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Fair Value Measurement

5.3 Fair Value Measurement

The following tables provide an analysis of assets and liabilities that are measured at fair value. The remaining assets and liabilities disclosed in the statement of financial position do not apply the fair value hierarchy.

2020

2019

$’000

$’000

5.3A: Fair Value Measurement

Non-financial assets

Buildings

137

-

Leasehold improvements

8

24

Plant and equipment

84

70

Computer software

106

-

Total Non-financial assets

336

94

ASEA internally assessed its assets as in good working order and fit for purpose. Most assets are less than 3 years old and our review of the assets have not identified any impairment, or need to be replaced. ASEA has determined that the future economic benefit of an asset is not primarily dependent on the asset’s ability to generate future cash flows, and the asset would be replaced if the entity were deprived of the asset. Therefore the measurement being depreciated replacement cost was used to represent fair value.