Notes to the Consolidated Financial Statements continued ANNUAL Report June 2022 Notes to the Consolidated Financial Statements 33 6. AUDITOR’S REMUNERATION 2022 $ 2021 $ Audit-related services Amounts paid or payable to Nexia Melbourne Audit Pty Ltd - Audit services 65,100 62,000 Taxation Services Amounts paid or payable to Nexia Melbourne Pty Ltd - Tax compliance services (tax returns) 13,000 21,500 - Other tax advice - 10,273 78,100 93,773 7. TRADE AND OTHER RECEIVABLES 2022 $ 2021 $ Trade receivables 1,645,546 1,213,453 Less: Allowance - - 1,645,546 1,213,453 Other taxation 484,950 384,889 Other receivables 193,103 329,288 Total trade & other receivables 2,323,599 1,927,630 Prepayments 632,292 324,619 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 2022 $ 2021 $ Tenement security deposits 1,075,130 1,075,385 Other security deposits 6,162 6,686 1,081,292 1,082,071 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 16 and 17). 9. PLANT AND EQUIPMENT AT COST 2022 $ 2021 $ Plant and equipment 6,975,823 3,298,373 Accumulated depreciation (1,979,791) (1,609,688) Plant and equipment – right of use assets 2,676,371 1,291,148 Accumulated depreciation (656,408) (172,218) 7,015,995 2,807,615 64 EQ Resources Limited Annual Report 2022
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