Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet
date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and
compared to the carrying amount.
Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the
asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.
Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.