51 Annual Report 2022 8 TRADE AND OTHER RECEIVABLES As at 30 June 2022 $ As at 30 June 2021 $ Trade receivables 266,559 375,923 Provision for doubtful debts (207,180) (207,180) 59,379 168,743 R & D Tax Incentive refund 1,302,133 – Other receivables 344,341 50,824 1,705,853 219,567 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 2022 as the Directors remain unsure as to what amount, if any, will eventually be recovered from this debtor. All remaining receivables are current and none are past payment terms. 9 BUILDING IMPROVEMENTS, PLANT AND EQUIPMENT As at 30 June 2022 $ As at 30 June 2021 $ Building improvements – at cost 185,181 185,181 Accumulated depreciation (57,827) (25,580) 127,354 159,601 Office furniture and equipment – at cost 87,883 63,359 Accumulated depreciation (39,512) (16,753) 48,371 46,606 Research equipment – at cost 740,328 424,000 Accumulated depreciation (135,746) (44,863) 604,582 379,137 780,307 585,344 Movement in Carrying Amounts Building Improvements $ Office Equipment $ Research Equipment $ Total $ Balance at the beginning of the year 159,601 46,606 379,137 585,344 Additions - 21,773 264,053 285,826 Depreciation (32,247) (20,622) (61,962) (114,831) Effect of FX translation - 614 23,354 23,968 Balance at the end of the year 127,354 48,371 604,582 780,307
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