This section analyses how the APSC manages financial risks within its operating environment.
6.1: Financial instruments
| Notes | 2017 $’000 |
2016 $’000 |
|
|---|---|---|---|
| Financial assets | |||
| Loans and receivables | |||
| Cash and cash equivalents | 894 | 1,075 | |
| Goods and services receivables (net) | 3.1a | 1,148 | 1,446 |
| Total loans and receivables: | 2,042 | 2,521 | |
| Total financial assets | 2,042 | 2,521 | |
| Financial liabilities | |||
| Financial liabilities measured at amortised cost | |||
| Trade creditors and accruals | 3.3a | 2,441 | 3,808 |
| Other payables | 3.3d | 80 | 90 |
| Total financial liabilities measured at amortised cost | 2,521 | 3,898 | |
| Total financial liabilities | 2,521 | 3,898 | |
Note 6.2: Fair value measurement
| Fair value | ||
|---|---|---|
| 2017 $’000 |
2016 $’000 |
|
| Non-financial assets | ||
| Leasehold improvements | 823 | 1,949 |
| Plant and equipment | 465 | 934 |
Accounting policy
All property, plant and equipment is measured at fair value, in accordance with the accounting policy.
The APSC’s assets are held for operational purposes and not held for the purposes of deriving a profit.
Fair value is estimated using replacement cost, which is depreciated based upon the expended and remaining useful life of each asset.