LIMITLESS
EARTH PLC
Notes to the financial statements
For the year ended 31 January 2022
12 FINANCIAL
ASSET INVESTMENTS
(CONTINUED)
The table of investments sets out the fair value measurements using the IFRS 7 fair value hierarchy. Categorisation
within the hierarchy has been determined on the basis of the lowest level of input that is significant to the fair value
measurement of the relevant asset as follows:
Level 1-valued using quoted prices in active markets for identical assets.
Level 2 -valued by reference to valuation techniques using observable inputs other than quoted prices included within
Level 1.
Level 3 -valued by reference to valuation techniques using inputs that are not based on observable market data.
The valuation techniques used by the Company are explained in the accounting policy note, "Financial asset
investments".
LEVEL 3 FINANCIAL ASSETS
Reconciliation of level 3 fair value measurement of financial assets:
Brought forward
Purchases
Sale proceeds from investments
Foreign currency exchange gain /(loss)
Fair value revaluation
Carried forward
13.TRADE AND OTHER RECEIVABLES
Other receivables
Prepayments
2022
£
2021
£
1,874,083
(97,356)
(24,347)
(227,820)
1,763,386
4,594
6,103
100,000
1,524,560
1,874,083
2022
£
2021
£
15,730
26,349
15,400
15,730
41,749
As trade receivables are generally of short-term maturity, the directors consider the carrying amounts to approximate
their fair value. All receivables are non-interest bearing and unsecured.
14.CASH AND CASH EQUIVALENTS
Cash at bank and on hand
2022
£
2021
£
95,737
157,310
95.737
157,310
All the Company's cash and cash equivalents are held in accounts which bear interest at floating rates. The Directors
consider that the carrying amount of cash and cash equivalents approximates to their fair value.
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