Accounting policy
Trade and other payables, excluding payroll creditors, leave pay accruals and VAT payable are non-derivative financial liabilities
categorised as other financial liabilities. Trade and other payables are recognised initially at fair value and subsequently measured at
amortised cost using the effective interest method.
Provision is made for employee entitlement benefits accumulated as a result of employees rendering services up to the reporting date.
Liabilities arising in respect of wages and salaries, annual leave and other benefits due to be settled within 12 months of the reporting date
are measured at rates which are expected to be paid when the liability is settled. Termination benefits are expensed and an accrual
raised at the earlier of when the Group can no longer withdraw the offer of those benefits and when the Group recognises costs for a
restructuring. If benefits are not expected to be settled wholly within 12 months of the reporting date, they are discounted.
All other employee entitlement liabilities are measured at the present value of estimated payments to be made in respect of services
rendered up to reporting date.