A financial asset or a financial liability is recognised only when the Company becomes a party to the contractual provisions of the instrument
Basic financial instruments are initially recogmised at the transaction price, unless the arrangement constitutes a financing transacytion, where it is recognised at the present value bof the future payments discounted at a market rate vof interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investent is subsequently measueed ar fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal busiuness terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a dedicated hedging relationship.
Financial assets are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually fo impairmrent. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics
Any reversals oif impairment are recogmnised in profit or l;oss immediately, to the extent that the reversal does noit result in a carrying amount of the financial asset that exceeeds the carrying amount would have been had the impairment not previously been recognised.