Speciality Metals International Limited Annual Report 2019

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Page | 53 25. PARENT ENTITY INFORMATION The following information relates to the parent entity, Speciality Metals International Limited. The information presented has been prepared using accounting policies that are consistent with those presented in Note 1. 2019 2018 ASSETS $ $ Current assets 483,779 1,491,512 Non-current assets 15,488,890 1,383,842 TOTAL ASSETS 15,972,669 2,875,354 LIABILITIES Current liabilities 4,839,339 196,858 Non-current liabilities 6,060 6,060 TOTAL LIABILITIES 4,845,399 202,918 NET ASSETS 11,127,270 2,672,436 EQUITY Issued capital 7,651,079 3,553,567 Reserves 330,000 437,615 Accumulated losses 3,146,191 (1,318,746) TOTAL EQUITY 11,127,270 2,672,436 FINANCIAL PERFORMANCE Profit (loss) for the year 4,031,923 (1,478,746) Other comprehensive income/(loss) for the year - - Total comprehensive profit/(loss) 4,031,923 (1,478,746) Contingent Liabilities As at 30 June 2019 and 30 June 2018 the Company had no contingent liabilities. Contractual Commitments As at 30 June 2019 and 30 June 2018 the Company had no contractual commitments other than those disclosed in Note 14. Guarantees Entered into by Parent Entity As at 30 June 2019, the Company has not provided any financial guarantees.