Cloudberry Clean Energy Annual report 2020

Cloudberry Annual report 2020 Financial statements 92 Note 10 Financial instruments This note provides an overview of all financial instruments held by the Group. The table below shows the Groups financial instruments with their carrying amounts recognised in the consolidated financial position at 31 December 2020. The carrying amount for assets and liabilities at amortised cost is believed to be close to fair value. NOK 1 000 Financial assets at fair value througt profit or loss Fianancial assts at amortised cost Liabilities at amortised cost Derivative financial instruments - hedge accounting Total Derivative financial instrument - - - 1 322 1 322 Other non-current asset - 1 035 - - 1 035 Total non-current financial assets - 1 035 - 1 322 2 358 Cash and cash equivalents - 758 140 - - 758 140 Total current finacial assets - 758 140 - - 758 140 Lease liability short term - - -1 105 - -1 105 Current borrowings - - -236 767 - -236 767 Total current financial liabilities - - -237 872 - -237 872 Lease liability long term - - -3 296 - -3 296 Financial liability for PPA termination - - -4 641 - -4 641 Long term borrowings - - -26 266 - -26 266 Derivatives - - - -173 -173 Total non current financial liabilities - - -34 203 -173 -34 377 Net financial assets (liabilities) - 759 175 -272 075 1 149 488 249 The fair value of the interest rate swaps derivatives is calculated as the present value of the estimated future cash flows based on observable yield curves (level 2). Changes in fair value relate to daily changes in market prices of the derivative contracts and the volume of contracts. The fair value of the Groups derivative finan- cial instruments has been determined by external banks.