29 FINANCIAL INSTRUMENTS
(continued)
Financial assets and financial liabilities subject to offsetting and enforceable master
netting arrangement
(continued)
Gross
amounts of
recognised
financial
assets/
(liabilities)
Gross
amount of
recognised
financial
assets/
(liabilities)
offset in the
statement of
financial
position
Net amounts
of financial
assets/
(liabilities)
presented
in the
statement of
financial
position
Related
amounts not
offset in the
statement of
financial
position Net amount
$’000
$’000
$’000
$’000
$’000
Group
31 December 2013
Financial assets
Interest rate swaps
929
–
929
–
929
Financial liabilities
Interest rate swaps
(11,287)
–
(11,287)
–
(11,287)
Forward exchange
contracts
(938)
–
(938)
–
(938)
Trust
31 December 2014
Financial assets
Forward exchange
contracts
353
–
353
–
353
Financial liabilities
Interest rate swaps
(10,441)
–
(10,441)
–
(10,441)
31 December 2013
Financial assets
Interest rate swaps
929
–
929
–
929
Financial liabilities
Interest rate swaps
(10,017)
–
(10,017)
–
(10,017)
Forward exchange
contracts
(938)
–
(938)
–
(938)
The gross amounts of financial assets and financial liabilities and their net amounts as presented
in the statements of financial position that are disclosed in the above tables are measured in the
statement of financial position on the following basis:
• forward exchange contracts and interest rate swaps – fair value.
Notes to the Financial Statements
Year ended 31 December 2014
184 | Ascott Residence Trust Annual Report 2014
