18 Categories of Financial Instruments
The carrying amounts of financial assets and financial liabilities in each of the NZ IAS 39 categories are as follows:
| Carrying amount 2007 Actual $000 |
Fair value 2007 Actual $000 |
Note | Carrying amount 2008 Actual $000 |
Fair value 2008 Actual $000 |
|
|---|---|---|---|---|---|
| Loans and receivables | |||||
| 5,946 | 5,946 | Cash and cash equivalents | 299 | 299 | |
| 3,816 | 3,816 | Trade and other receivables | 7 | 9,770 | 9,770 |
| 9,762 | 9,762 | Total loans and receivables | 10,069 | 10,069 | |
| Financial liabilities measured at amortised cost | |||||
| 16,264 | 16,264 | Trade and other payables | 10 | 16,126 | 16,126 |
Estimation of fair values analysis
The following summarises the major methods and assumptions used in estimating the fair values of financial instruments reflected in the table.
Trade and other receivables/payables
For receivables/payables with a remaining life of less than one year, the notional amount is deemed to reflect the fair value. All other receivables/payables are discounted to determine the fair value.
