ASCENDAS india trust ANNUAL REPORT 2014/15
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
For the financial year ended 31 March 2015
17.
Financial risk management objectives and policies (continued)
(e)
Fair value measurements
The Company classifies its fair value measurement of assets and liabilities using a fair value hierarchy that is dependent
on the valuation inputs used as follows:
(i)
Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company can
access at the measurement date;
(ii)
Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability,
either directly or indirectly; and
(iii)
Level 3 – Unobservable inputs for the asset or liability.
Fair value measurements that use inputs of different hierarchy levels are categorised in its entirely in the same level
of the fair value hierarchy as the lowest level input that is significant to the entire measurement.
There have been no transfers between Level 1 and Level 2 fair value measurements during the financial years ended
2015 and 2014.
The following table presents the assets and liabilities measured at fair value at the end of the reporting period:
Level 1
Level 2
Level 3
Total
$’000
$’000
$’000
$’000
Assets
2015
Financial Assets
Available-for-sale financial assets
– Quoted equity securities
28,478
–
–
28,478
2014
Financial Assets
Available-for-sale financial assets
– Quoted equity securities
21,042
–
–
21,042
The carrying value of current trade and other receivables and payables approximate their fair values due to their
short-term nature.
18.
Authorisation of financial statements
These financial statements for the year ended 31 March 2015 were authorised for issue in accordance with a resolution of
the directors on 29 April 2015.
