Note 5. Other income 30-June-26 $ 30-June-25 $ Accounting and company secretarial services 17,731 – Disposal of out of specification material – 63,597 Other income 17,731 63,597 Other income is recognised when it is received or when the right to receive payment is established. Note 6. Impairment loss Block 9 30-June-26 $ 30-June-25 $ Impairment loss on surface equipment and facilities (1,462,484) – Impairment loss on motor vehicles and trucks (188,657) – Impairment loss on prepayment (59,206) – Write-back of contract liability on account of project closure 15,835,242 – Impairment loss on exploration and development asset Block 9 (49,864,451) – Impairment loss Block 9 (35,739,556) – Note 7. Finance costs 30-June-26 $ 30-June-25 $ Bank’s fees 60,107 143,102 Finance Costs 60,107 143,102 Note 8. Income tax expense 30-June-26 $ 30-June-25 $ Numerical reconciliation of income tax expense and tax at statutory rate Loss before income tax expense (50,220,823) (4,151,446) Tax at the statutory tax rate of 25% (12,555,206) (1,037,861) Tax effect amounts which are not deductible/(taxable) in calculating taxable income: Non-assessable non-exempt income – – Other non-deductible expenditure – – (12,555,206) (1,037,861) Tax losses not brought to account – – Utilisation of prior year tax losses not brought to account 12,555,206 1,037,861 Interest tax expense – – Tax losses not recognised – – Unused tax losses for which no deferred tax asset has been recognised 197,553,614 184,998,408 Potential tax benefit @ 25% 49,388,404 46,249,602 The above potential tax benefit for tax losses has not been recognised in the statement of financial position. These tax losses can only be utilised in the future if the continuity of ownership test is passed, or failing that, the same business test is passed. Notes to the Consolidated Financial Statements for the year ended 30 June 2026 62 Melbana Energy Limited Annual Report 2026
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