Axiom 2014 Annual Report - page 109

Notes to the Financial Statements
for the year ended 30 September 2014
107
2014 Annual Report
20. Financial risk management and fair values (continued)
c. Interest rate risk
The Company’s exposure to interest rate risk and the effective interest rates of financial assets and financial liabilities,
both recognised and unrecognised at the balance sheet date, are as follows:
Financial instruments
Interest bearing Non-interest bearing
Total carrying amount
as per the balance
sheet
Weighted average
effective interest rate
2014
$000
2013
$000
2014
$000
2013
$000
2014
$000
2013
$000
2014
%
2013
%
(i) Financial assets
Cash
1
2,207
639
–
–
2,207
639
3.5
2.2
Other receivables
–
–
379
153
379
153
–
–
Total financial assets
2,207
639
379
153 2,586
792
(ii) Financial liabilities
Other payables
–
–
753
857
753
857
–
–
Borrowings – Convertible
notes
2
678
–
–
–
678
–
14.5
–
Borrowings – Other
1
8
20
8
20
14.4
14.4
Provisions
–
–
139
83
139
83
–
–
Total financial liabilities
686
20
892
940 1,578
960
1
At floating interest rates
2
At fixed interest rates
The Company is not exposed to significant risk from interest rate sensitivity.
d. Currency risk
The Company is not exposed to significant foreign currency risk as the majority of the Company’s income and
expenditure is denominated in Australian dollars.
e. Fair values
All financial instruments are carried at amounts not materially different from their fair values as at 30 September 2014
and 2013.
COMPANY FINANCIAL REPORT
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