Annual Report 2011/12 - International Entertainment Corporation

Notes to the Consolidated Financial StatementsFor the year ended 31 March 20126. FINANCIAL INSTRUMENTS (Continued)(b) Financial risk management objectives and policies (Continued)Liquidity riskIn the management of the liquidity risk, the Group monitors and maintains a level of cash and cash equivalentsdeemed adequate by management of the Group to finance the Group’s operations and mitigate the effects offluctuations in cash flows.The following table details the Group’s remaining contractual maturity for its non-derivative financial liabilities. Thetable has been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest dateon which the Group can be required to pay. The maturity dates for non-derivative financial liabilities are based onthe agreed repayment dates. The table includes both interest and principal cash flows.Liquidity tablesWeightedaverageinterest rateLess than1 month/repayableon demand1–3months3 monthsto 1 yearTotalundiscountedcash flowsCarryingamounts at31 March2012% HK$’000 HK$’000 HK$’000 HK$’000 HK$’0002012Non-derivative financial liabilitiesTrade payables – 3,335 2,710 – 6,045 6,045Other payables and accrued charges – 9,564 12,555 – 22,119 22,119Contingent consideration – 16,600 – – 16,600 16,600Promissory notes – 132,008 – – 132,008 132,008161,507 15,265 – 176,772 176,772Weightedaverageinterest rateLess than1 month/repayableon demand1–3months3 monthsto 1 yearTotalundiscountedcash flowsCarryingamounts at31 March2011% HK$’000 HK$’000 HK$’000 HK$’000 HK$’0002011Non-derivative financial liabilitiesTrade payables – 4,617 – 2,350 6,967 6,967Other payables and accrued charges – 250,183 6,444 6,354 262,981 262,981Contingent consideration – 16,600 – – 16,600 16,600Promissory notes – 132,008 – – 132,008 132,008403,408 6,444 8,704 418,556 418,556International Entertainment Corporation - Annual Report 2011/12 53