BERRY STREET VICTORIA INC . ABN 24 719 196 762 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2011
NOTE 15 : FINANCIAL RISK MANAGEMENT ( Continued )
Financial assets
Footnote
Carrying Amount $
2011 2010
Net Fair Value $
Carrying Amount $
Net Fair Value $
Cash and cash equivalents ( i ) 2,994,505 2,994,505 3,030,456 3,030,456 Trade and other receivables ( i ) 1,398,266 1,398,264 1,429,191 1,429,191
Available-for-sale financial assets at fair value
- Listed investments ( ii ) 11,776,708 11,776,708 8,635,607 8,635,607
Held -for- trading financial assets at fair value
- Listed investments ( ii ) 6,601,473 6,601,473 6,268,000 6,268,000
Held- to -maturity financial assets - Term deposits 7,500,000 7,500,000 10,031,725 10,031,725
Total financial assets 30,270,952 30,270,952 29,394,979 29,394,979
Financial liabilities Trade and other payables ( i ) 2,524,536 2,524,536 1,655,037 1,655,037 Lease liabilities ( iii ) 5,112,068 5,112,068 5,361,435 5,361,435 Total financial liabilities 7,636,604 7,636,604 7,016,472 7,016,472
The fair values disclosed in the above table have been determined based on the following methodologies .
( i ) Cash and cash equivalents , trade and other receivables and trade and other payables are shortterm instruments in nature whose carrying value is equivalent to fair value . Trade and other payables exclude amounts provided for annual leave , which is not considered a financial instrument .
( ii ) For listed available-for-sale and held-for-trading financial assets , closing quoted bid prices at the end of the reporting period used . In determining the fair values of the unlisted available-for-sale financial assets , the directors have used inputs that are observable either directly ( as prices ) or indirectly ( derived from prices ).
( iii ) Fair values are determined using a discounted cash flow model incorporating current commercial borrowing rates . The fair values of fixed rate bank debit will differ to the carrying values .
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