Speciality Metals International Limited Annual Report 2020

Speciality Metals International Limited Annual Report 2020 45 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Page | 46 6. AUDITOR’S REMUNERATION 2020 2019 Audit-related services $ $ Amounts paid or payable to Nexia Melbourne Audit Pty Ltd - Audit services 74,000 53,000 Taxation Services Amounts paid or payable to Nexia Melbourne Pty Ltd - Tax compliance services (tax returns) 46,600 6,000 - Other tax advice 11,180 6,488 131,780 65,488 7. TRADE & OTHER RECEIVABLES Trade Receivables 178,697 60,622 Less Allowance - - 178,697 60,622 Other Receivables 153,515 130,000 Total Trade & Other Receivables 332,212 190,622 Prepayments 309,547 75,212 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 within terms as at reporting date. 8. RECEIVABLES – NON-CURRENT Tenement security deposits 1,083,797 769,921 Other security deposits 2,884 100 1,086,681 770,021 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).