Financials - Film Victoria

110 111 section 08 financial statements
section 08 financial statements
notes to tHe Financial statements
for the financial year ended 30 June 2009
note 13. Financial instRuments
(a) Financial risk management objectives
Film Victoria’s activities expose it primarily to the financial risks of changes in interest rates, credit exposure and a minor
amount of operational foreign currency transactions. Film Victoria does not enter into derivative financial instruments to
manage its exposure to interest rate and foreign currency risk.
Film Victoria does not enter into or trade financial instruments, including derivative financial instruments, for speculative purposes.
(b) significant accounting policies
Film Victoria’s accounting policies including the terms and conditions of each class of financial asset and financial liability,
both recognised and unrecognised at balance date, are stated in Note 1.
(c) interest Rate Risk
Film Victoria’s exposure to interest rate risks and the effective interest rate risks of financial assets and financial liabilities,
both recognised and unrecognised at balance date, are as follows:
the following table details Film victoria’s exposure to interest rate risks as at 30 June 2009
weighted aVerage Variable
fixed non-interest carrying
effectiVe interest
rate
interest rate
$
interest rate
$
bearing
$
amount
$
cash and deposits
Cash on hand and cash at bank 2.88% 359.316 – 800 360,116
Short term / at call deposits 3.21% 26,321,153 – – 26,321,153
Receivables
Producer Loans – Cash Flow Facility 5.50% – 6.75% – 5,614,255 – 5,614,255
Other receivables N/A – – 137,544 137,544
26,680,469 5,614,255 138,344 32,433,068
payables
Other payables N/A – – 187,915 187,915
– – 187,915 187,915
26,680,469 5,614,255 326,259 32,620,983