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"f19453": { "value": "690000", "decimals": -3, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f19458": { "value": "225065000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f19461": { "value": "75721000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00", "unit": "iso4217:NOK" } }, "s7_notes__6__14": { "value": "NOTE 1 | GENERAL INFORMATIONKid ASA and its subsidiaries (together, `the group') sell interior products through wholly owned stores. The group have 157 stores in Norway under the brand name Kid. Hemtex has 116 stores in Sweden, 7 in Finland and 7 in Estonia. Out of the 130 Hemtex stores, 115 is owned by Hemtex and 11 is operated through franchise. The group also have online stores, under both Kid and Hemtex. The domicile of the group is Lier, Norway.Group's head office is at Gilhusveien 1, 3426 Gullaug.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__10-1": { "value": "Kid ASAKID ASA", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__9-1": { "value": "Kid ASAKID ASA", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__8": { "value": "Kid ASA", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__5": { "value": "ASA", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__6": { "value": "sell interior products through wholly owned stores", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__11": { "value": "Norway", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__7": { "value": "Norway", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__12": { "value": "Lier, Norway", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__13": { "value": "Gilhusveien 1, 3426 Gullaug", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__15": { "value": "NOTE 2 | SUMMARY OF MATERIAL ACCOUNTING POLICIESThe principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.2.1 Basis of preparationThe consolidated financial statements of Kid ASA have been prepared in accordance with IFRS\u00ae Accounting Standards as adopted by the EUs (IFRS) and IFRS Interpretations Committee (IFRS IC) interpretations as adopted by the European Union and the Norwegian Companies Act 1998 applicable to companies reporting under IFRS. The consolidated financial statements have been prepared under the historical cost convention, as modified by the revaluation of financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss. The accounts were approved and authorized for issue by the Board 16 April 2024.The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the group's accounting policies. The areas involving a higher degree of judgement or complexity or where the assumptions and estimates are significant for the consolidated financial statements are disclosed in note 5.2.1.1 New and amended standards adopted by the GroupThere are no new or amended standards adopted by the Group during the year with impact on the amounts recognised in prior periods or that would significantly affect the current or future periods.2.1.2 Standards issued but not yet effectiveSeveral amended standards and interpretations are effective for annual periods beginning after January 1. The group has not early adopted any new or amended standards and they are not expected to have a significant impact on the group's consolidated financial statements.2.2 Consolidation and equity accountingSubsidiaries are all entities over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. Further information on entities included in the consolidated financial statements is presented in note 8.Interests in joint ventures are accounted for using the equity method, after initially being recognised at cost in the consolidated balance sheet. Under the equity method of accounting, the investments are initially recognised at cost and adjusted thereafter to recognise the group\u2019s share of the post-acquisition profits or losses of the investee in profit or loss, and the group\u2019s share of movements in other comprehensive income of the investee in other comprehensive income. Dividends received or receivable from associates and joint ventures are recognised as a reduction in the carrying amount of the investment. Unrealised gains on transactions between the group and its associates and joint ventures are eliminated to the extent of the group\u2019s interest in these entities. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.Accounting policies of equity-accounted investees have been changed where necessary to ensure consistency with the policies adopted by the group. The carrying amount of equity-accounted investments is tested for impairment. Further information on joint ventures is presented in note 8. 2.3 Foreign currency translation(a) Functional and presentation currencyEach entity in the group determines its functional currency based on the economic environment in which it operates, anditems included in the financial statements of each entity are measured using that functional currency. The major operating entities in the group has NOK and SEK as functional currency. When preparing the financial statements of each individualgroup entity, transactions in currencies other than the entity's functional currency are recognised in the functional currency, using the transaction date\u2019s currency rate. The consolidated financial statements are presented in NOK.(b) Transactions and balancesForeign currency transactions are translated into the functional currency using the exchange rates prevailing at the datesof the transactions or valuation where items are re-measured. Foreign exchange gains and losses resulting from thesettlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilitiesdenominated in foreign currencies are recognised in the income statement, except when deferred in other comprehensiveincome as qualifying cash flow hedges and qualifying net investment hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the income statement within 'finance income or costs'.", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__16": { "value": "2.1 Basis of preparationThe consolidated financial statements of Kid ASA have been prepared in accordance with IFRS\u00ae Accounting Standards as adopted by the EUs (IFRS) and IFRS Interpretations Committee (IFRS IC) interpretations as adopted by the European Union and the Norwegian Companies Act 1998 applicable to companies reporting under IFRS. The consolidated financial statements have been prepared under the historical cost convention, as modified by the revaluation of financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss. The accounts were approved and authorized for issue by the Board 16 April 2024.The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the group's accounting policies. The areas involving a higher degree of judgement or complexity or where the assumptions and estimates are significant for the consolidated financial statements are disclosed in note 5.2.1.1 New and amended standards adopted by the GroupThere are no new or amended standards adopted by the Group during the year with impact on the amounts recognised in prior periods or that would significantly affect the current or future periods.2.1.2 Standards issued but not yet effectiveSeveral amended standards and interpretations are effective for annual periods beginning after January 1. The group has not early adopted any new or amended standards and they are not expected to have a significant impact on the group's consolidated financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__17": { "value": "The accounts were approved and authorized for issue by the Board 16 April 2024.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__18": { "value": "The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the group's accounting policies. The areas involving a higher degree of judgement or complexity or where the assumptions and estimates are significant for the consolidated financial statements are disclosed in note 5.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__19-1": { "value": "2.1.1 New and amended standards adopted by the GroupThere are no new or amended standards adopted by the Group during the year with impact on the amounts recognised in prior periods or that would significantly affect the current or future periods.2.1.2 Standards issued but not yet effectiveSeveral amended standards and interpretations are effective for annual periods beginning after January 1. The group has not early adopted any new or amended standards and they are not expected to have a significant impact on the group's consolidated financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__26": { "value": "2.2 Consolidation and equity accountingSubsidiaries are all entities over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. Further information on entities included in the consolidated financial statements is presented in note 8.Interests in joint ventures are accounted for using the equity method, after initially being recognised at cost in the consolidated balance sheet. Under the equity method of accounting, the investments are initially recognised at cost and adjusted thereafter to recognise the group\u2019s share of the post-acquisition profits or losses of the investee in profit or loss, and the group\u2019s share of movements in other comprehensive income of the investee in other comprehensive income. Dividends received or receivable from associates and joint ventures are recognised as a reduction in the carrying amount of the investment. Unrealised gains on transactions between the group and its associates and joint ventures are eliminated to the extent of the group\u2019s interest in these entities. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.Accounting policies of equity-accounted investees have been changed where necessary to ensure consistency with the policies adopted by the group. The carrying amount of equity-accounted investments is tested for impairment. Further information on joint ventures is presented in note 8.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__25": { "value": "2.2 Consolidation and equity accountingSubsidiaries are all entities over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. Further information on entities included in the consolidated financial statements is presented in note 8.Interests in joint ventures are accounted for using the equity method, after initially being recognised at cost in the consolidated balance sheet. Under the equity method of accounting, the investments are initially recognised at cost and adjusted thereafter to recognise the group\u2019s share of the post-acquisition profits or losses of the investee in profit or loss, and the group\u2019s share of movements in other comprehensive income of the investee in other comprehensive income. Dividends received or receivable from associates and joint ventures are recognised as a reduction in the carrying amount of the investment. Unrealised gains on transactions between the group and its associates and joint ventures are eliminated to the extent of the group\u2019s interest in these entities. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.Accounting policies of equity-accounted investees have been changed where necessary to ensure consistency with the policies adopted by the group. The carrying amount of equity-accounted investments is tested for impairment. Further information on joint ventures is presented in note 8.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__24": { "value": "2.2 Consolidation and equity accountingSubsidiaries are all entities over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. Further information on entities included in the consolidated financial statements is presented in note 8.Interests in joint ventures are accounted for using the equity method, after initially being recognised at cost in the consolidated balance sheet. Under the equity method of accounting, the investments are initially recognised at cost and adjusted thereafter to recognise the group\u2019s share of the post-acquisition profits or losses of the investee in profit or loss, and the group\u2019s share of movements in other comprehensive income of the investee in other comprehensive income. Dividends received or receivable from associates and joint ventures are recognised as a reduction in the carrying amount of the investment. Unrealised gains on transactions between the group and its associates and joint ventures are eliminated to the extent of the group\u2019s interest in these entities. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.Accounting policies of equity-accounted investees have been changed where necessary to ensure consistency with the policies adopted by the group. The carrying amount of equity-accounted investments is tested for impairment. Further information on joint ventures is presented in note 8.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__23": { "value": "2.2 Consolidation and equity accountingSubsidiaries are all entities over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. Further information on entities included in the consolidated financial statements is presented in note 8.Interests in joint ventures are accounted for using the equity method, after initially being recognised at cost in the consolidated balance sheet. Under the equity method of accounting, the investments are initially recognised at cost and adjusted thereafter to recognise the group\u2019s share of the post-acquisition profits or losses of the investee in profit or loss, and the group\u2019s share of movements in other comprehensive income of the investee in other comprehensive income. Dividends received or receivable from associates and joint ventures are recognised as a reduction in the carrying amount of the investment. Unrealised gains on transactions between the group and its associates and joint ventures are eliminated to the extent of the group\u2019s interest in these entities. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.Accounting policies of equity-accounted investees have been changed where necessary to ensure consistency with the policies adopted by the group. The carrying amount of equity-accounted investments is tested for impairment. Further information on joint ventures is presented in note 8.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__22": { "value": "2.2 Consolidation and equity accountingSubsidiaries are all entities over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. Further information on entities included in the consolidated financial statements is presented in note 8.Interests in joint ventures are accounted for using the equity method, after initially being recognised at cost in the consolidated balance sheet. Under the equity method of accounting, the investments are initially recognised at cost and adjusted thereafter to recognise the group\u2019s share of the post-acquisition profits or losses of the investee in profit or loss, and the group\u2019s share of movements in other comprehensive income of the investee in other comprehensive income. Dividends received or receivable from associates and joint ventures are recognised as a reduction in the carrying amount of the investment. Unrealised gains on transactions between the group and its associates and joint ventures are eliminated to the extent of the group\u2019s interest in these entities. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.Accounting policies of equity-accounted investees have been changed where necessary to ensure consistency with the policies adopted by the group. The carrying amount of equity-accounted investments is tested for impairment. Further information on joint ventures is presented in note 8.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__21": { "value": "2.2 Consolidation and equity accountingSubsidiaries are all entities over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. Further information on entities included in the consolidated financial statements is presented in note 8.Interests in joint ventures are accounted for using the equity method, after initially being recognised at cost in the consolidated balance sheet. Under the equity method of accounting, the investments are initially recognised at cost and adjusted thereafter to recognise the group\u2019s share of the post-acquisition profits or losses of the investee in profit or loss, and the group\u2019s share of movements in other comprehensive income of the investee in other comprehensive income. Dividends received or receivable from associates and joint ventures are recognised as a reduction in the carrying amount of the investment. Unrealised gains on transactions between the group and its associates and joint ventures are eliminated to the extent of the group\u2019s interest in these entities. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.Accounting policies of equity-accounted investees have been changed where necessary to ensure consistency with the policies adopted by the group. The carrying amount of equity-accounted investments is tested for impairment. Further information on joint ventures is presented in note 8.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__28": { "value": "2.3 Foreign currency translation(a) Functional and presentation currencyEach entity in the group determines its functional currency based on the economic environment in which it operates, anditems included in the financial statements of each entity are measured using that functional currency. The major operating entities in the group has NOK and SEK as functional currency. When preparing the financial statements of each individualgroup entity, transactions in currencies other than the entity's functional currency are recognised in the functional currency, using the transaction date\u2019s currency rate. The consolidated financial statements are presented in NOK.(b) Transactions and balancesForeign currency transactions are translated into the functional currency using the exchange rates prevailing at the datesof the transactions or valuation where items are re-measured. Foreign exchange gains and losses resulting from thesettlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilitiesdenominated in foreign currencies are recognised in the income statement, except when deferred in other comprehensiveincome as qualifying cash flow hedges and qualifying net investment hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the income statement within 'finance income or costs'.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__27": { "value": "2.3 Foreign currency translation(a) Functional and presentation currencyEach entity in the group determines its functional currency based on the economic environment in which it operates, anditems included in the financial statements of each entity are measured using that functional currency. The major operating entities in the group has NOK and SEK as functional currency. When preparing the financial statements of each individualgroup entity, transactions in currencies other than the entity's functional currency are recognised in the functional currency, using the transaction date\u2019s currency rate. The consolidated financial statements are presented in NOK.(b) Transactions and balancesForeign currency transactions are translated into the functional currency using the exchange rates prevailing at the datesof the transactions or valuation where items are re-measured. Foreign exchange gains and losses resulting from thesettlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilitiesdenominated in foreign currencies are recognised in the income statement, except when deferred in other comprehensiveincome as qualifying cash flow hedges and qualifying net investment hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the income statement within 'finance income or costs'.