Notes to the Consolidated Financial Statements for the year ended 30 June 2024 13. Exploration and evaluation assets (continued) The Group’s exploration and evaluation assets is as follows: 2024 $’000 2023 $’000 Non-current assets Exploration and evaluation assets – at cost 1,508 – Expenditure incurred 2,260 1,533 Foreign exchange movement 6 (25) 3,774 1,508 14. Trade and other payables Trade and other payables represent unsecured liabilities for goods and services provided to the Group. These amounts have 30 to 60-day payment terms. The Group’s trade and other payables are as follows: 2024 $’000 2023 $’000 Current liabilities Trade payables 249 135 Other payables 55 48 304 183 15. Provisions Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the reporting date. Liabilities accruing to employees expected to be settled within 12 months of the balance date are recognised as current liabilities in respect of employees’ services up to the balance date. The Group’s provisions are as follows: 2024 $’000 2023 $’000 Current liabilities Provision for employee benefits 143 119 143 119 64 Annual Report 2024 Sheffield Resources Limited
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