Notes to the Consolidated Financial Statements for the year ended 30 June 2023 8. Investment in joint venture (continued) Consolidated audited statement of financial position of KMS as at 30 June 2022 and 2023 is as follows: Note Joint venture (100%) 2023 $’000 (Audited) Joint venture (100%) 2022 $’000 (Audited) Current assets Cash and cash equivalents 95,211 53,197 Trade and other receivables 1,565 1,536 Prepayments 1,234 344 Inventories 186 194 Total current assets 98,196 55,271 Non-current assets Other financial assets 1,074 511 Prepayments 8 (c) 117,288 – Plant and equipment 8 (a) 22,849 10,572 Right of use asset 8 (a) 1,739 2,099 Mine assets under development 8 (a) 383,629 160,960 Exploration and evaluation assets 7,314 5,351 Total non-current assets 533,893 179,493 Total assets 632,089 234,764 Current liabilities Trade and other payables 19,727 21,778 Lease liabilities 293 360 Provisions 3,402 1,220 Total current liabilities 23,422 23,358 Non-current liabilities Lease liabilities 1,751 2,000 Borrowings 8 (b) 229,818 – Other financial liabilities 8 (c) 112,696 – Provisions 16,966 4,120 Deferred tax liabilities 3,147 7,802 Total non-current liabilities 364,378 13,922 Total liabilities 387,800 37,280 Net assets 244,289 197,484 Equity Issued capital 187,660 130,118 Reserves 88,713 88,713 Accumulated losses (32,084) (21,347) Total equity 244,289 197,484 44 Sheffield Resources Limited Annual Report 2023
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