Staff numbers and costs (Tables)
|
12 Months Ended |
Jun. 30, 2023 |
|---|
| Staff Numbers And Costs |
|
| Schedule of average number of employee |
The
average number of employees (including directors) during the period was:
Schedule of average number of employee
| | |
2023 | | |
2022 | | |
2021 | |
| | |
Year
Ended June 30 | |
| | |
2023 | | |
2022 | | |
2021 | |
| Sales and Business Development | |
| 11 | | |
| 13 | | |
| 13 | |
| Central Services and Management | |
| 18 | | |
| 29 | | |
| 35 | |
| Production | |
| 64 | | |
| 212 | | |
| 164 | |
| Total | |
| 93 | | |
| 254 | | |
| 212 | |
|
| Schedule of aggregate remuneration costs |
Their
aggregate remuneration costs comprised:
Schedule of aggregate remuneration costs
| (US dollars in thousands) | |
2023 | | |
2022 (restated) | | |
2021 | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022 (restated) | | |
2021 | |
| Salaries, wages and incentives | |
| 5,465 | | |
| 15,372 | | |
| 14,550 | |
| Social security costs | |
| 430 | | |
| 730 | | |
| 795 | |
| Pension contributions | |
| 369 | | |
| 844 | | |
| 850 | |
| Short-term compensated absences | |
| 366 | | |
| 1,277 | | |
| 1,200 | |
| Total | |
| 6,630 | | |
| 18,223 | | |
| 17,395 | |
|
| Schedule of key management personnel expenses |
Key
Management Personnel:
Schedule of key management personnel expenses
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| Salaries, wages and incentives | |
| 1,120 | | |
| 1,578 | | |
| 1,949 | |
| Social security costs | |
| 38 | | |
| 151 | | |
| 101 | |
| Pension contributions | |
| 60 | | |
| 114 | | |
| 64 | |
| Equity incentives | |
| - | | |
| 392 | | |
| 244 | |
| Short-term compensated absences | |
| - | | |
| - | | |
| 2 | |
| Total | |
| 1,218 | | |
| 2,235 | | |
| 2,361 | |
|
| Schedule of income tax expenses |
Schedule of income tax expenses
| (US dollars in thousands) | |
Continuing | | |
Discontinued | | |
Total | | |
Continuing | | |
Discontinued | | |
Total | | |
Continuing | | |
Discontinued | | |
Total | |
| | |
Year
Ended June 30 | |
| | |
2023 | | |
2022 | | |
2021 | |
| (US dollars in thousands) | |
Continuing | | |
Discontinued | | |
Total | | |
Continuing | | |
Discontinued | | |
Total | | |
Continuing | | |
Discontinued | | |
Total | |
| Current tax | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| UK corporation tax | |
| - | | |
| - | | |
| - | | |
| (52 | ) | |
| - | | |
| (52 | ) | |
| - | | |
| - | | |
| - | |
| Foreign tax | |
| (924 | ) | |
| - | | |
| (924 | ) | |
| 818 | | |
| - | | |
| 818 | | |
| (825 | ) | |
| (24 | ) | |
| (849 | ) |
| Total current tax | |
| (924 | ) | |
| - | | |
| (924 | ) | |
| 766 | | |
| - | | |
| 766 | | |
| (825 | ) | |
| (24 | ) | |
| (849 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Deferred tax | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Current year | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| UK tax | |
| - | | |
| - | | |
| - | | |
| (96 | ) | |
| - | | |
| (96 | ) | |
| (51 | ) | |
| - | | |
| (51 | ) |
| Foreign tax | |
| 382 | | |
| - | | |
| 382 | | |
| 1,297 | | |
| 149 | | |
| 1,446 | | |
| 1,014 | | |
| - | | |
| 1,014 | |
| Total deferred tax | |
| 382 | | |
| - | | |
| 382 | | |
| 1,201 | | |
| 149 | | |
| 1,350 | | |
| 963 | | |
| - | | |
| 963 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Total income tax | |
| (541 | ) | |
| - | | |
| (541 | ) | |
| 1,968 | | |
| 149 | | |
| 2,117 | | |
| 138 | | |
| (24 | ) | |
| 114 | |
|
| Schedule of reconciliation of accounting profit multiplied by applicable tax rates |
The
difference between the total tax charge and the amount calculated by applying the weighted average corporation tax rates applicable to
each of the tax jurisdictions in which the Group operates to the profit before tax is shown below.
