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ANNUAL REPORT 2023 127GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2023(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)Year ended 31 December 2022 TT US Total$ $ $ASSETSCash and short term%u2013deposits 74,905 1,086 75,991Investment securities 4,401 %u2013 4,401Trade and other receivables 40,963 %u2013 40,963 120,269 1,086 121,355LIABILITIESLease liabilities 10,769 %u2013 10,769Trade and other payables 18,711 3,544 22,255 29,480 3,544 33,024Net currency risk exposure (2,458)25. Risk management (continued)Currency risk (continued)Credit riskThe Group considers its credit risk with trade debtors to be limited due to the large number of customers comprising the Group%u2019s customer base. The Group grants credit based on evaluations of its customers%u2019 financial situation, and continually monitors the exposure of potential losses from granting credit. The maximum exposure is equal to the carrying amount of trade and other receivables.With respect to credit risk arising from other financial assets which primarily comprises of cash and cash equivalents, the exposure to credit risk arises from default of the counter party. These deposits are placed with highly rated local financial institutions.