8 TRADE AND OTHER RECEIVABLES As at 30 June 2023 $ As at 30 June 2022 $ Trade receivables 279,723 266,559 Allowance for expected credit losses (207,180) (207,180) 72,543 59,379 R&D Tax Incentive refund 949,502 1,302,133 Other receivables 170,962 344,341 1,193,007 1,705,853 Credit Risk During the financial year ended 30 June 2017 Sienna Cancer Diagnostics Ltd, a wholly owned subsidiary of INOVIQ Ltd, recognised an allowance for doubtful debts following the announcement that Bostwick Laboratories Inc., a debtor, had entered Chapter 11 bankruptcy protection. As a result, the full amount owed by the debtor, US$155,378, was recognised as a doubtful debt. This provision for doubtful debts remains in place at 30 June 2023 as the Directors remain unsure as to what amount, if any, will eventually be recovered from this debtor. All remaining receivables are current and not considered at risk of non-collection. 9 BUILDING IMPROVEMENTS, PLANT AND EQUIPMENT As at 30 June 2023 $ As at 30 June 2022 $ Building improvements – at cost 191,247 185,181 Accumulated depreciation (90,981) (57,827) 100,266 127,354 Office furniture and equipment – at cost 116,160 87,883 Accumulated depreciation (45,475) (39,512) 70,685 48,371 Research equipment – at cost 869,064 740,328 Accumulated depreciation (178,170) (135,746) 690,894 604,582 861,845 780,307 Movement in Carrying Amounts Building Improvements $ Office Equipment $ Research Equipment $ Total $ Balance at the beginning of the year 127,354 48,371 604,582 780,307 Additions 6,066 49,690 195,121 250,877 Disposals at cost – (21,834) (87,190) (109,024) Depreciation (33,154) (26,982) (93,635) (153,771) Disposals (Depreciation) – 21,221 55,500 76,721 Effect of FX translation – 219 16,516 16,735 Balance at the end of the year 100,266 70,685 690,894 861,845 53 Annual Report 2023
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