Debtors and creditors with no stated interest rate and receivable or payable within one year or on demand are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss in other operating expenses.
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in nonconvertible preference and non puttable ordinary shares which are measured at fair value, with changes recognised in the profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Directors loans are recognised at transaction price.
Listed investments are measured at fair value with changes in fair value recognised in the profit and loss.
Other investments are recorded at cost less impairment.