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__29": { "value": "NOTE 3 | FINANCIAL RISK MANAGEMENT3.1 Financial risk factorsThe group\u2019s activities expose it to a variety of financial risks: market risk (including currency risk and cash flow interest rate risk), credit risk and liquidity risk. The group\u2019s overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the group\u2019s financial performance. The group uses derivative financial instruments to hedge certain risk exposures. The company applies hedge accounting in accordance with IFRS 9. The group\u2019s risk management is predominantly controlled by a central finance department under policies approved by the board of directors. Group Finance identifies, evaluates and hedges financial risks in close cooperation with the group\u2019s operating units in KID and Hemtex. The board provides written principles for overall risk management, as well as policies covering specific areas, such as foreign exchange risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments, and investment of excess liquidity. (a) Market risk(i) Foreign exchange riskExposures to currency exchange rates arise from the group's international purchases, which are primarily denominated in USD. The group uses foreign currency derivative contracts to hedge foreign exchange risk which are recorded at fair valueover OCI.At 31. December 2023, the group had forward contracts for 100% of the anticipated USD cash flow for a period of 11 months. The Group has adopted IFRS 9 and uses hedge accounting, see note 22 for further information. The following table illustrates the sensitivity on the company's financial instruments of a 10% change in USD against the Norwegian and Swedish kroner based on the year-end fair value of the instruments with all other variables (e.g. changes of prices on products sold) held constant. Due to the Groups hedging strategy, the change in fair value on unrealized forward contracts are recognised through OCI, and any gain/loss in P&L upon realization is offset against currency effects on the the hedged object. Se note 22 for more information.At 31 December 2023 +10% change -10% changeEffect on OCI (FX derivatives NOK/USD) 41,196 -41,196Effect on OCI (FX derivatives SEK/USD) 24,103 -24,103At 31 December 2022 +10% change -10% changeEffect on OCI (FX derivatives NOK/USD) 40,109 -40,109Effect on OCI (FX derivatives SEK/USD) 21,637 -21,637(ii) Interest riskThe group's interest rate risk arises from long-term borrowings and bank deposits. Borrowings issued at variable ratesexpose the group to cash flow interest rate risk which is partially offset by cash held at variable rates and hedging contracts. As NIBOR and STIBOR will not be replaced in the near future, we have considered that the Group is not effected by the IBOR-reform as per 31 December 2023. The company is also subject to interest rate risk related to short term bank overdraftdrawn during the financial year. Borrowings at variable rates expose the Group to cash flow interest rate risk. Fixed-interest contracts are used to reduce this risk.The following tables illustrate the sensitivity on the company's financial instruments of a +/- 1% change in interest based on the year-end fair value of the instruments with all other variables held constant with the effect over OCI. Due to the Groups hedging strategy, the change in fair value on unrealized interest contracts are recognised through OCI, and any gain/loss in P&L upon realization is offset against interest effects on the the hedged object. Se note 22 for more information.The sensitivity of the unhedged part of the long term loan is presented illustrating a +/- 1% change in interest based on the floating interest rate at year end and the outstanding unhedged part of the loan. Interest SWAPAt 31 December 2023 +1% change -1% changeEffect on OCI 7,787 -7,787At 31 December 2022 +1% change -1% changeEffect on OCI 15,847 -15,847Cross currency interest swapAt 31 December 2023 +1% change -1% changeEffect on interest cost 226 -226At 31 December 2022 +1% change -1% changeEffect on interest cost 10,064 -10,064Unhedged part of interest bearing loansAt 31 December 2023 +1% change -1% changeEffect on interest cost 817 -817At 31 December 2022 +1% change -1% changeEffect on interest cost 1,016 -1,016(b) Credit riskThe group's turnover comes mainly from cash sales or debit/credit card based sales where settlement in cash takes placewithin a few days of the sales transaction. As such, the group has limited exposure to credit risk relating to accountsreceivable balances. Credit risk also arises from derivative financial instruments and deposits with banks and financialinstitutions. However, counterparts are limited to financial institutions with high creditworthiness. Historically, default andlosses related to credit risk have been low.(c) Liquidity riskLiquidity risk is the risk that the group will not be able to meet its financial obligations as they fall due. The group has capital-intensive inventory in central warehouse and stores and has fluctuations related to working capital due to seasonality andthe timing of the deliveries and payments.Cash flow forecasting is performed in the operating entities of the group and aggregated by group finance. Group finance monitors rolling forecasts of the group's liquidity requirements to ensure it has sufficient cash to meet operational needs while maintaining sufficient headroom on its undrawn committed loan facilities (note 18) at all times so that the group does not breach borrowing limits or covenants (where applicable) on any of its borrowing facilities. Such forecasting takes into consideration the group's debt financing plans, covenant compliance and compliance with internal balance sheet ratio targets.Surplus cash is used to pay out dividends and reduce long term borrowingsThe table below analyses the group's non-derivative financial liabilities and net-settled derivative financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows.Between Between Between Less than 1 and 2 2 and 3 3 and 4 Over 4 At 31 December 20231 yearyearsyearsyearsyearsBorrowings (ex finance lease liabilities) 39,505 38,942 466,171 - - Lease liabilities 315,610 256,375 202,199 147,874 358,319 Trade and other payables 395,001 - - - - 750,116 295,317 668,370 147,874 358,319Less thanBetween 1 Between 2 Between 3 Over 4 At 31 December 20221 yearand 2 yearsand 3 yearsand 4 yearsyearsBorrowings (ex finance lease liabilities) 40,067 39,505 38,942 465,042 - Lease liabilities 273,020 212,366 153,213 106,496 126,741 Trade and other payables 324,275 - - - - 721,258 245,063 187,627 133,368 503,625Loans consist of one long term loan to Nordea refinanced during the year. Refer to note 18 for information on the external loan. 3.2 Capital managementThe group's objectives when managing capital are to safeguard the group's ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital.In order to maintain or adjust the capital structure, the group may adjust the amount of dividends paid to shareholders, return capital to shareholders, reduce excess loan repayments, exploit available credit facilities or sell financial assets. Kid's dividend policy is a pay-out ratio of 80-100% of adjusted net profit, with semi-annual payments. The company will deploy a dynamic distribution policy, and any excess capital will be returned to shareholders.The group monitors capital on the basis of the gearing ratio. This ratio is calculated as net interest bearing debt divided by EBITDA. Net interest bearing debt is calculated as total borrowings (including `current and non-current borrowings' as shown in the consolidated balance sheet excluded financial derivatives) less cash and cash equivalents. EBITDA is calculated as earnings before interest, tax, depreciation and amortisation.The gearing ratios at 31 December 2023 and 2022 were as follows:2023 2022Total external borrowings (note 18) 521,661 551,646Less: cash and cash equivalents (note 16) (225,065) (75,721)Net interest bearing debt 296,596 475,925EBITDA excl. IFRS 16 544,910 426,204Gearing ratio 0.54 1.12 The Group has covenants limits related to NIBD and EBITDA. For more information about covenant-limits, refer note 18.The board of directors has proposed a dividend of NOK 3.50 per share to be paid in May 2024. Including the prepayment of NOK 2.75 per share paid in December 2023, the total dividend of NOK 6.25 represents 81% of Group net income for 2023.3.3 Fair value estimationThe Group has financial instruments carried at fair value. The different levels have been defined as follows: \u2022 Quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1).\u2022\ue61f\ue61f\ue61fInputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (Level 2).\u2022 Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (Level 3)The financial instruments carried at fair value relates to derivative instruments. These instruments are included in level 2. Refer to note 23 for further information on derivative instruments. Assets and liabilities carried at amortized cost is considered a fair estimate to fair value.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__30": { "value": "(a) Market risk(i) Foreign exchange riskExposures to currency exchange rates arise from the group's international purchases, which are primarily denominated in USD. The group uses foreign currency derivative contracts to hedge foreign exchange risk which are recorded at fair valueover OCI.At 31. December 2023, the group had forward contracts for 100% of the anticipated USD cash flow for a period of 11 months. The Group has adopted IFRS 9 and uses hedge accounting, see note 22 for further information. The following table illustrates the sensitivity on the company's financial instruments of a 10% change in USD against the Norwegian and Swedish kroner based on the year-end fair value of the instruments with all other variables (e.g. changes of prices on products sold) held constant. Due to the Groups hedging strategy, the change in fair value on unrealized forward contracts are recognised through OCI, and any gain/loss in P&L upon realization is offset against currency effects on the the hedged object. Se note 22 for more information.At 31 December 2023 +10% change -10% changeEffect on OCI (FX derivatives NOK/USD) 41,196 -41,196Effect on OCI (FX derivatives SEK/USD) 24,103 -24,103At 31 December 2022 +10% change -10% changeEffect on OCI (FX derivatives NOK/USD) 40,109 -40,109Effect on OCI (FX derivatives SEK/USD) 21,637 -21,637(ii) Interest riskThe group's interest rate risk arises from long-term borrowings and bank deposits. Borrowings issued at variable ratesexpose the group to cash flow interest rate risk which is partially offset by cash held at variable rates and hedging contracts. As NIBOR and STIBOR will not be replaced in the near future, we have considered that the Group is not effected by the IBOR-reform as per 31 December 2023. The company is also subject to interest rate risk related to short term bank overdraftdrawn during the financial year. Borrowings at variable rates expose the Group to cash flow interest rate risk. Fixed-interest contracts are used to reduce this risk.The following tables illustrate the sensitivity on the company's financial instruments of a +/- 1% change in interest based on the year-end fair value of the instruments with all other variables held constant with the effect over OCI. Due to the Groups hedging strategy, the change in fair value on unrealized interest contracts are recognised through OCI, and any gain/loss in P&L upon realization is offset against interest effects on the the hedged object. Se note 22 for more information.The sensitivity of the unhedged part of the long term loan is presented illustrating a +/- 1% change in interest based on the floating interest rate at year end and the outstanding unhedged part of the loan. Interest SWAPAt 31 December 2023 +1% change -1% changeEffect on OCI 7,787 -7,787At 31 December 2022 +1% change -1% changeEffect on OCI 15,847 -15,847Cross currency interest swapAt 31 December 2023 +1% change -1% changeEffect on interest cost 226 -226At 31 December 2022 +1% change -1% changeEffect on interest cost 10,064 -10,064Unhedged part of interest bearing loansAt 31 December 2023 +1% change -1% changeEffect on interest cost 817 -817At 31 December 2022 +1% change -1% changeEffect on interest cost 1,016 -1,016", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__31": { "value": "(b) Credit riskThe group's turnover comes mainly from cash sales or debit/credit card based sales where settlement in cash takes placewithin a few days of the sales transaction. As such, the group has limited exposure to credit risk relating to accountsreceivable balances. Credit risk also arises from derivative financial instruments and deposits with banks and financialinstitutions. However, counterparts are limited to financial institutions with high creditworthiness. Historically, default andlosses related to credit risk have been low.", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__32": { "value": "(c) Liquidity riskLiquidity risk is the risk that the group will not be able to meet its financial obligations as they fall due. The group has capital-intensive inventory in central warehouse and stores and has fluctuations related to working capital due to seasonality andthe timing of the deliveries and payments.Cash flow forecasting is performed in the operating entities of the group and aggregated by group finance. Group finance monitors rolling forecasts of the group's liquidity requirements to ensure it has sufficient cash to meet operational needs while maintaining sufficient headroom on its undrawn committed loan facilities (note 18) at all times so that the group does not breach borrowing limits or covenants (where applicable) on any of its borrowing facilities. Such forecasting takes into consideration the group's debt financing plans, covenant compliance and compliance with internal balance sheet ratio targets.Surplus cash is used to pay out dividends and reduce long term borrowingsThe table below analyses the group's non-derivative financial liabilities and net-settled derivative financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows.Between Between Between Less than 1 and 2 2 and 3 3 and 4 Over 4 At 31 December 20231 yearyearsyearsyearsyearsBorrowings (ex finance lease liabilities) 39,505 38,942 466,171 - - Lease liabilities 315,610 256,375 202,199 147,874 358,319 Trade and other payables 395,001 - - - - 750,116 295,317 668,370 147,874 358,319Less thanBetween 1 Between 2 Between 3 Over 4 At 31 December 20221 yearand 2 yearsand 3 yearsand 4 yearsyearsBorrowings (ex finance lease liabilities) 40,067 39,505 38,942 465,042 - Lease liabilities 273,020 212,366 153,213 106,496 126,741 Trade and other payables 324,275 - - - - 721,258 245,063 187,627 133,368 503,625Loans consist of one long term loan to Nordea refinanced during the year. Refer to note 18 for information on the external loan.", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__33": { "value": "3.2 Capital managementThe group's objectives when managing capital are to safeguard the group's ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital.In order to maintain or adjust the capital structure, the group may adjust the amount of dividends paid to shareholders, return capital to shareholders, reduce excess loan repayments, exploit available credit facilities or sell financial assets. Kid's dividend policy is a pay-out ratio of 80-100% of adjusted net profit, with semi-annual payments. The company will deploy a dynamic distribution policy, and any excess capital will be returned to shareholders.The group monitors capital on the basis of the gearing ratio. This ratio is calculated as net interest bearing debt divided by EBITDA. Net interest bearing debt is calculated as total borrowings (including `current and non-current borrowings' as shown in the consolidated balance sheet excluded financial derivatives) less cash and cash equivalents. EBITDA is calculated as earnings before interest, tax, depreciation and amortisation.The gearing ratios at 31 December 2023 and 2022 were as follows:2023 2022Total external borrowings (note 18) 521,661 551,646Less: cash and cash equivalents (note 16) (225,065) (75,721)Net interest bearing debt 296,596 475,925EBITDA excl. IFRS 16 544,910 426,204Gearing ratio 0.54 1.12 The Group has covenants limits related to NIBD and EBITDA. For more information about covenant-limits, refer note 18.The board of directors has proposed a dividend of NOK 3.50 per share to be paid in May 2024. Including the prepayment of NOK 2.75 per share paid in December 2023, the total dividend of NOK 6.25 represents 81% of Group net income for 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__34-1": { "value": "The board of directors has proposed a dividend of NOK 3.50 per share to be paid in May 2024. Including the prepayment of NOK 2.75 per share paid in December 2023, the total dividend of NOK 6.25 represents 81% of Group net income for 2023.NOTE 10 | EARNINGS PER SHAREThere exists only one class of shares.2023 2022Weighted average number of shares 40,645,162 40 645,162Net profit for the year 313,827 249,244Earnings per share (basic and diluted) (Expressed in NOK per share) 7.72 6.13Dividends per share paid in May 3.00 4.00 Dividends per share paid in November (December) 2.75 2.50* See note 3.2 for proposed dividend at year end. Dividend distributions to the shareholders is recognised as a liability in the Group financial statements in the period in which the dividends are approved by the shareholders at the annual shareholder meeting.", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__35": { "value": "6250", "decimals": -1, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "s7_notes__6__38-1": { "value": "3.3 Fair value estimationThe Group has financial instruments carried at fair value. The different levels have been defined as follows: \u2022 Quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1).\u2022\ue61f\ue61f\ue61fInputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (Level 2).\u2022 Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (Level 3)The financial instruments carried at fair value relates to derivative instruments. These instruments are included in level 2. Refer to note 23 for further information on derivative instruments. Assets and liabilities carried at amortized cost is considered a fair estimate to fair value.The Group classifies its financial assets in the following categories: at fair value (either through OCI or profit or loss) or amortised cost. The classification is based on the SPPI model (Solely payments of principal and interest) in IFRS 9 and based on the Groups business model.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__37-1": { "value": "3.3 Fair value estimationThe Group has financial instruments carried at fair value. The different levels have been defined as follows: \u2022 Quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1).\u2022\ue61f\ue61f\ue61fInputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (Level 2).\u2022 Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (Level 3)The financial instruments carried at fair value relates to derivative instruments. These instruments are included in level 2. Refer to note 23 for further information on derivative instruments. Assets and liabilities carried at amortized cost is considered a fair estimate to fair value.NOTE 13 | FINANCIAL INSTRUMENTSThe Group classifies its financial assets in the following categories: at fair value (either through OCI or profit or loss) or amortised cost. The classification is based on the SPPI model (Solely payments of principal and interest) in IFRS 9 and based on the Groups business model.(a) Financial assets at fair value through profit or lossFinancial assets at fair value through profit or loss are derivative instruments not designated as hedging instruments. TheGroup currently have one cross currency interest swap contract defined as financial asset at fair value through profit or loss. (b) Financial assets at amortised costTrade receivables, based on the classification model SPPI are held at amortized cost. All trade receivables are classifiedas current assets.