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Financial Risk Management (Tables) | 12 Months Ended
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Jan. 31, 2021
Statement Line Items [Line Items] |
Disclosure of Financial Assets | The financial assets of the Group were as follows:
|  | 31 January 2021 NZ$000’s |  |  | 31 January 2020 NZ$000’s |
- Cash and cash equivalents |  |  | 90,925 |  |  |  | 3,791 |
- Trade receivables |  |  | 1,462 |  |  |  | 2,336 |
|  |  | 92,387 |  |  |  | 6,127 |
Disclosure of Financial Risk Management | The Group’s liabilities have contractual maturities which are summarised below, it should be noted these amounts are undiscounted contractual cash flows as required by IFRS 7:
|  | Non-derivatives Borrowings NZ$000’s |  |  | Non-derivatives Trade payables NZ$000’s |  |  | Non-derivatives Total NZ$000’s |  |  | Derivatives Gross future cash settlement on forward currency contracts - inflow NZ$000’s |  |  | Derivatives Gross future cash settlement on forward currency contracts - (outflow) NZ$000’s |  |  | Derivatives Total NZ$000’s |
Not later than 1 month |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
31 January 2021 |  |  | 48 |  |  |  | 6,250 |  |  |  | 6,289 |  |  |  | - |  |  |  | - |  |  |  | - |
31 January 2020 |  |  | 2,052 |  |  |  | 10,407 |  |  |  | 12,459 |  |  |  | - |  |  |  | - |  |  |  | - |
1 to 3 months |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
31 January 2021 |  |  | 14,596 |  |  |  | - |  |  |  | 14,596 |  |  |  | - |  |  |  | - |  |  |  | - |
31 January 2020 |  |  | 18,044 |  |  |  | - |  |  |  | 18,044 |  |  |  | - |  |  |  | - |  |  |  | - |
3 months to 1 year |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
31 January 2021 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
31 January 2020 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
1 to 5 years |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
31 January 2021 |  |  | 4,256 |  |  |  | - |  |  |  | 4,256 |  |  |  | - |  |  |  | - |  |  |  | - |
31 January 2020 |  |  | 28,764 |  |  |  | - |  |  |  | 28,764 |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
31 January 2021 |  |  | 18,900 |  |  |  | 6,250 |  |  |  | 25,150 |  |  |  | - |  |  |  | - |  |  |  | - |
31 January 2020 |  |  | 48,860 |  |  |  | 10,407 |  |  |  | 59,267 |  |  |  | - |  |  |  | - |  |  |  | - |
Disclosure of Credit Risk Exposure | The credit quality of financial assets that are neither past due nor impaired can be assessed by reference to external credit ratings if available or historical information about counterparty default rate.
|  | 31 January 2021 NZ$000’s |  |  | 31 January 2020 NZ$000’s |  |  | 31 January 2019 NZ$000’s |
Trade receivables |  |  |  |  |  |  |  |  |  |  |  |
Counterparty without external credit ratings |  |  |  |  |  |  |  |  |  |  |  |
New customer less than 6 months |  |  | - |  |  |  | - |  |  |  | 42 |
Existing customers (more than 6 months with default in past) |  |  | 1,645 |  |  |  | 2,358 |  |  |  | 7,747 |
Total |  |  | 1,645 |  |  |  | 2,358 |  |  |  | 7,789 |
Cash at bank |  |  | 31 January 2021 NZ$000’s |  |  |  | 31 January 2020 NZ$000’s |  |  |  | 31 January 2019 NZ$000’s |
Credit ratings |  |  |  |  |  |  |  |  |  |  |  |
AA- |  |  | 90,887 |  |  |  | 3,747 |  |  |  | 1,915 |
A+ |  |  | - |  |  |  | - |  |  |  | - |
Total |  |  | 90,887 |  |  |  | 3,747 |  |  |  | 1,915 |
Disclosure of Market Risk | Foreign currency denominated financial assets and liabilities, translated into New Zealand Dollars at the closing rate, are as follows:
|  | AUD NZ$000’s |  |  | USD NZ$000’s |  |  | GBP NZ$000’s |  |  | EUR NZ$000’s |  |  | HKD NZ$000’s |  |  | Total NZ$000’s |
31 January 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nominal amounts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade receivables |  |  | - |  |  |  | (2 | ) |  |  | 13 |  |  |  | 90 |  |  |  | - |  |  |  | 101 |
Trade payables |  |  | 20 |  |  |  | 741 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 761 |
Cash and cash equivalents |  |  | 9,943 |  |  |  | 78,506 |  |  |  | 89 |  |  |  | 12 |  |  |  | 2 |  |  |  | 88,552 |
31 January 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nominal amounts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade receivables |  |  | - |  |  |  | 19 |  |  |  | 20 |  |  |  | 441 |  |  |  | - |  |  |  | 480 |
Trade payables |  |  | 12 |  |  |  | 4,068 |  |  |  | 85 |  |  |  | 1 |  |  |  | 2 |  |  |  | 4,168 |
Cash and cash equivalents |  |  | 1,500 |  |  |  | 747 |  |  |  | 85 |  |  |  | 5 |  |  |  | 4 |  |  |  | 2,341 |
31 January 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nominal amounts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade receivables |  |  | 51 |  |  |  | 42 |  |  |  | - |  |  |  | 285 |  |  |  | - |  |  |  | 378 |
Trade payables |  |  | 1 |  |  |  | 9,035 |  |  |  | 8 |  |  |  | 61 |  |  |  | 7 |  |  |  | 9,112 |
Cash and cash equivalents |  |  | 623 |  |  |  | 149 |  |  |  | 38 |  |  |  | 8 |  |  |  | 11 |  |  |  | 829 |
Disclosure of Detailed Information About Hedging Instruments | The following table summarises the notional amount of the Group’s commitments in relation to forward exchange contracts.