Schedule of reconciliation of accounting profit multiplied by applicable
tax rates
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| Loss before income tax before continuing operations | |
| (17,604 | ) | |
| (23,397 | ) | |
| (8,165 | ) |
| Group weighted average corporation tax rate | |
| 29.1 | % | |
| 26.6 | % | |
| 22.2 | % |
| Tax at standard rate | |
| 5,118 | | |
| 6,224 | | |
| 1,813 | |
| Effects of: | |
| | | |
| | | |
| | |
| Expenses that are not deductible for tax purposes | |
| | | |
| | | |
| (833 | ) |
| Adjustment to prior year tax provisions | |
| | | |
| | | |
| 137 | |
| Deferred tax assets not recognized on tax losses | |
| (5,660 | ) | |
| (4,256 | ) | |
| (979 | ) |
| Total income tax from continuing operation for the period recognized in the | |
| | | |
| | | |
| | |
| Consolidated Statement of Comprehensive Income | |
| (541 | ) | |
| 1,968 | | |
| 138 | |
|
| Schedule of deferred tax |
Schedule of deferred tax
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| Deferred tax assets | |
| 5,136 | | |
| 4,668 | | |
| 2,495 | |
| Deferred tax liabilities | |
| (2,232 | ) | |
| (1,234 | ) | |
| (411 | ) |
| Net deferred tax asset | |
| 2,904 | | |
| 3,434 | | |
| 2,084 | |
|
| Schedule of deferred tax assets and liabilities |
The
deferred tax assets are analyzed as follows:
Schedule of deferred tax assets and liabilities
| Deferred tax assets | |
Tax losses | | |
Other
timing differences | | |
Total | |
| | |
| | |
| | |
| |
| June 30, 2020 | |
| 814 | | |
| 533 | | |
| 1,347 | |
| Credit to comprehensive income | |
| 776 | | |
| 109 | | |
| 885 | |
| Acquisitions | |
| 263 | | |
| - | | |
| 263 | |
| June 30, 2021 | |
| 1,853 | | |
| 642 | | |
| 2,495 | |
| Credit/(charged) to comprehensive income | |
| 2,227 | | |
| (54 | ) | |
| 2,173 | |
| June 30, 2022 | |
| 4,080 | | |
| 588 | | |
| 4,668 | |
| Credit to comprehensive income | |
| 196 | | |
| 272 | | |
| 468 | |
| June 30, 2023 | |
| 4,276 | | |
| 860 | | |
| 5,136 | |
The
deferred tax liabilities are analyzed as follows:
| Deferred tax liabilities | |
Accelerated
allowances | | |
Other
timing differences | | |
Total | |
| June 30, 2020 | |
| - | | |
| - | | |
| - | |
| Charged to comprehensive income | |
| - | | |
| 78 | | |
| 78 | |
| Acquisition of subsidiary | |
| - | | |
| (489 | ) | |
| (489 | ) |
| June 30, 2021 | |
| - | | |
| (411 | ) | |
| (411 | ) |
| Charged to comprehensive income | |
| - | | |
| (823 | ) | |
| (823 | ) |
| June 30, 2022 | |
| - | | |
| (1,234 | ) | |
| (1,234 | ) |
| Deferred tax assets liabilities, beginning balance | |
| - | | |
| (1,234 | ) | |
| (1,234 | ) |
| Charged to comprehensive income | |
| - | | |
| (998 | ) | |
| (998 | ) |
| June 30, 2023 | |
| - | | |
| (2,232 | ) | |
| (2,232 | ) |
| Deferred tax assets liabilities, ending balance | |
| - | | |
| (2,232 | ) | |
