As of | ||
|---|---|---|
31 March 2026 $m | 31 March 2025 $m | |
Assets | ||
Currency swaps, forward and option contracts | 1 | 1 |
Interest swaps | 0 | 0 |
1 | 1 | |
Liabilities | ||
Currency swaps, forward and option contracts | 7 | 10 |
Embedded derivatives | 0 | 0 |
7 | 10 | |
| ||
Non-current derivative financial assets | 0 | 0 |
Current derivative financial assets | 1 | 1 |
Current derivative financial liabilities | (7) | (10) |
(6) | (9) | |
The Group holds derivatives which are accounted for as fair value through profit or loss. In some of these derivatives, on recognition, since the fair value of these derivatives could neither be evidenced by a quoted price in an active market nor data from any observable markets was available, the difference between the fair value at initial recognition and the transaction price is deferred and recognised on a straight-line basis over the tenure of such derivatives. The fair values of the derivatives are determined based on a valuation report by the derivative issuer.
A reconciliation of day 1 aggregate difference not recognised at the beginning and end of the year of changes in the balance of this difference is as follows:
For the year ended | ||
|---|---|---|
31 March 2026 $m | 31 March 2025 $m | |
Opening balance | – | 6 |
Less: Aggregate difference recognised in profit and loss | – | (6) |
Closing balance | – | – |