Gardens By the Bay 2019/2020

FINANCIAL STATEMENTS 118 NOTES TO FINANCIAL STATEMENTS 31 March 2020 Key sources of estimation uncertainty The key assumptions concerning the future and other key sources of estimation uncertainty at the end of the reporting period that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are as follows: Calculation of loss allowance The Company recognises lifetime ECL for trade receivables, using a provision matrix based on the Company’s historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date. For other receivables, the Company measures the loss allowance at an amount equal to 12-month ECL, as the credit risk has not increased significantly since initial recognition. The amount of the impairment loss based on ECL model is measured as the difference between all contractual cash flows that are due to the Company in accordance with the contract and all the cash flows that the Company expects to receive, discounted at the effective interest rate determined at initial recognition. Where the future cash flows are less than expected, or being revised downward due to changes in facts and circumstances, a material impairment loss may arise. As the end of the reporting period, the carrying amounts of trade and other receivables (excluding prepayments) totalled $5,052,026 (2019 : $4,618,117). 5 FINANCIAL INSTRUMENTS, FINANCIAL RISKS AND CAPITAL RISK MANAGEMENT (a) Categories of financial instruments The following table sets out the financial instruments as at the end of the reporting period: 2020 2019 $ $ Financial assets At amortised cost: Cash and cash equivalents 163,492,406 145,445,009 Trade receivables 1,475,988 1,891,250 Other receivables (excluding prepayments) 3,576,038 2,726,867 Government grant receivable 4,697,648 - 173,242,080 150,063,126 Financial liabilities At amortised cost: Trade and other payables (excluding deferred revenue) 19,066,413 22,399,959 Lease liabilities 5,300,147 - 24,366,560 22,399,959 Financial instruments subject to offsetting, enforceable master netting arrangements and similar agreements The Company does not have any financial instruments which are subject to enforceable master netting arrangements or similar netting agreements.