Page 77 - Sun Resources Annual Report 2013

22 Financial Risk Management (continued)
Maturities of financial assets and liabilities
2013
Consolidated
Floating
interest
rate (i)
0-6
months
Fixed
interest rate Non-interest
bearing
0-6
months
Average
interest rate
0-6
months
7-12
months
Between
1-2 years Total
Float-
ing
(i)
Fixed
Note $ $ $ $ $ $ % %
Financial assets
Cash assets 5 2,723,425 - - - - 2,723,425 2.8 -
Term deposits 5 - 827,324 - - - 827,324 - 4
Other receivables 6 - - - - 342,046 342,046 - -
2,723,425 827,324 - - 342,046 3,892,795
Financial liabilities
Payables 12 - - - - 6,107,815 6,107,815 - -
- - - - 6,107,815 6,107,815
Net financial assets 2,723,425 827,324 - - (5,765,769) (2,215,020)
(i) Floating interest rates represent the most recently determined rate applicable to the instrument at reporting date.
2012
Consolidated
Floating
interest
rate (i)
0-6
months
Fixed
interest rate Non-interest
bearing
0-6
months
Average
interest rate
0-6
months
7-12
months
Between
1-2 years Total
Float-
ing
(i)
Fixed
Note $ $ $ $ $ $ % %
Financial assets
Cash assets 5 401,717 - - - - 401,717 3.1 -
Term deposits 5 - 822,782 - - - 822,782 - 5.3
Exploration bonds
receivable
8 - - - 305,400 - 305,400 - 0.5
Other receivables 6 - - - - 16,604 16,604 - -
Available for sale
financial assets
7 - - - - 900 900 - -
401,717 822,782 - 305,400 17,504 1,547,403
Financial liabilities
Payables 12 - - - - 94,948 94,948 - -
- - - - 94,948 94,948
Net financial assets 401,717 822,782 - 305,400 (77,444) 1,452,455
(i) Floating interest rates represent the most recently determined rate applicable to the instrument at reporting date.
d Fair value estimation
The fair value of financial assets and financial liabilities must be estimated for recognition and measurement or for
disclosure purposes.
The fair value of financial instruments traded in active markets is based on quoted market prices at the reporting
date. The quoted market price used for financial assets held by the Group is the current bid price.
The carrying value less impairment provision for trade receivables and trade payables are assumed to approximate
their fair values due to their short-term nature.
SUN RESOURCES ANNUAL REPORT 2013 75
NOTES TO AND FORMING PART OF THE CONSOLIDATED
FINANCIAL STATEMENTS