72
ICON ENERGY LIMITED
2015 Annual Report ABN 61 058 454 569
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2015
72
FOR THE YEAR ENDED 30 JUNE 2015
Consolidated
Entity
Within 1 year
$
1 to 5 years
$
30 June 2015
NOTES
Financial
assets
Cash and
cash
equivalents
4
2.51% 8,748,031
-
-
489
8,748,520
Term deposits 6
3.34% 5,000,000
-
-
-
5,000,000
Trade and
other
receivables
5
-
-
-
111,360
111,360
13,748,031
-
-
111,849
13,859,878
Financial
liabilities
Trade and
other
payables
9
-
-
-
776,665
776,665
-
-
-
776,665
776,665
30 June 2014
NOTES
Financial
assets
Cash and
cash
equivalents
4
2.26% 7,605,332
-
-
129
7,605,461
Term deposits 6
3.77% 12,000,000
-
-
-
12,000,000
Trade and
other
receivables
5
-
-
-
9,080,045 9,080,045
19,605,332
-
-
9,080,173 28,685,505
Financial
liabilities
Trade and
other
payables
9
-
-
-
1,471,170 1,471,170
-
-
-
1,471,170 1,471,170
Cash flow sensitivity analysis for variable rate instruments
NOTE 20 - FINANCIAL RISK MANAGEMENT (CONTINUED)
Total Financial Assets
The sensitivity analyses have been determined based on the exposure of the consolidated entity to variable
interest rates for non-derivative financial instruments at the reporting date at the stipulated change taking place at
the beginning of the financial year and held constant throughout the reporting period. A 0.5% increase or
decrease is used when reporting interest rates internally to the board of directors and represents management’s
assessment of the possible change in interest rates.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Total
$
The consolidated entity’s exposure to interest rate risk, which is the risk that a financial instrument’s value will
fluctuate as a result of changes in market interest rates and the effective weighted average interest rates on those
financial assets and financial liabilities, is as follows:
Floating
Interest
$
Total Financial Liabilities
The consolidated entity does not use long-term debt to finance its exploration activities.The company has a policy
that when production operations commence in Australia, the interest rate risk will be managed with a mixture of
fixed and floating rate debt.
Non interest
bearing
$
Total Financial Liabilities
Weighted
Average
Interest Rate
%
Fixed Interest Rate Maturing
Total Financial Assets
72
FOR THE YEAR ENDED 30 JUNE 2015
Consolidated
Entity
Within 1 year
$
1 to 5 years
$
30 June 2015
NOTES
Financial
assets
C and
cash
equivalents
4
2.51% 8,748,031
-
-
489
8,748,520
Term deposits 6
3.34% 5,000,000
-
-
-
5,000,000
Trade and
oth r
receivables
5
-
-
-
111,360
111,360
13,748,031
-
-
111,849
13,859,878
Financial
liabilities
Trade and
other
payables
9
-
-
-
776,665
776,665
-
-
-
776,665
776,665
30 June 2014
NOTES
Financial
as ets
C and
cash
equival nts
4
2.26
7,6 5,332
-
-
129
7,6 5,461
Term deposits 6
3.77% 12,000,000
-
-
-
12,000,000
Trade and
oth r
receivables
5
-
-
-
9,080,045 9,080,045
19,605,332
-
-
9,080,173 28,685,505
Financial
liabilities
Trade and
other
payables
9
-
-
-
1,471,170 1,471,170
-
-
-
1,471,170 1,471,170
Cash flow sensitivity analysis for variable rate instruments
NOTE 20 - FINANCIAL RISK MANAGEMENT (CONTINUED)
Tot l Financial Assets
Th sensitivity analyses h ve been determined based on the exposure of the consolid t entity to variable
int rest rates f r non-derivative fin cial instruments at the reporting date at th stipulated chang taking place at
the beginning of the fi ancial year and held constant throug out the reporting period. A 0.5% i crease or
decrease is used when reporting interes rates in rnally to the board of directors and represents management’s
assessment of the possible change in interest rates.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Total
$
The consolid t d entity’s expo ure to interest rate risk, which is th risk that a financial instrument’s value will
luctuate a result of changes in market interest rates and the effective weighted average interest rates on those
financial assets and financial liabilities, is as follows:
Floating
Interest
$
Total Financial Liabilities
The consolidated e tity does ot use long-t rm debt to finance its explorat on activities.The company has a p licy
that when production operations commence in Australia, the interest rate risk will be managed with a mixture of
fixed and floating rate debt.
Non interest
bearing
$
Total Financial Liabilities
Weighted
Av rage
Interest Rate
%
Fixed Interest Rate Maturing
Total Financial Assets
