Version 24 - December 2025 (template release)

In May 2024, the NZASB issued NZ IFRS 18, which replaces NZ IAS 1 Presentation of Financial Statements. NZ IFRS 18 introduces new requirements for presentation within the statement of profit or loss, including specified totals and subtotals. Furthermore, entities are required to classify all income and expenses within the statement of profit or loss into one of five categories: operating, investing, financing, income taxes and discontinued operations, whereof the first three are new. The standard requires disclosure of newly defined management-defined performance measures, subtotals of income and expenses, and includes new requirements for aggregation and disaggregation of financial information based on the identified 'roles' of the primary financial statements (PFS) and the notes.

In June 2024, the NZASB issued Amendments to NZ IFRS 9 and NZ IFRS 7, Amendments to the Classification and Measurement of Financial Instruments (the Amendments). The Amendments include:

A clarification that a financial liability is derecognised on the 'settlement date' and the introduction of an accounting policy choice (if specific conditions are met) to derecognise financial liabilities settled using an electronic payment system before the settlement date.
Additional guidance on how the contractual cash flows for financial assets with environmental, social and corporate governance (ESG) and similar features should be assessed.
Clarifications on what constitute 'non-recourse features' and what are the characteristics of contractually linked instruments.
The introduction of disclosures for financial instruments with contingent features and additional disclosure requirements for equity instruments classified at fair value through other comprehensive income (OCI).

In May 2025, the NZASB issued Amendments to NZ IFRS 9 and NZ IFRS 7 - Contracts Referencing Nature-dependent Electricity. The amendments apply only to contracts that reference nature-dependent electricity; the amendments:

Clarify the application of the 'own-use' requirements for in-scope contracts.
Amend the designation requirements for a hedged item in a cash flow hedging relationship for in-scope contracts.
Add new disclosure requirements to enable investors to understand the effect of these contracts on a company's financial performance and cash flows.

The amendments concerning the own-use exception are to be applied retrospectively, while the hedge accounting amendments should be applied prospectively to new hedging relationships designated from the initial application date. Additionally, the NZ IFRS 7 disclosure amendments must be implemented alongside the NZ IFRS 9 amendments. If an entity does not restate comparative information, it cannot present comparative disclosures.

Have put all note linkages into note columns instead of in the line items. All note linkages are now stored in the dedicated "note" columns, rather than within individual line items.

Added expressions into the data grids for Statement of Comprehensive Income.

Added Analytical Report to the Report List that compares current period values with prior period values, including percentage differences across the Statement of Profit or loss, Statement of Cash flows and Statement of Financial Position. It has been verified and reviewed its functionality to ensure accuracy.

Coverage details till June 2026 is mentioned in the Cover page

Accounting Policies

Summary of Accounting Policies

Taxes

. Minor text updates regarding exemption to not report deferred taxes relating to Pillar Two income taxes. Minor text changes have been made to the note including the local legislative content New and amended standards and interpretations:

Lack of exchangeability – Amendments to NZ IAS 21

Local legislative content has been moved under GAAP Overlay folder for the below 2 notes

Auditor's remuneration
Imputation credits

Minor text updates notifying that no directors reported any personal interest matters that needed to be recorded during the year. The company has given directors (and subsidiary directors) legal indemnities and bought liability insurance for directors and officers, covering most third party claims but not criminal acts.

Have included the below standards in this note:

NZ IFRS 18 Presentation and Disclosure in Financial Statements
Amendments to the Classification and Measurement of Financial Instruments – Amendments to NZ IFRS 9 and NZ IFRS 7
Contracts Referencing Nature-dependent Electricity – Amendments to NZ IFRS 9 and NZ IFRS 7

Appendix 6 – Illustrative disclosure about Pillar Two taxes > Pillar Two Rules. Minor text updates explaining the OECD "Pillar Two" global minimum tax rules for multinationals.

Have added two new appendixes regarding Financial Guarantees & Convertible Financial Liabilities

For users wishing to update to 6.29 platform please note there is a known issue where even when elements are displayed as "Never", the report will still display the element.

Please be noted that deleting the original elements (such as paragraphs, tables, and so on) which have been reflected from the parent / root template should be cautious. The same logic applies to here for not changing existing column IDs as below. If the original elements have been deleted, we cannot save it back other than re-implementing it with the backup files. It will also lose any updates that will be made to the elements, i.e. the template will not get upgraded and synced perfectly with the latest draft template update, and also some functions, such as Revert to Template or Compare with Template will not be available neither – this is because once the original element is deleted, their own IDs become different to the draft/ parent template, so they cannot be compared). Therefore, please keep this in mind, especially when customisation needs to be done. Alternatively, if users do not want some part from the original elements, they can create a copy of it and build their customisation from there and display the unwanted original element to be Never, instead of deleting it.

For users' further references, please be noted that when you wish to change the naming of columns in grids, it can be done via Column à Rename feature. However, please do not change their existing IDs, otherwise, you will lose your current data and linking to it.