Notes to the Company annual financial statements | Note 23

23. NEW STANDARDS AND INTERPRETATIONS
 

Standards and interpretations not yet effective

The standards, interpretations and amendments listed below will only be effective in future reporting periods. It is expected that BLT will adopt the pronouncements on their respective effective dates. The amendments are not expected to have a material impact on BLT.

Standards, interpretations and amendments issued but not effective Effective date
IAS 12 (Income Taxes)  
Amendments regarding deferred tax related to assets and liabilities arising from a single transaction Year ending 31 May 2024
Narrow scope amendments to IAS 1 'Presentation of Financial Statements', Practice statement 2 and IAS 8 'Accounting Policies, Changes in Accounting Estimates and Errors' Year ending 31 May 2024
IAS 1 (Presentation of Financial Statements)  
'Presentation of Financial Statements' on Classification of Liabilities as Current or Non-current Year ending 31 May 2024
IFRS 7 (Financial Instruments)  
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. Year ending 31 May 2025
IAS 16 (Property, Plant and Equipment)  
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. Year ending 31 May 2025
IAS 7 Statement of Cash Flows  
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. Year ending 31 May 2025