ANNUAL REPORT 2017/18 27
STATEMENT OF FINANCIAL POSITION
31 March 2018
Note
2018
2017
$’000
$’000
ASSETS
Current assets
Cash and cash equivalents
9
188,101
173,346
Grants and other receivables
10
72,979
117,718
Financial assets at fair value through income and expenditure
11
980,160
816,265
Derivative financial instruments
12
-
5,034
Other current assets
13
9,522
14,594
1,250,762
1,126,957
Non-current assets
Grants and other receivables
10
364,405
373,264
Property, plant and equipment
14
733,645
745,702
Intangible assets
15
2,169
1,901
1,100,219
1,120,867
Total assets
2,350,981
2,247,824
LIABILITIES
Current liabilities
Grants received in advance
16
33,705
26,593
Fees received in advance
3,859
3,441
Other payables
17
37,837
41,351
Derivative financial instruments
12
-
1,845
Borrowings
18
15,210
14,911
90,611
88,141
Non-current liabilities
Borrowings
18
368,770
376,183
Deferred capital grants
19
728,478
747,450
1,097,248
1,123,633
Total liabilities
1,187,859
1,211,774
NET ASSETS
1,163,122
1,036,050
FUNDS AND RESERVES
Endowment fund
21
898,755
850,142
Accumulated Surplus
- General fund
97,588
75,195
- Non-endowment fund
20
12,367
10,895
- Endowment fund
21
154,412
99,818
1,163,122
1,036,050
Funds’ net assets managed on behalf of
Ministry of Education (“MOE”)
22
10,172
8,450
The accompanying notes form an integral part of these financial statements.
