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Managing Uncertainties (cont.)

Notes to and forming part of the Financial Statements

7.3 Administered - Financial Instruments

2019

2018

$'000

$'000

7.3A: Categories of Financial Instruments

Financial Assets under AASB 139

Loans and receivables

Cash on hand or on deposit

107

Goods and services receivable

1,404

Total loans and receivables

1,511

Financial Assets under AASB 9

Financial assets at amortised cost

Cash on hand or on deposit

413

Goods and services receivable

1,616

Total financial assets at amortised cost

2,029

Total financial assets

2,029

1,511

Financial Liabilities

Financial liabilities measured at amortised cost

Retentions

90

(220)

Total financial liabilities measured at amortised cost

90

(220)

Total financial liabilities

90

(220)

The net interest income/expense from financial assets not at fair value through profit or loss is Nil (2018: Nil).

The carrying amount of all financial assets and liabilities as at 30 June 2019 and 30 June 2018 approximates the fair value.

Accounting Policy

The accounting policy for financial instruments disclosed at Note 7.2 applies equally to administered financial instruments.

Classification of financial assets on the date of initial application of AASB 9

AASB 139

AASB 9

AASB 139

AASB 9

original

new

carrying

carrying

Financial assets class Notes

classification

classification

amount

amount

at 1 July 2018

at 1 July 2018

$'000

$'000

Cash on hand or on deposit

Loans and

Amortised

receivable

cost

107

107

Goods and services receivable

Loans and

Amortised

receivable

cost

1,404

1,404

Total financial assets

1,511

1,511

Reconciliation of carrying amounts of financial assets on the date of initial application of AASB 9

AASB 139

AASB 9

carrying

carrying

amount at

Re-

Re-

amount

1July 2018

classification

measurement

at 1 July 2018

$'000

$'000

$'000

$'000

Financial assets at amortised cost

Loans and receivable

Cash on hand or on deposit

107

-

-

107

Goods and services receivable

1,404

-

-

1,404

Total amortised cost

1,511

-

-

1,511