64 Impact Minerals Ltd Annual Report 2022 Notes to the Consolidated Financial Statements continued NOTE 23: FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONTINUED) Interest rate risk (continued) The following table sets out the carrying amount, by maturity, of the financial instruments that are exposed to interest rate risk: Floating interest rate $ Fixed interest rate maturing in Noninterest bearing $ Total $ 1 year or less $ Over 1 to 5 years $ More than 5 years $ Consolidated – 2022 Financial assets Cash and cash equivalents – 25,000 – – 3,791,089 3,816,089 Trade and other receivables – – – – 107,172 107,172 – 25,000 – – 3,898,261 3,923,261 Weighted average interest rate – 0.32% – – – – Financial liabilities Trade and other payables – – – – 508,446 508,446 – – – – 508,446 508,446 Weighted average interest rate – – – – – – Consolidated – 2021 Financial assets Cash and cash equivalents – 2,525,000 – – 890,778 3,415,778 Trade and other receivables – – – – 38,999 38,999 – 2,525,000 – – 929,777 3,454,777 Weighted average interest rate – 0.66% – – – – Financial liabilities Trade and other payables – – – – 299,789 299,789 – – – – 299,789 299,789 Weighted average interest rate – – – – – – Fair value sensitivity analysis for fixed rate instruments The Group does not account for any fixed rate financial assets or liabilities at fair value through profit or loss. Therefore, a change in interest rates at the reporting date would not affect profit or loss.
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