13. CONTRACT ASSETS As at 31 Dec 2024 $’000 As at 31 Dec 2023 $’000 Current assets Accrued income 17,756 12,800 Reconciliation Reconciliation of the written down values at the beginning and end of the current and previous financial year are set out below: Opening balance 12,800 – Additions 56,191 12,800 Transfer to trade receivables (51,235) – Closing balance 17,756 12,800 14. TRADE AND OTHER PAYABLES As at 31 Dec 2024 $’000 As at 31 Dec 2023 $’000 Current liabilities Trade payables 1,449 675 Accruals 943 2,174 Employee benefits 503 569 2,895 3,418 Non-current liabilities Employee benefits 41 – Total Trade and other payables 2,936 3,418 Trade payables and accruals relate to operating expenses, primarily research and development expenses. Trade payables comprise amounts invoiced prior to the reporting date and accruals comprise the value of goods or services received but not invoiced at each reporting date. Refer to Note 20 for further information on financial instruments and risk management. 15. DERIVATIVE FINANCIAL INSTRUMENTS As at 31 Dec 2024 $’000 As at 31 Dec 2023 $’000 Current assets Forward exchange contracts 1,362 – As at 31 Dec 2024 $’000 As at 31 Dec 2023 $’000 Current liabilities Forward exchange contracts – 2,226 Refer to Note 20 for further details. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED Neuren Pharmaceuticals Limited Annual Report 2024 39
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