The categorisation of each class of financial asset and liability in terms of IAS 39 Financial Instruments: Recognition and Measurement is included below:
|
|
|
|
|
|
|
|
| |
|
|
| 2017 |
|
|
|
|
|
|
|
| Financial assets |
|
|
|
|
|
|
|
| Listed and unlisted investments |
|
|
253 474 |
— |
— |
253 474 |
|
| Trade and other receivables |
|
|
— |
1 104 332 |
— |
1 104 332 |
|
| Cash resources |
|
|
— |
5 626 778 |
— |
5 626 778 |
|
| |
|
|
253 474 |
6 731 110 |
— |
6 984 584 |
|
| Financial liabilities |
|
|
|
|
|
|
|
| Trade and other payables |
|
|
— |
— |
1 500 487 |
1 500 487 |
|
| Overdrafts |
|
|
— |
— |
579 719 |
579 719 |
|
| |
|
|
— |
— |
2 080 206 |
2 080 206 |
|
| The classification of financial assets and liabilities is included below: |
|
|
|
|
|
|
|
| |
|
|
| 2016 |
|
|
| Financial assets |
|
|
| Listed and unlisted investments |
|
|
| Trade and other receivables |
|
|
| Restricted cash |
|
|
| Cash resources |
|
|
| |
|
|
| Financial liabilities |
|
|
| Trade and other payables |
|
|
| Overdrafts |
|
|
| |
|
|
Determination of fair values
Available-for-sale instruments are valued using quoted market prices. The values of other investments and forward exchange
contracts are determined using directly observable inputs. The carrying amounts of all other financial assets and liabilities
approximate their fair values.
Fair value hierarchy
The group uses the following hierarchy for determining and disclosing the fair value inputs of financial instruments:
Level 1: quoted prices in an active market that are unadjusted for identical assets or liabilities;
Level 2: valuation techniques using inputs, which are directly or indirectly observable; and
Level 3: valuations based on data that is not observable (not applicable to the group).
The values of all other instruments recognised, but not subsequently measured at fair value, approximate fair value. The
following assets, all measured at level 1, were required to be recorded at fair value as follows:
|