Company: MOBBW
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001013762-25-003365
Chunk: 136

Company: Mobilicom Ltd
Filing Date: 2025-03-27
Form: 20-F
Item: Item 19
Chunk 136
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 the financial year and which are unpaid.
Due to their short-term nature, they are measured at amortised cost and are not discounted. The amounts are unsecured and are usually
paid within 30 days of recognition.

F-24

  Mobilicom Limited                               
  Notes to the consolidated financial statements  
  December 31, 2024                               
 ──────────────────────────────────────────────────

Note 17. Lease liabilities

                   Consolidated                                              
                   As of                          As of                      
                   December 31,                   December 31,               
                   2024                           2023                       
                   $                              $                          
  Current                            211,265                        223,700  
  Non-current                         16,028                        229,078  
                                     227,293                        452,778  

Refer to note 25 for further information on financial instruments.

Accounting
policy for lease liabilities

A
lease liability is recognised at the commencement date of a lease. The lease liability is initially recognised at the present value of
the lease payments to be made over the term of the lease, discounted using the interest rate implicit in the lease or, if that rate cannot
be readily determined, the Company’s incremental borrowing rate. Lease payments comprise of fixed payments less any lease incentives
receivable, variable lease payments that depend on an index or a rate, amounts expected to be paid under residual value guarantees, exercise
price of a purchase option when the exercise of the option is reasonably certain to occur, and any anticipated termination penalties.
The variable lease payments that do not depend on an index or a rate are expensed in the period in which they are incurred.

Lease
liabilities are measured at amortised cost using the effective interest method. The carrying amounts are remeasured if there is a change
in the following: future lease payments arising from a change in an index, or a rate used; residual guarantee; lease term; certainty
of a purchase option and termination penalties. When a lease liability is remeasured, an adjustment is made to the corresponding right-of
use asset, or to profit or loss if the carrying amount of the right-of-use asset is fully written down.

Reconciliations

Reconciliations
of the values at the beginning and end of the current and previous financial year are set out below:

  Consolidated                                                           
 ─────────────────────────────────────────────────────────────────────────
  Balance at January 1                           452,778        292,001  
  Additions                                            -