2021 Annual Report

Notes to the consolidated financial statements 30 June 2021 (continued) 10 Financial assets at fair value through profit or loss 2021 $'000 2020 $'000 Shares in listed companies - at fair value through profit or loss 110,944 107,759 110,944 107,759 (a) 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 22(d) for fair value measurement. (b) Amounts recognised in profit or loss 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. During the current year, the changes in fair values of financial assets resulted in a gain to the profit or loss of $9,958,000 (2020: $33,207,000). 11 Trade and other payables 2021 $'000 2020 $'000 Current liabilities Trade and other payables 47,286 53,013 47,286 53,013 (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 2021 $'000 2020 $'000 Current Provision for employee entitlements 8,721 7,058 8,721 7,058 2021 $'000 2020 $'000 Non-current Provision for employee entitlements 2,708 2,042 Provision for rehabilitation costs 44,584 66,599 47,292 68,641 IGO Limited 24 Notes to The Consolidated Financial Statements 30 June 2021 94 — IGO ANNUAL REPORT 2021