GSK_ Annual_Report_2021-22

Notes to the Consolidated Financial Statements for the year ended March 31, 2022 245 (b) Fair value of financial assets and liabilities measured at amortised cost ( ` in lakhs ) As at March 31, 2022 As at March 31, 2021 Financial assets Security Deposits Carrying value 6,94.06 8,06.08 Fair value 6,94.06 8,06.08 Margin money/ Deposit against bank guarantee Carrying value 4,10.78 4,01.47 Fair value 4,10.78 4,01.47 Term Deposits more than twelve months Carrying value 1.45 1.45 Fair value 1.45 1.45 Loan to Related Parties Carrying value 190,00.00 - Fair value 190,00.00 - Financial liabilities Borrowings Carrying value - 2.40 Fair value - 2.40 Other financial lease liabilities Carrying value 20,07.65 34,60.26 Fair value 20,07.65 34,60.26 Security deposits received Carrying value 2,05.81 2,05.81 Fair value 2,05.81 2,05.81 The impact of fair valuation of the above Financial assets and liabilities is considered to be insignificant and hence carrying value and the fair value is considered to be same. The carrying amounts of Trade receivables, Cash and cash equivalents, Bank balances other than Cash and cash equivalents, Interest accrued on deposits with bank, Receivable from group companies, Advances recoverable, Payable to employees, Unclaimed Dividends, Trade payables, Creditors for capital goods, Rationalisation relating to a manufacturing site and Other Payables are considered to be the same as their fair values due to their short term nature. C. Financial risk management The Group has exposure to the following risks arising from financial instruments:  Credit risk ;  Liquidity risk ; and  Market risk Risk management framework GlaxoSmithKline’s board of directors has overall responsibility for the establishment and oversight of the Group’s risk management framework. The board of directors has established the Risk Management Committee, which is responsible for developing and monitoring the Group’s risk management policies. The committee reports regularly to the board of directors on its activities.