Page 74 - Annual Report

HONG KONG ACADEMY OF MEDICINE
香 港 醫 學 專 科 學 院
香港醫學專科學院
CONSOLIDATED STATEMENT OF CHANGES IN RESERVE AND FUNDS
FOR THE YEAR ENDED 31 DECEMBER 2022

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

At 1 January 2021 (1,229,270) 37,936,231 69,425,544 106,132,505

Deficit for the year - - (6,955,142) (6,955,142)

Other comprehensive loss
Investments in equity instruments
designated at fair value
through other comprehensive
income:
Changes in fair value (544,768) - - (544,768)

Total comprehensive loss for the
year (544,768) - (6,955,142) (7,499,910)

At 31 December 2021 and
1 January 2022 (1,774,038) 37,936,231 62,470,402 98,632,595

Deficit for the year - - (9,237,977) (9,237,977)

Other comprehensive loss
Investments in equity instruments
designated at fair value
through other comprehensive
income:
Change in fair value (451,038) - - (451,038)

Total comprehensive loss for the
year (451,038) - (9,237,977) (9,689,015)

At 31 December 2022 (2,225,076) 37,936,231 53,232,425 88,943,580

The accompanying notes form an integral part of these consolidated financial statements.

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72 HKAM Annual Report 2023