Page 70 - Sundance Resources 2014 Annual Report

68 SUNDANCE RESOURCES LIMITED ANNUAL REPORT 2014
NOTE 6. FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Notes 2014
$
2013
$
FINANCIAL ASSETS
Cash and cash equivalents 6(a) 14,377,685 19,629,458
Trade and other receivables 6(b) 183,201 708,333
Total Financial Assets 14,560,886 20,337,791
FINANCIAL LIABILITIES
Borrowings 6(c) 38,215,706 4,793,774
Trade payables and accruals 6(d) 2,521,952 6,538,735
Total Financial Liabilities 40,737,658 11,332,509
Note 6(a) Cash and cash equivalents
2014
$
2013
$
Cash at bank and in hand 3,377,685 7,629,458
Short-term bank deposits 11,000,000 12,000,000
14,377,685 19,629,458
Cash comprises cash on hand and demand deposits. Cash equivalents are short-term, highly liquid investments that are
readily convertible to known amounts of cash, which are subject to an insignificant risk of changes in value and have a
maturity of three months or less at the date of acquisition.
The effective interest rate on short-term deposits was 3.53% (2013: 3.05%). These deposits have an average maturity of 21 days.
Note 6(b) Trade and other receivables
2014
$
2013
$
Other receivables 183,201 708,333
183,201 708,333
NOTES TO THE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2014