KATHMANDU A NNUAL REPORT  2013 67 (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: CARRYING AMOUNT GROUP PARENT 2013 2012 2013 2012 NZ$’000 NZ$’000 NZ$’000 NZ$’000 Cash and cash equivalents 2,345 1,811 5 26 Trade receivables 125 206 - - Sundry debtors 883 1,216 - - 3,353 3,233 5 26 CASH AND CASH EQUIVALENTS GROUP PARENT 2013 2012 2013 2012 NZ$’000 NZ$’000 NZ$’000 NZ$’000 Standard & Poors - AA - 2,075 884 5 26 Standard & Poors - A 270 927 - - Total Cash and cash equivalents 2,345 1,811 5 26 Trade receivables: Counterparties with external credit rating - - - - Counterparties without external credit rating 1 125 206 - - Total trade receivables 125 206 - - 1. Existing customers with no defaults in the past. The credit quality of financial assets that are neither past due not impaired can be assessed by reference to external credit ratings  (if available) or to historical information about counterparty default rates: As at balance date the carrying amount is also considered the fair value for each of the financial instruments.  There are no past due balances.