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GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2019(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)14. Stated capital, treasury shares and other reserves (continued)2019 2018 c) Other reserve $ $Foreign currency reserveBalance as at 1 January 270 776Currency translation %u2013 (506)Balance as at 31 December 270 270The foreign currency reserve is used to record exchange differences arising from the translation of the financial statements of iRadio Inc. into Trinidad and Tobago dollars.15. Trade and other payables 2019 2018 $ $Trade creditors 5,112 2,347Other creditors and accruals 16,381 14,975VAT payable 859 1,231Amounts due to group companies (Note 21) 2,789 7,233 25,141 25,786In the normal course of business operations, writs were filed against the Group for libel, some of which remained outstanding at the year-end. Based on professional advice received, management has established provisions of $0.827 million (2018: $0.575 million) to cover potential liabilities of this nature.GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2019 101