Speciality Metals International Limited Annual Report 2020

60 Speciality Metals International Limited Annual Report 2020 Notes to the Consolidated Financial Statements continued NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Page | 61 29. 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. 2020 2019 ASSETS $ $ Current assets 5,029,560 483,779 Non-current assets 15,604,705 15,488,890 TOTAL ASSETS 20,634,265 15,972,669 LIABILITIES Current liabilities 293,801 4,839,339 Non-current liabilities 3,823,821 6,060 TOTAL LIABILITIES 4,117,622 4,845,399 NET ASSETS 16,516,643 11,127,270 EQUITY Issued capital 15,023,117 7,651,079 Reserves - 330,000 Accumulated losses 1,493,526 3,146,191 TOTAL EQUITY 16,516,643 11,127,270 FINANCIAL PERFORMANCE Profit (loss) for the year (1,653,438) 4,031,923 Other comprehensive income/(loss) for the year 773 - Total comprehensive profit/(loss) (1,652,665) 4,031,923 Contingent Liabilities As at 30 June 2020 and 30 June 2019 the Company had no contingent liabilities. Contractual Commitments As at 30 June 2020 and 30 June 2019 the Company had no contractual commitments other than those disclosed in Note 16. Guarantees Entered into by Parent Entity As at 30 June 2020, the Company has not provided any financial guarantees.