124 / 164
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2015
124 Independence Group NL
Notes to the consolidated financial statements
30 June 2015
4 Financial risk management (continued)
(d) Recognised fair value measurements (continued)
(iv)
Fair value of other financial instruments
The Group also has a number of financial instruments which are not measured at fair value in the balance sheet. These
instruments had the following fair value at the reporting date.
Carrying
amount
$'000
Fair value
$'000
At 30 June 2015
Current assets
Cash and cash equivalents
121,296
121,296
121,296
121,296
Current liabilities
Lease liabilities
510
522
510
522
Carrying
amount
$'000
Fair value
$'000
At 30 June 2014
Current assets
Cash and cash equivalents
56,972
56,972
56,972
56,972
Current liabilities
Lease liabilities
3,508
3,671
3,508
3,671
Non-current liabilities
Bank loans
24,344
25,000
Lease liabilities
510
522
24,854
25,522
5 Critical accounting estimates and judgements
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including
expectations of future events that may have a financial impact on the entity and that are believed to be reasonable
under the circumstances.
Critical accounting estimates and assumptions
The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by
definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing
a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
(i)
Trade receivables
The Group estimates the value of trade receivables in accordance with the accounting policy disclosed in note 2(j).
Independence Group NL
60