SEO Version
ANNUAL REPORT 2011
The Group initially recognises loans and receivables and deposits on the date that they
fnancial assets are recognised initially on the trade date, which is the date that the Gr
the contractual provisions of the instrument.
The Group derecognises a fnancial asset when the contractual rights to the cash fow
or it transfers the rights to receive the contractual cash fows on the fnancial asset in
substantially all the risks and rewards of ownership of the fnancial asset are tran
transferred fnancial assets that is created or retained by the Group is recognised as a s
Financial assets and liabilities are offset and the net amount presented in the statem
when, and only when, the Group has a legal right to offset the amounts and intends
basis or to realise the asset and settle the liability simultaneously.
The Group has the following non-derivative fnancial assets: loans and receivables.
Loans and receivables
Loans and receivables are fnancial assets with fxed or determinable payments tha
active market. Such assets are recognised initially at fair value plus any directly attribu
Subsequent to initial recognition, loans and receivables are measured at amortised
interest method, less any impairment losses.
Loans and receivables comprise cash and cash equivalents and trade and other receiv
Cash and cash equivalents comprise cash at bank.
(ii)
Non-derivative financial liabilities
The Group initially recognises fnancial liabilities on the trade date, which is the date tha
party to the contractual provisions of the instrument.
The Group derecognises a fnancial liability when its contractual obligations are discharg
Financial assets and liabilities are offset and the net amount presented in the statem
when, and only when, the Group has a legal right to offset the amounts and intends
basis or to realise the asset and settle the liability simultaneously.
The Group classifes non-derivative fnancial liabilities into the other fnancial liabilities
liabilities are recognised initially at fair value plus any directly attributable transaction cos
recognition, these fnancial liabilities are measured at amortised cost using the effective
Other fnancial liabilities comprise borrowings and trade and other payables.
Sabana AR 2011 Financial V9.indd 81
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