Page 74 - Sundance Resources 2014 Annual Report

72 SUNDANCE RESOURCES LIMITED ANNUAL REPORT 2014
NOTE 6. FINANCIAL ASSETS AND FINANCIAL LIABILITIES (continued)
Fair value of financial assets and financial liabilities that are not measured at fair value on a recurring basis (but
where fair value disclosures are required)
Except as detailed in the following table, the Directors consider that the carrying amounts of financial assets and financial
liabilities recognised in the consolidated financial statements approximate their fair values.
Financial Liabilities
30-Jun-14 30-June-2013
Carrying Amount
$
Fair Value
$
Carrying Amount
$
Fair Value
$
Convertible note debt liability - Noble 16,116,252 16,721,346 - -
Convertible note debt liability - Investor
Consortium 12,665,263 13,270,356 - -
The fair value amounts have been derived from independent valuation at balance sheet date, while the carrying amount
reflects the fair value less the capitalised borrowing costs incurred in the arrangement of the Noble and Investor Consortium
convertible notes.
Note 6(d) Trade and Other Payables
2014
$
2013
$
CURRENT
Trade payables 1,636,829 2,131,240
Sundry payables and accrued expenses 885,123 4,407,495
2,521,952 6,538,735
Trade payables and sundry creditors are non-interest bearing and generally on 30 day terms.
NOTES TO THE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2014