61 2022 ANNUAL REPORT Notes to the CONSOLIDATED FINANCIAL STATEMENTS for the year ended 30 June 2022 (cont.) 6 INCOME TAX (cont.) Net balance at 1 July 2020 Recognised in other comprehensive income Recognised in profit or loss Net balance at 30 June 2021 $’000 $’000 $’000 $’000 Property, plant and equipment and intangible assets (8,534) - (13,929) (22,463) Exploration and evaluation assets (8,009) - (1,552) (9,561) Provisions and employee benefits 12,813 - 5,958 18,771 Derivative financial instruments 10,012 (8,588) (1,424) - Leases (135) - 1,719 1,584 Other items (2,089) - 1,811 (278) Tax losses recognised - - 10,414 10,414 4,058 (8,588) 2,997 (1,533) (a) Red 5 Limited resolved to form a tax consolidated group incorporating all its Australian subsidiaries, with an effective date of 1 November 2017. In accordance with the tax consolidation legislation, the head entity of the Australian tax consolidated group, will assume the deferred tax assets and liabilities initially recognised by wholly owned members of the tax consolidated group. 7 CASH AND CASH EQUIVALENTS CONSOLIDATED 30 June 2022 30 June 2021 $’000 $’000 Cash at bank (a) 32,525 18,159 Cash on deposit - 30 Cash on hand 1 - 32,526 18,189 Cash held within assets held for sale - (774) 32,526 17,415 (a) Cash at bank includes $13.0 million funds for the construction of the tailings storage facility at King of the Hills which the financiers require to be set aside for this purpose. 8 TRADE AND OTHER RECEIVABLES CONSOLIDATED 30 June 2022 30 June 2021 $’000 $’000 Current assets Trade debtors (a) 8,158 3,538 Restricted cash (b) 7,500 - GST receivable 2,138 1,612 Prepayments 988 4,690 Sundry debtors 240 20 Interest receivable 1 1 19,025 9,861 Non-current assets Security deposits 8,177 8,306 Restricted cash (b) - 20,500 VAT receivable 3 4 8,180 28,810 (a) Trade debtors includes amounts receivable for 2,794 ounces sold on 30 June 2022, equivalent to $7.362 million (30 June 2021: 1,313 ounces equivalent to $3.068 million). (b) Restricted cash is made up of $7.5 million of funds in a debt service reserve account which has been transferred to current assets in FY22. The prior year balance included $13.0 million held to fund the construction of the tailings storage facility at King of the Hills. This was transferred to Cash and Cash Equivalents in FY22 when construction began.
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