ANNUAL Report June 2023 Notes to the Consolidated Financial Statements 50 (b) Liquidity Risk The Company manages liquidity risk by maintaining sufficient cash reserves and marketable securities and through the continuous monitoring of budgeted and actual cash flows. Contracted Maturities for Payables <6 Months 6 - 12 Months 1 - 5 Years >5 Years Total 2023 Trade and other payables 11,309,854 - - - 11,309,854 Lease liabilities 379,509 531,313 1,176,523 - 2,087,345 Financial liabilities 387,283 947,709 9,474,113 2,031,627 12,840,732 Total 12,076,647 1,479,022 10,650,636 2,031,627 26,237,932 2022 Trade and other payables 5,026,531 - - 5,026,531 Lease liabilities 277,397 388,357 1,335,829 2,001,583 Convertible note interest payable 280,000 - - 280,000 Total 5,583,928 388,357 1,335,829 7,308,114 Refer Note 1 for commentary on going concern assumptions. The carrying amounts of trade receivables and trade payables are assumed to approximate their fair values due to their short-term nature. (c) Fair Value of Financial Instruments The following tables detail the consolidated entity’s fair values of financial instruments categorised by the following levels: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (as prices) or indirectly (derived from prices). Level 3: Inputs for the asset or liability that are not based on observable market data (unobservable inputs). Consolidated – 2023 Level 1 Level 2 Level 3 Total Total assets Deferred acquisition costs 221,729 - - 221,729 Capitalised borrowing costs 308,500 - - 308,500 Shares held in listed entities 5,156 - - 5,156 Unexpired Interest - 2,840,732 - 2,840,732 535,385 2,840,732 - 3,376,117 Total liabilities Deferred interest - 316,385 - 316,385 Financial liability - 12,840,732 - 12,840,732 - 13,157,117 - 13,157,117 Consolidated – 2022 Assets Level 1 Level 2 Level 3 Total Shares held in listed entities 5,543 - - 5,543 Total assets 5,543 - - 5,543 Total liabilities - - - - There were no transfers between levels during the financial year. Notes to the Consolidated Financial Statements continued 92 EQ Resources Limited Annual Report 2023
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