Note 5. Income tax 2022 $ 2021 $ (a) N umerical reconciliation between aggregate tax expense recognised in the statement of comprehensive income and tax expense calculated per the statutory income tax rate Accounting profit/(loss) before income tax (2,870,279) 3,224,218 At the Group’s statutory income tax rate of 30% (2021: 30%) (861,084) 967,265 Expenditure not allowable for income tax purposes 371,789 (1,383,519) Deferred tax asset not brought to account as realisation is not considered probable 489,295 416,254 Income tax expense – – Statement of Financial Position 2022 $ 2021 $ Deferred tax assets Employee provisions 134,056 110,619 Other accruals and provisions – 25,789 Share issue costs charged to equity 56,450 13,878 Unused income tax losses 5,143,957 4,646,133 Lease liability 21,745 32,515 Deferred tax assets offset by deferred tax liabilities (21,356) (1,993,439) Total deferred tax assets 5,334,852 2,835,495 Total unrecognised deferred tax assets (5,334,852) (2,835,495) Net deferred tax assets – – The Group has not recognised the deferred tax assets in the financial statements as it is not considered probable that sufficient taxable amounts will be available in future periods with which to be offset. Note 6. Cash and cash equivalents 2022 $ 2021 $ Cash on hand and at bank 23,997,222 12,171,240 Cash at bank earns interest at floating rates based on daily bank deposit rates. The cash at bank is bearing floating interest rates between 0.01% and 0.81% (2021: 0.01% and 0.05%). The carrying amounts of cash and cash equivalents represent fair value. Restricted cash balances totalling $15,225 (2021: $15,225) representing term deposits securing various performance guarantees have been disclosed under other receivables (refer Note 7). Note 7. Other receivables 2022 $ 2021 $ Other debtors 103,621 17,184 Deposits 15,225 15,225 Prepayments 9,290 6,449 128,136 38,858 43 Sunstone Metals Limited Annual Report 2022 SUNSTONE METALS LIMITED ANNUAL REPORT 2022
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