REPORTING CONTEXT ABOUT US OUR OPERATING CONTEXT OUR PERFORMANCE OUR LEADERSHIP GOVERNANCE OUR FINANCIAL STATEMENTS SHAREHOLDERS' CORNER 3.2 Fair value estimation of financial instruments The fair value of financial instruments traded in active markets is based on quoted market prices at the end of the reporting date. The fair value of financial instruments that are not traded in an active market is stated on a weighted average of earnings and asset value. The nominal value less estimated credit adjustments of trade receivables and payables are assumed to approximate their fair values. The fair value of those financial assets and liabilities is not presented on the Group’s statements of financial position at the fair values are not materially different from their carrying amounts. Fair value measurements recognised in the statements of financial position The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 based on the degree to which the fair value is observable: • Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets and liabilities; • Level 2 fair value measurements are those derived from inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and • Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs). THE COMPANY Level 1 MUR '000 Level 2 MUR '000 Level 3 MUR '000 Total MUR '000 2022 Investments in subsidiaries – – 1 378 939 1 378 939 Investments in associate – – 1 077 1 077 Financial assets at fair value through other comprehensive income – – 2 091 2 091 Total – – 1 382 107 1 382 107 THE COMPANY Level 1 MUR '000 Level 2 MUR '000 Level 3 MUR '000 Total MUR '000 2021 Investments in subsidiaries – – 1 478 976 1 478 976 Investments in associate – – 1 110 1 110 Financial assets at fair value through other comprehensive income – – 2 091 2 091 Total – – 1 482 177 1 482 177 3. FINANCIAL RISK MANAGEMENT (continued) THE GROUP Level 1 MUR '000 Level 2 MUR '000 Level 3 MUR '000 Total MUR '000 2022 Financial assets at fair value through other comprehensive income – – 3 330 3 330 THE GROUP Level 1 MUR '000 Level 2 MUR '000 Level 3 MUR '000 Total MUR '000 2021 Financial assets at fair value through other comprehensive income – – 3 440 3 440 Reconciliation of level 3 fair value measurements of financial assets THE GROUP THE COMPANY 2022 MUR '000 2021 MUR '000 2022 MUR '000 2021 MUR '000 At 1 July 3 440 3 236 1 482 177 1 188 622 Additions – – – 50 Exchange differences (110) 204 – – Total (loss)/gains recognised in other comprehensive income – – (100 070) 293 505 At 30 June 3 330 3 440 1 382 107 1 482 177 NOTES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 153 152 Phoenix Beverages Limited Integrated Report 2022 Phoenix Beverages Limited Integrated Report 2022
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