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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
Annual Report 2016 101
Notes to the consolidated financial statements
30 June 2016
(continued)
21 Financial risk management (continued)
(b) Credit risk (continued)
Consolidated entity
2016
$'000
2015
$'000
Financial assets
Cash and cash equivalents
46,264
121,296
Trade and other receivables
21,561
13,481
Other receivables
6,559
5,384
Financial assets
5,017
15,574
Derivative financial instruments
1,583
4,981
80,984
160,716
On analysis of trade and other receivables, no balances are impaired for either 30 June 2016 or 30 June 2015. Trade
receivables balance includes $1,448,000 (2015: $nil) that are past due but not impaired.
(c) Liquidity risk
Liquidity risk is the risk that the Group will not be able to meet its financial liabilities as they fall due. The Group’s
approach to managing liquidity risk is to ensure, as far as possible, that it will always have sufficient liquidity to meet its
liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking
damage to the Group’s reputation. Management and the Board monitors liquidity levels on an ongoing basis.
Maturities of financial liabilities
The following table details the Group’s remaining contractual maturity for its non-derivative financial liabilities. The
tables are based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Group
can be required to pay.
Contractual maturities of financial liabilities Less than 6
months
6 - 12
months
Between
1 and 5
years
Total
contractual
cash
flows
Carrying
amount
$'000
$'000
$'000
$'000
$'000
At 30 June 2016
Trade and other payables
107,132
-
-
107,132 107,132
Bank loans*
6,070
46,735 243,056
295,861 265,826
113,202
46,735 243,056
402,993 372,958
At 30 June 2015
Trade and other payables
40,476
-
-
40,476 40,476
Finance lease liabilities
458
64
-
522
510
40,934
64
-
40,998 40,986
* Includes estimated interest payments.
The following table details the Group’s liquidity analysis for its derivative financial instruments. The table is based on the
undiscounted net cash inflows/(outflows) on the derivative instrument that settles on a net basis. When the net amount
payable is not fixed, the amount disclosed has been determined by reference to the projected forward curves existing at
the reporting date.
Independence Group NL
73