XML 171 R24.htm IDEA: XBRL DOCUMENT v3.26.1
Financial Instruments
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Financial Instruments [Abstract]    
Financial Instruments
17. Financial Instruments

 

Determination of Fair Values

 

IFRS 13, Fair Value Measurement, establishes a fair value hierarchy that reflects the significance of the inputs used in measuring fair value. The fair value hierarchy has the following levels:

 

  Level 1 - Quoted prices in active markets for identical assets or liabilities;

 

  Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable;

 

  Level 3 - Unobservable inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the assumptions market participants would use in pricing.

A number of the Company’s accounting policies and disclosures require the determination of fair value, for both financial and non-financial assets and liabilities. Fair values have been determined for measurement and/or disclosure purposes based on the following models. When applicable, further information about the assumptions made in determining fair values is disclosed in the notes specific to that asset or liability.

 

The following is a comparison by class of the carrying amounts and fair value of the Company’s financial instruments as at June 30, 2025 and December 31, 2024:

 

      June 30, 2025   December 31, 2024 
Financial assets  Level  Carrying amount   Fair value   Carrying amount   Fair value 
      $   $   $   $ 
Financial assets measured at amortised cost:                   
Cash and cash held in trust  1   2,529,535    2,529,535    3,841,866    3,841,866 
Trade and other receivables  2   4,097    4,097    370,537    370,537 
Loan receivable  2   990,688    990,688    955,022    955,022 

 

      June 30, 2025   December 31, 2024 
Financial liabilities  Level  Carrying amount   Fair value   Carrying amount   Fair value 
      $   $   $   $ 
Financial liabilities measure at amortised cost:                   
Trade and other payables  2   2,204,803    2,204,803    2,982,499    2,982,499 
Loans and borrowings  2   184,285    184,285    352,814    352,814 
Lease liabilities  2   206,956    206,956    
-
    
-
 
Due to related parties  2   317,784    317,784    302,232    302,232 
18.Financial Instruments

 

Determination of Fair Values

 

IFRS 13, Fair Value Measurement, establishes a fair value hierarchy that reflects the significance of the inputs used in measuring fair value. The fair value hierarchy has the following levels:

 

Level 1 - Quoted prices in active markets for identical assets or liabilities;

 

Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable;

 

Level 3 - Unobservable inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the assumptions market participants would use in pricing.

 

A number of the Company’s accounting policies and disclosures require the determination of fair value, for both financial and non-financial assets and liabilities. Fair values have been determined for measurement and/or disclosure purposes based on the following models. When applicable, further information about the assumptions made in determining fair values is disclosed in the notes specific to that asset or liability.

 

The following is a comparison by class of the carrying amounts and fair value of the Company’s financial instruments as at December 31, 2024 and 2023:

 

      December 31, 2024   December 31, 2023 
   Level  Carrying
amount		   Fair
value		   Carrying
amount		   Fair
value		 
Financial assets                   
Financial assets measured at amortised cost:                   
Cash and cash held in trust  1   3,841,866    3,841,866    93,875    93,875 
Trade and other receivables  2   370,537    370,537    284,513    284,513 
Loan receivable  2   955,022    955,022    593,232    593,232 
                        
Financial liabilities                       
Financial liabilities measure at amortised cost:                       
Trade and other payables  2   2,982,499    2,982,499    6,014,572    6,014,572 
Loans and borrowings  2   352,814    352,814    3,863,454    3,863,454 
Holdback payable  2   
-
    
-
    400,000    400,000 
Lease liabilities  2   
-
    
-
    135,337    135,337 
Due to related parties  2   302,232    302,232    2,255,522    2,255,522