EQ Resources Limited Annual Report 2021

EQ Resources Limited Annual Report 2021 49 ANNUAL Report June 2021 Notes to the Consolidated Financial Statements 35 6. AUDITOR’S REMUNERATION 2021 $ 2020 $ Audit-related services Amounts paid or payable to Nexia Melbourne Audit Pty Ltd - Audit services 62,000 74,000 Taxation Services Amounts paid or payable to Nexia Melbourne Pty Ltd - Tax compliance services (tax returns) 21,500 46,600 - Other tax advice 10,273 11,180 93,773 131,780 7. TRADE AND OTHER RECEIVABLES 2021 $ 2020 $ Trade receivables 1,213,453 178,697 Less: Allowance - - 1,213,453 178,697 Other taxation 384,889 29,230 Other receivables 329,288 124,285 Total trade & other receivables 1,927,630 332,212 Prepayments 324,619 309,547 Trade Receivables The average credit period on sales of product is 30 days. No interest is charged on outstanding trade receivables. The collectability of trade receivables is assessed continuously, and individual receivables are written off when management deems them unrecoverable. No provision has been made for doubtful debts as all trade receivables were deemed to be recoverable as at reporting date. 8. RECEIVABLES 2021 $ 2020 $ Tenement security deposits 1,075,385 1,083,797 Other security deposits 6,686 2,884 1,082,071 1,086,681 The tenement deposits are restricted so that they are available for any rehabilitation that may be required on the mining leases and/or exploration tenements (refer to Notes 15 and 16). 9. PLANT AND EQUIPMENT AT COST 2021 $ 2020 $ Plant and equipment 3,298,373 2,436,535 Accumulated depreciation (1,609,688) (1,380,777) Plant and equipment – right of use assets 1,291,148 1,201,234 Accumulated depreciation (172,218) (2,051) 2,807,615 2,254,941