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24 | NEUROLOGICAL FOUNDATION Statement of financial position as at 31 March 2020 This statement is to be read in conjunction with the notes to the financial statements. These financial statements were approved by the Council on 20 August 2020. in New Zealand Dollars Note 2020 2019 ASSETS Cash and cash equivalents 4,494,063 8,140,201 Term deposits 8 47,106,574 44,855,887 Receivables from exchange transactions 727,744 779,573 Prepayments - 22,525 Goods and services tax receivable 168,520 164,505 Investments 8 26,731,579 19,050,057 TOTAL CURRENT ASSETS 79,228,480 73,012,748 Property, plant and equipment 7 1,771,148 1,730,542 TOTAL NON-CURRENT ASSETS 1,771,148 1,730,542 TOTAL ASSETS 80,999,628 74,743,290 CURRENT LIABILITIES Payables under exchange transactions 196,099 231,610 Employee entitlement liability 3 40,072 46,741 Grants and sponsored research liability 6 7,604,903 6,475,786 TOTAL CURRENT LIABILITIES 7,841,074 6,754,137 NON - CURRENT LIABILITIES Grants and sponsored research liability 5 1,706,335 2,568,610 TOTAL NON - CURRENT LIABILITIES 1,706,335 2,568,610 TOTAL LIABILITIES 9,547,409 9,322,747 NET ASSETS / EQUITY Research Grant Fund 5 - - Capital Maintenance Fund 63,000,000 63,000,000 Hackett Fund 798,312 779,145 Auckland Chair of Clinical Neurology Fund - 3,392,585 Accumulated funds 7,653,907 (1,751,187) TOTAL NET ASSETS / EQUITY 71,452,219 65,420,543 Council Chairman Chief Executive