54 Impact Minerals Ltd Annual Report 2023 Notes to the Consolidated Financial Statements continued NOTE 14: TRADE AND OTHER PAYABLES Consolidated 2023 $ 2022 $ Trade creditors 324,227 432,436 Other payables and accruals 127,838 76,010 452,065 508,446 These amounts represent liabilities for goods and services provided to the Group prior to the end of the financial year and which are unpaid. Trade creditors are unsecured, non-interest bearing and are normally settled on 30-day terms. The Group’s financial risk management objectives and policies are set out in Note 25. Due to the short-term nature of these payables, their carrying value is assumed to approximate their fair value. NOTE 15: PROVISIONS Consolidated 2023 $ 2022 $ Short-term Employee entitlements 151,973 135,306 151,973 135,306 NOTE 16: LEASE LIABILITIES Consolidated 2023 $ 2022 $ Current Lease liabilities 48,102 – 48,102 – Non-current Lease liabilities 401,502 – 401,502 – Total lease liabilities 449,604 – Payments due under the lease are: Consolidated 2023 $ 2022 $ Due within 1 year 48,102 – Due within 1-2 years 78,377 – > 2 years 323,125 – Total payments 449,604 – During the year the Company entered into a lease for its registered offices.
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