(c) Financial assets at fair value through other comprehensive incomeFinancial assets at fair value through OCI are derivative instruments designated as hedging instruments. The Groupcurrently have one interest swap contract and several currency forward contracts defined as financial asset at fair valuethrough OCI.13.1 Financial instruments by category31 December 2023Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 28,991 346 29,337Trade receivables 32,640 - 32,640Cash and bank deposits 225,065 - 225,065Total 257,706 28,991 346 287,043Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 491,661 491,661Long term lease liability 779,287 779,287Short term liabilities to financial institutions 30,000 30,000Short term lease liability 305,640 305,640Derivatives 53,748 53,748Trade creditors 203,375 203,375Total 1,809,963 53,748 1,863,71131 December 2022Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 54,778 4,672 59,450Trade receivables 12,094 - 12,094Cash and bank deposits 75,721 - 75,721Total 87,815 54,778 4,672 147,265Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 521,646 521,646Long term lease liability 523,528 523,528Short term liabilities to financial institutions 30,000 30,000Short term lease liability 258,257 258,257Derivatives 7,229 7,229Trade creditors 122,459 122,459Total 1,455,890 7,229 0 1,463,120", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__36": { "value": "3.3 Fair value estimationThe Group has financial instruments carried at fair value. The different levels have been defined as follows: \u2022 Quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1).\u2022\ue61f\ue61f\ue61fInputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (Level 2).\u2022 Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (Level 3)The financial instruments carried at fair value relates to derivative instruments. These instruments are included in level 2. Refer to note 23 for further information on derivative instruments. Assets and liabilities carried at amortized cost is considered a fair estimate to fair value.", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__43": { "value": "NOTE 4 | SEGMENT INFORMATIONOperating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker which is the group' Board of Directors (BoD). The operating segments are identified on the basis of the reports which Chief Operating Decision Maker uses to assess performance and profitability at a strategic level. The Group sells interior products mainly through wholly owned stores. Within the Group, Kid Interior relates to Norway and Hemtex relates to Sweden, Estonia and Finland. The Group also sells home interior products through the Group's online websites which is considered part of the operating segments Kid and Hemtex respectively. Over 99% of the products are sold under own brands.Group management evaluates the results from the segments based on EBITDA. The method of measurement excludes the effect of non-recurring costs, such as restructuring costs and legal costs on acquisition.Geographical informationKid Group sells home interior products in 157 fully owned stores across Norway and 130 stores across EU, of which 116 were in Sweden, 7 in Finland and 7 in Estonia. Of the stores in EU, 119 are owned by Hemtex and 11 are franchises.Revenue is measured at the fair value of the consideration received or receivable, and represents amounts receivable for goods supplied, stated net of discounts, returns and value added taxes. The group recognises revenue when control of a good or service transfers to a customer.Sales of goods are recognised when a group entity sells a product to the customer. Retail sales are usually in cash or by debit/credit card. It is the group's policy to sell its products to the retail customer with a right to return within 14 days in Kid and 30 days in Hemtex. Accumulated experience is used to estimate and provide for such returns at the time of sale. Revenue is adjusted for the value of expected returns. The Group does not operate any loyalty programmes.Revenue from the sale of goods over the internet is recognised at the point that control of the inventory have passed to the customer, which is the point of delivery to the carrier. Revenue is adjusted for the value of expected returns. The return policy for products sold over the internet is the same as for products sold in the stores. Transactions are settled by credit or payment card.Revenue2023 2022Norway 2,122,925 1,983,602Sweden 1,137,113 1,062,366Finland 94,126 83,024Estonia 59,431 48,999Total 3,413,595 3,177,9912023KID Interior Hemtex TotalRevenue 2,122,925 1 290,670 3 413,595 Purchased goods and change in inventory -796,249 -518,031 -1 314,280 Gross profit 1 326,676 772,639 2 099,315 Other operating revenue 112 4,159 4,270 Operating expense (OPEX) -711,275 -507,818 -1,219,093 EBITDA 615,513 268,980 884,493 Operating profit 390,763 89,591 480,357 - - - Gross margin (%) 62.5% 59.9% 61.5%OPEX to sales margin (%) 33.5% 39.4% 35.7%EBITDA margin (%) 29.0% 20.8% 25.9% - - - Inventory 377,550 198,729 576,279 Total assets 2,627,588 1 320,999 3,948,587 2022KID Interior Hemtex TotalRevenue 1,983,602 1,194,389 3,177,991Purchased goods and change in inventory -827,978 -503,635 -1,331,613Gross profit 1,155,624 690,754 1,846,378Other operating revenue 106 5,130 5,236Operating expense (OPEX) -657,867 -476,227 -1,134,093EBITDA 497,863 219,657 717,521Operating profit 296,485 72,740 369,225 - - - Gross margin (%) 58.3% 57.8% 58.1%OPEX to sales margin (%) 33.2% 39.9% 35.7%EBITDA margin (%) 25.1% 18.3% 22.5% - - - Inventory 421,992 246,762 668,753 Total assets 2,575,552 910,368 3,485,919", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__42-1": { "value": "NOTE 4 | SEGMENT INFORMATIONOperating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker which is the group' Board of Directors (BoD). The operating segments are identified on the basis of the reports which Chief Operating Decision Maker uses to assess performance and profitability at a strategic level. The Group sells interior products mainly through wholly owned stores. Within the Group, Kid Interior relates to Norway and Hemtex relates to Sweden, Estonia and Finland. The Group also sells home interior products through the Group's online websites which is considered part of the operating segments Kid and Hemtex respectively. Over 99% of the products are sold under own brands.Group management evaluates the results from the segments based on EBITDA. The method of measurement excludes the effect of non-recurring costs, such as restructuring costs and legal costs on acquisition.Geographical informationKid Group sells home interior products in 157 fully owned stores across Norway and 130 stores across EU, of which 116 were in Sweden, 7 in Finland and 7 in Estonia. Of the stores in EU, 119 are owned by Hemtex and 11 are franchises.Revenue is measured at the fair value of the consideration received or receivable, and represents amounts receivable for goods supplied, stated net of discounts, returns and value added taxes. The group recognises revenue when control of a good or service transfers to a customer.Sales of goods are recognised when a group entity sells a product to the customer. Retail sales are usually in cash or by debit/credit card. It is the group's policy to sell its products to the retail customer with a right to return within 14 days in Kid and 30 days in Hemtex. Accumulated experience is used to estimate and provide for such returns at the time of sale. Revenue is adjusted for the value of expected returns. The Group does not operate any loyalty programmes.Revenue from the sale of goods over the internet is recognised at the point that control of the inventory have passed to the customer, which is the point of delivery to the carrier. Revenue is adjusted for the value of expected returns. The return policy for products sold over the internet is the same as for products sold in the stores. Transactions are settled by credit or payment card.Revenue2023 2022Norway 2,122,925 1,983,602Sweden 1,137,113 1,062,366Finland 94,126 83,024Estonia 59,431 48,999Total 3,413,595 3,177,9912023KID Interior Hemtex TotalRevenue 2,122,925 1 290,670 3 413,595 Purchased goods and change in inventory -796,249 -518,031 -1 314,280 Gross profit 1 326,676 772,639 2 099,315 Other operating revenue 112 4,159 4,270 Operating expense (OPEX) -711,275 -507,818 -1,219,093 EBITDA 615,513 268,980 884,493 Operating profit 390,763 89,591 480,357 - - - Gross margin (%) 62.5% 59.9% 61.5%OPEX to sales margin (%) 33.5% 39.4% 35.7%EBITDA margin (%) 29.0% 20.8% 25.9% - - - Inventory 377,550 198,729 576,279 Total assets 2,627,588 1 320,999 3,948,587 2022KID Interior Hemtex TotalRevenue 1,983,602 1,194,389 3,177,991Purchased goods and change in inventory -827,978 -503,635 -1,331,613Gross profit 1,155,624 690,754 1,846,378Other operating revenue 106 5,130 5,236Operating expense (OPEX) -657,867 -476,227 -1,134,093EBITDA 497,863 219,657 717,521Operating profit 296,485 72,740 369,225 - - - Gross margin (%) 58.3% 57.8% 58.1%OPEX to sales margin (%) 33.2% 39.9% 35.7%EBITDA margin (%) 25.1% 18.3% 22.5% - - - Inventory 421,992 246,762 668,753 Total assets 2,575,552 910,368 3,485,919NOTE 24 | LEASESThe group leases various offices, warehouses, retail stores, equipment and vehicles. Rental contracts for the retail stores represent a significant part of the number of contracts and values, and are typically made for fixed periods of 6 months to 8 years. The contracts may include extension options.Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments:\ue61f\ue61f\u2022 fixed payments, less any lease incentives receivable\u2022 amounts expected to be payable by the group under residual value guarantees\u2022 the exercise price of a purchase option if the group is reasonably certain to exercise that option\u2022 and\ue61f payments of penalties for terminating the lease, if the lease term reflects the group exercising that option.The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which is generally the case for leases in the group, the lessee\u2019s incremental borrowing rate is used, being the rate that the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security and conditions.\ue61fThe incremental borrowing rate used takes into consideration the lenght of the contract as well as whether the location of the store is central or not.The group is exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset. Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period.Right-of-use assets are measured at cost comprising the following: the amount of the initial measurement of lease liability any lease payments made at or before the commencement date less any lease incentives received\ue61f any initial direct costs, and restoration costs.Right-of-use assets are generally depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis.If the group is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset\u2019s useful life.Payments associated with short-term leases of equipment and vehicles and all leases of low-value assets are recognised on a straight-line basis as an expense in profit or loss.\ue61fShort-term leases are leases with a lease term of 12 months or less. Low-value assets comprise IT equipment and small items of office furniture.Some property leases contain variable payment terms that are linked to sales generated from a store.\ue61f Variable lease payments that depend on sales are recognised in profit or loss in the period in which the condition that triggers those payments occurs.Extension and termination options are included in a number of store leases across the group. These are used to maximise operational flexibility in terms of managing the assets used in the group\u2019s operations. The majority of extension and termination options held are exercisable only by the group and not by the respective lessor.Right of-use-assets 2023 2022Carrying amount at 01.01. 760,734 756,940 Additions and adjustments* 573,430 283,391 Depreciation -311,560 -273,530Currency translation differences 27,424 -6,067Net carrying amount 31.12. 1,050,028 760,734 Lease liabilities 2023 2022Carrying amount at 01.01. 781,785 767,287 Additions and adjustments* 573,430 283,391 Interest expense 43,333 28,497 Lease payments -339,583 -291,320 Currency translation differences 25,962 -6,070 Total lease liabilities 31.12. 1,084,927 781,785* Included in additions and adjustments are new contracts, renegotiated contracts, extentions and index adjustments on existing contracts. In 2023 the lease contract related to the new warehouse in Sweden was included in IFRS 16 as well as several Extended-stores, resulting in material additions. Refer to note 5 for more information on extension options Lease contracts is mainly related to rental agreements for stores and warehouse. Indicators of impairment of right of use contracts have been assessed at the lowest CGU level, being the stores. Management concluded that there were no indicators as per 31 December 2023. The group have lease contracts with turnover based lease payments. This represent variable lease payments that is not included in the lease liablity, but recognised as an expense as incurred. In addition the lease contracts includes some variable non lease components related to shared operating expenses for the buildings and shared marketing. The variable lease payments and non-lease components are dislosed in the table below: 2023 2022Variable lease payments 19,939 18,040 Shared operating costs 80,314 71,374 Marketing costs 22,239 20,398 Sum 19 122,492 109,812 Lease payments 339,583 291,320 Total payments related to lease contracts 462,075 401,132 2023 2022Number of lease contracts 294 288Right to renewal of lease contract 97 83Percentage of lease contracts with option to renewal 33% 29%Number of lease contracts by geography 2023 2022Norway 156 150Sweden 123 124Finland 8 8Estonia 7 6", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__41-1": { "value": "NOTE 4 | SEGMENT INFORMATIONOperating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker which is the group' Board of Directors (BoD). The operating segments are identified on the basis of the reports which Chief Operating Decision Maker uses to assess performance and profitability at a strategic level. The Group sells interior products mainly through wholly owned stores. Within the Group, Kid Interior relates to Norway and Hemtex relates to Sweden, Estonia and Finland. The Group also sells home interior products through the Group's online websites which is considered part of the operating segments Kid and Hemtex respectively. Over 99% of the products are sold under own brands.Group management evaluates the results from the segments based on EBITDA. The method of measurement excludes the effect of non-recurring costs, such as restructuring costs and legal costs on acquisition.Geographical informationKid Group sells home interior products in 157 fully owned stores across Norway and 130 stores across EU, of which 116 were in Sweden, 7 in Finland and 7 in Estonia. Of the stores in EU, 119 are owned by Hemtex and 11 are franchises.Revenue is measured at the fair value of the consideration received or receivable, and represents amounts receivable for goods supplied, stated net of discounts, returns and value added taxes. The group recognises revenue when control of a good or service transfers to a customer.Sales of goods are recognised when a group entity sells a product to the customer. Retail sales are usually in cash or by debit/credit card. It is the group's policy to sell its products to the retail customer with a right to return within 14 days in Kid and 30 days in Hemtex. Accumulated experience is used to estimate and provide for such returns at the time of sale. Revenue is adjusted for the value of expected returns. The Group does not operate any loyalty programmes.Revenue from the sale of goods over the internet is recognised at the point that control of the inventory have passed to the customer, which is the point of delivery to the carrier. Revenue is adjusted for the value of expected returns. The return policy for products sold over the internet is the same as for products sold in the stores. Transactions are settled by credit or payment card.Revenue2023 2022Norway 2,122,925 1,983,602Sweden 1,137,113 1,062,366Finland 94,126 83,024Estonia 59,431 48,999Total 3,413,595 3,177,9912023KID Interior Hemtex TotalRevenue 2,122,925 1 290,670 3 413,595 Purchased goods and change in inventory -796,249 -518,031 -1 314,280 Gross profit 1 326,676 772,639 2 099,315 Other operating revenue 112 4,159 4,270 Operating expense (OPEX) -711,275 -507,818 -1,219,093 EBITDA 615,513 268,980 884,493 Operating profit 390,763 89,591 480,357 - - - Gross margin (%) 62.5% 59.9% 61.5%OPEX to sales margin (%) 33.5% 39.4% 35.7%EBITDA margin (%) 29.0% 20.8% 25.9% - - - Inventory 377,550 198,729 576,279 Total assets 2,627,588 1 320,999 3,948,587 2022KID Interior Hemtex TotalRevenue 1,983,602 1,194,389 3,177,991Purchased goods and change in inventory -827,978 -503,635 -1,331,613Gross profit 1,155,624 690,754 1,846,378Other operating revenue 106 5,130 5,236Operating expense (OPEX) -657,867 -476,227 -1,134,093EBITDA 497,863 219,657 717,521Operating profit 296,485 72,740 369,225 - - - Gross margin (%) 58.3% 57.8% 58.1%OPEX to sales margin (%) 33.2% 39.9% 35.7%EBITDA margin (%) 25.1% 18.3% 22.5% - - - Inventory 421,992 246,762 668,753 Total assets 2,575,552 910,368 3,485,919NOTE 24 | LEASESThe group leases various offices, warehouses, retail stores, equipment and vehicles. Rental contracts for the retail stores represent a significant part of the number of contracts and values, and are typically made for fixed periods of 6 months to 8 years. The contracts may include extension options.Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments:\ue61f\ue61f\u2022 fixed payments, less any lease incentives receivable\u2022 amounts expected to be payable by the group under residual value guarantees\u2022 the exercise price of a purchase option if the group is reasonably certain to exercise that option\u2022 and\ue61f payments of penalties for terminating the lease, if the lease term reflects the group exercising that option.The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which is generally the case for leases in the group, the lessee\u2019s incremental borrowing rate is used, being the rate that the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security and conditions.\ue61fThe incremental borrowing rate used takes into consideration the lenght of the contract as well as whether the location of the store is central or not.The group is exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset. Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period.Right-of-use assets are measured at cost comprising the following: the amount of the initial measurement of lease liability any lease payments made at or before the commencement date less any lease incentives received\ue61f any initial direct costs, and restoration costs.Right-of-use assets are generally depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis.If the group is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset\u2019s useful life.Payments associated with short-term leases of equipment and vehicles and all leases of low-value assets are recognised on a straight-line basis as an expense in profit or loss.\ue61fShort-term leases are leases with a lease term of 12 months or less. Low-value assets comprise IT equipment and small items of office furniture.Some property leases contain variable payment terms that are linked to sales generated from a store.