2.3 Standards, interpretations and amendments to existing standards

Standards, interpretations and amendments to existing standards

New and amended IFRS Standards that are effective for the current year

In the current year, the Company has applied a number of amendments to IFRS Accounting Standards issued by the International Accounting Standards Board (IASB) that are mandatorily effective for an accounting period that begins on or after 1 January 2023. Their adoption has not had any material impact on the disclosures or on the amounts reported in these financial statements.

New Standards or amendments

Effective date

IFRS 17 Insurance Contracts (including the June 2020 and December 2021 Amendments to IFRS 17) Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements – Disclosure of Accounting Policies Amendments to IAS 12 Income Taxes – Deferred Tax related to Assets and Liabilities arising from a Single Transaction Amendments to IAS 12 Income Taxes— International Tax Reform—Pillar Two Model Rules Amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors—Definition of Accounting Estimates

1 January 2023   1 January 2023 1 January 2023 1 January 2023 1 January 2023

New and revised IFRS in issue but not yet effective

The Company has not applied the following new and revised IFRS Standards that have been issued but are not yet effective:

New Standards or amendments	Effective date
Amendments to IAS 1 Presentation of Financial Statements – Classification of Liabilities as Current or Non-current	No effective date set
Amendments to IAS 1 Presentation of Financial Statements – Non-current Liabilities with Covenants	1    January 2024
Amendments to IFRS 16 Amendments to clarify how a seller-lessee subsequently measures sale and leaseback transactions	1 January 2024
Amendments to IFRS 10 and IAS 28- Sale or Construction of assets between an Investor and its associate or joint venture	1 January 2024
Amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures—Supplier Finance Arrangements	1 January 2024
IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information	1 January 2024
IFRS S2 Climate-related Disclosures	1 January 2024
Amendments to IAS 21 Lack of Exchangeability	1 January 2024

Management anticipates that these standards will not have any significant impact on these financial statements.