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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)3. Signifcant accounting estimates, assumptions and judgments (continued)Property, plant and equipment (continued)The accounting policy related to property, plant and equipment is disclosed in Note 2 (iv).Impairment of fnancial assetsManagement makes judgments at each Consolidated Statement of Financial Position date to determine whether fnancial assets are impaired when the carrying value is greater than the recoverable amount and there is objective evidence of impairment. The recoverable amount is the present value of the future cash fows.Deferred taxesDeferred tax assets are recognised for all unused tax losses to the extent that it is probable that taxable proft will be available against which the losses can be utilised. Signifcant management judgment is required to determine the amount of deferred tax assets that can be recognised, based upon the timing and the level of future taxable profts together with future tax planning strategies.Pension and other post%u2013employment beneftsThe cost of defned beneft pension plans and other post-employment medical benefts is determined using actuarial valuations. The actuarial valuation involves making assumptions about discount rates, expected rates of return on assets, future salary increases, mortality rates and future pension increases. Due to the long-term nature of these plans, such estimates are subject to signifcant uncertainty. Further details are given in Note 7.LibelIn the course of normal business operation, writs were fled against the Group for libel. Estimates included are based on professional advice received and management has established provisions to cover contingencies of this nature.74 GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2018