content_image/167473.jpg content_image/167475.jpg
## Note 53 – Financial instruments (continued) 

## (j) Liquidity risk management 

Liquidity risk is the risk that the consolidated entity will not be able to meet its financial obligations as they fall due. Ultimate responsibility for liquidity risk management rests with the Board of Directors, who have established an appropriate liquidity risk management framework for the management of the consolidated entity’s short-, medium- and long-term funding and liquidity management requirements. 

The consolidated entity manages liquidity risk by maintaining adequate cash reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows and matching the maturity profiles of financial assets and liabilities. Note 30 sets out details of undrawn financing facilities that the consolidated entity has access to at the end of the reporting period. 

The following table details the consolidated entity’s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods. The table has been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the consolidated entity can be required to pay. The table includes both interest and principal cash flows. To the extent that interest flows are at floating rate, the undiscounted amount is derived from interest rate curves at the end of the reporting period. The contractual maturity is based on the earliest date on which the consolidated entity may be required to pay. 

<img src='content_image/167473.jpg'>

The following table details the consolidated entity’s expected maturity for its non-derivative financial assets. The table has been drawn up based on the undiscounted contractual maturities of the financial assets including interest that will be earned on those assets. The inclusion of information on non-derivative financial assets is necessary in order to understand the consolidated entity’s liquidity risk management, as the liquidity is managed on a net asset and liability basis. 

<img src='content_image/167475.jpg'>