| (2,232 | ) |
|
| Schedule of property, plant and equipment |
Schedule of property, plant and equipment
| (US dollars in thousands) | |
Computer Equipment | | |
Motor Vehicles | | |
Plant
& Equipment | | |
Fixtures
& Fittings | | |
Right-of-Use Assets | | |
Total | |
| Cost | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| At June 30, 2020 | |
| 476 | | |
| 1,363 | | |
| 1,232 | | |
| 195 | | |
| 2,283 | | |
| 5,549 | |
| Foreign exchange | |
| 41 | | |
| 145 | | |
| 26 | | |
| 18 | | |
| 196 | | |
| 426 | |
| Additions | |
| 125 | | |
| 230 | | |
| 395 | | |
| 6 | | |
| 182 | | |
| 938 | |
| Acquisition | |
| - | | |
| 4 | | |
| 114 | | |
| - | | |
| 88 | | |
| 206 | |
| Disposals | |
| (80 | ) | |
| (174 | ) | |
| (156 | ) | |
| (97 | ) | |
| (58 | ) | |
| (565 | ) |
| At June 30, 2021 | |
| 562 | | |
| 1,568 | | |
| 1,611 | | |
| 122 | | |
| 2,691 | | |
| 6,554 | |
| Foreign exchange | |
| (41 | ) | |
| (154 | ) | |
| (146 | ) | |
| (10 | ) | |
| (214 | ) | |
| (565 | ) |
| Additions | |
| 28 | | |
| 184 | | |
| 343 | | |
| 209 | | |
| 2,470 | | |
| 3,234 | |
| Disposals | |
| - | | |
| (150 | ) | |
| (48 | ) | |
| - | | |
| (53 | ) | |
| (251 | ) |
| Reclass to assets held for sale | |
| (231 | ) | |
| (1,015 | ) | |
| (320 | ) | |
| (74 | ) | |
| (1,295 | ) | |
| (2,935 | ) |
| At June 30, 2022 | |
| 318 | | |
| 433 | | |
| 1,440 | | |
| 247 | | |
| 3,599 | | |
| 6,037 | |
| Reclassifications/corrections | |
| - | | |
| - | | |
| - | | |
| - | | |
| (707 | ) | |
| (707 | ) |
| Foreign exchange | |
| (10 | ) | |
| (23 | ) | |
| (32 | ) | |
| (9 | ) | |
| (43 | ) | |
| (117 | ) |
| Additions | |
| 36 | | |
| 92 | | |
| 558 | | |
| 10 | | |
| 239 | | |
| 935 | |
| Disposals | |
| (37 | ) | |
| (39 | ) | |
| (250 | ) | |
| - | | |
| (54 | ) | |
| (380 | ) |
| At June 30, 2023 | |
| 307 | | |
| 463 | | |
| 1,716 | | |
| 248 | | |
| 3,034 | | |
| 5,768 | |
| (US dollars in thousands) | |
Computer Equipment | | |
Motor Vehicles | | |
Plant
& Equipment | | |
Fixtures
& Fittings | | |
Right-of-Use Assets | | |
Total | |
| Depreciation | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| At June 30, 2020 | |
| 373 | | |
| 836 | | |
| 747 | | |
| 86 | | |
| 1,021 | | |
| 3,063 | |
| Foreign exchange | |
| 31 | | |
| 85 | | |
| 70 | | |
| 8 | | |
| 77 | | |
| 271 | |
| Charge for the year | |
| 66 | | |
| 206 | | |
| 167 | | |
| 8 | | |
| 642 | | |
| 1,089 | |
| Disposals | |
| (71 | ) | |
| (157 | ) | |
| (112 | ) | |
| (46 | ) | |
| (58 | ) | |
| (444 | ) |
| At June 30, 2021 | |
| 399 | | |
| 970 | | |
| 872 | | |
| 56 | | |
| 1,682 | | |
| 3,979 | |
| Foreign exchange | |
| (33 | ) | |
| (95 | ) | |
| (93 | ) | |
| (6 | ) | |
| (167 | ) | |
| (394 | ) |
| Charge for the year (including discontinued operations) | |
| 69 | | |
| 186 | | |
| 179 | | |
| 22 | | |
| 752 | | |
| 1,208 | |
| Disposals | |
