Assets classified as held for sale (Tables)
|
12 Months Ended |
Jun. 30, 2023 |
|---|
| Subclassifications of assets, liabilities and equities [abstract] |
|
| Schedule of assets held for sale |
Schedule
of assets held for sale
| (US dollars in thousands) | |
% Owned | | |
2023 | | |
2022 | | |
2021 | |
| | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
% Owned | | |
2023 | | |
2022 | | |
2021 | |
| Kenshaw Solar Pty Ltd (formerly J.A. Martin
Electrical Pty Limited) - ex solar | |
| 100 | % | |
| - | | |
| 8,214 | | |
| - | |
| Total | |
| | | |
| - | | |
| 8,214 | | |
| - | |
| Assets held for sale | |
| | | |
| - | | |
| 8,214 | | |
| - | |
|
| Schedule of finanacial performance and cash flow information |
The
financial performance and cash flow information presented are for the years ended June 30, 2023, 2022 and 2021:
Schedule
of finanacial performance and cash flow information
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| | |
Year
Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022 | | |
2021 | |
| Revenues | |
| - | | |
| 15,168 | | |
| 16,436 | |
| Other income | |
| - | | |
| 324 | | |
| 552 | |
| Loss on disposal of business | |
| (4,207 | ) | |
| - | | |
| - | |
| Expenses | |
| - | | |
| (16,266 | ) | |
| (16,895 | ) |
| (Loss)/profit before income tax | |
| (4,207 | ) | |
| (774 | ) | |
| 92 | |
| Income tax expense | |
| - | | |
| 149 | | |
| (23 | ) |
| (Loss)/gain from discontinued operations | |
| (4,207 | ) | |
| (625 | ) | |
| 69 | |
| | |
| | | |
| | | |
| | |
| Net cash (outflow)/inflow from operating activities | |
| (4,207 | ) | |
| (625 | ) | |
| 69 | |
| Net cash inflow/(outflow) from investing activities | |
| - | | |
| - | | |
| - | |
| Net cash inflow/(outflow) from financing activities | |
| - | | |
| - | | |
| - | |
| Net (decrease)/increase in cash generated by subsidiary | |
| (4,207 | ) | |
| (625 | ) | |
| 69 | |
|
| Schedule of assets and liabilities held for sale and discontinued operations |
The
following assets and liabilities were reclassified as held for sale in relation to the discontinued operations as at June 30, 2022
and subsequently disposed of in the year ended June 30, 2023:
Schedule
of assets and liabilities held for sale and discontinued operations
| (US dollars in thousands) | |
2023 | | |
2022 | |
| | |
Year Ended June 30 | |
| (US dollars in thousands) | |
2023 | | |
2022 | |
| Assets classified as held for sale | |
| | | |
| | |
| Trade and other receivables | |
| - | | |
| 239 | |
| Property, plant and equipment | |
| - | | |
| 629 | |
| Goodwill | |
| - | | |
| 5,289 | |
| Intangible assets | |
| - | | |
| 2,056 | |
| Total assets of disposal group classified as held for sale | |
| - | | |
| 8,214 | |
| | |
| | | |
| | |
| Liabilities directly associated with assets classified as held for sale | |
| | | |
| | |
| Trade and other payables | |
| - | | |
| 91 | |
| Provisions - current | |
| - | | |
| 1,126 | |
| Lease liabilities - current | |
| - | | |
| 157 | |
| Provisions - non-current | |
| - | | |
| 74 | |
| Lease liabilities - non-current | |
| - | | |
| 49 | |
| Total liabilities of disposal group classified as held
for sale | |
| - | | |
| 1,497 | |
|
| Schedule of consideration received or receivable |
Schedule
of consideration received or receivable
| | |
USD 000 | | |
AUD 000 | |
| Consideration received or receivable | |
| | | |
| | |
| Cash | |
| 2,874 | | |
| 4,336 | |
| Fair value of contingent consideration | |
| 624 | | |
| 941 | |
| Less costs to sell | |
| (362 | ) | |
| (525 | ) |
| Total disposal consideration | |
| 3,136 | | |
| 4,752 | |
| Estimated carrying amount of net assets sold | |
| 6,989 | | |
| 10,143 | |
| Loss on sale | |
| (3,854 | ) | |
| (5,391 | ) |
|
| Schedule of reconciliation of adjusted loss on sale |
Schedule
of reconciliation of adjusted loss on sale
| Reconciliation of adjusted loss on sale | |
USD 000 | | |
AUD 000 | |
| Gain on sale - as estimated at June 30, 2022 | |
| 34 | | |
| 50 | |
| Cash consideration adjustment | |
| 378 | | |
| 529 | |
| Fair value of contingent consideration adjustment | |
| (3,965 | ) | |
| (5,548 | ) |
| Cost to sell adjustment | |
| (18 | ) | |
| (25 | ) |
| Carrying amount of net assets sold adjustment | |
| (283 | ) | |
| (397 | ) |
| Loss on sale | |
| (3,854 | ) | |
| (5,391 | ) |
|
| Schedule of trade and other payables |
Schedule of trade and other payables
| (US dollars in thousands) | |
2023 | | |
2022
(restated) | | |
2021 | |
| Current trade and other payables | |
| | | |
| | | |
| | |
| Trade payables | |
| 7,725 | | |
| 5,692 | | |
| 4,324 | |
| Shares to be issued | |
| 2,500 | | |
| - | | |
| - | |
| Accruals | |
| 1,321 | | |
| 4,322 | | |
| 648 | |
| Related party payable | |
| - | | |
| 477 | | |
| - | |
| Payroll liabilities | |
| 2,077 | | |
| 2,210 | | |
| 1,413 | |
| Sales tax payable | |
| 116 | | |
| 949 | | |
| 624 | |
| Deferred income | |
| 318 | | |
| 974 | | |
| 1,129 | |
| Other creditors | |
| 540 | | |
| 833 | | |
| 778 | |
| Total current trade and other payables | |
| 14,597 | | |
| 15,457 | | |
| 8,917 | |
| | |
| | | |
| | | |
| | |
| Non-current other payables | |
| | | |
| | | |
| | |
| Non-current accrued interest | |
| 6,129 | | |
| - | | |
| - | |
| Non-current accrued loan and other fees | |
| 314 | | |
| - | | |
| - | |
| Total non-current other payables | |
| 6,443 | | |
| - | | |
| - | |
|