Axiom 2014 Annual Report - page 75

Notes to the Financial Statements
for the year ended 30 September 2014
73
2014 Annual Report
21. Financial risk management and fair values (continued)
d. Currency risk
Functional currency of entity
AUD
$000
SBD
$000
VND
$000
Total AUD
$000
2014
Australian Dollar
1,031
–
–
1,031
Solomon Islander Dollar
–
(2,595)
–
(2,595)
Vietnamese Dong
–
–
17
17
Statement of financial position exposure
1,031
(2,595)
17
(1,547)
2013
Australian Dollar
(146)
–
–
(146)
Solomon Islander Dollar
–
(1,919)
–
(1,919)
Vietnamese Dong
–
–
52
52
Statement of financial position exposure
(146)
(1,919)
52
(2,013)
If the Solomon Islander Dollar and the Vietnamese Dong were to firm against the Australian dollar by 5% the Group loss
would increase by $249K. If Solomon Islander Dollar and the Vietnamese Dong were to weaken against the Australian
dollar by 5% the Group loss would reduce by $226K.
e. Fair values
All financial instruments are carried at amounts not materially different from their fair values as at 30 September 2014
and 2013.
22. Contingent liabilities
Contingent liabilities of the Group for which no amount has been provided in the financial statements include:
2014
$000
2013
$000
Funds held in trust relating to Solomon Islands court proceedings
121
269
Rental bond deposits paid for office lease
10
–
131
269
GROUP FINANCIAL REPORT
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