Note 20. Financial instruments (continued) Remaining contractual maturities The following tables detail the Consolidated Entity’s remaining contractual maturity for its financial instrument liabilities. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the financial liabilities are required to be paid. The tables include both interest and principal cash flows disclosed as remaining contractual maturities and therefore these totals may differ from their carrying amount in the statement of financial position. NON-DERIVATIVE FINANCIAL LIABILITIES Average interest rate % 1 year or less $ Between 1 and 2 years $ Between 2 and 5 years $ Over 5 years $ Remaining contractual maturities $ 30-Jun-24 Trade/other payables 19,136,475 – – – 19,136,475 Total 19,136,475 – – – 19,136,475 Average interest rate % 1 year or less $ Between 1 and 2 years $ Between 2 and 5 years $ Over 5 years $ Remaining contractual maturities $ 30-Jun-23 Lease Liabilities 130,824 – – – 130,824 Trade/other payables 4,499,717 – – – 4,499,717 Total 4,630,541 – – – 4,630,541 The cash flows in the maturity analysis above are not expected to occur significantly earlier than contractually disclosed above. Fair value of financial instruments Unless otherwise stated, the carrying amounts of financial instruments reflect their fair value. The carrying amounts of trade receivables and trade payables are assumed to approximate their fair values due to their short-term nature. Where appropriate, the fair value of financial liabilities is estimated by discounting the remaining contractual maturities at the current market interest rate that is available for similar financial instruments. Note 21. Key management personnel disclosures Compensation The aggregate compensation made to Directors and other members of key management personnel of the Consolidated Entity is set out below: 30-June-24 $ 30-June-23 $ Short-term employee benefits 1,884,739 1,335,671 Post-employment benefits 120,534 98,744 2,005,273 1,434,415 A percentage of the fixed remuneration of the Key Management personnel is allocated to the exploration assets based on the percentage of time written to each exploration project by each individual. During the financial year the directors have reviewed the composition of Key Management Personnel (KMP) in view of the changing business against the definition of KMP. They determined that based on their responsibilities Errol Johnstone and Dean Johnstone previously disclosed as KMP do not fall within that definition. 61 Melbana Energy Limited Annual Report 2024
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