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AXIOM MINING LIMITED
ANNUAL REPORT 2015
Notes to the
financial statements
for the year ended 30 September 2015
COMPANY FINANCIAL REPORT
10. Income tax
No provision for Hong Kong profits tax has been made as the Company did not generate any assessable profits arising in
Hong Kong during the year (2014: Nil).
There is no significant unrecognised deferred tax in respect of the year and as at the end of the reporting period (2014: Nil).
11. Cash and cash equivalents
2015
AU$000
2014
AU$000
Cash and bank balances
1,084
2,075
Non-pledged time deposits with original maturity of less than three months
12
11
Funds held in trusts
74
121
1,170
2,207
All balances are denominated in AU$.
The effective interest rate on short-term bank deposits was 2.50% (2014: 3.54%); these deposits have an average maturity
of 90 days.
12. Prepayment and other receivables
2015
AU$000
2014
AU$000
Prepayments
102
43
Other receivables
87
336
189
379
None of the above assets are either past due or impaired. The financial assets included in the above balances relate to
receivables for which there was no recent history of default and are repayable between 30 to 90 days.
13. Amounts due from subsidiaries
2015
AU$000
2014
AU$000
Amounts receivable from subsidiaries
30,284
19,759
Impairment
(23,537)
(19,759)
6,747
–
The amounts due from subsidiaries are unsecured, non-interest bearing and have no fixed terms of repayment.