EXAMPLE PAGE - ANNUAL REPORT - THE SWEDISH CLUB - Flipbook - Sida 65
NOTES - FINANCIAL STATEMENTS
2020
Financial assets measured at fair
value through profit or loss
Loans receivables
measured at
amortised cost
Total
carrying
amount
Fair
value
Assets designated as belonging to this category
Financial assets
Shares
Bonds and other interest-bearing
securities
Forward exchange agreements
Other receivables
Cash and bank balances
Other assets
79,982
-
79,982
79,982
313,654
3,648
-
336
24,757
713
313,654
3,648
336
24,757
713
313,654
3,648
- 1)
- 1)
- 1)
Total financial assets
397,284
25,806
423,090
397,284
Other financial liabilities
measured at
amortised cost
Total
carrying
amount
Fair
value
Financial liabilities
Other liabilities
6,192
6,192
- 1)
Total financial liabilities
6,192
6,192
-
2020
1)
Disclosure on fair value has not been provided because the carrying amount is deemed as being a reasonable approximation of fair value.
Calculation of fair value
Level 2
Capital requirements
The following is a summary of the primary
methods and assumptions that have been
used to determine the fair value of
financial instruments, which are reported
at fair value in the balance sheet:
In those few instances where prices are not
readily available, valuation has been made
by an independent nominee, who, by own
account, has used price components that
can be observed on the market and which
therefore are included in Level 2.
FI’s (the Swedish financial supervisory
authority) oversight of insurance
companies includes a quarterly
reporting requirement on Solvency
Capital Requirement (SCR) and own
funds. SCR at the end of 2021 was
USD 148.2 million compared to eligible
own funds that amount to USD 268.6
million.
Level 1
For financial instruments listed on an
active market (investment assets) the fair
value is determined on the basis of the
asset’s listed buying rate on the reporting
date, not including transaction costs
(such as brokerage fees) at the time of
acquisition. Any future transaction costs
related to disposal are not taken into
account.
2021
Level 3
The Club uses valuations performed by
an independent nominee.
In the table below, data is provided on how
fair value is decided based on the
description of the levels provided above for
the financial instruments that are
measured at fair value in the balance sheet.
Level 1
Level 2
Level 3
Total
Shares
Bonds and other interest-bearing securities
Forward exchange agreements
81,565
282,473
-
21,806
-
4,808
-
81,565
309,087
-
Total
364,038
21,806
4,808
390,652
THE SWEDISH CLUB ANNUAL REPORT 2021
65