The table below provides a reconciliation of the individual classes and categories of IFRS 9 to the items of the statement of financial position and the fair values as at 30 June 2021:
EUR '000 |
|
Carrying amount 30/06/2021 |
|
Fair value 30/06/2021 |
|---|---|---|---|---|
|
|
|
|
|
ASSETS |
|
|
|
|
At amortised cost |
|
|
|
|
Non-current financial assets |
|
27 |
|
27 |
Non-current trade and other receivables |
|
5,775 |
|
5,775 |
Current trade and other receivables |
|
29,936 |
|
29,936 |
Cash and cash equivalents |
|
1,725 |
|
1,725 |
At fair value through profit or loss |
|
|
|
|
Receivables intended for factoring |
|
4,617 |
|
4,617 |
Total |
|
42,080 |
|
42,080 |
EUR '000 |
|
Carrying amount 30/06/2021 |
|
Fair value 30/06/2021 |
|---|---|---|---|---|
|
|
|
|
|
LIABILITIES |
|
|
|
|
At amortised cost |
|
|
|
|
Other non-current financial liabilities |
|
208 |
|
208 |
Non-current lease liabilities |
|
16,819 |
|
n/a |
Non-current trade payables |
|
37,250 |
|
37,250 |
Current financial liabilities |
|
56,900 |
|
56,900 |
Current lease liabilities |
|
4,241 |
|
n/a |
Current trade payables |
|
64,103 |
|
64,103 |
Other current financial liabilities |
|
33,234 |
|
33,234 |
Total |
|
212,755 |
|
191,695 |
EUR '000 |
|
Carrying amount 30/06/2020 |
|
Fair value 30/06/2020 |
|---|---|---|---|---|
|
|
|
|
|
ASSETS |
|
|
|
|
At amortised cost |
|
|
|
|
Non-current financial assets |
|
32 |
|
32 |
Non-current trade and other receivables |
|
3,565 |
|
3,565 |
Current trade and other receivables |
|
36,520 |
|
36,520 |
Cash and cash equivalents |
|
3,317 |
|
3,317 |
At fair value through profit or loss |
|
|
|
|
Receivables intended for factoring |
|
9,115 |
|
9,115 |
Total |
|
52,549 |
|
52,549 |
EUR '000 |
|
Carrying amount 30/06/2020 |
|
Fair value 30/06/2020 |
|---|---|---|---|---|
|
|
|
|
|
LIABILITIES |
|
|
|
|
At amortised cost |
|
|
|
|
Other non-current financial liabilities |
|
0 |
|
0 |
Non-current lease liabilities |
|
20,054 |
|
n/a |
Non-current trade payables |
|
69,627 |
|
69,627 |
Other trade payables |
|
8,031 |
|
8,031 |
Current lease liabilities |
|
4,350 |
|
n/a |
Current trade payables |
|
67,432 |
|
67,432 |
Other current financial liabilities |
|
39,115 |
|
39,115 |
Total |
|
208,609 |
|
184,205 |
Any necessary transfers between the levels of the fair value hierarchy take place as at the end of the financial year in which the event triggering them occurs. There were no reclassifications in the current financial year. The fair value of receivables earmarked for factoring is assigned to level 3 and the fair value of all other financial instruments specified above is assigned to level 2.
Due to their short residual terms, the carrying amounts reported for current trade receivables and payables and cash are roughly equivalent to their fair values.
Non-current trade receivables and liabilities are discounted to present value and accrue interest. In these cases, the carrying amounts largely correspond to fair value.
Receivables that can potentially be sold as part of factoring are recognised at fair value through profit or loss on the basis of the business model in accordance with the requirements of IFRS 9. The fair value is measured by discounting the cash flows. The measurement models take into account the present value of the expected payments, discounted using a risk-adjusted discount rate. Borussia Dortmund regularly receives an individually-calculated discount rate from the factor (30 June 2021: 2.65%). Thus, the fair value would increase (decrease) at the same rate if the discount rate were lower (higher). Since the changes in fair value are recognised in the income statement, the table below presents the effects on earnings as at the end of the reporting period:
EUR '000 |
|
|
|---|---|---|
|
|
|
Carrying amount of receivables intended for factoring (1 July 2020) |
|
9,115 |
Additions |
|
0 |
Disposals |
|
-4,750 |
Gains/losses recognised through profit or loss |
|
252 |
Carrying amount of receivables intended for factoring (30 June 2021) |
|
4,617 |
The fair value of other financial assets and liabilities is measured using the discounted cash flow valuation technique. The discount rates used were taken from the “Yields on listed Federal securities” as published by the Bundesbank at the end of the reporting period, plus a risk premium.
The discount rates valid at the end of the reporting period had matching maturities and formed the basis of the valuation model.