Admission Document - BrainJuicer
Admission Document - BrainJuicer
Admission Document - BrainJuicer
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9 Notes to the financial information (continued)<br />
9.12 Creditors: amounts falling due within one year<br />
As at As at As at<br />
31 December 31 December 31 December<br />
2003 2004 2005<br />
£’000 £’000 £’000<br />
Trade creditors 86 80 96<br />
Other taxation and social security – 53 80<br />
Accruals and deferred income 121 275 218<br />
––––––––– ––––––––– –––––––––<br />
207 408 394<br />
––––––––– ––––––––– –––––––––<br />
The <strong>BrainJuicer</strong> UK Group has an invoice discounting facility which is currently not being utilised.<br />
9.13 Creditors: amounts falling due after more than one year<br />
As at As at As at<br />
31 December 31 December 31 December<br />
2003 2004 2005<br />
£’000 £’000 £’000<br />
Reclassification of shares as financial liabilities:<br />
Share capital – – –<br />
Share premium – – 88<br />
––––––––– ––––––––– –––––––––<br />
– – 88<br />
––––––––– ––––––––– –––––––––<br />
9.14 Financial Risk Management<br />
The <strong>BrainJuicer</strong> UK Group holds or issues financial instruments in order to achieve three main<br />
objectives, being: (a) to finance its operations; (b) to manage its exposure to interest and currency risks<br />
arising from its operations and from its sources of finance; and (c) for trading purposes. In addition,<br />
various financial instruments (e.g. trade debtors, trade creditors, accruals and prepayments) arise<br />
directly from the <strong>BrainJuicer</strong> UK Group’s operations. Transactions in financial instruments result in<br />
the <strong>BrainJuicer</strong> UK Group assuming or transferring to another party one or more of the financial risks<br />
described below.<br />
Credit risk<br />
The <strong>BrainJuicer</strong> UK Group monitors credit risk closely and considers that its current policies of credit<br />
checks meet its objectives of managing exposure to credit risk.<br />
The <strong>BrainJuicer</strong> UK Group has no significant concentrations of credit risk, other than in substantial<br />
credit-worthy organisations. Amounts shown in the balance sheet best represent the maximum credit<br />
risk exposure in the event other parties fail to perform their obligations under financial instruments.<br />
Liquidity risk<br />
The <strong>BrainJuicer</strong> UK Group monitors its cash flows carefully in order to ensure its liquidity is<br />
sufficient to meet obligations as they fall due.<br />
Currency risk<br />
The <strong>BrainJuicer</strong> UK Group does not hedge its foreign currency exposures.<br />
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