The standards, interpretations and amendments listed below will only be effective in future reporting periods. It is
expected that the Group will adopt the pronouncements on their respective effective dates. The amendments are
not expected to have a material impact on the Group, however the impact will continue to be assessed as these
standards are adopted.
| IAS 1 (Presentation of Financial Statements) |
Year ending 31 May 2025 |
| Presentation of Financial Statements’ on Classification of Liabilities as Current or
Non-current |
|
| The amendments clarify the requirements on determining whether a liability is
current or non-current, and require new disclosures for non-current liabilities that
are subject to future covenants. |
|
| IAS 7 Statement of Cash Flows and IFRS 7 (Financial Instruments) |
Year ending 31 May 2025 |
| Requires a company to disclose specific information about its supplier finance
arrangements that enables users of financial statements to assess the effects of
those arrangements on the Company’s liabilities and cash flows and on the
Company’s exposure to liquidity risk. |
|
| IFRS 16 (Leases) |
Year ending 31 May 2025 |
| Amendment to Lease Liability in a Sale and Leaseback. The new requirement does
not prevent the seller-lessee from recognising in profit or loss any gain or loss
relating to the partial or full termination of a lease. |
|
| IAS 21 (The effects of changes in foreign exchange rates) |
Year ending 31 May 2025 |
| Lack of exchangeability, the amendments require an entity to apply a consistent
approach to assessing whether a currency is exchangeable into another current
and when it is not. |
|
| IFRS 7 (Financial Instruments: Disclosures) |
|
| Requires a company to disclose specific information about its supplier financing
arrangements. |
Year ending 31 May 2025 |
| IFRS 9 (Financial Instruments) |
Year ending 31 May 2027 |
| Amendments to the classification and measurement of the financial instruments. |
|
| Clarifying the classification of financial assets and ESG and similar features. Clarifying
the date on which a financial asset and financial liability is derecognised, when a
liability is settled through electronic payment systems. |
|
| IFRS 7 (Financial Instruments: Disclosures) |
Year ending 31 May 2027 |
| Amendments to the classification and measurement of the financial instruments.
IFRS 7 introduces the additional disclosure requirements to enhance transparency
for investors regarding investments in equity instruments designated at fair value
through OCI and financial instruments with contingent features, for example
features tied to ESG-linked targets. |
|
| IFRS 18 (Presentation and Disclosure in the Financial Statements) |
Year ending 31 May 2028 |
| Improved comparability in the statement of profit or loss (income statement)
through the introduction of three defined categories, operating, investing and
financing but essentially does not change net profit. Introduces enhanced
transparency of management defined performance measures which will be part
of the audited financial statements. Further provides guidance on more useful
grouping of information in the financial statements through enhanced guidance
on how to organise information. |
|
| IFRS 19 (Subsidiaries Without Public Accountability Disclosures) |
Year ending 31 May 2028 |
| Permits eligible subsidiaries to use IFRS accounting with reduced disclosures.
Subsidiaries are eligible to apply IFRS 19 if they do not have public accountability
and their parent company applies IFRS accounting standards in their consolidated
financial statements. |
|