\ue61f Variable lease payments that depend on sales are recognised in profit or loss in the period in which the condition that triggers those payments occurs.Extension and termination options are included in a number of store leases across the group. These are used to maximise operational flexibility in terms of managing the assets used in the group\u2019s operations. The majority of extension and termination options held are exercisable only by the group and not by the respective lessor.Right of-use-assets 2023 2022Carrying amount at 01.01. 760,734 756,940 Additions and adjustments* 573,430 283,391 Depreciation -311,560 -273,530Currency translation differences 27,424 -6,067Net carrying amount 31.12. 1,050,028 760,734 Lease liabilities 2023 2022Carrying amount at 01.01. 781,785 767,287 Additions and adjustments* 573,430 283,391 Interest expense 43,333 28,497 Lease payments -339,583 -291,320 Currency translation differences 25,962 -6,070 Total lease liabilities 31.12. 1,084,927 781,785* Included in additions and adjustments are new contracts, renegotiated contracts, extentions and index adjustments on existing contracts. In 2023 the lease contract related to the new warehouse in Sweden was included in IFRS 16 as well as several Extended-stores, resulting in material additions. Refer to note 5 for more information on extension options Lease contracts is mainly related to rental agreements for stores and warehouse. Indicators of impairment of right of use contracts have been assessed at the lowest CGU level, being the stores. Management concluded that there were no indicators as per 31 December 2023. The group have lease contracts with turnover based lease payments. This represent variable lease payments that is not included in the lease liablity, but recognised as an expense as incurred. In addition the lease contracts includes some variable non lease components related to shared operating expenses for the buildings and shared marketing. The variable lease payments and non-lease components are dislosed in the table below: 2023 2022Variable lease payments 19,939 18,040 Shared operating costs 80,314 71,374 Marketing costs 22,239 20,398 Sum 19 122,492 109,812 Lease payments 339,583 291,320 Total payments related to lease contracts 462,075 401,132 2023 2022Number of lease contracts 294 288Right to renewal of lease contract 97 83Percentage of lease contracts with option to renewal 33% 29%Number of lease contracts by geography 2023 2022Norway 156 150Sweden 123 124Finland 8 8Estonia 7 6", "dimensions": { "concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__40": { "value": "NOTE 4 | SEGMENT INFORMATIONOperating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker which is the group' Board of Directors (BoD). The operating segments are identified on the basis of the reports which Chief Operating Decision Maker uses to assess performance and profitability at a strategic level. The Group sells interior products mainly through wholly owned stores. Within the Group, Kid Interior relates to Norway and Hemtex relates to Sweden, Estonia and Finland. The Group also sells home interior products through the Group's online websites which is considered part of the operating segments Kid and Hemtex respectively. Over 99% of the products are sold under own brands.Group management evaluates the results from the segments based on EBITDA. The method of measurement excludes the effect of non-recurring costs, such as restructuring costs and legal costs on acquisition.Geographical informationKid Group sells home interior products in 157 fully owned stores across Norway and 130 stores across EU, of which 116 were in Sweden, 7 in Finland and 7 in Estonia. Of the stores in EU, 119 are owned by Hemtex and 11 are franchises.Revenue is measured at the fair value of the consideration received or receivable, and represents amounts receivable for goods supplied, stated net of discounts, returns and value added taxes. The group recognises revenue when control of a good or service transfers to a customer.Sales of goods are recognised when a group entity sells a product to the customer. Retail sales are usually in cash or by debit/credit card. It is the group's policy to sell its products to the retail customer with a right to return within 14 days in Kid and 30 days in Hemtex. Accumulated experience is used to estimate and provide for such returns at the time of sale. Revenue is adjusted for the value of expected returns. The Group does not operate any loyalty programmes.Revenue from the sale of goods over the internet is recognised at the point that control of the inventory have passed to the customer, which is the point of delivery to the carrier. Revenue is adjusted for the value of expected returns. The return policy for products sold over the internet is the same as for products sold in the stores. Transactions are settled by credit or payment card.Revenue2023 2022Norway 2,122,925 1,983,602Sweden 1,137,113 1,062,366Finland 94,126 83,024Estonia 59,431 48,999Total 3,413,595 3,177,9912023KID Interior Hemtex TotalRevenue 2,122,925 1 290,670 3 413,595 Purchased goods and change in inventory -796,249 -518,031 -1 314,280 Gross profit 1 326,676 772,639 2 099,315 Other operating revenue 112 4,159 4,270 Operating expense (OPEX) -711,275 -507,818 -1,219,093 EBITDA 615,513 268,980 884,493 Operating profit 390,763 89,591 480,357 - - - Gross margin (%) 62.5% 59.9% 61.5%OPEX to sales margin (%) 33.5% 39.4% 35.7%EBITDA margin (%) 29.0% 20.8% 25.9% - - - Inventory 377,550 198,729 576,279 Total assets 2,627,588 1 320,999 3,948,587 2022KID Interior Hemtex TotalRevenue 1,983,602 1,194,389 3,177,991Purchased goods and change in inventory -827,978 -503,635 -1,331,613Gross profit 1,155,624 690,754 1,846,378Other operating revenue 106 5,130 5,236Operating expense (OPEX) -657,867 -476,227 -1,134,093EBITDA 497,863 219,657 717,521Operating profit 296,485 72,740 369,225 - - - Gross margin (%) 58.3% 57.8% 58.1%OPEX to sales margin (%) 33.2% 39.9% 35.7%EBITDA margin (%) 25.1% 18.3% 22.5% - - - Inventory 421,992 246,762 668,753 Total assets 2,575,552 910,368 3,485,919", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__39": { "value": "NOTE 4 | SEGMENT INFORMATIONOperating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker which is the group' Board of Directors (BoD). The operating segments are identified on the basis of the reports which Chief Operating Decision Maker uses to assess performance and profitability at a strategic level. The Group sells interior products mainly through wholly owned stores. Within the Group, Kid Interior relates to Norway and Hemtex relates to Sweden, Estonia and Finland. The Group also sells home interior products through the Group's online websites which is considered part of the operating segments Kid and Hemtex respectively. Over 99% of the products are sold under own brands.Group management evaluates the results from the segments based on EBITDA. The method of measurement excludes the effect of non-recurring costs, such as restructuring costs and legal costs on acquisition.Geographical informationKid Group sells home interior products in 157 fully owned stores across Norway and 130 stores across EU, of which 116 were in Sweden, 7 in Finland and 7 in Estonia. Of the stores in EU, 119 are owned by Hemtex and 11 are franchises.Revenue is measured at the fair value of the consideration received or receivable, and represents amounts receivable for goods supplied, stated net of discounts, returns and value added taxes. The group recognises revenue when control of a good or service transfers to a customer.Sales of goods are recognised when a group entity sells a product to the customer. Retail sales are usually in cash or by debit/credit card. It is the group's policy to sell its products to the retail customer with a right to return within 14 days in Kid and 30 days in Hemtex. Accumulated experience is used to estimate and provide for such returns at the time of sale. Revenue is adjusted for the value of expected returns. The Group does not operate any loyalty programmes.Revenue from the sale of goods over the internet is recognised at the point that control of the inventory have passed to the customer, which is the point of delivery to the carrier. Revenue is adjusted for the value of expected returns. The return policy for products sold over the internet is the same as for products sold in the stores. Transactions are settled by credit or payment card.Revenue2023 2022Norway 2,122,925 1,983,602Sweden 1,137,113 1,062,366Finland 94,126 83,024Estonia 59,431 48,999Total 3,413,595 3,177,9912023KID Interior Hemtex TotalRevenue 2,122,925 1 290,670 3 413,595 Purchased goods and change in inventory -796,249 -518,031 -1 314,280 Gross profit 1 326,676 772,639 2 099,315 Other operating revenue 112 4,159 4,270 Operating expense (OPEX) -711,275 -507,818 -1,219,093 EBITDA 615,513 268,980 884,493 Operating profit 390,763 89,591 480,357 - - - Gross margin (%) 62.5% 59.9% 61.5%OPEX to sales margin (%) 33.5% 39.4% 35.7%EBITDA margin (%) 29.0% 20.8% 25.9% - - - Inventory 377,550 198,729 576,279 Total assets 2,627,588 1 320,999 3,948,587 2022KID Interior Hemtex TotalRevenue 1,983,602 1,194,389 3,177,991Purchased goods and change in inventory -827,978 -503,635 -1,331,613Gross profit 1,155,624 690,754 1,846,378Other operating revenue 106 5,130 5,236Operating expense (OPEX) -657,867 -476,227 -1,134,093EBITDA 497,863 219,657 717,521Operating profit 296,485 72,740 369,225 - - - Gross margin (%) 58.3% 57.8% 58.1%OPEX to sales margin (%) 33.2% 39.9% 35.7%EBITDA margin (%) 25.1% 18.3% 22.5% - - - Inventory 421,992 246,762 668,753 Total assets 2,575,552 910,368 3,485,919", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__44": { "value": "Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker which is the group' Board of Directors (BoD). The operating segments are identified on the basis of the reports which Chief Operating Decision Maker uses to assess performance and profitability at a strategic level. The Group sells interior products mainly through wholly owned stores. Within the Group, Kid Interior relates to Norway and Hemtex relates to Sweden, Estonia and Finland. The Group also sells home interior products through the Group's online websites which is considered part of the operating segments Kid and Hemtex respectively. Over 99% of the products are sold under own brands.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__45": { "value": "Revenue is measured at the fair value of the consideration received or receivable, and represents amounts receivable for goods supplied, stated net of discounts, returns and value added taxes. The group recognises revenue when control of a good or service transfers to a customer.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__46": { "value": "NOTE 5 | CRITICAL ACCOUNTING ESTIMATES AND SIGNIFICANT JUDGEMENTSEstimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.5.1 Critical accounting estimates and assumptionsGroup management makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.5.1.1 Estimated value-in-use to support the value of trademark and goodwillThe Group tests annually whether the Group\u2019s trademark and goodwill has suffered any impairment in accordance with IAS 36. The recoverable amounts of the defined cash-generating units, KID Interi\u00f8r and Hemtex, have been determined based on value-in-use calculations. These calculations require use of estimates, and included considerations of sustainability topics with possible financial materiality. The impairment tests are especially sensitive for negative changes in long-term revenue growth and gross margin. See note 12 \u2013 Intangible assets for more information.5.1.2 Critical judgements in determining the lease termIn determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option.Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated). Most extension options in store leases have not been included in the lease liability, because the group has the market power to renegotiate rental terms rather than exercising options and also has the financial power to replace the stores without significant cost or business disruption.The lease term is reassessed if an option is actually exercised (or not exercised) or the group becomes obliged to exercise (or not exercise) it. The assessment of reasonable certainty is only revised if a significant event or a significant change in circumstances occurs, which affects this assessment, and that is within the control of the lessee. 5.2 Critical judgements in applying the entity\u2019s accounting policiesThere has not been identified any other critical judgements in applying the entity\u2019s accounting policies.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__47": { "value": "5.1.1 Estimated value-in-use to support the value of trademark and goodwillThe Group tests annually whether the Group\u2019s trademark and goodwill has suffered any impairment in accordance with IAS 36. The recoverable amounts of the defined cash-generating units, KID Interi\u00f8r and Hemtex, have been determined based on value-in-use calculations. These calculations require use of estimates, and included considerations of sustainability topics with possible financial materiality. The impairment tests are especially sensitive for negative changes in long-term revenue growth and gross margin", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__48-1": { "value": "5.1.2 Critical judgements in determining the lease termIn determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option.Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated). Most extension options in store leases have not been included in the lease liability, because the group has the market power to renegotiate rental terms rather than exercising options and also has the financial power to replace the stores without significant cost or business disruption.The lease term is reassessed if an option is actually exercised (or not exercised) or the group becomes obliged to exercise (or not exercise) it. The assessment of reasonable certainty is only revised if a significant event or a significant change in circumstances occurs, which affects this assessment, and that is within the control of the lessee.The group leases various offices, warehouses, retail stores, equipment and vehicles. Rental contracts for the retail stores represent a significant part of the number of contracts and values, and are typically made for fixed periods of 6 months to 8 years. The contracts may include extension options.Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments:\ue61f\ue61f\u2022 fixed payments, less any lease incentives receivable\u2022 amounts expected to be payable by the group under residual value guarantees\u2022 the exercise price of a purchase option if the group is reasonably certain to exercise that option\u2022 and\ue61f payments of penalties for terminating the lease, if the lease term reflects the group exercising that option.The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which is generally the case for leases in the group, the lessee\u2019s incremental borrowing rate is used, being the rate that the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security and conditions.\ue61fThe incremental borrowing rate used takes into consideration the lenght of the contract as well as whether the location of the store is central or not.The group is exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset. Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period.Right-of-use assets are measured at cost comprising the following: the amount of the initial measurement of lease liability any lease payments made at or before the commencement date less any lease incentives received\ue61f any initial direct costs, and restoration costs.Right-of-use assets are generally depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis.If the group is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset\u2019s useful life.Payments associated with short-term leases of equipment and vehicles and all leases of low-value assets are recognised on a straight-line basis as an expense in profit or loss.\ue61fShort-term leases are leases with a lease term of 12 months or less. Low-value assets comprise IT equipment and small items of office furniture.Some property leases contain variable payment terms that are linked to sales generated from a store.\ue61f Variable lease payments that depend on sales are recognised in profit or loss in the period in which the condition that triggers those payments occurs.Extension and termination options are included in a number of store leases across the group. These are used to maximise operational flexibility in terms of managing the assets used in the group\u2019s operations. The majority of extension and termination options held are exercisable only by the group and not by the respective lessor.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__50-1": { "value": "NOTE 6 | EMPLOYEE REMUNERATION AND AUDIT FEES6a Employee benefit expense2023 2022Wages and salaries 566,488 505,913Social security costs 108,970 97,328Pension costs - defined contribution plans (note 20) 17,653 18,289Other benefits 11,611 8,362Total employee benefit expense 704,722 629,892Average number of full-time employees 1,004 958There has not been any loans to employees or guarantees granted to employees for either 2022 or 2023. Refer to note 19 for specification of salary-related accruals included in Other short term liabilities. 6b Benefits key management personnel and board of directors2023Accrued Other Key Management Personnel Salary PensionbonusBenefits TotalCEO, CFO, VD Hemtex 9,227 545 6557 410 16,739Board of directors 2,840 2,8402022Accrued Other Key Management Personnel Salary PensionbonusBenefits TotalCEO, CFO, VD Hemtex 8,611 605 -892 377 8,702Board of directors 2,128 2,128There has not been any loans or guarantees granted to key management personnel for either 2022 or 2023.CEO have 6 months salary as termination benefit.There are no share based payments.For more information on remuneration, please refer to Remuneration report 2023 as approved by the Board of Directors. The Remuneration report is subject to an advisory vote by the General Meeting in 2024, and published as part of the appendices to the Notice of Annual General Meeting at investor.kid.no6c Audit fees2023 2022Statutory audit 2,240 2,245Other assurance services 231 48Tax related services 0 137Other assistance 0 0Total fees 2,471 2,430NOTE 20 | POST\ue61fEMPLOYMENT BENEFITSThe company has various pension schemes. The pension schemes are financed through payments to insurance companies, with the exception of the early retirement pension scheme (AFP). The company has both defined contribution plans and the AFP scheme. For defined contribution plans, the group pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. The group has no further payment obligations once the contributions have been paid. The contributions are recognised as employee benefit expense when they are due. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available. The company also has an agreed early retirement scheme (AFP). The table below outlines where the group's post-employment amounts and activity are included in the financial statements.Income statement charge included in operating profit for: 2023 2022Pensions earned this year \u2013 the group pension scheme 16,925 17,417Pensions earned this year \u2013 the agreed early retirement scheme (AFP) 728 872Social security fees 3,525 3,630Net pension expenses 21,178 21,91920.1 AFP schemeThe subsidiary Kid Logistikk AS and 16 of our stores have an agreed early retirement scheme (AFP). The AFP-scheme, in force from 1st of January 2011, is a defined benefit multi-enterprise scheme, but is recognised in the accounts as defined contribution scheme until reliable and sufficient information is available for the group to recognise its proportional share of pension cost, pension liability and pension funds in the scheme. The company's liabilities are therefore not recognised as debt in the balance sheet.", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__49-1": { "value": "NOTE 6 | EMPLOYEE REMUNERATION AND AUDIT FEES6a Employee benefit expense2023 2022Wages and salaries 566,488 505,913Social security costs 108,970 97,328Pension costs - defined contribution plans (note 20) 17,653 18,289Other benefits 11,611 8,362Total employee benefit expense 704,722 629,892Average number of full-time employees 1,004 958There has not been any loans to employees or guarantees granted to employees for either 2022 or 2023. Refer to note 19 for specification of salary-related accruals included in Other short term liabilities. 