26 PARENT ENTITY Information relating to INOVIQ Limited For the year ended 30 June 2023 $ For the year ended 30 June 2022 $ Current assets 8,825,891 16,806,333 Non-current assets 37,047,702 39,828,867 Total assets 45,873,593 56,635,200 Current liabilities 673,757 487,629 Non-current liabilities 58,712 38,121 Total liabilities 732,469 525,750 Issued capital 131,152,944 131,152,944 Accumulated losses (87,691,436) (76,501,665) Share based payment reserve 1,679,616 1,458,171 Total shareholders’ equity 45,141,124 56,109,450 Loss of the parent entity (11,253,437) (2,926,557) Total comprehensive loss of the parent entity (11,253,437) (2,926,557) Refer to Note 28 for disclosure of any contingent asset and liabilities of the parent entity. 27 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (a) Financial Risk Management Objectives & Policies The Group’s principal financial instruments comprise cash and equity instruments. The main purpose of these financial instruments is to raise finance for the Group’s operations. The Group has various other financial assets and liabilities such as receivables and payables, which arise directly from its operations. The main risks arising from the Group’s financial instruments are interest rate risk, credit risk, equity price risk, foreign currency risk and liquidity risk. The Group uses different methods to measure and manage different types of risks to which it is exposed. These include monitoring levels of exposure to interest rate, foreign exchange risk and assessments of market forecasts for interest rate, foreign exchange, and commodity prices. Ageing analysis and monitoring of receivables are undertaken to manage credit risk. Liquidity risk is monitored through the development of future rolling cash flow forecasts. The Chairman is responsible for managing the risks associated with the Group’s financial investments and reporting to the board of directors. The board reviews and agrees policies for managing each of these risks as summarised below: Details of the significant accounting policies and methods adopted, including the criteria for recognition, the basis of measurement and the basis on which income and expenses are recognised, in respect of each class of financial asset, financial liability and equity instrument are disclosed in Note 2 to the financial statements. Notes to the Financial Statements for the year ended 30 June 2023 64 INOVIQ Limited
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