| - | | |
| (131 | ) | |
| (9 | ) | |
| - | | |
| (53 | ) | |
| (193 | ) |
| Reclass to assets held for sale | |
| (197 | ) | |
| (719 | ) | |
| (232 | ) | |
| (43 | ) | |
| (1,115 | ) | |
| (2,306 | ) |
| At June 30, 2022 | |
| 238 | | |
| 211 | | |
| 717 | | |
| 29 | | |
| 1,099 | | |
| 2,294 | |
| Reclassifications/corrections | |
| - | | |
| - | | |
| - | | |
| - | | |
| (685 | ) | |
| (685 | ) |
| Foreign exchange | |
| (5 | ) | |
| (10 | ) | |
| (18 | ) | |
| (1 | ) | |
| (29 | ) | |
| (63 | ) |
| Charge for the year | |
| 48 | | |
| 90 | | |
| 179 | | |
| 22 | | |
| 411 | | |
| 750 | |
| Disposals | |
| (26 | ) | |
| (28 | ) | |
| (171 | ) | |
| - | | |
| (45 | ) | |
| (270 | ) |
| At June 30, 2023 | |
| 255 | | |
| 263 | | |
| 707 | | |
| 50 | | |
| 751 | | |
| 2,026 | |
|
| Schedule of intangible assets |
Schedule
of intangible assets
| (US dollars in thousands) | |
2023 | | |
2022 (restated) | | |
2021 (restated) | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022 (restated) | | |
2021 (restated) | |
| Goodwill | |
| 17,697 | | |
| 18,269 | | |
| 25,794 | |
| Other intangible assets | |
| 24,478 | | |
| 21,308 | | |
| 21,151 | |
| Total | |
| 42,175 | | |
| 39,577 | | |
| 46,945 | |
|
| Schedule of goodwill |
Schedule
of goodwill
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| As at July 1 | |
| 18,269 | | |
| 25,794 | | |
| 21,919 | |
| Reclassification to held for sale assets | |
| - | | |
| (5,289 | ) | |
| - | |
| Goodwill on acquisition of Tembo | |
| - | | |
| - | | |
| 1,698 | |
| Foreign exchange | |
| (572 | ) | |
| (2,236 | ) | |
| 2,177 | |
| Carrying value | |
| 17,697 | | |
| 18,269 | | |
| 25,794 | |
|
| Schedule of carrying amounts of goodwill cash generating unit |
Schedule
of carrying amounts of goodwill cash generating unit
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| Aevitas O Holdings Limited (allocated to the Critical Power Services
segment) | |
| 6,946 | | |
| 7,222 | | |
| 13,658 | |
| VivoPower Pty Ltd (allocated to the Solar Development segment) | |
| 9,091 | | |
| 9,451 | | |
| 10,319 | |
| Tembo (allocated to the Electric Vehicle segment) | |
| 1,660 | | |
| 1,595 | | |
| 1,817 | |
| Total | |
| 17,697 | | |
| 18,269 | | |
| 25,794 | |
| Goodwill | |
| 17,697 | | |
| 18,269 | | |
| 25,794 | |
|
| Schedule of other intangible assets |
Schedule
of other intangible assets
| (US dollars in thousands) | |
Customer Relationships | | |
Trade Names | | |
Favorable Supply Contracts | | |
Solar Projects | | |
Product Development | | |
Other Intangible Assets | | |
Total Intangible Assets | |
| Cost | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| At June 30, 2020 | |
| 4,382 | | |
| 2,399 | | |
| 4,099 | | |
| - | | |
| - | | |
| 156 | | |
| 11,036 | |
| Foreign exchange | |
| 411 | | |
| 225 | | |
| 385 | | |
| - | | |
| - | | |
| 13 | | |
