14 FAIR VALUE OF ASSETS AND LIABILITIES (continued) (b) Accounting classifications and fair values (continued) Carrying amount Fair value Note Equity in investment at FVOCI Amortised costs Other financial liabilities Total Level 1 $ $ $ $ $ 31 December 2022 Financial asset measured at fair value Equity investment at FVOCI 3 5,970,165 – – 5,970,165 5,970,165 Financial assets and liabilities not measured at fair value Trade and other receivables# 4 – 1,042,075 – 1,042,075 Cash and cash equivalents – 486,848 – 486,848 Trade and other payables 8 – – (7,115,038) (7,115,038) – 1,528,923 (7,115,038) (5,586,115) # Excludes GST receivable There was no transfer between levels of the fair value hierarchy during the year (2022: nil). 15 RELATED PARTY TRANSACTIONS For the purposes of these financial statements, parties are considered to be related to the Company if the Company has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Company and the party are subject to common control or common significant influence. Related parties may be individuals or other entities. In addition to the related party information disclosed elsewhere in the financial statements, these are the following significant transactions which were carried out in the normal course of business on terms agreed between the parties during the financial year: 2023 2022 $ $ Related companies Management fee expenses 2,032,798 2,440,538 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2023 342 CAPITALAND ASCOTT TRUST
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