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youthconnections.com.au


Youthconnections.com.au ABN 29 131 297 213 Notes To The Financial Statements For The Financial Year Ended 31 December 2009

Note 14. Financial Instruments (cont’d) Credit risk Exposure to credit risk Carrying Amount 31 December 2009 Financial Liabilities Bank overdraft Hire purchase (44,838) (44,838) 31 December 2008 Financial Liabilities Bank overdraft Hire purchase

2009 $

Contractual Cash Flows

2008 $

1 year

2-5 Years

(44,838) (44,838)

(44,838) (44,838)

-

-

-

-

Interest Rate Risk Profile At the reporting date the interest rate profile of the Company’s interest-bearing instruments was: Carrying Amount 2009

2008

Fixed rate instruments Financial liabilities

44,838

-

Variable rate instruments Financial liabilities

-

-

Fair value sensitivity analysis for fixed rate instruments. he Company does not account for any fixed rate financial assets and liabilities at fair value through T profit and loss. Therefore a change in interest rates at the reporting date would not affect profit or loss.


Youthconnections.com.au ABN 29 131 297 213 Notes To The Financial Statements For The Financial Year Ended 31 December 2009 Note 14. Financial Instruments (cont’d) Credit risk Exposure to credit risk

Fair values Fair values versus carrying amounts. The fair values of financial assets and liabilities together with the carrying amounts shown in the balance sheet, are as follows:

2009 Carrying Amount Receivables

Fair Value

2008 Carrying Fair Value Amount

30,608

30,608

200,986

200,986

Hire purchase

(44,838)

(44,838)

-

-

Bank

193,414

193,414

255,755

255,755

Trade payables

(40,995)

(40,995)

(247,156)

(247,156)

138,189

138,189

209,585

209,585


youthconnections.com.au Annual Report 2009  

"A garden is always a series of losses set between a few triumphs, like life itself." - May Sarton

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