CTFA Annual Report 2022

8. Financial liabilities 8.1 Accounting policies Cash and cash equivalents includes cash on hand, demand deposits and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are shown within borrowings in current liabilities on the statement of financial position. Trade and other payables Trade payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Other financial liabilities Other financial liabilities are recognised initially at the transaction price, including transaction costs except where the liability will subsequently be measured at fair value. Where the fair value of other financial liabilities can be measured reliably without undue cost or effort, these liabilities are subsequently measured at fair value with the changes in fair value being recognised in profit or loss. Debt instruments are subsequently stated at amortised cost. Interest expense is recognised on the basis of the effective interest method and is included in finance costs. Other financial liabilities are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting date. 8.2 Carrying amount of other financial liabilities by category Debt instruments at amortised cost Total Year ended 31 December 2022 Operating lease payable (Note 10) 58,640 58,640 Trade and other payables excluding non-financial liabilities (Note 9) 164,983 164,983 Credit card (Note 6) 4,642 4,642 228,265 228,265 Year ended 31 December 2021 Operating lease payable (Note 10) 97,438 97,438 Trade and other payables excluding non-financial liabilities (Note 9) 42,656 42,656 Credit card (Note 6) 2,465 2,465 142,559 142,559 FIGURES IN R NOTES 2022 2021 NOTES TO THE FINANCIAL STATEMENTS ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 17