Note 7. Other receivables (continued) Other debtors consist of invoices for recovery of costs as per contract terms, GST and VAT receivables from the taxation authorities and other minor amounts. All receivables are carried at amortised cost which approximates their fair value. No allowance has been made for impairment of any other receivables as it is highly probable that they will be recovered. All other receivables excluding deposits are non-interest bearing and balances are current. Note 8. Financial assets at fair value through profit or loss 2022 $ 2021 $ Current Shares in Copperstone Resources AB 1,437,516 – Shares in NewPeak Metals Ltd 81,690 – Shares in United Lithium Corp 186,092 – 1,705,298 – Reconciliation of the written down values at the beginning and end of the financial year: 2022 $ 2021 $ Opening fair value – Reclassification - Financial assets at fair value through profit or loss 6,916,488 – Additions 486,858 – Copperstone Shares sold during the financial year (4,606,607) – Fair value increments/(decrements) (1,091,441) – Closing fair value 1,705,298 – 2022 $ 2021 $ Non-current Shares in Copperstone Resources AB – 11,619,638 Shares in NewPeak Metals Ltd – 163,381 – 11,783,019 Reconciliation of the written down values at the beginning and end of the financial year: 2022 $ 2021 $ Opening fair value 11,783,019 5,036,204 Additions – 250,000 Shares sold during the financial year (5,598,594) (11,949,130) Cash received – (4,131,223) Fair value increments/(decrements) 732,063 5,250,640 Reclassification - Financial assets at fair value through profit or loss (6,916,488) 17,326,528 Closing fair value – 11,783,019 From 1 January 2022 Sunstone changed from classifying the shares held in Copperstone and NewPeak From 1 January 2022 Sunstone changed from classifying the shares held in Copperstone and NewPeak Metals Ltd as non-current to current financial assets at fair value through profit or loss, as the intention was no longer to hold these long term, subject to favourable market conditions. Shares held in listed companies are recognised at the market value on the reporting date of $1,705,298 (2021: $11,783,019) under level 1 of the fair value hierarchy referred to in AASB 13 Fair Value measurement. Notes to the Financial Statements for the year ended 30 June 2022 44 Sunstone Metals Limited Annual Report 2022 SUNSTONE METALS LIMITED ANNUAL REPORT 2022
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