66 annual report 2012  kAThMANdu (b) Credit risk Trade and other receivables Exposure to credit risk Credit risk is the risk of financial loss to the Group if a customer  or counterparty to a financial instrument fails to meet its  contractual obligations. this would arise principally from  the Group’s receivables from customers. the nature of the  customer base is such that there is no individual customer  concentration of credit risk. other financial instruments which  potentially subject the Group to credit risks principally consist of  bank balances, loans, advances and refund of taxes. the nature of the customer base is such that there is no  individual customer concentration of credit risk. the Group does not carry out credit evaluations for all new  customers requiring credit. Credit is generally only given to  government or local council backed institutions.  the below balances are recorded at their carrying amount  after any provision for loss on these financial instruments. the  maximum exposure to credit risk at reporting date was: are maintained based on regular monitoring of cash flow  forecasts. the Group has lending facilities of $142,671,855  (2011: $126,311,631) and operates well within this facility.  this includes short term bank overdraft requirements, and at  balance date no bank accounts were in overdraft. liquidity risk is the risk that an unforeseen event or  miscalculation in the required liquidity level will result in the  Group foregoing investment opportunities or not being able to  meet its obligations in a timely manner, and therefore gives rise  to lower investment income or to higher borrowing costs than  normal. prudent liquidity risk management includes maintaining  sufficient cash, and ensuring the availability of funding from  adequate amounts of credit facilities. the Group’s liquidity exposure is managed by ensuring  sufficient levels of liquid assets and committed facilities  the table below analyses the Group’s financial liabilities and  net-settled derivative financial liabilities into relevant maturity  groupings based on the remaining period at the balance date  to the contractual maturity date. the amounts disclosed in the  table are the contractual undiscounted cash flows. (c) Liquidity risk As at balance date the carrying amount is also considered the fair value for each of the financial instruments. CArrYInG Amount Group pArent 2012 nZ$’000 2011 nZ$’000 2012 nZ$’000 2011 nZ$’000 Cash and cash equivalents 1,811 3,574 26 5 Trade receivables 206 92 - - Sundry debtors 1,216 407 - - 3,233 4,073 26 5 Less than  1 year nZ$’000 Between  1 and 2 years nZ$’000 Between  2 and 5 years nZ$’000 over  5 years nZ$’000 Group 2012 Trade and other payables 29,304 - - - Guarantees 13,103 - - - Borrowings 3,128 3,128 54,932 - 45,535 3,128 54,932 - Group 2011 Trade and other payables 21,012 - - - Guarantees 12,215 - - - Borrowings 2,163 47,274 - - 35,390 47,274 - -