Plan Worldwide Annual Review and Combined Financial ...

The table below analyses financial instruments carried at fair value, by valuation method. The different levels have been defined as follows:
• Quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1).
• Inputs other than quoted prices that are observable for the asset or liability, either directly (that is, as prices) or indirectly
(that is, derived from prices) (level 2).
• Inputs for the asset or liability that are not based on observable market data (level 3).
The following table presents the financial instruments that are measured at fair value at 30 June 2012:
Level 1 Level 2 Level 3
30 June
2012
€000 €000 €000 €000
Financial assets at fair value through income and expenditure:
- Forward foreign exchange contracts 733 - - 733
Available for sale financial assets:
- Current asset investments 18,229 - - 18,229
- Non current asset investments 3,727 - - 3,727
Total assets 22,689 - - 22,689
Financial liabilities at fair value through income and
expenditure:
- Forward foreign exchange contracts (645) - - (645)
Total liabilities (645) - - (645)
The following table presents the financial instruments that are measured at fair value at 30 June 2011:
Level 1 Level 2 Level 3
30 June
2011
€000 €000 €000 €000
Financial assets at fair value through income and expenditure:
- Forward foreign exchange contracts 142 - - 142
Available for sale financial assets:
- Current asset investments 29,774 - - 29,774
- Non current asset investments 3,055 - - 3,055
Total assets 32,971 - - 32,971
Financial liabilities at fair value through income and
expenditure:
- Forward foreign exchange contracts (2,089) - - (2,089)
Total liabilities (2,089) - - (2,089)
The fair value of the forward foreign exchange contracts, investments held to maturity and available for sale investments is based on market prices
obtained from financial institutions at the balance sheet date.
The fair value of investments held to maturity at 30 June 2012 was €2.3 million (2011: €2.1 million). In 2012 and 2011 there were no realised or
unrealised gains or losses on investments held to maturity. On investments available for sale the unrealised gain was €1.1 million (2011: €1.2 million)
and the realised gain was €0.6 million (€0.7 million). There were no unrealised losses and realised losses were €0.3 million (2011: nil unrealised loss
and nil realised loss).
The fair value of cash and cash equivalents, receivables and advances and accounts payable is in line with their carrying values in the combined financial
statements. All cash, investments and other monetary items held in foreign currencies at 30 June were converted to Euros at the spot exchange rate on
that date.
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