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Leases | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Leases |
Note 11: | Leases
| a. | Lease Agreements:
The Company's offices and its production facility in Israel are located in a building that the Company leased from its Related party (see Note 24a), in accordance with a sub-lease agreement. The Company subleased approximately 3,000 square meters of laboratory, office and clean rooms space at a monthly rent fee NIS 125 (approximately $35). This sub-lease agreement was amended in October 2021, to extend the period up to October 2025 which was included in the calculation of the lease liability and RoU asset. In July 2023, the company signed a termination agreement for the sub-lease agreement and signed on a new lease agreement for the same area of approximately 3,000 square meters in the same building with the owner of the building at a monthly rent fee of NIS 195 (approximately $54). The lease agreement is for 12 years with an option for an additional 3 years. The company estimation is to use the 3 years option In addition, the Company and its subsidiary have lease agreements for 16 vehicles for the remaining period of 1.75 years on average.
| b. | Amounts recognized in profit or loss and in the statement of cash flows
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |
Interest expense on lease liabilities |  |  | 274 |  |  |  | 102 |
Depreciation expenses |  |  | 565 |  |  |  | 537 |
Cash outflow for leases |  |  | 778 |  |  |  | 701 |
The Company determined the appropriate interest rate for discounting leases, with the assistance of a third party. The valuation was based on: credit risk, the weighted average term of the leases and other economic variables. A weighted average interest rate in a range of 1% to 8.47% was used to discount future lease payments in the calculation of the lease liability on the date of initial application of the standard (IFRS 16).
| c. | Disclosures in respect of Right- of- Use assets:
|  | Buildings |  |  | Motor vehicles |  |  | Total |
Cost |  |  |  |  |  |  |  |  |
Balance as of January 1, 2023 |  |  | 2,341 |  |  |  | 550 |  |  |  | 2,891 |
New leases |  |  | 6,460 |  |  |  | 407 |  |  |  | 6,867 |
Adjustments for indexation |  |  | 78 |  |  |  | 3 |  |  |  | 81 |
Disposals |  |  | (2,368 | ) |  |  | (308 | ) |  |  | (2,676 | )
Balance as of December 31, 2023 |  |  | 6,511 |  |  |  | 652 |  |  |  | 7,163 |
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |  |
Balance as of January 1, 2023 |  |  | 1,342 |  |  |  | 334 |  |  |  | 1,676 |
Depreciation and amortization |  |  | 334 |  |  |  | 231 |  |  |  | 565 |
Capitalized to Leasehold improvements |  |  | 59 |  |  |  | - |  |  |  | 59 |
Disposals |  |  | (1,527 | ) |  |  | (308 | ) |  |  | (1,835 | )
Balance as of December 31, 2023 |  |  | 208 |  |  |  | 257 |  |  |  | 465 |
Depreciated cost |  |  |  |  |  |  |  |  |  |  |  |
Balance as of December 31, 2023 |  |  | 6,303 |  |  |  | 395 |  |  |  | 6,698 |
|  | Buildings |  |  | Motor vehicles |  |  | Total |
Cost |  |  |  |  |  |  |  |  |
Balance as of January 1, 2022 |  |  | 2,267 |  |  |  | 654 |  |  |  | 2,921 |
New leases |  |  | - |  |  |  | 125 |  |  |  | 125 |
Adjustments for indexation |  |  | 74 |  |  |  | 9 |  |  |  | 83 |
Disposals |  |  | - |  |  |  | (238 | ) |  |  | (238 | )
Balance as of December 31, 2022 |  |  | 2,341 |  |  |  | 550 |  |  |  | 2,891 |
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |  |
Balance as of January 1, 2022 |  |  | 1,028 |  |  |  | 345 |  |  |  | 1,373 |
Depreciation and amortization |  |  | 314 |  |  |  | 225 |  |  |  | 539 |
Disposals |  |  | - |  |  |  | (236 | ) |  |  | (236 | )
Balance as of December 31, 2022 |  |  | 1,342 |  |  |  | 334 |  |  |  | 1,676 |
Depreciated cost |  |  |  |  |  |  |  |  |  |  |  |
Balance as of December 31, 2022 |  |  | 999 |  |  |  | 216 |  |  |  | 1,215 |
| d. | Disclosures of the Company's lease liabilities:
|  | Buildings |  |  | Motor vehicles |  |  | Total |
Balance as of January 1, 2023 |  |  | 1,199 |  |  |  | 179 |  |  |  | 1,378 |
Repayment of leases liabilities |  |  | (588 | ) |  |  | (190 | ) |  |  | (778 | )
Effect of changes in exchange rates |  |  | (19 | ) |  |  | 2 |  |  |  | (17 | )
New finance lease obligation recognized |  |  | 6,460 |  |  |  | 365 |  |  |  | 6,825 |
Adjustments for indexation |  |  | 78 |  |  |  | 3 |  |  |  | 81 |
Financial expenses |  |  | 257 |  |  |  | 17 |  |  |  | 274 |
Disposals-Termination of leases |  |  | (1,041 | ) |  |  | (11 | ) |  |  | (1,052 | )
Balance as of December 31, 2023 |  |  | 6,346 |  |  |  | 365 |  |  |  | 6,711 |
Current maturities of long-term leases |  |  | (180 | ) |  |  | (181 | ) |  |  | (361 | )
Lease liability Balance as of December 31, 2023 |  |  | 6,166 |  |  |  | 184 |  |  |  | 6,350 |
|  | Buildings |  |  | Motor vehicles |  |  | Total |
Balance as of January 1, 2022 |  |  | 1,691 |  |  |  | 299 |  |  |  | 1,990 |
Repayment of leases liabilities |  |  | (477 | ) |  |  | (224 | ) |  |  | (701 | )
Effect of changes in exchange rates |  |  | (182 | ) |  |  | (28 | ) |  |  | (210 | )
New finance lease obligation recognized |  |  | - |  |  |  | 117 |  |  |  | 117 |
Adjustments for indexation |  |  | 74 |  |  |  | 9 |  |  |  | 83 |
Financial expenses |  |  | 93 |  |  |  | 8 |  |  |  | 101 |
Disposals-Termination of leases |  |  | - |  |  |  | (2 | ) |  |  | (2 | )
Balance as of December 31, 2022 |  |  | 1,199 |  |  |  | 179 |  |  |  | 1,378 |
Current maturities of long-term leases |  |  | (399 | ) |  |  | (133 | ) |  |  | (532 | )
Lease liability Balance as of December 31, 2022 |  |  | 800 |  |  |  | 46 |  |  |  | 846 |

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- Definition The entire disclosure for leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Section Presentation -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IFRS16_g47-50_TI -URIDate 2023-03-23 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IFRS16_g51-60_TI -URIDate 2023-03-23 + Details
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- References No definition available. + Details
Name: | mdwd_LeasesAbstract
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