Page 90 - 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

23. ACADEMY’S STATEMENT OF FINANCIAL POSITION

Note 2020 2019
HK$ HK$

Non-current assets
Property, plant and equipment 32,489,784 35,040,988
Investments in equity instruments
designated at fair value through
other comprehensive income 5,478,808 33,874,705
37,968,592 68,915,693
Current assets
Inventories – general merchandise 191,667 200,639
Prepayment, deposits and other
receivables 4,693,299 8,180,137
Amount due from a special purpose entity 18,200 18,358
Time deposit 40,520,292 10,049,207
Cash and cash equivalents 12,574,843 30,547,285
57,998,301 48,995,626
Current liabilities
Receipts in advance 120,810 4,600
Accruals and other payables 4,580,257 9,145,295
(4,701,067) (9,149,895)

Net current assets 53,297,234 39,845,731

Net assets 91,265,826 108,761,424

Reserve and funds 16
Fair value reserve (1,229,270) 7,467,254
General fund 92,495,096 101,294,170

91,265,826 108,761,424

Approved and authorised for issue by the Council on 15 July 2021.

On behalf of the Council

Prof. Gilberto Ka-Kit Leung Prof. Eric Wai-Choi Tse
President Honorary Treasurer

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88 HKAM Annual Report 2021