179 Annual Report 2024 29 FINANCIAL RISK MANAGEMENT (continued) Hedge accounting (continued) The following table provides a reconciliation by risk category of components of Unitholders’ Funds resulting from cash flow hedge accounting. Group Trust Hedging reserve $’000 $’000 Cash flow hedges Balance at 1 January 2024 (23,296) (11,530) Changes in fair value: Foreign currency risk – Cross currency swaps 38,161 – Interest rate risk 8,924 6,944 47,085 6,944 Amounts reclassified to Statement of Total Return: Foreign currency risk (21,594) – Interest rate risk (23,254) (15,978) (44,848) (15,978) Share of net fair value changes on cash flow hedges of joint ventures 907 – Balance at 31 December 2024 (20,152) (20,564) Balance at 1 January 2023 16,223 26,761 Changes in fair value: Foreign currency risk – Cross currency swaps (29,789) – – Forward exchange contracts (209) – Interest rate risk (19,953) (17,391) (49,951) (17,391) Amounts reclassified to Statement of Total Return: Foreign currency risk 40,943 – Interest rate risk (30,511) (20,900) 10,432 (20,900) Balance at 31 December 2023 (23,296) (11,530)
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