✨ Financial Statements
13 JULY 2011
NEW ZEALAND GAZETTE, No. 104
2959
Notes to the financial statements (continued)
in New Zealand Dollars ($000's)
13 Financial instruments (continued)
As at 31 March 2010
| Level 1 | Level 2 | Level 3 | Total | |
|---|---|---|---|---|
| Investments | 136,973 | - | - | 136,973 |
| Loans | - | - | 140 | 140 |
| Total Assets | 136,973 | - | 140 | 137,113 |
Level 3 Reconciliation
| Investments | 2011 | 2010 |
|---|---|---|
| Opening balance | 140 | 187 |
| Advances | 304 | 20 |
| Repayments | (111) | (36) |
| Fair value gain/(loss) recognised in the statement of comprehensive income | (96) | (31) |
| Transfer into or out of level 3 | - | - |
| Closing balance | 237 | 140 |
The fair value of financial instruments traded in active markets is based on quoted market prices at the balance date. These instruments are included in Level 1.
The fair value of financial instruments that are not traded in active markets is determined by using valuation techniques. These valuation techniques maximise the use of observable market data where it is available and rely as little as possible on entity specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in Level 2.
If one or more of the significant inputs are not based on observable market data, the instrument is included in Level 3.
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NZ Gazette 2011, No 104
✨ LLM interpretation of page content
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BayTrust Financial Statements
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🏢 State Enterprises & InsuranceFinancial Instruments, Capital Management, Sensitivity Analysis, Investment Portfolio, Returns