The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors.
Short term debtors are measured at transaction price less any impairment.
Short term creditors are measured at transaction price.
Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Other financial liabilities, including borrowings are initially measured at fair value and subsequently measured at amortised cost using the effective interest rate method, with interest expense recognised on an effective yield basis.