6b Benefits key management personnel and board of directors2023Accrued Other Key Management Personnel Salary PensionbonusBenefits TotalCEO, CFO, VD Hemtex 9,227 545 6557 410 16,739Board of directors 2,840 2,8402022Accrued Other Key Management Personnel Salary PensionbonusBenefits TotalCEO, CFO, VD Hemtex 8,611 605 -892 377 8,702Board of directors 2,128 2,128There has not been any loans or guarantees granted to key management personnel for either 2022 or 2023.CEO have 6 months salary as termination benefit.There are no share based payments.For more information on remuneration, please refer to Remuneration report 2023 as approved by the Board of Directors. The Remuneration report is subject to an advisory vote by the General Meeting in 2024, and published as part of the appendices to the Notice of Annual General Meeting at investor.kid.no6c Audit fees2023 2022Statutory audit 2,240 2,245Other assurance services 231 48Tax related services 0 137Other assistance 0 0Total fees 2,471 2,430NOTE 20 | POST\ue61fEMPLOYMENT BENEFITSThe company has various pension schemes. The pension schemes are financed through payments to insurance companies, with the exception of the early retirement pension scheme (AFP). The company has both defined contribution plans and the AFP scheme. For defined contribution plans, the group pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. The group has no further payment obligations once the contributions have been paid. The contributions are recognised as employee benefit expense when they are due. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available. The company also has an agreed early retirement scheme (AFP). The table below outlines where the group's post-employment amounts and activity are included in the financial statements.Income statement charge included in operating profit for: 2023 2022Pensions earned this year \u2013 the group pension scheme 16,925 17,417Pensions earned this year \u2013 the agreed early retirement scheme (AFP) 728 872Social security fees 3,525 3,630Net pension expenses 21,178 21,91920.1 AFP schemeThe subsidiary Kid Logistikk AS and 16 of our stores have an agreed early retirement scheme (AFP). The AFP-scheme, in force from 1st of January 2011, is a defined benefit multi-enterprise scheme, but is recognised in the accounts as defined contribution scheme until reliable and sufficient information is available for the group to recognise its proportional share of pension cost, pension liability and pension funds in the scheme. The company's liabilities are therefore not recognised as debt in the balance sheet.", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__51-1": { "value": "6b Benefits key management personnel and board of directors2023Accrued Other Key Management Personnel Salary PensionbonusBenefits TotalCEO, CFO, VD Hemtex 9,227 545 6557 410 16,739Board of directors 2,840 2,8402022Accrued Other Key Management Personnel Salary PensionbonusBenefits TotalCEO, CFO, VD Hemtex 8,611 605 -892 377 8,702Board of directors 2,128 2,128There has not been any loans or guarantees granted to key management personnel for either 2022 or 2023.CEO have 6 months salary as termination benefit.There are no share based payments.For more information on remuneration, please refer to Remuneration report 2023 as approved by the Board of Directors. The Remuneration report is subject to an advisory vote by the General Meeting in 2024, and published as part of the appendices to the Notice of Annual General Meeting at investor.kid.noKey Management Personnel Share holdings 31.12.2023 31.12.2022Anders Fjeld 138,000 130,000 Mads Kigen 500 na Eystein Lund na 50,286 Anders Lorentzson na na Board of DirectorsPetter Schouw-Hansen 54,808 54,808 Liv Berstad 1,270 - Gyrid Skalleberg Inger\u00f8 3,007 3,007 Karin Bing Orgland 32,629 32,629 Rune Marsdal 20,427 20,427 Espen Gundersen 7,000 4,000", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__52": { "value": "6c Audit fees2023 2022Statutory audit 2,240 2,245Other assurance services 231 48Tax related services 0 137Other assistance 0 0Total fees 2,471 2,430", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__58": { "value": "NOTE 7 | FINANCE INCOME AND COSTSInterest income arises primarily from interest received on short-term bank deposits, and is recognised as earned.2023 2022Finance costsBank interest cost 34,175 18,137Bank charges 2,761 3,845Other finance costs* 7,204 1,998Interest on lease liability 43,333 28,497Total finance costs 87,473 52,477Finance incomeInterest income on short-term bank deposits 4,477 1,178*Other finance income6,367 3,770Total finance income 10,844 4,948Net finance costs -76,629 -47,528* Realized and unrealized currency gain/loss and change in fair value of cross currency interest swap are included in other finance costs and other finance income.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__57": { "value": "NOTE 7 | FINANCE INCOME AND COSTSInterest income arises primarily from interest received on short-term bank deposits, and is recognised as earned.2023 2022Finance costsBank interest cost 34,175 18,137Bank charges 2,761 3,845Other finance costs* 7,204 1,998Interest on lease liability 43,333 28,497Total finance costs 87,473 52,477Finance incomeInterest income on short-term bank deposits 4,477 1,178*Other finance income6,367 3,770Total finance income 10,844 4,948Net finance costs -76,629 -47,528* Realized and unrealized currency gain/loss and change in fair value of cross currency interest swap are included in other finance costs and other finance income.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__56": { "value": "NOTE 7 | FINANCE INCOME AND COSTSInterest income arises primarily from interest received on short-term bank deposits, and is recognised as earned.2023 2022Finance costsBank interest cost 34,175 18,137Bank charges 2,761 3,845Other finance costs* 7,204 1,998Interest on lease liability 43,333 28,497Total finance costs 87,473 52,477Finance incomeInterest income on short-term bank deposits 4,477 1,178*Other finance income6,367 3,770Total finance income 10,844 4,948Net finance costs -76,629 -47,528* Realized and unrealized currency gain/loss and change in fair value of cross currency interest swap are included in other finance costs and other finance income.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__55": { "value": "NOTE 7 | FINANCE INCOME AND COSTSInterest income arises primarily from interest received on short-term bank deposits, and is recognised as earned.2023 2022Finance costsBank interest cost 34,175 18,137Bank charges 2,761 3,845Other finance costs* 7,204 1,998Interest on lease liability 43,333 28,497Total finance costs 87,473 52,477Finance incomeInterest income on short-term bank deposits 4,477 1,178*Other finance income6,367 3,770Total finance income 10,844 4,948Net finance costs -76,629 -47,528* Realized and unrealized currency gain/loss and change in fair value of cross currency interest swap are included in other finance costs and other finance income.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__54": { "value": "NOTE 7 | FINANCE INCOME AND COSTSInterest income arises primarily from interest received on short-term bank deposits, and is recognised as earned.2023 2022Finance costsBank interest cost 34,175 18,137Bank charges 2,761 3,845Other finance costs* 7,204 1,998Interest on lease liability 43,333 28,497Total finance costs 87,473 52,477Finance incomeInterest income on short-term bank deposits 4,477 1,178*Other finance income6,367 3,770Total finance income 10,844 4,948Net finance costs -76,629 -47,528* Realized and unrealized currency gain/loss and change in fair value of cross currency interest swap are included in other finance costs and other finance income.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__53": { "value": "NOTE 7 | FINANCE INCOME AND COSTSInterest income arises primarily from interest received on short-term bank deposits, and is recognised as earned.2023 2022Finance costsBank interest cost 34,175 18,137Bank charges 2,761 3,845Other finance costs* 7,204 1,998Interest on lease liability 43,333 28,497Total finance costs 87,473 52,477Finance incomeInterest income on short-term bank deposits 4,477 1,178*Other finance income6,367 3,770Total finance income 10,844 4,948Net finance costs -76,629 -47,528* Realized and unrealized currency gain/loss and change in fair value of cross currency interest swap are included in other finance costs and other finance income.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__59": { "value": "Interest income arises primarily from interest received on short-term bank deposits, and is recognised as earned.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__63": { "value": "NOTE 8 | INVESTMENTS IN JOINT VENTURES AND SUBSIDIARIESThe group had the following subsidiaries at 31 December 2023Proportion of shares directly held Name Place of business Nature of businessby parent (%)Kid Interi\u00f8r AS Norway Interior goods retailer 100Kid Logistikk AS Norway Logistics 100Kid Eiendom AS Norway Logistics 100Hemtex AB Sweden Interior goods retailer 100Hemtex OY Finland Interior goods retailer 100Kid International Logistic AB Sweden Logistics 100All subsidiary undertakings are included in the consolidation. The group had the following joint ventures at 31 December 2023Place of Nature of Measurement Ownership Carrying NamebusinessrelationshipmethodshareamountPrognosgatan Holding AS Norway Joint venture Equity method 50% 1013As per year-end the the joint venture is reflected in the statement of financial position. Per 31 December 2023, the share of result from joint ventures is MNOK -1.2 (MNOK -2.8). The carrying amount is MNOK 1 (MNOK 0). Refer to note 21 for infomation for loans to JV.The Joint Venture is controlled by Kid (through Kid Eiendom AS) and Fabritius on a 50/50% basis and holds the investment in the warehouse in Viared, Sweden. Fabritius is wholly owned by Gjelsten Holding AS, which currently also holds 10.24% of the shares in Kid ASA.Commitments and contingent liabilities in respect of joint venturesAn agreement with the construction entrepreneur was signed in December 2023 for the expansion of the central warehouse in Sweden. Kid ASA has provided a guarantee equal to 5% of the total contracted amount MNOK 204.5. An updated lease agreement has been signed between Prognosgatan Fastighets AB (lessor) and Kid International Logistic AB (lessee) for the use of the central warehouse and offices including the planned expansion. Kid ASA have placed a customary parent company guarantee in favour of the lessor for an amount equal to 12 months of total rent inclusive VAT under the updated lease agreement, which is subject to an annual index regulation.", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__62": { "value": "NOTE 8 | INVESTMENTS IN JOINT VENTURES AND SUBSIDIARIESThe group had the following subsidiaries at 31 December 2023Proportion of shares directly held Name Place of business Nature of businessby parent (%)Kid Interi\u00f8r AS Norway Interior goods retailer 100Kid Logistikk AS Norway Logistics 100Kid Eiendom AS Norway Logistics 100Hemtex AB Sweden Interior goods retailer 100Hemtex OY Finland Interior goods retailer 100Kid International Logistic AB Sweden Logistics 100All subsidiary undertakings are included in the consolidation. The group had the following joint ventures at 31 December 2023Place of Nature of Measurement Ownership Carrying NamebusinessrelationshipmethodshareamountPrognosgatan Holding AS Norway Joint venture Equity method 50% 1013As per year-end the the joint venture is reflected in the statement of financial position. Per 31 December 2023, the share of result from joint ventures is MNOK -1.2 (MNOK -2.8). The carrying amount is MNOK 1 (MNOK 0). Refer to note 21 for infomation for loans to JV.The Joint Venture is controlled by Kid (through Kid Eiendom AS) and Fabritius on a 50/50% basis and holds the investment in the warehouse in Viared, Sweden. Fabritius is wholly owned by Gjelsten Holding AS, which currently also holds 10.24% of the shares in Kid ASA.Commitments and contingent liabilities in respect of joint venturesAn agreement with the construction entrepreneur was signed in December 2023 for the expansion of the central warehouse in Sweden. Kid ASA has provided a guarantee equal to 5% of the total contracted amount MNOK 204.5. An updated lease agreement has been signed between Prognosgatan Fastighets AB (lessor) and Kid International Logistic AB (lessee) for the use of the central warehouse and offices including the planned expansion. Kid ASA have placed a customary parent company guarantee in favour of the lessor for an amount equal to 12 months of total rent inclusive VAT under the updated lease agreement, which is subject to an annual index regulation.", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__61": { "value": "NOTE 8 | INVESTMENTS IN JOINT VENTURES AND SUBSIDIARIESThe group had the following subsidiaries at 31 December 2023Proportion of shares directly held Name Place of business Nature of businessby parent (%)Kid Interi\u00f8r AS Norway Interior goods retailer 100Kid Logistikk AS Norway Logistics 100Kid Eiendom AS Norway Logistics 100Hemtex AB Sweden Interior goods retailer 100Hemtex OY Finland Interior goods retailer 100Kid International Logistic AB Sweden Logistics 100All subsidiary undertakings are included in the consolidation. The group had the following joint ventures at 31 December 2023Place of Nature of Measurement Ownership Carrying NamebusinessrelationshipmethodshareamountPrognosgatan Holding AS Norway Joint venture Equity method 50% 1013As per year-end the the joint venture is reflected in the statement of financial position. Per 31 December 2023, the share of result from joint ventures is MNOK -1.2 (MNOK -2.8). The carrying amount is MNOK 1 (MNOK 0). Refer to note 21 for infomation for loans to JV.The Joint Venture is controlled by Kid (through Kid Eiendom AS) and Fabritius on a 50/50% basis and holds the investment in the warehouse in Viared, Sweden. Fabritius is wholly owned by Gjelsten Holding AS, which currently also holds 10.24% of the shares in Kid ASA.Commitments and contingent liabilities in respect of joint venturesAn agreement with the construction entrepreneur was signed in December 2023 for the expansion of the central warehouse in Sweden. Kid ASA has provided a guarantee equal to 5% of the total contracted amount MNOK 204.5. An updated lease agreement has been signed between Prognosgatan Fastighets AB (lessor) and Kid International Logistic AB (lessee) for the use of the central warehouse and offices including the planned expansion. Kid ASA have placed a customary parent company guarantee in favour of the lessor for an amount equal to 12 months of total rent inclusive VAT under the updated lease agreement, which is subject to an annual index regulation.", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__60": { "value": "NOTE 8 | INVESTMENTS IN JOINT VENTURES AND SUBSIDIARIESThe group had the following subsidiaries at 31 December 2023Proportion of shares directly held Name Place of business Nature of businessby parent (%)Kid Interi\u00f8r AS Norway Interior goods retailer 100Kid Logistikk AS Norway Logistics 100Kid Eiendom AS Norway Logistics 100Hemtex AB Sweden Interior goods retailer 100Hemtex OY Finland Interior goods retailer 100Kid International Logistic AB Sweden Logistics 100All subsidiary undertakings are included in the consolidation. The group had the following joint ventures at 31 December 2023Place of Nature of Measurement Ownership Carrying NamebusinessrelationshipmethodshareamountPrognosgatan Holding AS Norway Joint venture Equity method 50% 1013As per year-end the the joint venture is reflected in the statement of financial position. Per 31 December 2023, the share of result from joint ventures is MNOK -1.2 (MNOK -2.8). The carrying amount is MNOK 1 (MNOK 0). Refer to note 21 for infomation for loans to JV.The Joint Venture is controlled by Kid (through Kid Eiendom AS) and Fabritius on a 50/50% basis and holds the investment in the warehouse in Viared, Sweden. Fabritius is wholly owned by Gjelsten Holding AS, which currently also holds 10.24% of the shares in Kid ASA.Commitments and contingent liabilities in respect of joint venturesAn agreement with the construction entrepreneur was signed in December 2023 for the expansion of the central warehouse in Sweden. Kid ASA has provided a guarantee equal to 5% of the total contracted amount MNOK 204.5. An updated lease agreement has been signed between Prognosgatan Fastighets AB (lessor) and Kid International Logistic AB (lessee) for the use of the central warehouse and offices including the planned expansion. Kid ASA have placed a customary parent company guarantee in favour of the lessor for an amount equal to 12 months of total rent inclusive VAT under the updated lease agreement, which is subject to an annual index regulation.", "dimensions": { "concept": "ifrs-full:DisclosureOfJointVenturesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__66": { "value": "NOTE 9 | TAXESThe tax expense for the period comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.2023 2022Current taxCurrent tax on profits for the year Norway 74,958 57,997*Current tax on profits for the year Sweden13,624 12,360Total current tax in income tax expense 88,583 70,357*Of which is prepaid during the year. Refer to reconciliation of payable tax belowChanges in deferred tax related to income tax expense 119 -689Income tax expense 88,702 69,668Reconciliation between tax expense and product of accounting profit, multiplied by the applicable tax rate:2023 2022Profit before tax 402,528 318,912Tax calculated at domestic tax rate (22%) applicable to profits 88,556 70,161Tax effects of:Expenses not deductible for tax purposes/(Income not subject to tax) -230 -4Effect of different tax rates 375 -488Other 0 -Income tax expense 88,702 69,669Tax charge in percent of profit before tax 22% 22%Reconciliation of payable taxNorway Sweden TotalPayable tax 31.12.22 57,745 0 57,744Paid taxes during the year -57,362 -33,152 -90,514Payable tax on this years result 74,958 13,624 88,583Payable tax 31.12.23 75,342 -19,528 55,813The movement in deferred income tax assets and liabilities during the year, taking into consideration the offsetting of balances within the same tax jurisdiction, is as follows: Specification of deferred tax/deferred tax assetTrademark and other Right intangible of use Deriv-At 31 December 2023 PP&Eassetsassetatives Other SumDeferred tax assets/Deferred tax liabilities (-) Norway 1,359 -321,109 8,517 -162 -823 -312,218Deferred tax assets/Deferred tax liabilities (-) Sweden 8,669 -11,613 6,414 4,626 -1,503 6,593 Net deferred tax 10,028 -332,722 14,931 4,464 -2,326 -305,625Trademark and other Right intangible of use Deriva-At 31 December 2022 PP&Eassetsassettives Other SumDeferred tax assets/Deferred tax liabilities (-) Norway 2,218 -321,109 7,450 -10 935 -348 -322,723Deferred tax assets/Deferred tax liabilities (-) Sweden 6,619 -10,837 3,862 -2,117 4,331 1,859 Net deferred tax 8,838 -331,946 11,312 -13 052 3,983 -320,865The change in net deferred tax was: 2023 2022Net deferred tax opening balance -320,865 -309,317Recognized in P&L 119 -689Recognized in OCI 22 -8,446 -35,877Recognized directly in equity 25,895 26,121Translation differences -2,328 -1,103Net deferred tax closing balance -305,624 -320,865", "dimensions": { "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__65": { "value": "NOTE 9 | TAXESThe tax expense for the period comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.2023 2022Current taxCurrent tax on profits for the year Norway 74,958 57,997*Current tax on profits for the year Sweden13,624 12,360Total current tax in income tax expense 88,583 70,357*Of which is prepaid during the year. Refer to reconciliation of payable tax belowChanges in deferred tax related to income tax expense 119 -689Income tax expense 88,702 69,668Reconciliation between tax expense and product of accounting profit, multiplied by the applicable tax rate:2023 2022Profit before tax 402,528 318,912Tax calculated at domestic tax rate (22%) applicable to profits 88,556 70,161Tax effects of:Expenses not deductible for tax purposes/(Income not subject to tax) -230 -4Effect of different tax rates 375 -488Other 0 -Income tax expense 88,702 69,669Tax charge in percent of profit before tax 22% 22%Reconciliation of payable taxNorway Sweden TotalPayable tax 31.12.22 57,745 0 57,744Paid taxes during the year -57,362 -33,152 -90,514Payable tax on this years result 74,958 13,624 88,583Payable tax 31.12.23 75,342 -19,528 55,813The movement in deferred income tax assets and liabilities during the year, taking into consideration the offsetting of balances within the same tax jurisdiction, is as follows: Specification of deferred tax/deferred tax assetTrademark and other Right intangible of use Deriv-At 31 December 2023 PP&Eassetsassetatives Other SumDeferred tax assets/Deferred tax liabilities (-) Norway 1,359 -321,109 8,517 -162 -823 -312,218Deferred tax assets/Deferred tax liabilities (-) Sweden 8,669 -11,613 6,414 4,626 -1,503 6,593 Net deferred tax 10,028 -332,722 14,931 4,464 -2,326 -305,625Trademark and other Right intangible of use Deriva-At 31 December 2022 PP&Eassetsassettives Other SumDeferred tax assets/Deferred tax liabilities (-) Norway 2,218 -321,109 7,450 -10 935 -348 -322,723Deferred tax assets/Deferred tax liabilities (-) Sweden 6,619 -10,837 3,862 -2,117 4,331 1,859 Net deferred tax 8,838 -331,946 11,312 -13 052 3,983 -320,865The change in net deferred tax was: 2023 2022Net deferred tax opening balance -320,865 -309,317Recognized in P&L 119 -689Recognized in OCI 22 -8,446 -35,877Recognized directly in equity 25,895 26,121Translation differences -2,328 -1,103Net deferred tax closing balance -305,624 -320,865", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__64": { "value": "NOTE 9 | TAXESThe tax expense for the period comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.2023 2022Current taxCurrent tax on profits for the year Norway 74,958 57,997*Current tax on profits for the year Sweden13,624 12,360Total current tax in income tax expense 88,583 70,357*Of which is prepaid during the year. Refer to reconciliation of payable tax belowChanges in deferred tax related to income tax expense 119 -689Income tax expense 88,702 69,668Reconciliation between tax expense and product of accounting profit, multiplied by the applicable tax rate:2023 2022Profit before tax 402,528 318,912Tax calculated at domestic tax rate (22%) applicable to profits 88,556 70,161Tax effects of:Expenses not deductible for tax purposes/(Income not subject to tax) -230 -4Effect of different tax rates 375 -488Other 0 -Income tax expense 88,702 69,669Tax charge in percent of profit before tax 22% 22%Reconciliation of payable taxNorway Sweden TotalPayable tax 31.12.22 57,745 0 57,744Paid taxes during the year -57,362 -33,152 -90,514Payable tax on this years result 74,958 13,624 88,583Payable tax 31.12.23 75,342 -19,528 55,813The movement in deferred income tax assets and liabilities during the year, taking into consideration the offsetting of balances within the same tax jurisdiction, is as follows: Specification of deferred tax/deferred tax assetTrademark and other Right intangible of use Deriv-At 31 December 2023 PP&Eassetsassetatives Other SumDeferred tax assets/Deferred tax liabilities (-) Norway 1,359 -321,109 8,517 -162 -823 -312,218Deferred tax assets/Deferred tax liabilities (-) Sweden 8,669 -11,613 6,414 4,626 -1,503 6,593 Net deferred tax 10,028 -332,722 14,931 4,464 -2,326 -305,625Trademark and other Right intangible of use Deriva-At 31 December 2022 PP&Eassetsassettives Other SumDeferred tax assets/Deferred tax liabilities (-) Norway 2,218 -321,109 7,450 -10 935 -348 -322,723Deferred tax assets/Deferred tax liabilities (-) Sweden 6,619 -10,837 3,862 -2,117 4,331 1,859 Net deferred tax 8,838 -331,946 11,312 -13 052 3,983 -320,865The change in net deferred tax was: 2023 2022Net deferred tax opening balance -320,865 -309,317Recognized in P&L 119 -689Recognized in OCI 22 -8,446 -35,877Recognized directly in equity 25,895 26,121Translation differences -2,328 -1,103Net deferred tax closing balance -305,624 -320,865", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__68": { "value": "The tax expense for the period comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__67": { "value": "The tax expense for the period comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__69": { "value": "NOTE 10 | EARNINGS PER SHAREThere exists only one class of shares.2023 2022Weighted average number of shares 40,645,162 40 645,162Net profit for the year 313,827 249,244Earnings per share (basic and diluted) (Expressed in NOK per share) 7.72 6.13Dividends per share paid in May 3.00 4.00 Dividends per share paid in November (December) 2.75 2.50* See note 3.2 for proposed dividend at year end. Dividend distributions to the shareholders is recognised as a liability in the Group financial statements in the period in which the dividends are approved by the shareholders at the annual shareholder meeting.", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__72": { "value": "NOTE 11 | PROPERTY, PLANT AND EQUIPMENTProperty, plant and equipment is stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Cost may also include transfers from equity of any gains/losses on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment. Depreciation on assets is calculated using the straight-line method to allocate their cost or revalued amounts to their residual values over their estimated useful lives, as follows:Leased movables and shop fittings 5 yearsFixtures 3-5 yearsAssets under Fixtures and constructionfittings Autostore TotalYear ended 31 December 2023Opening net book amount 29,596 192,222 15,426 237,245Additions 11,128 89,704 42,843 143,676Reclassifications 0 0 -Depreciation charge 0 -74,659 -9,688 -84,347Currency translation differences 0 7,459 -855 6,604Closing net book amount 40,724 214,726 47,726 303,178At 31 December 2023Cost or valuation 40,724 875,005 74,020 989,749Accumulated depreciation 0 -654,310 -25,439 -679,748Currency translation differences 0 -5,969 -855 -6,824Net book amount 40,724 214,726 47,726 303,178Year ended 31 December 2022Opening net book amount 2,646 178,850 21,661 203,157Additions 26,949 81,905 0 108,854Reclassifications 0 0 0Depreciation charge - -64,666 -6,235 -70,901Currency translation differences - -3,867 0 -3,867Closing net book amount 29,596 192,222 15,426 237,245At 31 December 2022Cost or valuation 29,596 785,301 31,177 846,074Accumulated depreciation - -579,651 -15,751 -595,402Currency translation differences - -13,428 0 -13,428Net book amount 29,596 192,222 15,426 237,245Assets under construction relates to fixed assets not ready for use, mainly related to store refurbishings. As such, these items are not depreciated until ready for use.An asset's carrying amount is written down immediately to its recoverable amount if the asset's carrying amount is greater than its estimated recoverable amount. Indicators of impairment of property, plant and equipment have been assessed and management concluded that there were no indicators as per 31 December 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__71": { "value": "NOTE 11 | PROPERTY, PLANT AND EQUIPMENTProperty, plant and equipment is stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Cost may also include transfers from equity of any gains/losses on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment. Depreciation on assets is calculated using the straight-line method to allocate their cost or revalued amounts to their residual values over their estimated useful lives, as follows:Leased movables and shop fittings 5 yearsFixtures 3-5 yearsAssets under Fixtures and constructionfittings Autostore TotalYear ended 31 December 2023Opening net book amount 29,596 192,222 15,426 237,245Additions 11,128 89,704 42,843 143,676Reclassifications 0 0 -Depreciation charge 0 -74,659 -9,688 -84,347Currency translation differences 0 7,459 -855 6,604Closing net book amount 40,724 214,726 47,726 303,178At 31 December 2023Cost or valuation 40,724 875,005 74,020 989,749Accumulated depreciation 0 -654,310 -25,439 -679,748Currency translation differences 0 -5,969 -855 -6,824Net book amount 40,724 214,726 47,726 303,178Year ended 31 December 2022Opening net book amount 2,646 178,850 21,661 203,157Additions 26,949 81,905 0 108,854Reclassifications 0 0 0Depreciation charge - -64,666 -6,235 -70,901Currency translation differences - -3,867 0 -3,867Closing net book amount 29,596 192,222 15,426 237,245At 31 December 2022Cost or valuation 29,596 785,301 31,177 846,074Accumulated depreciation - -579,651 -15,751 -595,402Currency translation differences - -13,428 0 -13,428Net book amount 29,596 192,222 15,426 237,245Assets under construction relates to fixed assets not ready for use, mainly related to store refurbishings. As such, these items are not depreciated until ready for use.An asset's carrying amount is written down immediately to its recoverable amount if the asset's carrying amount is greater than its estimated recoverable amount. Indicators of impairment of property, plant and equipment have been assessed and management concluded that there were no indicators as per 31 December 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__74": { "value": "Property, plant and equipment is stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Cost may also include transfers from equity of any gains/losses on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment. Depreciation on assets is calculated using the straight-line method to allocate their cost or revalued amounts to their residual values over their estimated useful lives, as follows:Leased movables and shop fittings 5 yearsFixtures 3-5 years", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__73": { "value": "Property, plant and equipment is stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Cost may also include transfers from equity of any gains/losses on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment. Depreciation on assets is calculated using the straight-line method to allocate their cost or revalued amounts to their residual values over their estimated useful lives, as follows:Leased movables and shop fittings 5 yearsFixtures 3-5 years", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__78": { "value": "NOTE 12 | INTANGIBLE ASSETSGoodwill on acquisitions of subsidiaries is included in intangible assets. Goodwill is not amortised but it is tested for impairment annually, or more frequently if events or changes in circumstances indicate that it might be impaired, and is carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. Goodwill is allocated to cash-generating units for the purpose of impairment testing. The allocation is made to those cash-generating units or groups of cash-generating units that are expected to benefit from the business combination in which the goodwill arose. The units or groups of units are identified at the lowest level at which goodwill is monitored for internal management purposes, being the operating segments KID and Hemtex.Separately acquired trademarks and licences are shown at historical cost. Trademarks and licences acquired in a business combination are recognised at fair value at the acquisition date. Amortisation is calculated using the straight-line method to allocate the cost of licences over their estimated useful lives of 9 to 10 years. Trademarks (\"Kid Interior\" brand name) have an indefinite useful life.Acquired computer software licences are capitalised on the basis of the costs incurred to acquire and bring into use the specific software. These costs are amortised over their estimated useful lives of four to seven years.Cost Software Trademark Goodwill TotalAt 1 January 2022 44,371 1,511,788 70,286 1,626,446 Additions 20,871 - - 20,871 Reclassification - - - - Currency translation differences -775 -1,564 -4,807 -7,146 As at 31 December 2022 64,467 1,510,224 65,479 1,640,171 Additions 17,110 17,110 Reclassification - Currency translation differences 2,492 3,627 4,690 10,809 As at 31 December 2023 84,069 1,513,851 70,169 1,668,090 Accumulated amortisation and impairmentAt 1 January 2022 -25,273 - - -25,273 Amortisation charge -3,865 - - -3,865 As at 31 December 2022 -29,138 - - -29,138 At 1 January 2023 -29,138 - - -29,138 Amortisation charge -8,229 - - -8,229 As at 31 December 2023 -37,367 - - -37,367 Net book valueCost 64,468 1,510,224 65,479 1,640,171 Accumulated amortisation and impairment -29,140 - - -29,140 As at 31 December 2022 35,327 1,510,224 65,479 1,611,030 Cost 84,069 1,513,851 70,169 1,668,089 Accumulated amortisation and impairment -37,369 - - -37,370 As at 31 December 2023 46,699 1,513,851 70,169 1,630,719 Useful life 4-7 years Indefinite IndefiniteImpairment tests for trademark and goodwillThe group tests whether trademark and goodwill has suffered any impairment on an annual basis. The recoverable amount is determined based on value-in-use calculations which require the use of assumptions. The calculations use cash flow projections based on financial budgets and assumptions approved by board covering a five-year period. Cash flows beyond the five-year period are extrapolated using an estimated growth rate of 1.5% (1%). These growth rates are consistent with forecasts included in industry reports.Trademark Kid InteriorThe trademark Kid was acquired in 2005 and is related to the original cost of the subsidiaries and the company brand Kid Interi\u00f8r. Kid Interi\u00f8r was founded in 1937 and has long traditions within its business area. Kid Interi\u00f8r is a well known brand among the population in Norway and there is a clear intention to retain and further develop this brand. As a consequence, the brand name is not amortised, but tested for impairment annually.The following table sets out the key assumptions used in the impairment test: 2023 2022Sales volume (% annual growth rate) 3.0 1.6 Gross margin (%) 61.0 60.9 Other operating costs (%) 45.0 45.2 Annual capital expenditure (MNOK) 75.0 50.0Discount rate before tax (%) 10.8 10.3 The recoverable amount of the trademark is estimated to be MNOK 3016 (2022 \u2013 MNOK 2755). This exceeds the carrying amount of the trademark Kid Interi\u00f8r at 31 December 2023 which is MNOK 1460 (2022 \u2013 MNOK 1460)The recoverable amount of the trademark would equal the carrying amount if the key assumptions were to change as follows:2023 2022From To From ToSales volume (% annual growth rate) 3.0 0.1 1.6 -0.7Budgeted gross margin (%) 60.1 55.2 60.9 56.0Discount rate pre tax (%) 10.8 16.2 10.3 16.2The Directors and management have considered and assessed reasonably possible changes for other key assumptions and have not identified any instances that could cause the carrying amount of the trademark to exceed its recoverable amount. These considerations and assessments includes sustainability topics with possible financial materiality. Trademark and goodwill HemtexThe trademark Hemtex was acquired in May 2019 and relates to the Swedish interior goods retailer Hemtex International and its subsidiaries in Finland and Estonia. Hemtex was founded in 1973 and has long traditions within its business area. Hemtex is a well known brand among the population and there is a clear intention to retain and further develop this brand. As a consequence, the brand name is not amortised, but will be tested for impairment annually. The group has tested whether the trademark and goodwill for impairment at year end. The following table sets out the key assumptions used in the impairment test: 2023 2022Sales volume (% annual growth rate) 3.0 2.2Gross margin (%) 61.0 61.0Other operating costs (% of revenue) 51.5 50.3Annual capital expenditure (MNOK) 50.0 50.0Discount rate pre tax (%) 10.2 10.1 The recoverable amount of the trademark and goodwill is estimated to be MNOK 890 (MNOK 891). This exceeds the carrying amount of the trademark and goodwill in Hemtex at 31 December 2023 which is MNOK 124,4 (MNOK 116).The recoverable amount of the trademark and goodwill would equal its carrying amount if the key assumptions were to change as follows:2023 2022From To From ToSales volume (% annual growth rate) 3.0 1.1 2.2 -0.1Budgeted gross margin (%) 61.0 57.0 61.0 57.0Discount rate pre tax (%) 10.2 30.0 10.1 30.2The Directors and management have considered and assessed reasonably possible changes for other key assumptions and have not identified any instances that could cause the carrying amount of the trademark to exceed its recoverable amount.", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__77": { "value": "NOTE 12 | INTANGIBLE ASSETSGoodwill on acquisitions of subsidiaries is included in intangible assets. Goodwill is not amortised but it is tested for impairment annually, or more frequently if events or changes in circumstances indicate that it might be impaired, and is carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. Goodwill is allocated to cash-generating units for the purpose of impairment testing. The allocation is made to those cash-generating units or groups of cash-generating units that are expected to benefit from the business combination in which the goodwill arose. The units or groups of units are identified at the lowest level at which goodwill is monitored for internal management purposes, being the operating segments KID and Hemtex.Separately acquired trademarks and licences are shown at historical cost. Trademarks and licences acquired in a business combination are recognised at fair value at the acquisition date. Amortisation is calculated using the straight-line method to allocate the cost of licences over their estimated useful lives of 9 to 10 years. Trademarks (\"Kid Interior\" brand name) have an indefinite useful life.Acquired computer software licences are capitalised on the basis of the costs incurred to acquire and bring into use the specific software. These costs are amortised over their estimated useful lives of four to seven years.Cost Software Trademark Goodwill TotalAt 1 January 2022 44,371 1,511,788 70,286 1,626,446 Additions 20,871 - - 20,871 Reclassification - - - - Currency translation differences -775 -1,564 -4,807 -7,146 As at 31 December 2022 64,467 1,510,224 65,479 1,640,171 Additions 17,110 17,110 Reclassification - Currency translation differences 2,492 3,627 4,690 10,809 As at 31 December 2023 84,069 1,513,851 70,169 1,668,090 Accumulated amortisation and impairmentAt 1 January 2022 -25,273 - - -25,273 Amortisation charge -3,865 - - -3,865 As at 31 December 2022 -29,138 - - -29,138 At 1 January 2023 -29,138 - - -29,138 Amortisation charge -8,229 - - -8,229 As at 31 December 2023 -37,367 - - -37,367 Net book valueCost 64,468 1,510,224 65,479 1,640,171 Accumulated amortisation and impairment -29,140 - - -29,140 As at 31 December 2022 35,327 1,510,224 65,479 1,611,030 Cost 84,069 1,513,851 70,169 1,668,089 Accumulated amortisation and impairment -37,369 - - -37,370 As at 31 December 2023 46,699 1,513,851 70,169 1,630,719 Useful life 4-7 years Indefinite IndefiniteImpairment tests for trademark and goodwillThe group tests whether trademark and goodwill has suffered any impairment on an annual basis. The recoverable amount is determined based on value-in-use calculations which require the use of assumptions. The