ITF

NOTES (CONT.) (FORMING PART OF THE FINANCIAL STATEMENTS) 36. Financial instruments (continued) (b) Credit risk (continued) 2019 2018 $000 $000 Balance at 1 January 302 289 Receivables written off during the year as uncollectable (48) (120) Increase in loss allowance recognised in profit or loss during the year 13 133 Balance at 31 December 267 302 (c) Liquidity risk Financial risk management Carrying Contractual 1 year Between 1 Carrying Contractual 1 year Between 1 amount cash flows or less & 2 years amount cash flows or less & 2 years $000 $000 $000 $000 $000 $000 $000 $000 Non-derivative financial liabilities Trade and other payables (6,746) (6,746) (6,746) - (2,509) (2,509) (2,509) - Accruals (9,633) (9,633) (9,633) - (10,974) (10,974) (10,974) - (768) (768) (768) - (732) (732) (732) - Lease liabilities (1,996) (2,064) (688) (1,376) - - - - Derivative financial liabilities Forward exchange contracts used for hedging: Outflow (32,224) (32,224) (28,071) (4,153) (29,594) (29,594) (23,256) (6,338) Inflow 32,942 32,942 28,651 4,291 27,964 27,964 21,731 6,233 (18,425) (18,493) (17,255) (1,238) (15,845) (15,845) (15,740) (105) (d) Cash flow hedges Carrying Contractual 1 year Between 2 Carrying Contractual 1 year Between 2 amount cash flows or less & 5 years amount cash flows or less & 5 years $000 $000 $000 $000 $000 $000 $000 $000 Assets 718 718 580 138 - - - - Liabilities - - - - (1,630) (1,630) (1,525) (105) 718 718 580 138 (1,630) (1,630) (1,525) (105) 2019 2018 Provisions carrying amount and contractual cash flows of $519,000 are payable in the year 2023 at the end of the associated lease. The closing loss allowances for trade receivables as at 31 December 2019 reconcile to the opening loss allowances as follows: Liquidity risk is the risk that the group will not be able to meet its financial obligations as they fall due. The group has substantial cash and liquid investment balances and does not require any external funding of its operations. Processes are in place to issue invoices on a timely basis, monitor cash collection closely and chase overdue balances promptly, in order to minimise liquidity risk. This is particularly the case in respect of sponsorship income collection, where the amounts involved can be significant. The following are the contractual maturities of financial liabilities, including estimated interest payments and excluding the effect of netting agreements: The following table indicates the periods in which the cash flows associated with cash flow hedging instruments are expected to occur: 2019 2018 Other taxation and social security 30

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