Page 84 - Annual Report

HONG KONG ACADEMY OF MEDICINE
香港醫學專科學院
科
學
港
專
香
院
學
醫
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

13. PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES

2021 2020
HK$ HK$

Bank interest receivables 80,478 113,770
Deposits 56,603 84,760
Deposit paid to building management company 800,000 800,000
Function fee receivable 2,481,988 836,426
Prepaid expenses 909,408 1,283,575
Receivable from associations, government authorities
and independent third parties arising from
academic functions 2,290,147 1,581,959

6,618,624 4,700,490

Except for deposits of HK$856,603 (2020: HK$884,760), 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

2021 2020
HK$ HK$

Time deposits with original maturity of
three months or less 5,019,778 15,692,188
Cash at bank and on hand 17,904,922 8,280,548

22,924,700 23,972,736

Time deposits with original maturity
- Over three months 54,521,552 44,016,085

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:

2021 2020

United States Dollars 489,242 487,419
Renminbi 298,484 293,542

15. ACCRUALS AND OTHER PAYABLES
2021 2020
HK$ HK$

Accrued expenses payable to building management
company (1,296,685) (1,852,779)
Other accrued expenses (4,624,670) (2,743,476)

(5,921,355) (4,596,255)

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82 HKAM Annual Report 2022