Notes to the Consolidated Financial Statements for the year ended 30 June 2025 14. Trade and other payables Trade and other payables represent unsecured liabilities for goods and services provided to the Group. These amounts typically have 30-day payment terms. The Group’s trade and other payables are as follows: 2025 $’000 2024 $’000 LIABILITIES Current liabilities Trade payables 29 249 Other payables 87 55 116 304 15. Provisions Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the reporting date. Liabilities accruing to employees expected to be settled within 12 months of the balance date are recognised as current liabilities in respect of employees’ services up to the balance date. The Group’s provisions are as follows: 2025 $’000 2024 $’000 LIABILITIES Current liabilities Provision for employee benefits 127 143 127 143 16. Issued capital Ordinary shares are classified as equity. Costs attributable to the issue of new shares or options are shown in equity as a deduction, net of tax. Reconciliation of movements in issued capital is as follows: 2025 2024 Number $’000 Number $’000 Opening balance at the beginning of the year 393,169,907 155,674 392,631,111 155,309 Performance rights redeemed as shares1 – – 194,558 96 Performance rights redeemed as shares2 – – 311,981 240 Performance rights redeemed as shares3 – – 32,257 29 Performance rights redeemed as shares4 1,635,043 550 – – 394,804,950 156,224 393,169,907 155,674 Note 1: On 3 August 2023, Sheffield issued 194,558 fully paid ordinary shares for nil consideration to employees of Sheffield. The shares were issued upon vesting and exercise of performance rights. The consideration has been transferred from Reserves. Note 2: On 19 January 2024, Sheffield issued 311,981 fully paid ordinary shares for nil consideration to former employees of Sheffield. The former employees exercised the performance rights previously granted to them during their employment with the Company. The consideration has been transferred from Reserves. Note 3: On 26 April 2024, Sheffield issued 32,257 fully paid ordinary shares for nil consideration to former employees of Sheffield. The former employees exercised the performance rights previously granted to them during their employment with the Company. The consideration has been transferred from Reserves. Note 4: On 9 August 2024, Sheffield issued 1,635,043 fully paid ordinary shares for nil consideration to a director of Sheffield. The shares were issued upon vesting and exercise of performance rights. The consideration has been transferred from Reserves. 66 Sheffield Resources Limited Annual Report 2025
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