IGO Interactive Annual Report 2019

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 30 JUNE 2019 Notes to the consolidated financial statements 30 June 2019 (continued) 10 Financial assets at fair value through profit or loss 2019 $'000 2018 $'000 Shares in Australian listed companies - at fair value through profit or loss 27,531 24,294 27,531 24,294 (i) Amounts recognised in profit or loss During the current year, the changes in fair values of financial assets resulted in a loss to the profit or loss of $6,915,000 (2018: profit of $231,000). Changes in fair values of financial assets at fair value through profit or loss are recorded in fair value movement of financial investments in the profit or loss. (ii) Recognition and measurement The Group classifies financial assets at fair value through profit or loss if they are acquired principally for the purpose of selling in the short term, ie are held for trading. They are presented as current assets if they are expected to be sold within 12 months after the end of the reporting period; otherwise they are presented as non-current assets. Refer to note 21(d) for fair value measurement. 11 Trade and other payables 2019 $'000 2018 $'000 Current liabilities Trade payables 2,827 14,447 Other payables 47,075 42,139 49,902 56,586 (a) Recognition and measurement These amounts represent liabilities for goods and services provided to the Group prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months from the reporting date. They are recognised initially at their fair value and subsequently measured at amortised cost using the effective interest method. 12 Provisions 2019 $'000 2018 $'000 Current Provision for employee entitlements 5,180 4,322 Provision for restructuring costs - 572 5,180 4,894 Independence Group NL 23 86 — IGO ANNUAL REPORT 2019