calculations use cash flow projections based on financial budgets and assumptions approved by board covering a five-year period. Cash flows beyond the five-year period are extrapolated using an estimated growth rate of 1.5% (1%). These growth rates are consistent with forecasts included in industry reports.Trademark Kid InteriorThe trademark Kid was acquired in 2005 and is related to the original cost of the subsidiaries and the company brand Kid Interi\u00f8r. Kid Interi\u00f8r was founded in 1937 and has long traditions within its business area. Kid Interi\u00f8r is a well known brand among the population in Norway and there is a clear intention to retain and further develop this brand. As a consequence, the brand name is not amortised, but tested for impairment annually.The following table sets out the key assumptions used in the impairment test: 2023 2022Sales volume (% annual growth rate) 3.0 1.6 Gross margin (%) 61.0 60.9 Other operating costs (%) 45.0 45.2 Annual capital expenditure (MNOK) 75.0 50.0Discount rate before tax (%) 10.8 10.3 The recoverable amount of the trademark is estimated to be MNOK 3016 (2022 \u2013 MNOK 2755). This exceeds the carrying amount of the trademark Kid Interi\u00f8r at 31 December 2023 which is MNOK 1460 (2022 \u2013 MNOK 1460)The recoverable amount of the trademark would equal the carrying amount if the key assumptions were to change as follows:2023 2022From To From ToSales volume (% annual growth rate) 3.0 0.1 1.6 -0.7Budgeted gross margin (%) 60.1 55.2 60.9 56.0Discount rate pre tax (%) 10.8 16.2 10.3 16.2The Directors and management have considered and assessed reasonably possible changes for other key assumptions and have not identified any instances that could cause the carrying amount of the trademark to exceed its recoverable amount. These considerations and assessments includes sustainability topics with possible financial materiality. Trademark and goodwill HemtexThe trademark Hemtex was acquired in May 2019 and relates to the Swedish interior goods retailer Hemtex International and its subsidiaries in Finland and Estonia. Hemtex was founded in 1973 and has long traditions within its business area. Hemtex is a well known brand among the population and there is a clear intention to retain and further develop this brand. As a consequence, the brand name is not amortised, but will be tested for impairment annually. The group has tested whether the trademark and goodwill for impairment at year end. The following table sets out the key assumptions used in the impairment test: 2023 2022Sales volume (% annual growth rate) 3.0 2.2Gross margin (%) 61.0 61.0Other operating costs (% of revenue) 51.5 50.3Annual capital expenditure (MNOK) 50.0 50.0Discount rate pre tax (%) 10.2 10.1 The recoverable amount of the trademark and goodwill is estimated to be MNOK 890 (MNOK 891). This exceeds the carrying amount of the trademark and goodwill in Hemtex at 31 December 2023 which is MNOK 124,4 (MNOK 116).The recoverable amount of the trademark and goodwill would equal its carrying amount if the key assumptions were to change as follows:2023 2022From To From ToSales volume (% annual growth rate) 3.0 1.1 2.2 -0.1Budgeted gross margin (%) 61.0 57.0 61.0 57.0Discount rate pre tax (%) 10.2 30.0 10.1 30.2The Directors and management have considered and assessed reasonably possible changes for other key assumptions and have not identified any instances that could cause the carrying amount of the trademark to exceed its recoverable amount.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__76": { "value": "NOTE 12 | INTANGIBLE ASSETSGoodwill on acquisitions of subsidiaries is included in intangible assets. Goodwill is not amortised but it is tested for impairment annually, or more frequently if events or changes in circumstances indicate that it might be impaired, and is carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. Goodwill is allocated to cash-generating units for the purpose of impairment testing. The allocation is made to those cash-generating units or groups of cash-generating units that are expected to benefit from the business combination in which the goodwill arose. The units or groups of units are identified at the lowest level at which goodwill is monitored for internal management purposes, being the operating segments KID and Hemtex.Separately acquired trademarks and licences are shown at historical cost. Trademarks and licences acquired in a business combination are recognised at fair value at the acquisition date. Amortisation is calculated using the straight-line method to allocate the cost of licences over their estimated useful lives of 9 to 10 years. Trademarks (\"Kid Interior\" brand name) have an indefinite useful life.Acquired computer software licences are capitalised on the basis of the costs incurred to acquire and bring into use the specific software. These costs are amortised over their estimated useful lives of four to seven years.Cost Software Trademark Goodwill TotalAt 1 January 2022 44,371 1,511,788 70,286 1,626,446 Additions 20,871 - - 20,871 Reclassification - - - - Currency translation differences -775 -1,564 -4,807 -7,146 As at 31 December 2022 64,467 1,510,224 65,479 1,640,171 Additions 17,110 17,110 Reclassification - Currency translation differences 2,492 3,627 4,690 10,809 As at 31 December 2023 84,069 1,513,851 70,169 1,668,090 Accumulated amortisation and impairmentAt 1 January 2022 -25,273 - - -25,273 Amortisation charge -3,865 - - -3,865 As at 31 December 2022 -29,138 - - -29,138 At 1 January 2023 -29,138 - - -29,138 Amortisation charge -8,229 - - -8,229 As at 31 December 2023 -37,367 - - -37,367 Net book valueCost 64,468 1,510,224 65,479 1,640,171 Accumulated amortisation and impairment -29,140 - - -29,140 As at 31 December 2022 35,327 1,510,224 65,479 1,611,030 Cost 84,069 1,513,851 70,169 1,668,089 Accumulated amortisation and impairment -37,369 - - -37,370 As at 31 December 2023 46,699 1,513,851 70,169 1,630,719 Useful life 4-7 years Indefinite IndefiniteImpairment tests for trademark and goodwillThe group tests whether trademark and goodwill has suffered any impairment on an annual basis. The recoverable amount is determined based on value-in-use calculations which require the use of assumptions. The calculations use cash flow projections based on financial budgets and assumptions approved by board covering a five-year period. Cash flows beyond the five-year period are extrapolated using an estimated growth rate of 1.5% (1%). These growth rates are consistent with forecasts included in industry reports.Trademark Kid InteriorThe trademark Kid was acquired in 2005 and is related to the original cost of the subsidiaries and the company brand Kid Interi\u00f8r. Kid Interi\u00f8r was founded in 1937 and has long traditions within its business area. Kid Interi\u00f8r is a well known brand among the population in Norway and there is a clear intention to retain and further develop this brand. As a consequence, the brand name is not amortised, but tested for impairment annually.The following table sets out the key assumptions used in the impairment test: 2023 2022Sales volume (% annual growth rate) 3.0 1.6 Gross margin (%) 61.0 60.9 Other operating costs (%) 45.0 45.2 Annual capital expenditure (MNOK) 75.0 50.0Discount rate before tax (%) 10.8 10.3 The recoverable amount of the trademark is estimated to be MNOK 3016 (2022 \u2013 MNOK 2755). This exceeds the carrying amount of the trademark Kid Interi\u00f8r at 31 December 2023 which is MNOK 1460 (2022 \u2013 MNOK 1460)The recoverable amount of the trademark would equal the carrying amount if the key assumptions were to change as follows:2023 2022From To From ToSales volume (% annual growth rate) 3.0 0.1 1.6 -0.7Budgeted gross margin (%) 60.1 55.2 60.9 56.0Discount rate pre tax (%) 10.8 16.2 10.3 16.2The Directors and management have considered and assessed reasonably possible changes for other key assumptions and have not identified any instances that could cause the carrying amount of the trademark to exceed its recoverable amount. These considerations and assessments includes sustainability topics with possible financial materiality. Trademark and goodwill HemtexThe trademark Hemtex was acquired in May 2019 and relates to the Swedish interior goods retailer Hemtex International and its subsidiaries in Finland and Estonia. Hemtex was founded in 1973 and has long traditions within its business area. Hemtex is a well known brand among the population and there is a clear intention to retain and further develop this brand. As a consequence, the brand name is not amortised, but will be tested for impairment annually. The group has tested whether the trademark and goodwill for impairment at year end. The following table sets out the key assumptions used in the impairment test: 2023 2022Sales volume (% annual growth rate) 3.0 2.2Gross margin (%) 61.0 61.0Other operating costs (% of revenue) 51.5 50.3Annual capital expenditure (MNOK) 50.0 50.0Discount rate pre tax (%) 10.2 10.1 The recoverable amount of the trademark and goodwill is estimated to be MNOK 890 (MNOK 891). This exceeds the carrying amount of the trademark and goodwill in Hemtex at 31 December 2023 which is MNOK 124,4 (MNOK 116).The recoverable amount of the trademark and goodwill would equal its carrying amount if the key assumptions were to change as follows:2023 2022From To From ToSales volume (% annual growth rate) 3.0 1.1 2.2 -0.1Budgeted gross margin (%) 61.0 57.0 61.0 57.0Discount rate pre tax (%) 10.2 30.0 10.1 30.2The Directors and management have considered and assessed reasonably possible changes for other key assumptions and have not identified any instances that could cause the carrying amount of the trademark to exceed its recoverable amount.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__75": { "value": "NOTE 12 | INTANGIBLE ASSETSGoodwill on acquisitions of subsidiaries is included in intangible assets. Goodwill is not amortised but it is tested for impairment annually, or more frequently if events or changes in circumstances indicate that it might be impaired, and is carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. Goodwill is allocated to cash-generating units for the purpose of impairment testing. The allocation is made to those cash-generating units or groups of cash-generating units that are expected to benefit from the business combination in which the goodwill arose. The units or groups of units are identified at the lowest level at which goodwill is monitored for internal management purposes, being the operating segments KID and Hemtex.Separately acquired trademarks and licences are shown at historical cost. Trademarks and licences acquired in a business combination are recognised at fair value at the acquisition date. Amortisation is calculated using the straight-line method to allocate the cost of licences over their estimated useful lives of 9 to 10 years. Trademarks (\"Kid Interior\" brand name) have an indefinite useful life.Acquired computer software licences are capitalised on the basis of the costs incurred to acquire and bring into use the specific software. These costs are amortised over their estimated useful lives of four to seven years.Cost Software Trademark Goodwill TotalAt 1 January 2022 44,371 1,511,788 70,286 1,626,446 Additions 20,871 - - 20,871 Reclassification - - - - Currency translation differences -775 -1,564 -4,807 -7,146 As at 31 December 2022 64,467 1,510,224 65,479 1,640,171 Additions 17,110 17,110 Reclassification - Currency translation differences 2,492 3,627 4,690 10,809 As at 31 December 2023 84,069 1,513,851 70,169 1,668,090 Accumulated amortisation and impairmentAt 1 January 2022 -25,273 - - -25,273 Amortisation charge -3,865 - - -3,865 As at 31 December 2022 -29,138 - - -29,138 At 1 January 2023 -29,138 - - -29,138 Amortisation charge -8,229 - - -8,229 As at 31 December 2023 -37,367 - - -37,367 Net book valueCost 64,468 1,510,224 65,479 1,640,171 Accumulated amortisation and impairment -29,140 - - -29,140 As at 31 December 2022 35,327 1,510,224 65,479 1,611,030 Cost 84,069 1,513,851 70,169 1,668,089 Accumulated amortisation and impairment -37,369 - - -37,370 As at 31 December 2023 46,699 1,513,851 70,169 1,630,719 Useful life 4-7 years Indefinite IndefiniteImpairment tests for trademark and goodwillThe group tests whether trademark and goodwill has suffered any impairment on an annual basis. The recoverable amount is determined based on value-in-use calculations which require the use of assumptions. The calculations use cash flow projections based on financial budgets and assumptions approved by board covering a five-year period. Cash flows beyond the five-year period are extrapolated using an estimated growth rate of 1.5% (1%). These growth rates are consistent with forecasts included in industry reports.Trademark Kid InteriorThe trademark Kid was acquired in 2005 and is related to the original cost of the subsidiaries and the company brand Kid Interi\u00f8r. Kid Interi\u00f8r was founded in 1937 and has long traditions within its business area. Kid Interi\u00f8r is a well known brand among the population in Norway and there is a clear intention to retain and further develop this brand. As a consequence, the brand name is not amortised, but tested for impairment annually.The following table sets out the key assumptions used in the impairment test: 2023 2022Sales volume (% annual growth rate) 3.0 1.6 Gross margin (%) 61.0 60.9 Other operating costs (%) 45.0 45.2 Annual capital expenditure (MNOK) 75.0 50.0Discount rate before tax (%) 10.8 10.3 The recoverable amount of the trademark is estimated to be MNOK 3016 (2022 \u2013 MNOK 2755). This exceeds the carrying amount of the trademark Kid Interi\u00f8r at 31 December 2023 which is MNOK 1460 (2022 \u2013 MNOK 1460)The recoverable amount of the trademark would equal the carrying amount if the key assumptions were to change as follows:2023 2022From To From ToSales volume (% annual growth rate) 3.0 0.1 1.6 -0.7Budgeted gross margin (%) 60.1 55.2 60.9 56.0Discount rate pre tax (%) 10.8 16.2 10.3 16.2The Directors and management have considered and assessed reasonably possible changes for other key assumptions and have not identified any instances that could cause the carrying amount of the trademark to exceed its recoverable amount. These considerations and assessments includes sustainability topics with possible financial materiality. Trademark and goodwill HemtexThe trademark Hemtex was acquired in May 2019 and relates to the Swedish interior goods retailer Hemtex International and its subsidiaries in Finland and Estonia. Hemtex was founded in 1973 and has long traditions within its business area. Hemtex is a well known brand among the population and there is a clear intention to retain and further develop this brand. As a consequence, the brand name is not amortised, but will be tested for impairment annually. The group has tested whether the trademark and goodwill for impairment at year end. The following table sets out the key assumptions used in the impairment test: 2023 2022Sales volume (% annual growth rate) 3.0 2.2Gross margin (%) 61.0 61.0Other operating costs (% of revenue) 51.5 50.3Annual capital expenditure (MNOK) 50.0 50.0Discount rate pre tax (%) 10.2 10.1 The recoverable amount of the trademark and goodwill is estimated to be MNOK 890 (MNOK 891). This exceeds the carrying amount of the trademark and goodwill in Hemtex at 31 December 2023 which is MNOK 124,4 (MNOK 116).The recoverable amount of the trademark and goodwill would equal its carrying amount if the key assumptions were to change as follows:2023 2022From To From ToSales volume (% annual growth rate) 3.0 1.1 2.2 -0.1Budgeted gross margin (%) 61.0 57.0 61.0 57.0Discount rate pre tax (%) 10.2 30.0 10.1 30.2The Directors and management have considered and assessed reasonably possible changes for other key assumptions and have not identified any instances that could cause the carrying amount of the trademark to exceed its recoverable amount.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__80": { "value": "Goodwill on acquisitions of subsidiaries is included in intangible assets. Goodwill is not amortised but it is tested for impairment annually, or more frequently if events or changes in circumstances indicate that it might be impaired, and is carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. Goodwill is allocated to cash-generating units for the purpose of impairment testing. The allocation is made to those cash-generating units or groups of cash-generating units that are expected to benefit from the business combination in which the goodwill arose. The units or groups of units are identified at the lowest level at which goodwill is monitored for internal management purposes, being the operating segments KID and Hemtex.Separately acquired trademarks and licences are shown at historical cost. Trademarks and licences acquired in a business combination are recognised at fair value at the acquisition date. Amortisation is calculated using the straight-line method to allocate the cost of licences over their estimated useful lives of 9 to 10 years. Trademarks (\"Kid Interior\" brand name) have an indefinite useful life.Acquired computer software licences are capitalised on the basis of the costs incurred to acquire and bring into use the specific software. These costs are amortised over their estimated useful lives of four to seven years.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__79": { "value": "Goodwill on acquisitions of subsidiaries is included in intangible assets. Goodwill is not amortised but it is tested for impairment annually, or more frequently if events or changes in circumstances indicate that it might be impaired, and is carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. Goodwill is allocated to cash-generating units for the purpose of impairment testing. The allocation is made to those cash-generating units or groups of cash-generating units that are expected to benefit from the business combination in which the goodwill arose. The units or groups of units are identified at the lowest level at which goodwill is monitored for internal management purposes, being the operating segments KID and Hemtex.Separately acquired trademarks and licences are shown at historical cost. Trademarks and licences acquired in a business combination are recognised at fair value at the acquisition date. Amortisation is calculated using the straight-line method to allocate the cost of licences over their estimated useful lives of 9 to 10 years. Trademarks (\"Kid Interior\" brand name) have an indefinite useful life.Acquired computer software licences are capitalised on the basis of the costs incurred to acquire and bring into use the specific software. These costs are amortised over their estimated useful lives of four to seven years.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__89-1": { "value": "NOTE 13 | FINANCIAL INSTRUMENTSThe Group classifies its financial assets in the following categories: at fair value (either through OCI or profit or loss) or amortised cost. The classification is based on the SPPI model (Solely payments of principal and interest) in IFRS 9 and based on the Groups business model.(a) Financial assets at fair value through profit or lossFinancial assets at fair value through profit or loss are derivative instruments not designated as hedging instruments. TheGroup currently have one cross currency interest swap contract defined as financial asset at fair value through profit or loss. (b) Financial assets at amortised costTrade receivables, based on the classification model SPPI are held at amortized cost. All trade receivables are classifiedas current assets.