87 Westgold Resources Limited Annual Report 2022 24. INTEREST-BEARING LOANS AND BORROWINGS (non-current) (CONTINUED) Non-current (continued) Interest bearing liabilities Minimum payments Present value of payments 2021 Within one year 17,938,002 17,492,098 After one year but not more than five years 20,934,589 20,245,206 Total minimum payments 38,872,591 37,737,304 Less amounts representing finance charges (1,135,287) – Present value of minimum payments 37,737,304 37,737,304 Lease liabilities AASB 16 Leases requires the recognition of right-of-use assets for the remaining term of the current leases for office premises and the warehouse facility, as well as the power stations and equipment at the various mine sites. Lease liabilities Minimum lease payments Present value of lease payments 2022 Within one year 6,573,483 6,004,390 After one year but not more than five years 5,879,451 4,904,963 Total minimum lease payments 12,452,934 10,909,353 Less amounts representing finance charges (1,543,581) - Present value of minimum lease payments 10,909,353 10,909,353 Lease liabilities Minimum lease payments Present value of lease payments 2021 Within one year 5,624,272 5,469,969 After one year but not more than five years 1,941,010 1,868,565 Total minimum lease payments 7,565,282 7,338,534 Less amounts representing finance charges (226,748) - Present value of minimum lease payments 7,338,534 7,338,534 25. UNEARNED INCOME 2022 2021 Provisional gold sales – – – – Movement in provisional gold sales At 1 July – 198,841 Provisional gold sales at 30 June – (198,841) At 30 June – – This represents gold sold on provisional outturns on 30 June 2021.
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