Page 55 - Demo

GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2018(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)2. Signifcant accounting policies (continued)viii) Financial assets and liabilitiesFinancial investments at amortised costThe Group only measures fnancial investments at amortised cost if both of the following conditions are met:%u2022 The fnancial asset is held within a business model with the objective to hold fnancial assets in order to collect contractual cash fows%u2022 The contractual terms of the fnancial asset give rise on specifed dates to cash fows that are solely payments of principal and interest (SPPI) on the principal amount outstanding.The Group%u2019s fnancial assets at amortised cost includes trade and other receivables and investment in treasury note.Debt instruments at FVOCI (Policy applicable from 1 January 2018)The Group applies the new category under IFRS 9 of debt instruments measured at FVOCI when both of the following conditions are met:%u2022 The instrument is held within a business model, the objective of which is achieved by both collecting contractual cash fows and selling fnancial assets.%u2022 The contractual terms of the fnancial asset meet the SPPI test.FVOCI debt instruments are subsequently measured at fair value with gains and losses arising due to changes in fair value recognised in OCI. Interest income and foreign exchange gains and losses are recognised in proft or loss in the same manner as for fnancial assets measured at amortised cost. The Group held no assets categories as FVOCI as at 31 December 2018.54 GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2018