Note 5. Income tax 2023 $ 2022 $ (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 (1,880,048) (2,870,279) At the Group’s statutory income tax rate of 30% (2022: 30%) (564,014) (861,084) Expenditure not allowable/(Income not assessable) for income tax purposes (42,484) 371,789 Deferred tax asset not brought to account as realisation is not considered probable 606,499 489,295 Income tax expense – – Statement of Financial Position 2023 $ 2022 $ Deferred tax assets Employee provisions 141,254 134,056 Share issue costs charged to equity 54,431 56,450 Unused income tax losses 5,764,307 5,143,957 Lease liability 10,789 21,745 Deferred tax assets offset by deferred tax liabilities (10,683) (21,356) Total deferred tax assets 5,960,098 5,334,852 Total unrecognised deferred tax assets (5,960,098) (5,334,852) 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 2023 $ 2022 $ Cash on hand and at bank 10,306,546 23,997,222 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% (2022: 0.01% and 0.05%). The carrying amounts of cash and cash equivalents represent fair value. Restricted cash balances totalling $15,225 (2022: $15,225) representing term deposits securing various performance guarantees have been disclosed under other receivables (refer Note 7). Note 7. Other receivables 2023 $ 2022 $ Other debtors 65,622 103,621 Deposits 15,225 15,225 Prepayments 8,685 9,290 89,532 128,136 45 Sunstone Metals Limited Annual Report 2023
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