|  | Notional Amounts |  |  | Average Exchange Rate |
|  | 31 January 2021 NZ$000’s |  |  | 31 January 2020 NZ$000’s |  |  | 31 January 2019 NZ$000’s |  |  | 31 January 2021 $ |  |  | 31 January 2020 $ |  |  | 31 January 2019 $ |
Buy USD / sell NZD |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Settlement |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less than 6 months |  |  | - |  |  |  | - |  |  |  | 34,395 |  |  |  | - |  |  |  | - |  |  |  | 0.6620 |
|  | NZ$000’s |  |  | NZ$000’s |  |  | NZ$000’s |  |  | $ |  |  | $ |  |  | $ |
Buy AUD / sell NZD |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Settlement |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less than 6 months |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Disclosure of Financial Instruments by Type of Interest Rate |
|  | 31 January 2021 NZ$000’s |  |  | 31 January 2020 NZ$000’s |
Floating rate instruments |  |  |  |  |  |  |  |
Bank overdrafts |  |  | - |  |  |  | - |
Working capital financing bank facility |  |  | - |  |  |  | - |
Convertible notes |  |  | - |  |  |  | - |
Borrowings |  |  | 14,500 |  |  |  | 17,900 |
|  |  | 14,500 |  |  |  | 17,900 |
Currency risk [member] |
Statement Line Items [Line Items] |
Sensitivity Analysis for Types of Market Risk |
|  | NZ$000’s |
|  |  | +10% |  |  |  | -10% |
USD |  |  |  |  |  |  |  |
Net results/Equity (31 January 2021) |  |  | (460 | ) |  |  | 460 |
Net results/Equity (31 January 2020) |  |  | (594 | ) |  |  | 594 |
Net results/Equity (31 January 2019) |  |  | (954 | ) |  |  | 954 |
AUD |  |  |  |  |  |  |  |
Net results/Equity (31 January 2021) |  |  | (2 | ) |  |  | 2 |
Net results/Equity (31 January 2020) |  |  | (1 | ) |  |  | 1 |
Net results/Equity (31 January 2019) |  |  | (5 | ) |  |  | 5 |
GBP |  |  |  |  |  |  |  |
Net results/Equity (31 January 2021) |  |  | (9 | ) |  |  | 9 |
Net results/Equity (31 January 2020) |  |  | (16 | ) |  |  | 16 |
Net results/Equity (31 January 2019) |  |  | (1 | ) |  |  | 1 |
EUR |  |  |  |  |  |  |  |
Net results/Equity (31 January 2021) |  |  | (10 | ) |  |  | 10 |
Net results/Equity (31 January 2020) |  |  | (42 | ) |  |  | 42 |
Net results/Equity (31 January 2019) |  |  | (32 | ) |  |  | 32 |
HKD |  |  |  |  |  |  |  |
Net results/Equity (31 January 2021) |  |  | - |  |  |  | - |
Net results/Equity (31 January 2020) |  |  | - |  |  |  | - |
Net results/Equity (31 January 2019) |  |  | (1 | ) |  |  | 1 |
Interest Rate Risk [Member] |
Statement Line Items [Line Items] |
Sensitivity Analysis for Types of Market Risk |
|  | NZ$000’s |
|  | 1.00% |  |  | -1.00% |
Net results/Equity (31 January 2021) |  |  | 145 |  |  |  | (145 | )
Net results/Equity (31 January 2020) |  |  | 179 |  |  |  | (179 | )

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