Company: MOBBW
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001013762-25-003365
Chunk: 135

Company: Mobilicom Ltd
Filing Date: 2025-03-27
Form: 20-F
Item: Item 19
Chunk 135
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69,027  
  Depreciation expense                             ( 149,802                   ( 62,641      ( 212,443  
  Balance at December 31, 2023                       379,523                     80,777        460,300  
  Depreciation expense                             ( 190,953                   ( 36,479      ( 227,432  
  Balance at December 31, 2024                       188,570                     44,298        232,868  

Accounting
policy for right-of-use assets

A
right-of-use asset is recognised at the commencement date of a lease. The right-of-use asset is measured at cost, which comprises the
initial amount of the lease liability, adjusted for, as applicable, any lease payments made at or before the commencement date net of
any lease incentives received, any initial direct costs incurred, and, except where included in the cost of inventories, an estimate
of costs expected to be incurred for dismantling and removing the underlying asset, and restoring the site or asset.

Right-of-use
assets are depreciated on a straight-line basis over the unexpired period of the lease or the estimated useful life of the asset, whichever
is the shorter. Where the company expects to obtain ownership of the leased asset at the end of the lease term, the depreciation is over
its estimated useful life. Right-of use assets are subject to impairment or adjusted for any remeasurement of lease liabilities.

The
Company has elected not to recognise a right-of-use asset and corresponding lease liability for short-term leases with terms of 12 months
or less and leases of low-value assets. Lease payments on these assets are expensed to profit or loss as incurred.

Note 16. Current liabilities - trade and other payables

                      Consolidated                                                  
                      As of                            As of                        
                      December 31,                     December 31,                 
                      2024                             2023                         
                      $                                $                            
  Trade payables                          274,380                          501,424  
  Other payables                          959,274                          918,595  
                                        1,233,654                        1,420,019  

Refer to notes 2 and 25 for further information on financial instruments.

Amounts noted
above in other payables include amounts payable to Directors for wages payable.

Accounting
policy for trade and other payables

These
amounts represent liabilities for goods and services provided to the company prior to the end of