147 ANNUAL REPORT 2024 Notes to The Financial Statements 31 December 2024 29. Financial instruments: information on financial risks and other explanatory information 29A. Categories of financial assets and financial liabilities The following table categorises the carrying amount of financial assets and liabilities recorded at the end of the reporting year: Group Company 2024 2023 2024 2023 $000 $000 $000 $000 Financial assets Financial assets at amortised cost 39,248 37,331 17,346 22,537 Financial assets at FVTOCI 1,351 1,351 1,351 1,351 Financial assets at FVTPL 45 – – – At end of the year 40,644 38,682 18,697 23,888 Financial liabilities Financial liabilities at amortised cost 43,083 46,479 28,752 34,090 Financial liabilities at FVTPL 9 51 1 – At end of the year 43,092 46,530 28,753 34,090 Further quantitative disclosures are included throughout these financial statements. 29B. Financial risk management The main purpose for holding or issuing financial instruments is to raise and manage the finances for the entity’s operating, investing and financing activities. There are exposures to the financial risks on the financial instruments such as credit risk, liquidity risk and market risk comprising interest rate, currency risk and price risk exposures. The Group’s overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the financial performance of the Group. Management sets the objectives and underlying principles of financial risk management for the Group. This includes establishing policies such as authority levels, oversight responsibilities, risk identification and measurement, exposure limits and hedging strategies in accordance with the objectives and underlying principles approved by the board of directors. There have been no changes to the exposures to risk; the objectives, policies and processes for managing the risk and the methods used to measure the risk. 29C. Fair values of financial instruments The analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 are disclosed in the relevant notes to the financial statements. These include the material financial instruments stated at amortised cost and at fair value in the statement of financial position. The carrying values of current financial instruments approximate their fair values due to the short-term maturity of these instruments. The disclosures of fair value are not made when the carrying amount of current financial instruments is a reasonable approximation of the fair value.
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