Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Financial Risk Management (Tables)

v3.21.1
Financial Risk Management (Tables)
12 Months Ended
Jan. 31, 2021
Statement Line Items [Line Items]  
Disclosure of Financial Assets

The financial assets of the Group were as follows:

 

    31 January 2021
NZ$000’s
   

31 January 2020

NZ$000’s

 
- Cash and cash equivalents     90,925       3,791  
- Trade receivables     1,462       2,336  
      92,387       6,127  

Disclosure of Financial Risk Management

The Group’s liabilities have contractual maturities which are summarised below, it should be noted these amounts are undiscounted contractual cash flows as required by IFRS 7:

 

    Non-derivatives Borrowings
NZ$000’s
    Non-derivatives Trade payables
NZ$000’s
    Non-derivatives Total
NZ$000’s
    Derivatives Gross future cash settlement on forward currency contracts - inflow
NZ$000’s
    Derivatives Gross future cash settlement on forward currency contracts - (outflow)
NZ$000’s
    Derivatives Total
NZ$000’s
 
Not later than 1 month                                    
31 January 2021     48       6,250       6,289             -             -             -  
31 January 2020     2,052       10,407       12,459       -       -       -  
1 to 3 months                                                
31 January 2021     14,596       -       14,596       -       -       -  
31 January 2020     18,044       -       18,044       -       -       -  
3 months to 1 year                                                
31 January 2021     -       -       -       -       -       -  
31 January 2020     -       -       -       -       -       -  
1 to 5 years                                                
31 January 2021     4,256       -       4,256       -       -       -  
31 January 2020     28,764       -       28,764       -       -       -  
                                                 
Total                                                
31 January 2021     18,900       6,250       25,150       -       -       -  
31 January 2020     48,860       10,407       59,267       -       -       -  

Disclosure of Credit Risk Exposure

The credit quality of financial assets that are neither past due nor impaired can be assessed by reference to external credit ratings if available or historical information about counterparty default rate.

  

    31 January 2021
NZ$000’s
   

31 January 2020

NZ$000’s

   

31 January 2019

NZ$000’s

 
Trade receivables                        
Counterparty without external credit ratings                        
New customer less than 6 months     -       -       42  
Existing customers (more than 6 months with default in past)     1,645       2,358       7,747  
Total     1,645       2,358       7,789  

 

Cash at bank    

31 January 2021

NZ$000’s

     

31 January 2020

NZ$000’s

     

31 January 2019

NZ$000’s

 
Credit ratings                        
AA-     90,887       3,747       1,915  
A+     -       -       -  
Total     90,887       3,747       1,915  

Disclosure of Market Risk

Foreign currency denominated financial assets and liabilities, translated into New Zealand Dollars at the closing rate, are as follows:

 

    AUD
NZ$000’s
    USD
NZ$000’s
    GBP
NZ$000’s
    EUR
NZ$000’s
    HKD
NZ$000’s
    Total
NZ$000’s
 
31 January 2021                                                
Nominal amounts                                                
Trade receivables     -       (2 )     13       90       -       101  
Trade payables     20       741       -       -       -       761  
Cash and cash equivalents     9,943       78,506       89       12       2       88,552  
31 January 2020                                                
Nominal amounts                                                
Trade receivables     -       19       20       441       -       480  
Trade payables     12       4,068       85       1       2       4,168  
Cash and cash equivalents     1,500       747       85       5       4       2,341  
31 January 2019                                                
Nominal amounts                                                
Trade receivables     51       42       -       285       -       378  
Trade payables     1       9,035       8       61       7       9,112  
Cash and cash equivalents     623       149       38       8       11       829  

Disclosure of Detailed Information About Hedging Instruments

The following table summarises the notional amount of the Group’s commitments in relation to forward exchange contracts.

 

    Notional Amounts     Average Exchange Rate  
    31 January 2021
NZ$000’s
   

31 January 2020

NZ$000’s

   

31 January 2019

NZ$000’s

    31 January 2021
$
   

31 January 2020

$

   

31 January 2019

$

 
Buy USD / sell NZD                                                
Settlement                                                
Less than 6 months            -              -       34,395                -                   -       0.6620  

 

    NZ$000’s     NZ$000’s     NZ$000’s         $     $  
Buy AUD / sell NZD                                                
Settlement                                                
Less than 6 months             -               -              -                    -              -            -  

Disclosure of Financial Instruments by Type of Interest Rate
    31 January 2021
NZ$000’s
   

31 January 2020

NZ$000’s

 
Floating rate instruments                
Bank overdrafts     -       -  
Working capital financing bank facility     -       -  
Convertible notes     -       -  
Borrowings     14,500       17,900  
      14,500       17,900
Currency risk [member]  
Statement Line Items [Line Items]  
Sensitivity Analysis for Types of Market Risk
    NZ$000’s  
      +10%       -10%  
USD                
Net results/Equity (31 January 2021)     (460 )     460  
Net results/Equity (31 January 2020)     (594 )     594  
Net results/Equity (31 January 2019)     (954 )     954  
AUD                
Net results/Equity (31 January 2021)     (2 )     2  
Net results/Equity (31 January 2020)     (1 )     1  
Net results/Equity (31 January 2019)     (5 )     5  
GBP                
Net results/Equity (31 January 2021)     (9 )     9  
Net results/Equity (31 January 2020)     (16 )     16  
Net results/Equity (31 January 2019)     (1 )     1  
EUR                
Net results/Equity (31 January 2021)     (10 )     10  
Net results/Equity (31 January 2020)     (42 )     42  
Net results/Equity (31 January 2019)     (32 )     32  
HKD                
Net results/Equity (31 January 2021)     -       -  
Net results/Equity (31 January 2020)     -       -  
Net results/Equity (31 January 2019)     (1 )     1
Interest Rate Risk [Member]  
Statement Line Items [Line Items]  
Sensitivity Analysis for Types of Market Risk
    NZ$000’s  
    1.00%     -1.00%  
             
Net results/Equity (31 January 2021)     145       (145 )
Net results/Equity (31 January 2020)     179       (179 )