Provision of impairment for contractual receivables is recognised when there is objective evidence that the Board will not be able to collect a receivable. Objective evidence includes financial difficulties and default on payments. Ageing analysis of contractual financial assets 2018 Assets Carrying Not passed Past due but not impaired Impaired amount due and not amount Less than 1 to 3 3 to 12 1 to 5 impaired $’000 $’000 1 month months months years $’000 $’000 $’000 $’000 $’000 Contractual 151 31 - - - 120 218 receivables Total 151 31 - - - 120 218 2017 Assets Carrying Not passed Past due but not impaired amount due and not Less than 1 to 3 3 to 12 1 to 5 Impaired impaired $’000 1 month months months years amount $’000 $’000 $’000 $’000 $’000 $’000 Contractual 255 - - 54 21 180 286 receivables Total 255 - - 54 21 180 286 Liquidity Risk Liquidity risk is the risk that the Board would be unable to meet its financial obligations as and when they fall due. The exposure to liquidity risks is deemed as insignificant as no obligation to allocate Board’s funding is entered into without appropriate sources to meet the commitments having been secured by the Board. Ageing analysis of contractual financial liabilities 2018 Liabilities Carrying Nominal Maturity dates amount amount Less than 1 to 3 3 to 12 1 to 5 $’000 $’000 1 month months months years $’000 $’000 $’000 $’000 Contractual payables 2,155 2,155 522 1,633 - - Total 2,155 2,155 522 1,633 - - 2017 Liabilities Carrying Nominal Maturity dates amount amount Less than 1 1 to 3 3 to 12 1 to 5 $’000 $’000 month months months years $’000 $’000 $’000 $’000 Contractual payables 1,044 1,044 313 731 - - Total 1,044 1,044 313 731 - -
Provision of impairment for contractual receivables is recognised when there is objective evidence that the Board will not be able to collect a receivable. Objective evidence includes financial difficulties and default on payments. Ageing analysis of contractual financial assets 2018 Assets Carrying amount $’000 Not passed due and not impaired $’000 Past due but not impaired Impaired amount $’000 Less than 1 month $’000 1 to 3 months $’000 3 to 12 months $’000 1 to 5 years $’000 Contractual receivables 151 31 - - - 120 218 Total 151 31 - - - 120 218 2017 Assets Carrying amount $’000 Not passed due and not impaired $’000 Past due but not impaired Less than 1 month $’000 1 to 3 months $’000 3 to 12 months $’000 1 to 5 years $’000 Impaired amount $’000 Contractual receivables 255 - - 54 21 180 286 Total 255 - - 54 21 180 286 Liquidity Risk Liquidity risk is the risk that the Board would be unable to meet its financial obligations as and when they fall due. The Board’s exposure to liquidity risks is deemed as insignificant as no obligation to allocate funding is entered into without appropriate sources to meet the commitments having been secured by the Board. Ageing analysis of contractual financial liabilities 2018 Liabilities Carrying amount $’000 Nominal amount $’000 Maturity dates Less than 1 month $’000 1 to 3 months $’000 3 to 12 months $’000 1 to 5 years $’000 Contractual payables 2,155 2,155 522 1,633 - - Total 2,155 2,155 522 1,633 - - 2017 Liabilities Carrying amount $’000 Nominal amount $’000 Maturity dates Less than 1 month $’000 1 to 3 months $’000 3 to 12 months $’000 1 to 5 years $’000 Contractual payables 1,044 1,044 313 731 - - Total 1,044 1,044 313 731 - -
ACFEBoardAnnualReport1718.docx