{
  "url": "https://openlegislation.uk/eu-regulation-2004-2237/annex/appendix",
  "json_url": "https://openlegislation.uk/eu-regulation-2004-2237/annex/appendix.json",
  "legislation": "eur/2004/2237",
  "legislation_title": "Commission Regulation (EC) No 2237/2004 of 29 December 2004 amending Regulation (EC) No 1725/2003 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council, as regards IAS No 32 and IFRIC 1 (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2004-2237",
  "path": "annex/appendix",
  "kind": "appendix",
  "number": null,
  "heading": "Amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards",
  "text": "The amendments in this appendix shall be applied for annual periods beginning on or after 1 September 2004. If an entity applies this Interpretation for an earlier period, these amendments shall be applied for that earlier period.\nA1 IFRS 1 First-time Adoption of International Financial Reporting Standards and its accompanying documents are amended as described below.\nIn paragraph 12 of the IFRS, the reference to paragraphs 13-25D is changed to 13-25E.\nSubparagraphs 13(h) and (i) of the IFRS are amended, and subparagraph (j) is inserted, to read as follows:\n(h) share-based payment transactions (paragraphs 25B and 25C);\n(i) insurance contracts (paragraph 25D);\nand\n(j) decommissioning liabilities included in the cost of property, plant and equipment (paragraph 25E).\nIn the IFRS, a new heading and paragraph 25E are inserted, as follows:\nChanges in existing decommissioning, restoration and similar liabilities included in the cost of property, plant and equipment\n25E IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities requires specified changes in a decommissioning, restoration or similar liability to be added to or deducted from the cost of the asset to which it relates; the adjusted depreciable amount of the asset is then depreciated prospectively over its remaining useful life. A first-time adopter need not comply with these requirements for changes in such liabilities that occurred before the date of transition to IFRSs. If a first-time adopter uses this exemption, it shall:\n(a) measure the liability as at the date of transition to IFRSs in accordance with IAS 37;\n(b) to the extent that the liability is within the scope of IFRIC 1, estimate the amount that would have been included in the cost of the related asset when the liability first arose, by discounting the liability to that date using its best estimate of the historical risk-adjusted discount rate(s) that would have applied for that liability over the intervening period;\nand\n(c) calculate the accumulated depreciation on that amount, as at the date of transition to IFRSs, on the basis of the current estimate of the useful life of the asset, using the depreciation policy adopted by the entity under IFRSs.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2004/2237/annex/appendix",
    "retrieved_at": "2026-11-01T14:55:00.819419+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}