LENMED AIR 2019.pdf

31. Financial instruments continued 31.2 Fair value hierarchy and measurements Financial assets and liabilities that are measured at fair value on a recurring basis. Group Level 1 Level 2 Level 3 Total Fair value at 28 February 2019 Financial assets Loans and receivables - Trade and other receivables – 655 132 655 132 - Cash and cash equivalents 70 874 – 70 874 Financial liabilities Financial liabilities held at amortised cost - Long term liabilities 1 017 651 – 1 017 651 - Loans from minorities – 42 496 42 496 - Trade and other payables – 333 486 333 486 - Current portion of long term liabilities 150 349 - 150 349 - Bank overdraft 120 397 - 120 397 Fair Value at 28 February 2018 Financial assets Loans and receivables - Trade and other receivables – 529 173 529 173 - Cash and cash equivalents 65 270 – 65 270 Financial liabilities Financial liabilities held at amortised cost - Long term liabilities 1 054 930 - 1 054 930 - Loans from minorities – 63 832 63 832 - Trade and other payables – 320 921 320 921 - Current portion of long term liabilities 112 511 - 112 511 - Bank overdraft 94 990 - 94 990 The fair value of assets and liabilities disclosed under level 3 have been determined in accordance with generally accepted pricing models. All the above financial instruments are short term in nature and their fair value approximates their carrying values. There were no transfers between level I and 2 during the year. Notes to the consolidated annual financial statements continued CONSOLIDATED ANNUAL FINANCIAL STATEMENTS 120