| 1,034 | |
| Additions | |
| 46 | | |
| - | | |
| - | | |
| - | | |
| 513 | | |
| - | | |
| 559 | |
| Acquisitions | |
| 1,492 | | |
| 404 | | |
| - | | |
| 12,248 | | |
| - | | |
| - | | |
| 14,144 | |
| Disposals | |
| (550 | ) | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (550 | ) |
| Prior year restatement | |
| - | | |
| - | | |
| - | | |
| (504 | ) | |
| - | | |
| - | | |
| (504 | ) |
| At June 30, 2021 restated | |
| 5,781 | | |
| 3,028 | | |
| 4,484 | | |
| 11,744 | | |
| 513 | | |
| 169 | | |
| 25,719 | |
| Foreign exchange | |
| (542 | ) | |
| (271 | ) | |
| (376 | ) | |
| - | | |
| (63 | ) | |
| (13 | ) | |
| (1,265 | ) |
| Additions | |
| - | | |
| - | | |
| - | | |
| 878 | | |
| 3,355 | | |
| 19 | | |
| 4,252 | |
| Acquisitions | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Disposals | |
| - | | |
| (9 | ) | |
| - | | |
| - | | |
| - | | |
| - | | |
| (9 | ) |
| Reclass to Assets held for sale | |
| (2,687 | ) | |
| (1,385 | ) | |
| - | | |
| - | | |
| - | | |
| - | | |
| (4,072 | ) |
| At June 30, 2022 restated | |
| 2,552 | | |
| 1,363 | | |
| 4,108 | | |
| 12,622 | | |
| 3,805 | | |
| 175 | | |
| 24,625 | |
| Other
intangible assets, Cost | |
| 2,552 | | |
| 1,363 | | |
| 4,108 | | |
| 12,622 | | |
| 3,805 | | |
| 175 | | |
| 24,625 | |
| Foreign exchange | |
| 4 | | |
| (25 | ) | |
| (157 | ) | |
| - | | |
| 302 | | |
| (1 | ) | |
| 123 | |
| Additions | |
| - | | |
| - | | |
| - | | |
| 103 | | |
| 3,725 | | |
| 29 | | |
| 3,857 | |
| Acquisitions | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Disposals | |
| - | | |
| - | | |
| - | | |
| (47 | ) | |
| - | | |
| - | | |
| (47 | ) |
| At June 30, 2023 | |
| 2,556 | | |
| 1,338 | | |
| 3,951 | | |
| 12,678 | | |
| 7,832 | | |
| 203 | | |
| 28,558 | |
| Oher
intangible assets, Cost | |
| 2,556 | | |
| 1,338 | | |
| 3,951 | | |
| 12,678 | | |
| 7,832 | | |
| 203 | | |
| 28,558 | |
| Amortization | |
Customer Relationships | | |
Trade Names | | |
Favorable Supply Contracts | | |
Solar Projects | | |
Product Development | | |
Other | | |
Total | |
| At June 30, 2020 | |
| 1,405 | | |
| 572 | | |
| 978 | | |
| - | | |
| - | | |
| 151 | | |
| 3,106 | |
| Oher
intangible assets, Amortization | |
| 1,405 | | |
| 572 | | |
| 978 | | |
| - | | |
| - | | |
| 151 | | |
| 3,106 | |
| Foreign exchange | |
| 131 | | |
| 54 | | |
| 92 | | |
| - | | |
| - | | |
| 18 | | |
| 295 | |
| Amortization | |
| 622 | | |
| 229 | | |
| 298 | | |
| - | | |
| 18 | | |
| - | | |
| 1,167 | |
| At June 30, 2021 | |
| 2,158 | | |
| 855 | | |
| 1,368 | | |
| - | | |
| 18 | | |
| 169 | | |
| 4,568 | |
| Foreign exchange | |
| (208 | ) | |
| (79 | ) | |
| (115 | ) | |
| - | | |
| (2 | ) | |
| (13 | ) | |
| (417 | ) |
| Amortization | |
| 405 | | |
| 181 | | |
| 274 | | |
| - | | |
| - | | |
| - | | |
| 860 | |
