Cue Energy Resources Limited Notes to the financial statements 30 June 2024 Note 9. Current assets - trade and other receivables (continued) 44 Allowance for expected credit losses The Group applies the AASB 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables. To measure the expected credit losses, trade receivables have been grouped based on shared credit risk characteristics and the days past due. The consolidated entity has not recognised any losses in profit or loss in respect of the expected credit losses for the year ended 30 June 2024 (30 June 2023: Nil). The ageing of trade and other receivables at the reporting date was as follows: Consolidated 30 June 2024 30 June 2023 $'000 $'000 Not overdue 6,192 5,432 Less than one month 1,742 5,148 More than 1 month overdue, not impaired - 51 7,934 10,631 Trade and other receivables are not considered impaired and relate to a number of independent customers for whom there is no recent history of default. Note 10. Non-current assets - production properties Consolidated 30 June 2024 30 June 2023 $'000 $'000 Net accumulated cost incurred on areas of interest Joint operation production assets Sampang 2,239 2,794 Maari 13,876 15,590 Mahato 15,024 10,910 Palm Valley 5,952 6,523 Mereenie 18,070 18,564 Dingo 7,856 7,908 Balance as at 30 June 63,017 62,289 Reconciliations A reconciliation of the written down values at the beginning and end of the current and previous financial year are set out below: Consolidated 30 June 2024 30 June 2023 Production properties $'000 $'000 Balance at 1 July 62,289 54,117 Additions during the year 7,305 7,662 Changes in restoration provision – production (note 11) (550) 2,919 Amortisation expense (6,212) (6,032) Contract liabilities reversed 161 (348) Transfers - 3,055 Changes in foreign currency translation 24 916 Closing balance 30 June 63,017 62,289 58 Cue Energy Resources Limited Annual Report 2024
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