Page 95 - Annual Report

HONG KONG ACADEMY OF MEDICINE
香 港 醫 學 專 科 學 院
香港醫學專科學院
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

15. DEFERRED INCOME
2023 2022
HK$ HK$

Current
Grant received from government 2,661,160 5,173,703
Grant received for research in genomic medicine 473,912 -
Others 88,830 412,733

3,223,902 5,586,436

Non-current
Grant received for research in genomic medicine 1,876,632 -

5,100,534 5,586,436

16. RESERVE AND FUNDS

Movements in components of reserve and funds

The reconciliation between the opening and closing balances of each component of the Group’s
consolidated reserve and funds is set out in the consolidated statement of changes in reserve and
funds. Details of the changes in the Academy’s individual components of reserve and funds between
the beginning and the end of the year are set out below:

The Academy

Fair value General
reserve fund Total
HK$ HK$ HK$

At 1 January 2022 (1,774,038) 85,497,620 83,723,582

Deficit for the year - (9,385,043) (9,385,043)
Other comprehensive loss
Investments in equity instruments designated at fair
value through other comprehensive income:
Changes in fair value (451,038) - (451,038)

Total comprehensive loss for the year (451,038) (9,385,043) (9,836,081)

At 31 December 2022 and 1 January 2023 (2,225,076) 76,112,577 73,887,501

Surplus for the year - 10,030,485 10,030,485
Other comprehensive income
Investments in equity instruments designated at fair
value through other comprehensive income:
Changes in fair value (221,160) - (221,160)

Total comprehensive income for the year (221,160) 10,030,485 9,809,325

At 31 December 2023 (2,446,236) 86,143,062 83,696,826

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香港醫學專科學院 2024 年度報告