ANNUAL Report June 2024 Notes to the Consolidated Financial Statements 47 Right-of-use assets 2024 $ 2023 $ Balance at 1 July 2023 2,376,049 2,019,963 Additions: - Plant & equipment 1,751,191 180,005 - Heavy & light vehicles 466,010 930,146 Disposals (42,935) (115,768) Amortisation charge for the year (1,100,019) (638,297) Balance at 30 June 2024 3,450,296 2,376,049 Lease Liability - Maturity Analysis Less than 1 year 1,324,113 910,822 1 to 5 years 1,823,620 1,176,523 5+ years - - 3,147,733 2,087,345 Amounts Recognised in profit or loss Interest on lease liabilities 153,110 115,168 Expenses relating to short-term leases - - 153,110 115,168 Amounts recognised in the statement of cash flows 150,111 55,834 Total cash outflow for leases 937,693 345,492 27. CORPORATE INFORMATION The Financial Report of the Group for the year ended 30 June 2024 was authorised for issue in accordance with a resolution of the Directors on 30 September 2024. EQ Resources Limited is a company limited by shares and incorporated in Australia. Its shares are publicly traded on the Australian Securities Exchange under the ticker code “EQR”. 28. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES The financial risks arising from the Group’s operations comprise market, liquidity and credit risk. These risks arise in the ordinary course of business, and the Group manages its exposure to them in accordance with the Group’s risk management strategy. The objective of the strategy is to support the delivery of the Group’s financial targets while protecting its future financial security. The Company’s principal financial instruments comprise cash, short term deposits and available for sale investments. (a) Price Risk The Group is not exposed to equity securities price risk. (b) Liquidity Risk The Group’s liquidity risk arises from the possibility that it may be unable to settle or meet its obligations as they fall due. It is managed by maintaining sufficient cash reserves and marketable securities and by continuously monitoring budgeted and actual cash flows. The maturity profile of the Group’s financial liabilities based on the undiscounted contractual amounts is as follows: EQ Resources Limited Annual Report 2024 113
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