CAPALLIANZ HOLDINGS LIMITED ANNUAL REPORT 2024 130 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 30 June 2024 CapAllianz Holdings Limited and its Subsidiary Corporations Notes to the Financial Statements Annual Report For the financial year ended 30 June 2024 Page 79 32. New or revised accounting standards and interpretations (continued) Amendments to SFRS(I) 1-1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current (effective for annual periods beginning on or after 1 January 2024) and Noncurrent Liabilities with Covenants (effective for annual periods beginning on or after 1 January 2024) (continued) The amendments require disclosures if an entity classifies a liability as non-current and that liability is subject to covenants that the entity must comply with within 12 months of the reporting date. The disclosures include: • the carrying amount if the liability • information about the covenants, and • facts and circumstances, if any, that indicate that the entity may have difficulty complying with the covenants. The amendments also clarify what SFRS(I) 1-1 means when it refers to the ‘settlement’ of a liability. Terms of a liability that could, at the option of the counterparty, result in its settlement by the transfer of the entity’s own equity instrument can only be ignored for the purpose of classifying the liability as current or non-current if the entity classifies the option as an equity instrument. However, conversion options that are classified as a liability must be considered when determining the current/non-current classification of a convertible note. The Group does not expect any significant impact arising from applying these amendments Amendments to SFRS(I) 1-7 Statement of Cash Flows and SFRS(I) 7 Financial Statements: Disclosures: Supplier finance arrangements (effective for annual periods beginning on or after 1 January 2024) The amendments clarify the characteristics of supplier finance arrangements (“SFA”) and introduce new disclosures of such arrangements. The objective of the new disclosures is to provide information about supplier finance arrangements that enables investors to assess the effects on an entity’s liabilities, cash flows and the exposure to liquidity risk. There is a transitional relief of not requiring comparative information in the first year, and also not requiring disclosure of specified opening balances. The amendments will be effective for annual periods beginning on or after 1 January 2024. Early adoption is permitted. The Group does not expect any significant impact arising from applying these amendments. Amendments to SFRS(I) 16 Leases: Lease liability in a Sale and Leaseback (effective for annual periods beginning on or after 1 January 2024) The narrow-scope amendments to SFRS(I) 16 explain how an entity accounts for a sale and leaseback after the date of the transaction. The amendments specify that, in measuring the lease liability subsequent to the sale and leaseback, the seller-lessee determines ‘lease payments’ and ‘revised lease payments’ in a way that does not result in the seller-lessee recognising any amount of the gain or loss that relates to the right of use that it retains. This could particularly impact sale and leaseback transactions where the lease payments include variable payments that do not depend on an index or a rate. The Group does not expect any significant impact arising from applying these amendments. 33. Authorisation of financial statements These financial statements were authorised for issue in accordance with a resolution of the Board of Directors of CapAllianz Holdings Limited on 14 October 2024.
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