Disclosure Of Material Accounting Policy Information [Text Block]

Rokiskio Suris - Filing #5879244

Concept	2024-01-01 to 2024-12-31
Disclosure of material accounting policy information [text block]	2. Accounting policies
Description of accounting policy for borrowing costs [text block]	2.28 Finance costs
Description of accounting policy for borrowings [text block]	(e) Borrowings
Description of accounting policy for cash flows [text block]	Cash and cash equivalents are carried at AC because: (i) they are held for collection of contractual cash flows and those cash flows represent SPPI, and (ii) they are not designated at FVTPL. For the purposes of the cash flow statement, cash and cash equivalents comprise cash on hand and at bank and bank overdrafts.
Description of accounting policy for construction in progress [text block]	Construction in progress is transferred to appropriate group of property plant and equipment when it is completed and ready for its intended use.
Description of accounting policy for contingent liabilities and contingent assets [text block]	2.27 Contingent assets and liabilities
Description of accounting policy for deferred income tax [text block]	Deferred income tax is recognised using the liability method on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. Deferred tax liabilities are recognised on all temporary differences that will increase the taxable profit in future, whereas deferred tax assets are recognised to the extent it is probable that they will reduce the taxable profit in future. However the deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the balance sheet date and are expected to apply when the related deferred income tax asset is realised or the deferred income tax liability is settled.
Description of accounting policy for depreciation expense [text block]	Depreciation on property, plant and equipment is calculated using the straight-line method to allocate their cost to their residual values over their estimated useful lives.
Description of accounting policy for derecognition of financial instruments [text block]	(e) Derecognition of financial assets
Description of accounting policy for derivative financial instruments [text block]	2.25 Derivative financial instruments
Description of accounting policy for determining components of cash and cash equivalents [text block]	2.11 Cash and cash equivalents
Description of accounting policy for discounts and rebates [text block]	The goods are often sold with retrospective volume discounts based on aggregate sales over 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 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 (included in trade and other payables) is recognised for expected volume discounts payable to customers in relation to sales made until the end of the reporting period. No element of financing is deemed present as the sales mostly are made with a credit term of 30 days, which is consistent with market practice.
Description of accounting policy for dividends [text block]	2.19 Dividend distribution
Description of accounting policy for earnings per share [text block]	2.20 Earnings per share
Description of accounting policy for employee benefits [text block]	(a) Social security contributions
Description of accounting policy for environment related expense [text block]	35. Environmental, Social and Governance (ESG) matters - Consideration of climate change and resulting climate related risks
Description of accounting policy for expenses [text block]	2.18 Expense recognition
Description of accounting policy for fair value measurement [text block]	3.3 Fair value estimation
Description of accounting policy for finance income and costs [text block]	Interest income is recognised on a time-proportion basis using the effective interest method. When a receivable is impaired the Group reduces the carrying amount to its recoverable amount, being the estimated future cash flow discounted at original effective interest rate of the instrument, and continues unwinding the discount as interest income. Interest income on impaired loans is recognised using the original effective interest rate.
Description of accounting policy for financial assets [text block]	(a) Following the adoption of IFRS 9, Financial Instruments, the Group and the Company classifies its financial assets into the following 3 new categories:
Description of accounting policy for financial instruments at fair value through profit or loss [text block]	Financial assets at fair value through profit or loss
Description of accounting policy for financial liabilities [text block]	2.14 Financial liabilities
Description of accounting policy for functional currency [text block]	(a) Functional and presentation currency
Description of accounting policy for government grants [text block]	2.22 Government grants and subsidies
Description of accounting policy for impairment of financial assets [text block]	(d) Credit-impaired financial assets
Description of accounting policy for impairment of non-financial assets [text block]	2.7 Impairment of non-financial assets
Description of accounting policy for income tax [text block]	2.15 Current and deferred income tax
Description of accounting policy for issued capital [text block]	(a) Ordinary shares
Description of accounting policy for measuring inventories [text block]	2.9 Inventories
Description of accounting policy for intangible assets other than goodwill [text block]	(a) Computer software
Description of accounting policy for interest income and expense [text block]	(b) Effective interest method
Description of accounting policy for offsetting of financial instruments [text block]	(c) Offsetting financial instruments
Description of accounting policy for property, plant and equipment [text block]	2.5 Property, plant, and equipment
Description of accounting policy for provisions [text block]	2.23 Provisions
Description of accounting policy for recognition of revenue [text block]	2.17 Revenue recognition
Description of accounting policy for repairs and maintenance [text block]	Subsequent costs are included in the asset’s carrying amount or recognised as separate assets only when it is probable that future economic benefits associated with the item will flow to the Company or the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are charged to the income statement during the financial period in which they are incurred.
Description of accounting policy for segment reporting [text block]	2.21 Segment reporting
Description of accounting policy for subsidiaries [text block]	(a) Subsidiaries
Description of accounting policy for termination benefits [text block]	(b) Termination benefit
Description of accounting policy for trade and other payables [text block]	(d) Trade and other payables.
Description of accounting policy for trade and other receivables [text block]	Financial assets measured at amortised cost
Description of accounting policy for transactions with non-controlling interests [text block]	(b) Transactions and minority interest
Description of accounting policy for transactions with related parties [text block]	2.29 Transactions with related parties
Description of accounting policy for treasury shares [text block]	(b) Treasury shares