| Disposals | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Reclass to Assets held for sale | |
| (1,232 | ) | |
| (462 | ) | |
| - | | |
| - | | |
| - | | |
| - | | |
| (1,694 | ) |
| At June 30, 2022 | |
| 1,123 | | |
| 495 | | |
| 1,527 | | |
| - | | |
| 16 | | |
| 156 | | |
| 3,317 | |
| Oher
intangible assets, Amortization | |
| 1,123 | | |
| 495 | | |
| 1,527 | | |
| - | | |
| 16 | | |
| 156 | | |
| 3,317 | |
| Foreign exchange | |
| (1 | ) | |
| (8 | ) | |
| (61 | ) | |
| - | | |
| 2 | | |
| - | | |
| (68 | ) |
| Amortization | |
| 385 | | |
| 137 | | |
| 266 | | |
| - | | |
| 43 | | |
| - | | |
| 831 | |
| Disposals | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| At June 30, 2023 | |
| 1,507 | | |
| 624 | | |
| 1,732 | | |
| - | | |
| 61 | | |
| 156 | | |
| 4,080 | |
| Oher
intangible assets, Amortization | |
| 1,507 | | |
| 624 | | |
| 1,732 | | |
| - | | |
| 61 | | |
| 156 | | |
| 4,080 | |
| Net book value | |
Customer Relationships | | |
Trade Names | | |
Favorable Supply Contracts | | |
Solar Projects | | |
Product Development | | |
Other | | |
Total | |
| At June 30, 2021 restated | |
| 3,623 | | |
| 2,173 | | |
| 3,116 | | |
| 11,744 | | |
| 495 | | |
| - | | |
| 21,151 | |
| At June 30, 2022 restated | |
| 1,429 | | |
| 868 | | |
| 2,581 | | |
| 12,622 | | |
| 3,789 | | |
| 19 | | |
| 21,308 | |
| At June 30, 2023 | |
| 1,049 | | |
| 714 | | |
| 2,219 | | |
| 12,678 | | |
| 7,771 | | |
| 47 | | |
| 24,478 | |
|
| Schedule of joint ventures |
Schedule
of joint ventures
Reconciliation
of the ISS Joint Venture investment is as follows:
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| Capital commitment | |
| - | | |
| - | | |
| - | |
| Commission credit | |
| - | | |
| - | | |
| - | |
| Discontinued projects | |
| - | | |
| - | | |
| - | |
| Acquisition costs | |
| - | | |
| - | | |
| - | |
| Total | |
| - | | |
| - | | |
| - | |
Allocation
of the net book value of the equity accounted investment in the ISS Joint Venture, between current assets held for sale, and non-current
investments (as disclosed in Note 16), until acquisition and consolidation on June 30, 2021, was as follows:
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| Assets classified as held for sale | |
| - | | |
| - | | |
| - | |
| Investments accounted for using the equity method | |
| - | | |
| - | | |
| - | |
| Total | |
| - | | |
| - | | |
| - | |
The
table below provides summarized financial information for the ISS Joint Venture. The information disclosed reflects the amounts presented
in the financial statements of ISS Joint Venture, amended to reflect adjustments made by the Company when using the equity method, including
fair value adjustments and modifications for differences in accounting policy. The summarized financial information for the ISS Joint
Venture does not represent the Company’s share of those amounts.
