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Central Asia Metals PLC Proposed acquisition of -67-

22 Sep 2017 6:01 am

Deferred tax assets and liabilities are attributable to the following items:
 
                                                                   Assets             Liabilities 
                                                             ------------------    ---------------- 
                                                                2016       2015     2016      2015 
                                                             ---------    -----    ------    ------ 
 Deferred tax assets 
  - short term loan                                            120,920        -         -         - 
  to related parties................................... 
                                                             ---------    -----    ------    ------ 
 Tax assets..............................................      120,920        -         -         - 
                                                             =========    =====    ======    ====== 
 

Deferred tax asset balance is recoverable within 12 months following the reporting date.

The movement in deferred tax assets during the year is as follow:
 
                                                                                 Recognized 
                                                                   At 19         in statement 
                                                                  January      of comprehensive   At 31 December 
                                                                    2015            income             2016 
                                                                ----------   ------------------  --------------- 
 Deferred tax 
  assets..............................................                     -             120,920          120,920 
                                                                 -----------  ------------------  --------------- 
 Tax assets (Note 
  14)...........................................                           -             120,920          120,920 
                                                                 ===========  ==================  =============== 
 
   18.       Inventories 
 
                                                                                                 2016        2015 
                                                                                              ----------  ---------- 
 Raw 
  materials................................................................................. 
  ................................                                                               335,185     546,567 
 Finished 
  goods..................................................................................... 
  .........................                                                                      284,262     792,735 
 Spare parts and other 
  materials................................................................................. 
  ..                                                                                             949,603     553,362 
                                                                                              ----------  ---------- 
                                                                                               1,569,050   1,892,664 
                                                                                              ==========  ========== 
 

Finished goods represents lead and zinc concentrate.
   19.       Trade and other financial receivables 

Carrying amount of trade receivables is presented as follows:
 
                                                                                                 2016        2015 
                                                                                              ----------  ---------- 
 Trade receivables 
  domestic.................................................................................. 
  ..                                                                                           3,690,147   5,304,324 
 Trade receivables 
  foreign................................................................................... 
  .....                                                                                            1,026       7,710 
                                                                                              ----------  ---------- 
 Trade receivables - 
  gross..................................................................................... 
  ..                                                                                           3,691,173   5,312,034 
 Provision for impairment of trade 
  receivables......................................................                                    -     (6,810) 
                                                                                              ----------  ---------- 
                                                                                               3,691,173   5,305,224 
                                                                                              ==========  ========== 
 

Carrying amount of trade and other financial receivables is presented as follows:
 
                                                                                                 2016        2015 
                                                                                              ----------  ---------- 
 Trade receivables domestic (Note 
  26)...................................................................                       3,690,147   5,304,324 
 Foreign receivables from related 
  parties (Note 26)..............................................                                  1,026       7,710 
 Less: Provision for 
  impairment...............................................................................            -     (6,810) 
                                                                                              ----------  ---------- 
 Trade receivables - 
  net....................................................................................... 
  .....                                                                                        3,691,173   5,305,224 
 Prepaid expenses and advance 
  payments............................................................                         2,218,322   1,147,672 
 Less: provision for                                                                           (551,794)           - 
 advances................................................................................. 
 VAT 
  receivables............................................................................... 
  ........................                                                                       959,713     617,299 
 Other short-term 
  receivables............................................................................... 
  ...                                                                                            587,126         389 
                                                                                              ----------  ---------- 
 Other financial 
  receivables............................................................................... 
  ....                                                                                         3,213,367   1,765,360 
                                                                                              ----------  ---------- 
                                                                                               6,904,540   7,070,584 
                                                                                              ==========  ========== 
 

The ageing analysis of trade receivables is as follows:
 
                                                                                                 2016        2015 
                                                                                              ----------  ---------- 
 Not past 
  due....................................................................................... 
  .......................                                                                      3,691,173   5,305,224 
 Up to 30 days 
 From 31 to 90                                                                                         -           - 
 days....................................................................................... 
 ............ 
 From 91 to 180                                                                                        -           - 
 days....................................................................................... 
 .......... 
                                                                                              ----------  ---------- 
 Total gross 
  receivables............................................................................... 
  ............                                                                                 3,691,173   5,305,224 
                                                                                              ==========  ========== 
 

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September 22, 2017 02:01 ET (06:01 GMT)

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