59
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2000
29. FINANCIAL INSTRUMENTS (continued)
(b) Interest Rate Risk
The economic entity’s exposure to interest rate risks and the effective interest rates of financial assets and financial liabilities as at 30 June 2000 are as follows:
Floating interest rate Fixed interest rate maturing in: Non interest bearing Total carrying
Financial Instruments 1 year or less Over 1 to 5 years Over 5 years amount as per Weighted average
$$ $ $ $ balance sheet interest rate
$
(i) Financial Assets
Cash 3,004,977 –– – – 3,000,977 4.8%
Trade debtors –– – – 2,716,209 2,716,209 N/a
Other debtors –– – – 428,814 428,814 N/a
Loans - related parties – 11,184 –– – 11,184 6.7%
Total Financial Assets 3,004,977 11,184 –– 3,145,023 6,161,184
(ii) Financial Liabilities
Trade creditors –– – – 1,844,206 1,844,206 N/a
Other creditors andaccruals –– – – 519,300 519,300 N/a
Hire purchase liability – 1,185,305 6,218,592 –– 7,403,897 8.57%
Bank loan - secured 6,500,000 –– – – 6,500,000 7.30%
Loan payable - otherpersons –– – – – – 8.00%
Employee entitlements –– – – 594,276 594,276 N/a
Total Financial Liabilities 6,500,000 1,185,305 6,218,592 – 2,957,782 16,861,679
N/a:  not applicable for non-interest bearing financial instruments