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| Current assets | |
| - | | |
| - | | |
| - | |
| Non-current assets | |
| - | | |
| - | | |
| - | |
| Total | |
| - | | |
| - | | |
| - | |
Reconciliation
to carrying amounts of the ISS Joint Venture:
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| Opening net assets | |
| - | | |
| - | | |
| 24,390 | |
| Commission credit | |
| - | | |
| - | | |
| - | |
| Commission credit on abandonments | |
| - | | |
| - | | |
| - | |
| Sundry income | |
| - | | |
| - | | |
| - | |
| Project swaps | |
| - | | |
| - | | |
| - | |
| Abandoned projects | |
| - | | |
| - | | |
| (13,900 | ) |
| Acquisition of controlling interest | |
| - | | |
| - | | |
| (10,490 | ) |
| Net assets | |
| - | | |
| - | | |
| - | |
| VivoPower share in % | |
| N/A | | |
| N/A | | |
| 50 | % |
| VivoPower share in $ (excluding funding obligation) | |
| - | | |
| - | | |
| - | |
| Commission credit | |
| - | | |
| - | | |
| - | |
| Acquisition costs | |
| - | | |
| - | | |
| - | |
| Net Assets | |
| - | | |
| - | | |
| - | |
|
| Schedule of trade and other receivables |
Schedule
of trade and other receivables
| (US dollars in thousands) | |
2023 | | |
2022
(restated) | | |
2021
(restated) | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022
(restated) | | |
2021
(restated) | |
| Current receivables | |
| | | |
| | | |
| | |
| Trade receivables | |
| 1,649 | | |
| 3,866 | | |
| 4,959 | |
| Contract assets | |
| 893 | | |
| 694 | | |
| 2,723 | |
| Prepayments | |
| 277 | | |
| 787 | | |
| 2,837 | |
| Other receivables | |
| 4,027 | | |
| 3,055 | | |
| 1,580 | |
| Deposits | |
| - | | |
| 504 | | |
| 504 | |
| Current tax receivable | |
| 175 | | |
| 182 | | |
| 182 | |
| Total | |
| 7,021 | | |
| 9,088 | | |
| 12,785 | |
|
| Schedule of analysis of trade receivables |
Analysis
of trade receivables:
Schedule
of analysis of trade receivables
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| Trade and other receivables | |
| 1,649 | | |
| 3,866 | | |
| 4,959 | |
| Less: credit note provision | |
| - | | |
| - | | |
| - | |
| Total | |
| 1,649 | | |
| 3,866 | | |
| 4,959 | |
|
| Schedule of maximum exposure to credit risk for trade receivables |
The
maximum exposure to credit risk for trade receivables by geographic region was:
Schedule
of maximum exposure to credit risk for trade receivables
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| United States | |
| - | | |
| - | | |
| - | |
| United Kingdom | |
| - | | |
| - | | |
| - | |
| Australia | |
| 1,451 | | |
| 2,684 | | |
| 4,349 | |
| Netherlands | |
| 198 | | |
| 1,181 | | |
| 610 | |
| Total | |
| 1,649 | | |
| 3,866 | | |
| 4,959 | |
| Trade receivables | |
| 1,649 | | |
| 3,866 | | |
| 4,959 | |
|
| Schedule of aging of the trade receivables, net of provisions |
The
aging of the trade receivables, net of provisions is:
Schedule
of aging of the trade receivables, net of provisions
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| 0-90 days | |
| 1,410 | | |
| 3,306 | | |
| 4,918 | |
| Greater than 90 days | |
| 239 | | |
| 560 | | |
| 41 | |
| Total | |
| 1,649 | | |
| 3,866 | | |
| 4,959 | |
| Trade receivables | |
| 1,649 | | |
| 3,866 | | |
| 4,959 | |
|
| Schedule of inventory |
Schedule
of inventory
| (US dollars in thousands) | |
2023 | | |
2022
(restated) | | |
2021
(restated) | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022
(restated) | | |
2021
(restated) | |
| Raw materials | |
| 2,115 | | |
| 1,887 | | |
| 1,968 | |
| Total | |
| 2,115 | | |
| 1,887 | | |
| 1,968 | |
|