Rangatira Annual Report 2025 - Flipbook - Page 42
Rangatira Investments
As the Company has concluded that it can apply this exemption after 30 September 2024, these financial
statements continue to equity account the Company’s investments in associate companies up to 30 September
2024. As of that date, those investments were derecognised, and recognised as investments at fair value at 30
September 2024.
Further details on the financial impact of the change and previous accounting basis for the investment in
associates is provided in note 19.2.
Consolidated financial statements (up to 30 September 2024)
These financial statements include consolidated information for the Company and its controlled entities from 1
April 2024 to 30 September 2024, prior to the Company’s investment entity status conclusion.
Further details around the Company’s basis of consolidation is provided in note 19.1.
Presentation and reclassification of comparative information
The Company has changed the presentation of its financial statements to better align with the investment entity
status change. The main change is the reclassification of certain financial assets into the new Investments line.
Comparatives were also reclassified but there were no remeasurements as part of this change.
Details of investments are to be found in Note 8.
Summary of significant accounting policies
Accounting policies that summarise the measurement basis used and are relevant to the understanding of the
financial statements are provided throughout the accompanying notes. Accounting policies that do not relate to a
specific note are outlined below. Apart from the above disclosed changes, there have been no other changes to
accounting policies.
Standards and pronouncements issued and not yet effective that have not been early adopted
In May 2024, the XRB introduced NZ IFRS 18 Presentation and Disclosure in Financial Statements (NZ IFRS 18)
(effective for annual reporting periods beginning on or after 1 January 2027). This standard replaces NZ IAS 1
Presentation of Financial Statements (NZ IAS 1) and primarily introduces a defined structure for the statement
of comprehensive income, disclosure of management-defined performance measures (a subset of non-GAAP
measures) in a single note together with reconciliation requirements and additional guidance on aggregation and
disaggregation principles in the financial statements. The Company has not early adopted NZ IFRS 18 and is yet
to assess its impacts.
Accounting estimates and judgements
The preparation of these financial statements required the Company’s Board of Directors and management to
make judgements, estimates and assumptions which affect the application of the accounting policies and the
reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.
Estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised
in the period in which the estimate is revised and in any future periods affected.
Significant assumptions and estimates - key sources of estimation uncertainty
The following are the key assumptions concerning the future, and other key sources of estimation uncertainty
at the end of the reporting period, that have a significant risk of causing material adjustment of the carrying
amounts of assets and liabilities within the next year:
• Determination of fair value of investments
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- see Note 8.2
