Speciality Metals International Limited Annual Report 2020

34 Speciality Metals International Limited Annual Report 2020 Consolidated Statement of Financial Position Page | 35 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2020 2020 2019 Note $ $ CURRENT ASSETS Cash assets 21(b) 2,989,859 217,962 Trade and other receivables 7 332,212 190,622 Prepayments 7 309,547 75,212 Inventory 4 108,000 - TOTAL CURRENT ASSETS 3,739,618 483,796 NON-CURRENT ASSETS Receivables 8 1,086,681 770,021 Plant and equipment 9,17 2,254,941 331,674 Inventory 4,17 7,437,413 7,545,413 Deferred exploration and evaluation expenditure 10 6,896,994 6,834,416 Financial assets 5 2,113 1,289 TOTAL NON-CURRENT ASSETS 17,678,142 15,482,813 TOTAL ASSETS 21,417,760 15,966,609 CURRENT LIABILITIES Payables 11, 25 736,610 780,155 Employee benefits 27 105,090 26,473 Lease liability 23, 25 200,715 - Short term borrowings 11 - 200,000 Contract liability - sublease 22 125,818 - TOTAL CURRENT LIABILITIES 1,168,233 1,006,628 NON-CURRENT LIABILITIES Employee benefits 27 12,884 8,890 Lease liability 23, 25 968,094 - Contract liability - sublease 22 1,784,638 1,911,911 Contract liability - offtake 22 2,547,615 2,134,140 TOTAL NON-CURRENT LIABILITIES 5,313,231 4,054,941 TOTAL LIABILITIES 6,481,464 5,061,569 NET ASSETS 14,936,296 10,905,040 EQUITY Issued capital 12 15,023,117 7,651,079 Reserves - 330,000 Accumulated profit / (loss) (86,821) 2,923,961 TOTAL EQUITY 14,936,296 10,905,040 , As at 30 June 2020