Cellmid 2017 Annual Report
Accounting policy
Financial instruments are recognised when the entity becomes a party to the contractual provisions to the instrument and are
initially measured at fair value plus transaction costs, except where the instrument is classified “at fair value through profit or
loss”, in which case transaction costs are recognised immediately as expenses in profit or loss.
Financial instruments are subsequently measured at fair value, amortised cost using the effective interest method, or cost.
(a) Transactions with related parties
For details of disclosures relating to related parties, refer to Note 23(a).The Group’s activities expose it to a number of financial
risks as described below. The Group’s overall risk management program seeks to minimise potential adverse effects on the
financial performance of the Group. To date, the Group has not had the need to utilise derivative financial instruments such as
foreign exchange contracts or interest rate swaps to manage any risk exposures identified.
The totals for each category of financial instruments, measured in accordance with AASB 139 as detailed in the accounting
policies to these financial statements, are as follows:
The fair value of financial assets and liabilities equate to the carrying value.
2017 2016
$ $
Financial Assets
Cash and cash equivalents 9 3,994,641 2,686,329
Trade and other receivables 10 378,284 298,339
Total financial assets 4,372,925 2,984,668
Financial Liabilities
Financial liabilities at amortised cost
-Trade and other payables 15 1,613,668 1,434,443
- Loans and borrowings 16 2,155,105 998,984
Total financial liabilities 3,768,773 2,433,427