119 Cloudberry Annual report 2021 Financial statements off-take partners who have committed to buy electricity produced by or on behalf of the Group, banks providing financing and guarantees of the obligations of other parties, insurance companies providing coverage against various risks applicable to the Group’s assets, and other third parties who may have obligations towards the Group. The Group’s main credit risks arise from credit exposures with deposits with financial institutions and other short-term receivables. Counterparties in derivative contracts and financial deposits are limited to financial institutions with high creditworthiness. 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 on 31 December 2021. The carrying amount for assets and liabilities at amortised cost is believed to be close to fair value. 31 December 2021 NOK 1 000 Fianancial assts at amortised cost Liabilities at amortised cost Derivative financial instruments - hedge accounting Total Derivative financial instrument - - 6 579 6 579 Other non-current asset 3 846 - - 3 846 Total non-current financial assets 3 846 - 6 579 10 425 Trade and other current receivables 84 828 - - 84 828 Cash and cash equivalents 1 114 934 - - 1 114 934 Total current finacial assets 1 199 762 - - 1 199 762 Lease liability short term - (1 167) - (1 167) Current borrowings - (10 105) - (10 105) Total current financial liabilities - (11 272) - (11 272) Lease liability long term - (3 416) - (3 416) Financial liability for PPA termination - (4 600) - (4 600) Long term borrowings - (291 472) - (291 472) Derivatives - - (2 615) (2 615) Total non current financial liabilities - (299 489) (2 615) (302 104) Net financial assets (liabilities) 1 203 608 (310 761) 3 964 896 811
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