8 TRADE AND OTHER RECEIVABLES For the year ended 30 June 2024 $ For the year ended 30 June 2023 $ Trade receivables 26,564 279,723 Allowance for expected credit losses – (207,180) 26,564 72,543 R&D Tax Incentive refund 1,017,344 949,502 Other receivables 230,189 170,962 1,274,097 1,193,007 CREDIT RISK During the current financial year the historical provision for doubtful debts first recognised in the year ended 30 June 2017 in relation to a debtor, Bostwick Laboratories Inc., that had entered Chapter 11 bankruptcy protection was written off, as no amount was recovered. All remaining receivables are current and not considered at risk of non-collection. 9 BUILDING IMPROVEMENTS, PLANT AND EQUIPMENT As at 30 June 2024 $ As at 30 June 2023 $ Building improvements – at cost 191,247 191,247 Accumulated depreciation (124,530) (90,981) 66,717 100,266 Office furniture and equipment – at cost 131,116 116,160 Accumulated depreciation (73,453) (45,475) 57,663 70,685 Research equipment – at cost 1,013,392 869,064 Accumulated depreciation (307,874) (178,170) 705,518 690,894 829,898 861,845 MOVEMENT IN CARRYING AMOUNTS Building Improvements $ Office Equipment $ Research Equipment $ Total $ Balance at the beginning of the year 100,266 70,685 690,894 861,845 Additions – 14,964 144,750 159,714 Depreciation (33,548) (27,986) (130,741) (192,275) Effect of FX translation – – 614 614 Balance at the end of the year 66,717 57,663 705,518 829,898 Notes to the Financial Statements continued for the year ended 30 June 2024 48 INOVIQ Limited
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