Issue link: http://itf.uberflip.com/i/1537492
32 2024 ITF Annual Report and Financial Statements Notes Notes (continued, forming part of the financial statements) 37. Financial instruments (a) Fair values of financial instruments Investments in debt and equity securi es The fair value of financial assets through profit or loss is determined by reference to their quoted bid price at the balance sheet date. Trade and other receivables The fair value of trade and other receivables is es mated as the present value of future cash flows, discounted at the market rate of interest at the balance sheet date if the effect is material. Trade and other payables The fair value of trade and other payables is es mated as the present value of future cash flows, discounted at the market rate of interest at the balance sheet date if the effect is material. Cash and cash equivalents The fair value of cash and cash equivalents is es mated as its carrying amount where the cash is repayable on demand. Where it is not repayable on demand then the fair value is es mated at the present value of future cash flows, discounted at the market rate of interest at the balance sheet date. Deriva ve financial instruments The fair value of forward exchange contracts is based on their listed market price, if available. If a listed market price is not available, then fair value is es mated by discoun ng the difference between the contractual forward price and the current forward price for the residual maturity of the contract using a risk-free interest rate (based on government bonds). Fair values The fair values for each class of financial assets and financial liabili es together with their carrying amounts shown in the balance sheet are as follows: Carrying amount 2024 $000 Fair value 2024 $000 Carrying amount 2023 $000 Fair value 2023 $000 Financial assets Held at amor sed cost Cash at bank and in hand 8,861 8,861 5,825 5,825 Trade receivables 29,930 29,930 36,955 36,955 Other receivables 6,517 6,517 3,592 3,592 Cash equivalents 244 244 165 165 Held at fair value through profit or loss Investments 22,583 22,583 20,755 20,755 Deriva ve financial instruments – cash flow hedges - - 994 994 Total financial assets 68,135 68,135 68,236 68,236