ANNUAL REPORT 2004–05 - V/Line

NOTE 14a) Interest rate riskFINANCIAL INSTRUMENTSThe consolidated entity's exposure to interest rate risks and the effective interest rates of financial assets and financial liabilities at the balance date are asfollows:2005 Fixed interest rate maturing in:Financial Instruments Floating 1 year Over 1 to 5 More than Non-interest Weightedinterest rate or less years 5 years bearing averageeffectiveinterest rateI. Financial assets30 June 30 June 30 June2005 2005 2005Cash 2,582 - - - - 5.22%Trade and other receivables - - - - 8,426 -II. Financial liabilitiesTrade and other creditors - - - - 23,089 -2004 Fixed interest rate maturing in:Financial Instruments Floating 1 year Over 1 to 5 More than Non-interest Weightedinterest rate or less years 5 years bearing averageeffectiveinterest rateIII. Financial assets30 June 30 June 30 June2004 2004 2004Cash 2,306 - - - - 5.18%Trade and other receivables - - - - 7,052 -IV. Financial liabilitiesTrade and other creditors - - - - 20,334 -All other financial assets and financial liabilities, both recognised and unrecognised, are non-interest bearing.b) Net fair valuesThe carrying amounts of financial assets and financial liabilities, both recognised and unrecognised, at balance date, approximate their fair values.The aggregate net fair values of financial assets and liabilities, both recognised and unrecognised, at the balance date, are equal to their carrying amountas per the statement of financial position.58| V/LINE ANNUAL REPORT 2004-05