NOTES TO THE FINANCIAL STATEMENTS
SECTION A How the numbers are calculated CONTINUED
Financial assets and liabilities by category
Fair value through OCI ($000’s)
Amortised cost ($000’s)
Total ($000’s)
As at 30 June 2019 ASSETS AS PER BALANCE SHEET Cash and cash equivalents
–
1,018
1,018
Trade and other receivables
–
26,266
26,266
Derivative financial instruments
118
-
118
Total
118
27,284
27,402
LIABILITIES AS PER BALANCE SHEET Trade and other payables
–
10,948
10,948
Employee entitlements
–
29,999
29,999
Derivative financial instruments
1,947
–
1,947
Borrowings and overdrafts
–
50,000
50,000
Total
1,947
90,947
92,894
As at 30 June 2018 ASSETS AS PER BALANCE SHEET Cash and cash equivalents
–
1,750
1,750
Trade and other receivables
–
25,618
25,619
Derivative financial instruments
227
–
227
Total
227
27,368
27,596
LIABILITIES AS PER BALANCE SHEET Trade and other payables
–
8,959
8,959
Employee entitlements
–
26,868
26,868
Derivative financial instruments
1,954
–
1,954
Borrowings and overdrafts
–
40,000
40,000
Total 77,781 The derivatives used for hedging are considered level two financial instruments and are recognised on the balance sheet at their fair values, which are determined using observable inputs as follows: (i) Forward Exchange Contract values are determined using observable forward exchange market rates at the balance date. (ii) Interest Rate Swaps are valued using the “Projected” methodology. For floating rates this method projects all future floating cash flows and discounts these back to the revaluation date. For fixed rates, the individual cash flows are discounted from the cash flow date to the revaluation date. The discount rate used to calculate the NPV of the deal is the zero coupon curve, based on a blended swaps curve obtained from Reuters. 1,954 75,827
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