Disclosure Of Material Accounting Policy Information [Text Block]

Vilkyskiu Pienine - Filing #5876170

Concept	2024-01-01 to 2024-12-31
Disclosure of material accounting policy information [text block]	Summary of material accounting policies
Description of accounting policy for borrowing costs [text block]	Borrowings costs
Description of accounting policy for business combinations [text block]	The acquisition method is used to account for business combinations. The consideration transferred in return for the acquisition of the subsidiary is the fair value of the assets transferred, the liabilities assumed and the Group‘s equity interest. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition-related costs are expensed when incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Under the acquisition method, the Group recognises the non-controlling interest in the acquiree either at the fair value or at the non-controlling interest’s proportionate share of net assets in the acquiree.
Description of accounting policy for cash flows [text block]	For the purpose of the cash flow statement, cash and cash equivalents comprise cash on hand, demand deposits in bank accounts and other short-term liquid investments. Bank overdrafts are recognised in the statement of financial position as current borrowings and are not attributed to cash equivalents in the statement of cash flows as usually their balance is negative. Interest and dividends received are attributed to cash flows of investing activities, interest
Description of accounting policy for collateral [text block]	Borrowings
Description of accounting policy for deferred income tax [text block]	Deferred income tax is calculated on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts reported in the financial statements. Deferred income tax is not calculated on temporary differences arising on initial recognition of an asset or liability, which at the time of the transaction affect neither accounting nor taxable profit. Deferred income tax is determined using the tax rates that are expected to apply when the related temporary differences are expected to reverse and that are known at the date of the preparation of the statement of financial position. Deferred income tax assets are recognised only when the Group/Company expects that future taxable profit will be available against which tax assets can be utilised. Deferred income tax is reviewed at each date of the statement of financial position and reduced by the amount of tax assets that will not be utilised.
Description of accounting policy for depreciation expense [text block]	Depreciation is recognised on a straight-line basis to write down the cost of the asset over its useful life, less its residual amount.
Description of accounting policy for derecognition of financial instruments [text block]	Derecognition of financial assets and financial liabilities
Description of accounting policy for determining components of cash and cash equivalents [text block]	Cash and cash equivalents
Description of accounting policy for discounts and rebates [text block]	The goods are sometimes sold with retrospective volume discounts based on aggregate sales over a month or a 12-months period. Revenue from these sales is recognised based on the price specified in the contract, net of the estimated volume discounts. Accumulated historical experience is used to estimate and provide for the discounts, using the expected value method, and revenue is only recognised to the extent that it is highly probable that a significant reversal will not occur. A refund liability is recognised for expected volume discounts payable to customers in relation to sales made until the end of the reporting period. It is considered that there is no significant financing component, since customers are offered a credit period of 30 days to settle their obligations, which is in line with the market practice.
Description of accounting policy for dividends [text block]	Dividends
Description of accounting policy for earnings per share [text block]	Earnings per share
Description of accounting policy for employee benefits [text block]	Employee benefits
Description of accounting policy for expenses [text block]	Cost of sales
Description of accounting policy for fair value measurement [text block]	Fair value measurement
Description of accounting policy for financial assets [text block]	Financial assets and liabilities
Description of accounting policy for foreign currency translation [text block]	Foreign currency transactions
Description of accounting policy for functional currency [text block]	Functional and presentation currency
Description of accounting policy for goodwill [text block]	Goodwill
Description of accounting policy for government grants [text block]	Government grants
Description of accounting policy for impairment of financial assets [text block]	Impairment
Description of accounting policy for impairment of non-financial assets [text block]	Impairment
Description of accounting policy for income tax [text block]	Income tax
Description of accounting policy for issued capital [text block]	Ordinary shares are stated at their nominal value. Consideration received for the shares sold in excess over their nominal value is shown as share premium. Incremental external costs directly attributable to the issue of new shares are accounted for as a deduction from share premium.
Description of accounting policy for leases [text block]	Leases
Description of accounting policy for measuring inventories [text block]	Inventories
Description of accounting policy for intangible assets and goodwill [text block]	Intangible assets
Description of accounting policy for interest income and expense [text block]	Finance income and costs
Description of accounting policy for offsetting of financial instruments [text block]	Offsetting financial assets and financial liabilities
Description of accounting policy for property, plant and equipment [text block]	Property, plant and equipment
Description of accounting policy for provisions [text block]	Provisions
Description of accounting policy for recognition of revenue [text block]	Revenue
Description of accounting policy for segment reporting [text block]	Segment information
Description of accounting policy for trade and other payables [text block]	Trade and other payables
Description of accounting policy for trade and other receivables [text block]	Trade receivables
Description of accounting policy for transactions with non-controlling interests [text block]	Non-controlling interest