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, however the impact will continue to be assessed of the new standards as
issued, but not yet effective. As it stands, our assessment indicates that the new standards are expected to affect the
presentation and disclosure as it pertains to the financial statements, and not the recognition and measurement of any
items included in the primary financial statements.
| Standards, interpretations and amendments issued but not effective |
|
Effective date |
| IAS 21 (The effects of changes in foreign exchange rates) |
|
Year ending 31 May 2026 |
| Lack of exchangeability, the amendments require an entity to apply a consistent approach
to assessing whether a currency is exchangeable into another currency and when it is not. |
|
|
| 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. |
|
|
Annual Improvements to IFRS Accounting Standards Volume 11 – Amendments to
IFRS 1 (First-time Adoption of International Financial Reporting Standards), IFRS 7,
IFRS 9, IFRS 10 (Consolidated Financial Statements) and IAS 7 (Statement of Cash flows) |
|
Year ending 31 May 2027 |
The amendments were made to address potential inconsistencies and potential
confusions in the standards relating to:
IFRS 1 dealing with hedge accounting by a first-time adopter
IFRS 7 dealing with gain or loss on derecognition and disclosures in the implementation
guidance
IFRS 9 dealing with lessee derecognition of lease liabilities and transaction price
IFRS 10 dealing with Determination of a ‘de facto agent’; and
IFRS 7 dealing with the term ‘cost method’. |
|
|
| 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 the same recognition, measurement and presentation
as IFRS Accounting Standards, but allows for specific reduced disclosure area. 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. |
|
|
