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ANNUAL REPORT
2015
Notes to The Consolidated Financial Statement
AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES
31 December 2015
28. CAPITAL COMMITMENTS
The Group has concluded construction contracts with third parties and is consequently committed to future capital expenditure
in respect of properties under construction amounting to KD 13,234,883 (2014: KD 17,418,130).
The Group has commitments amounting to KD 7,250,671 (2014: KD 8,998,633) to purchase land from a third party.
29. FAIR VALUES MEASUREMENT
Financial instruments comprise financial assets and financial liabilities
The fair value of financial assets and financial liabilities that are not carried at fair value is not materially different from their
carrying amounts.
The methodologies and assumptions used to determine fair values of assets is described in fair value section of Note 4: Significant
Accounting Policies.
Financial instruments
The Group held the following financial instruments available for sale that are fair valued at the reporting date in the consolidated
statement of financial position:
Certain unquoted investments with carrying value of KD 1,952,600 (31 December 2014: KD 1,931,434) are carried at cost less
impairment losses.
The following table shows a reconciliation of the opening and closing amount of level 3 assets which are recorded at fair value:
-
At 1 January
2015
KD
Loss
recorded in the
consolidated
statement of
income
KD
Financial assets available for sale:
Funds and managed portfolio
Loss recorded
in other
comprehensive
income
KD
Net
purchases,
sales and
settlements
KD
At
31 December
2015
KD
)16,708(
7,413,632
)250,912(
7,146,012
-
At 1 January
2014
KD
Loss
recorded in the
consolidated
statement of
income
KD
Loss recorded
in other
comprehensive
income
KD
Net
purchases,
sales and
settlements
KD
At
31 December
2014
KD
-
7,478,115
)64,483(
7,413,632
2015
2014
9,168,942
10,141,263
Level 1
KD
Level 1
KD
Financial assets available for sale
Financial assets available for sale
Level 3
KD
Level 3
KD
Total
KD
Total
KD
2,022,930
2,727,631
7,146,012
7,413,632
Financial assets available for sale:
Funds and managed portfolio
85