Trade and other receivables 6 88,262 445,954 515,608 594,130 Financial Liabilities Trade and other payables 10 177,754 290,515 Loans and borrowings 11 6,961 13,922 184,715 304,437 Financial Risk Management Policies The Company’s overall risk management strategy seeks to assist the Company in meeting its financial targets, whilst minimising potential adverse effects on financial performance. An implicit risk management policy exists and includes credit risk policies and future cash flow requirements. Specific Financial Risk Exposures and Management The main risks the Company is exposed to through its financial instruments are interest rate risk, liquidity risk, credit risk and net fair values. Interest Rate Risk The Company’s exposure to interest rate risk, which is the risk that a financial instrument’s value will fluctuate as a result of changes in market interest rates and the effective weighted average interest rate for classes of financial assets and financial liabilities, is set out below: Fixed Interest Maturing in Floating 1 Year Over 1 to Non–Interest Interest Rate or Less 5 Years Bearing Total 2011 Note $ $ $ $ $ Financial Assets Cash and cash equivalents 5 327,992 99,039 - 315 427,346 Trade and other receivables 6 - - - 88,262 88,262 Total Financial Assets 327,992 99,039 - 88,577 515,608 Weighted Average Interest Rate of cash and cash equivalents 5.0% Financial Liabilities Trade and other payables 10 - - - 177,754 177,754 Loans and borrowings 11 - 6,961 - - 6,961 Total Financial Liabilities - 6,961 - 177,754 184,715 Notes to the Financial Statements For The Year Ended 30 June 2011 Note 15 - Financial Risk Management (continued) Interest Rate Risk (continued) Fixed Interest Maturing in Floating 1 Year Over 1 to Non–Interest Interest Rate or Less 5 Years Bearing Total 2010 Note $ $ $ $ $ Financial Assets Cash and cash equivalents 5 51,736 96,140 - 300 148,176
Trade and other receivables 6 88,262 445,954 515,608 594,130 Financial Liabilities Trade and other payables 10 177,754 290,515 Loans and borrowings 11 6,961 13,922 184,715 304,437 Financial Risk Management Policies The Company’s overall risk management strategy seeks to assist the Company in meeting its financial targets, whilst minimising potential adverse effects on financial performance. An implicit risk management policy exists and includes credit risk policies and future cash flow requirements. Specific Financial Risk Exposures and Management The main risks the Company is exposed to through its financial instruments are interest rate risk, liquidity risk, credit risk and net fair values. Interest Rate Risk The Company’s exposure to interest rate risk, which is the risk that a financial instrument’s value will fluctuate as a result of changes in market interest rates and the effective weighted average interest rate for classes of financial assets and financial liabilities, is set out below: Fixed Interest Maturing in Floating Interest Rate 1 Year or Less Over 1 to 5 Years Non–Interest Bearing Total 2011 Note $ $ $ $ $ Financial Assets Cash and cash equivalents 5 327,992 99,039 - 315 427,346 Trade and other receivables 6 - - - 88,262 88,262 Total Financial Assets 327,992 99,039 - 88,577 515,608 Weighted Average Interest Rate of cash and cash equivalents 5.0% Financial Liabilities Trade and other payables 10 - - - 177,754 177,754 Loans and borrowings 11 - 6,961 - - 6,961 Total Financial Liabilities - 6,961 - 177,754 184,715 Notes to the Financial Statements For The Year Ended 30 June 2011 Note 15 - Financial Risk Management (continued) Interest Rate Risk (continued) Fixed Interest Maturing in Floating Interest Rate 1 Year or Less Over 1 to 5 Years Non–Interest Bearing Total 2010 Note $ $ $ $ $ Financial Assets Cash and cash equivalents 5 51,736 96,140 - 300 148,176