33. New and amended standards and interpretations
New and amended IFRS standards that are effective for the current year
In the current year, Vesteda has applied a number of amendments to IFRS Standards and Interpretations issued by the International Accounting Standards Board (IASB) – and endorsed by the European Union – that are effective for an annual period that begins on or after 1 January 2023. Vesteda did not adopt any new or amended standards issued but not yet effective.
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Amendments to IFRS 16 Leases: Lease Liability in a Sale and Leaseback [effective as per 01-01-2024];
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Amendments to IAS 1 Presentation of Financial Statements [effective as per 01-01-2024]:
Classification of Liabilities as Current or Non-current.
Classification of Liabilities as Current or Non-current - Deferral of Effective Date.
Non-current Liabilities with Covenants. -
Amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures: Supplier Finance Arrangements [effective as per 01-01-2024].
The impact of this standard had not material impact on the amounts reported.
New and revised IFRS Standards in issue but not yet effective
At the date of authorization of these financial statements, Vesteda has not applied the following new and revised IFRS Standards that have been issued but are not yet effective and (in some cases) had not yet been adopted by the EU.
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Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability [effective as per 01-01-2025];
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Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7) [not yet adopted by EU];
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Annual Improvements Volume 11 [not yet adopted by EU];
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Contracts Referencing Nature-dependent Electricity Amendments to IFRS 9 and IFRS 7[not yet adopted by EU];
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IFRS 19 Subsidiaries without Public Accountability: Disclosures [not yet adopted by EU];
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IFRS 18 Presentation and Disclosure in Financial Statements [not yet adopted by EU].
Vesteda does not expect that the adoption of the Standards listed above will have a material impact on the financial statements of the Group in future periods.