Page 93 - Annual Report

HONG KONG ACADEMY OF MEDICINE
院
學
學
醫
港
科
專
香 香港醫學專科學院
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

13. PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES

2022 2021
HK$ HK$

Bank interest receivables 334,307 80,478
Deposits 56,603 56,603
Deposit paid to building management company 800,000 800,000
Function fee receivable 5,633,527 2,481,988
Prepaid expenses 1,251,892 909,408
Receivable from associations, government authorities
and independent third parties arising from
academic functions 2,423,037 2,290,147

10,499,366 6,618,624

Except for deposits of HK$856,603 (2021: HK$856,603), 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

2022 2021
HK$ HK$

Time deposits with original maturity of
three months or less 36,219,081 5,019,778
Cash at bank and on hand 8,614,271 17,904,922

44,833,352 22,924,700

Time deposits with original maturity
- Over three months 23,762,077 54,521,552

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:

2022 2021

United States Dollars 491,308 489,242
Renminbi 302,723 298,484

15. ACCRUALS AND OTHER PAYABLES

2022 2021
HK$ HK$

Accrued expenses payable to building management
company (1,375,244) (1,296,685)
Other accrued expenses (6,131,181) (4,624,670)

(7,506,425) (5,921,355)

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香港醫學專科學院 2023 年度報告 91