(c) Financial assets at fair value through other comprehensive incomeFinancial assets at fair value through OCI are derivative instruments designated as hedging instruments. The Groupcurrently have one interest swap contract and several currency forward contracts defined as financial asset at fair valuethrough OCI.13.1 Financial instruments by category31 December 2023Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 28,991 346 29,337Trade receivables 32,640 - 32,640Cash and bank deposits 225,065 - 225,065Total 257,706 28,991 346 287,043Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 491,661 491,661Long term lease liability 779,287 779,287Short term liabilities to financial institutions 30,000 30,000Short term lease liability 305,640 305,640Derivatives 53,748 53,748Trade creditors 203,375 203,375Total 1,809,963 53,748 1,863,71131 December 2022Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 54,778 4,672 59,450Trade receivables 12,094 - 12,094Cash and bank deposits 75,721 - 75,721Total 87,815 54,778 4,672 147,265Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 521,646 521,646Long term lease liability 523,528 523,528Short term liabilities to financial institutions 30,000 30,000Short term lease liability 258,257 258,257Derivatives 7,229 7,229Trade creditors 122,459 122,459Total 1,455,890 7,229 0 1,463,120NOTE 18 | LIABILITIES TO FINANCIAL INSTITUTIONSBorrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are subsequently carried at amortised cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognised in the income statement over the period of the borrowings using the effective interest method. Fees and commission costs paid on the establishment and maintenance of short-term bank borrowing facilities are recognised as bank transaction costs in the accounting period when the costs are paid. These costs are not amortised and deferred as the loans are usually re-paid within a few months.2023 2022Long termBank loans 491,661 521,646Total long term liabilities to financial institutions 491,661 521,646Short termBank loans 30,000 30,000Total short term liabilities to financial institutions 30,000 30,000Total liabilities to financial institutions 521,661 551,646(a) Bank loansAn additional short term credit facility agreement of MNOK 100 was signed in December 2022, and in 2023 a new revolving credit facility of MNOK 230 was signed which replaced the two existing agreements. Furthermore a new term loan has been signed during 2023 of MNOK 125 related to the expansion of the warehouse in Sweden. The bank loan mature May 2026. The interest rate of the majority of the total term loan is fixed through interest rate swap agreements. For the revolving credit facility and overdraft, the average interest rate was 5,4%Total loans include secured liabilities (bank and collateralised loan) of TNOK 521 661 (2022: TNOK 551 646) and revolving credit facility of TNOK 0 (2022: TNOK 0). The group has a bank overdraft of TNOK 247 000 which was partially used 289 days during the year (284 days), but not at year end. The Bank loans are secured by 100% of the shares in Kid Interi\u00f8r AS.TNOK 395 000 (included in the 1-5 years in table below) of the external loan with floating interest rate is swapped to a fixed interest rate of 1.876% by means of interest rate derivatives to maintain the desired split between fixed and floating interest rates and is subject to hedge accounting.TSEK 25 200 (included in the 1-5 years in table below) of the external loan with floating interest rate is swapped to fixed interest rates of 1.460% and currency SEK by means of a cross currency interest rate derivative to maintain the desired split between fixed and floating interest rates and currency exposure. The effect of change in the fair value of the derivative is booked against financial income/expense.The bank overdraft are secured by inventory, trade receivables, property, plant and equipment, 100% of the shares in Kid Logistikk AS and the rental agreement related to the HQ in Drammen. Since the bank overdraft was not utilized at year end 2023 or 2022, none of the assets were pledged as collateral.The exposure of the Group\u2019s loans to interest rate changes and the contractual re-pricing dates at the end of thereporting period are as follows:2023 20226 months or less 10,000 10,0006-12 months 20,000 20,0001-5 years 491,661 521,646Total liabilities to financial institutions 521,661 551,646The carrying amounts and fair value of the loans are as follows:2023 2022Bank loans 521,661 551,646Total carrying amount of liabilities to financial institutions 521,661 551,646The fair value of current loans equals their carrying amount, as the loans bear a floating interest priced at marketrate.Included in the 1-5 years category in the table above is a TNOK 521 700 loan, where the group entered an interest swap agreement in 2019 covering TNOK 395 000 as well as a cross-currency interest swap covering TSEK 45,000.The carrying amounts of the Group\u2019s loans are denominated in the following currencies:2023 2022NOK 496,661 496,646SEK (through swap-agreement) 25,000 55,000 Total 521,661 551,646The Group has the following granted loan facilities:2023 2022Term loan 125,000 - Revolving credit facility 230,000 130,000 Short term credit facility 100,000 Unused bank overdraft 247,000 247,000 Employee tax guarantee 21,800 21,300 Letter of credit limit 115,000 115,000 Following covenants is regulated by contract:During 2023, a new agreement has been signed with Nordea. The definition of EBITDA has been updated to match the reported figures (incl. IFRS 16) and the covenant requirement of LTM EBITDA increased to MNOK 300 accordingly.Interval Limit 2023 Limit 20222023: NIBD/EBITDA incl IFRS 16 (2022: NIBD/EBITDA annually 2.25 2.25excl IFRS 16) 2023: EBITDA Last twelve monthes (in NOK millions) quarterly 300 175incl IFRS 16 (2022: excl IFRS 16)The Group has been compliant with covenants at all intervals.NOTE 23 | NET DEBT RECONCILIATIONThe below table sets out an overview over net debt.2023 2022Cash and cash equivalents 225,065 75,721 Borrowings - repayable within one year (including overdraft) -30,000 -30,000Borrowings - repayable after one year -491,661 -521,646Lease liabilities - payed within one year -305,640 -258,257Lease liabilities - payed after one year -779,287 -523,528Net debt -1,381,522 -1,257,710Cash and liquid investments 225,065 75,721Gross debt - fixed interest rates -521,661 -551,646Gross debt - variable interest rates - 0Lease liabilities -1,084,927 -781,785Net debt -1,381,522 -1,257,710Lease Cash / bank Total net liabilty Borrowings Total debtoverdraftdebtOpening balanse at 1 January 2023 -781,785 -551,646 -1,333,431 75,721 -1,257,710 Cash flows - - - 140,257 140,257 Proceeds from borrowings - -160,000 -160,000 - -160,000 Repayment of principals 296,250 190,000 486,250 - 486,250 - Non Cashflow activities - New lease liabilities -573,430 - -573,430 - -573,430 Foreign exchange adjustments and other -25,962 -15 -25,977 9,087 -16,890 adjustmentsClosing balanse at 31 December 2023 -1,084,927 -521,661 -1,606,588 225,065 -1,381,522 Opening balanse at 1 January 2022 -767,287 -546,628 -1,313,915 239,331 -1,074,584 Cash flows - - - -164,302 -164,302 Proceeds from borrowings - -230,000 -230,000 - -230,000 Repayment of principals 263,350 225,119 488,469 - 488,469 - Non Cashflow activities - New lease liabilities -283,391 - -283,391 - -283,391 Foreign exchange adjustments and other 5,543 -137 5,406 693 6,099 adjustmentsClosing balanse at 31 December 2022 -781,785 -551,646 -1,333,431 75,721 -1,257,710", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__88-1": { "value": "NOTE 13 | FINANCIAL INSTRUMENTSThe Group classifies its financial assets in the following categories: at fair value (either through OCI or profit or loss) or amortised cost. The classification is based on the SPPI model (Solely payments of principal and interest) in IFRS 9 and based on the Groups business model.(a) Financial assets at fair value through profit or lossFinancial assets at fair value through profit or loss are derivative instruments not designated as hedging instruments. TheGroup currently have one cross currency interest swap contract defined as financial asset at fair value through profit or loss. (b) Financial assets at amortised costTrade receivables, based on the classification model SPPI are held at amortized cost. All trade receivables are classifiedas current assets.(c) Financial assets at fair value through other comprehensive incomeFinancial assets at fair value through OCI are derivative instruments designated as hedging instruments. The Groupcurrently have one interest swap contract and several currency forward contracts defined as financial asset at fair valuethrough OCI.13.1 Financial instruments by category31 December 2023Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 28,991 346 29,337Trade receivables 32,640 - 32,640Cash and bank deposits 225,065 - 225,065Total 257,706 28,991 346 287,043Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 491,661 491,661Long term lease liability 779,287 779,287Short term liabilities to financial institutions 30,000 30,000Short term lease liability 305,640 305,640Derivatives 53,748 53,748Trade creditors 203,375 203,375Total 1,809,963 53,748 1,863,71131 December 2022Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 54,778 4,672 59,450Trade receivables 12,094 - 12,094Cash and bank deposits 75,721 - 75,721Total 87,815 54,778 4,672 147,265Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 521,646 521,646Long term lease liability 523,528 523,528Short term liabilities to financial institutions 30,000 30,000Short term lease liability 258,257 258,257Derivatives 7,229 7,229Trade creditors 122,459 122,459Total 1,455,890 7,229 0 1,463,120NOTE 16 | CASH AND CASH EQUIVALENTSFor the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the balance sheet. As of year-end 2022 and 2023 the Group did not have any outstanding bank overdrafts. Cash is initially recognised at fair value and subsequently measured at amortised cost.2023 2022Cash in bank and in hand 219,223 63,458Short-term bank overnight deposits 6,100 12,521Cash and cash equivalents (excluding bank overdrafts) 225,065 75,721The Group does not have any restricted cash bank accounts. See note 18 for further information on employee tax guarantee.", "dimensions": { "concept": "ifrs-full:DisclosureOfDepositsFromBanksExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__87": { "value": "NOTE 13 | FINANCIAL INSTRUMENTSThe Group classifies its financial assets in the following categories: at fair value (either through OCI or profit or loss) or amortised cost. The classification is based on the SPPI model (Solely payments of principal and interest) in IFRS 9 and based on the Groups business model.(a) Financial assets at fair value through profit or lossFinancial assets at fair value through profit or loss are derivative instruments not designated as hedging instruments. TheGroup currently have one cross currency interest swap contract defined as financial asset at fair value through profit or loss. (b) Financial assets at amortised costTrade receivables, based on the classification model SPPI are held at amortized cost. All trade receivables are classifiedas current assets.(c) Financial assets at fair value through other comprehensive incomeFinancial assets at fair value through OCI are derivative instruments designated as hedging instruments. The Groupcurrently have one interest swap contract and several currency forward contracts defined as financial asset at fair valuethrough OCI.13.1 Financial instruments by category31 December 2023Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 28,991 346 29,337Trade receivables 32,640 - 32,640Cash and bank deposits 225,065 - 225,065Total 257,706 28,991 346 287,043Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 491,661 491,661Long term lease liability 779,287 779,287Short term liabilities to financial institutions 30,000 30,000Short term lease liability 305,640 305,640Derivatives 53,748 53,748Trade creditors 203,375 203,375Total 1,809,963 53,748 1,863,71131 December 2022Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 54,778 4,672 59,450Trade receivables 12,094 - 12,094Cash and bank deposits 75,721 - 75,721Total 87,815 54,778 4,672 147,265Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 521,646 521,646Long term lease liability 523,528 523,528Short term liabilities to financial institutions 30,000 30,000Short term lease liability 258,257 258,257Derivatives 7,229 7,229Trade creditors 122,459 122,459Total 1,455,890 7,229 0 1,463,120", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__86": { "value": "NOTE 13 | FINANCIAL INSTRUMENTSThe Group classifies its financial assets in the following categories: at fair value (either through OCI or profit or loss) or amortised cost. The classification is based on the SPPI model (Solely payments of principal and interest) in IFRS 9 and based on the Groups business model.(a) Financial assets at fair value through profit or lossFinancial assets at fair value through profit or loss are derivative instruments not designated as hedging instruments. TheGroup currently have one cross currency interest swap contract defined as financial asset at fair value through profit or loss. (b) Financial assets at amortised costTrade receivables, based on the classification model SPPI are held at amortized cost. All trade receivables are classifiedas current assets.(c) Financial assets at fair value through other comprehensive incomeFinancial assets at fair value through OCI are derivative instruments designated as hedging instruments. The Groupcurrently have one interest swap contract and several currency forward contracts defined as financial asset at fair valuethrough OCI.13.1 Financial instruments by category31 December 2023Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 28,991 346 29,337Trade receivables 32,640 - 32,640Cash and bank deposits 225,065 - 225,065Total 257,706 28,991 346 287,043Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 491,661 491,661Long term lease liability 779,287 779,287Short term liabilities to financial institutions 30,000 30,000Short term lease liability 305,640 305,640Derivatives 53,748 53,748Trade creditors 203,375 203,375Total 1,809,963 53,748 1,863,71131 December 2022Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 54,778 4,672 59,450Trade receivables 12,094 - 12,094Cash and bank deposits 75,721 - 75,721Total 87,815 54,778 4,672 147,265Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 521,646 521,646Long term lease liability 523,528 523,528Short term liabilities to financial institutions 30,000 30,000Short term lease liability 258,257 258,257Derivatives 7,229 7,229Trade creditors 122,459 122,459Total 1,455,890 7,229 0 1,463,120", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsHeldForTradingExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__85": { "value": "NOTE 13 | FINANCIAL INSTRUMENTSThe Group classifies its financial assets in the following categories: at fair value (either through OCI or profit or loss) or amortised cost. The classification is based on the SPPI model (Solely payments of principal and interest) in IFRS 9 and based on the Groups business model.(a) Financial assets at fair value through profit or lossFinancial assets at fair value through profit or loss are derivative instruments not designated as hedging instruments. TheGroup currently have one cross currency interest swap contract defined as financial asset at fair value through profit or loss. (b) Financial assets at amortised costTrade receivables, based on the classification model SPPI are held at amortized cost. All trade receivables are classifiedas current assets.(c) Financial assets at fair value through other comprehensive incomeFinancial assets at fair value through OCI are derivative instruments designated as hedging instruments. The Groupcurrently have one interest swap contract and several currency forward contracts defined as financial asset at fair valuethrough OCI.13.1 Financial instruments by category31 December 2023Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 28,991 346 29,337Trade receivables 32,640 - 32,640Cash and bank deposits 225,065 - 225,065Total 257,706 28,991 346 287,043Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 491,661 491,661Long term lease liability 779,287 779,287Short term liabilities to financial institutions 30,000 30,000Short term lease liability 305,640 305,640Derivatives 53,748 53,748Trade creditors 203,375 203,375Total 1,809,963 53,748 1,863,71131 December 2022Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 54,778 4,672 59,450Trade receivables 12,094 - 12,094Cash and bank deposits 75,721 - 75,721Total 87,815 54,778 4,672 147,265Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 521,646 521,646Long term lease liability 523,528 523,528Short term liabilities to financial institutions 30,000 30,000Short term lease liability 258,257 258,257Derivatives 7,229 7,229Trade creditors 122,459 122,459Total 1,455,890 7,229 0 1,463,120", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialAssetsHeldForTradingExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__84-1": { "value": "NOTE 13 | FINANCIAL INSTRUMENTSThe Group classifies its financial assets in the following categories: at fair value (either through OCI or profit or loss) or amortised cost. The classification is based on the SPPI model (Solely payments of principal and interest) in IFRS 9 and based on the Groups business model.(a) Financial assets at fair value through profit or lossFinancial assets at fair value through profit or loss are derivative instruments not designated as hedging instruments. TheGroup currently have one cross currency interest swap contract defined as financial asset at fair value through profit or loss. (b) Financial assets at amortised costTrade receivables, based on the classification model SPPI are held at amortized cost. All trade receivables are classifiedas current assets.(c) Financial assets at fair value through other comprehensive incomeFinancial assets at fair value through OCI are derivative instruments designated as hedging instruments. The Groupcurrently have one interest swap contract and several currency forward contracts defined as financial asset at fair valuethrough OCI.13.1 Financial instruments by category31 December 2023Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 28,991 346 29,337Trade receivables 32,640 - 32,640Cash and bank deposits 225,065 - 225,065Total 257,706 28,991 346 287,043Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 491,661 491,661Long term lease liability 779,287 779,287Short term liabilities to financial institutions 30,000 30,000Short term lease liability 305,640 305,640Derivatives 53,748 53,748Trade creditors 203,375 203,375Total 1,809,963 53,748 1,863,71131 December 2022Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 54,778 4,672 59,450Trade receivables 12,094 - 12,094Cash and bank deposits 75,721 - 75,721Total 87,815 54,778 4,672 147,265Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 521,646 521,646Long term lease liability 523,528 523,528Short term liabilities to financial institutions 30,000 30,000Short term lease liability 258,257 258,257Derivatives 7,229 7,229Trade creditors 122,459 122,459Total 1,455,890 7,229 0 1,463,120NOTE 22 | HEDGE ACCOUNTING AND RESERVESCash flow hedge reserveWhere all relevant criteria are met, hedge accounting is applied to remove the accounting mismatch between the hedging instrument and the hedged item. This will effectively result in recognising interest expense at a fixed interest rate for the hedged floating rate loans and inventory at the fixed foreign currency rate for the hedged purchases. Derivatives are only used for economic hedging purposes and not as speculative investments.Hedge effectivenessHedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments, to ensure that an economic relationship exists between the hedged item and hedging instrument. For hedges of foreign currency purchases, the group enters into hedge relationships where the critical terms of the hedging instrument match or are closely aligned with the terms of the hedged item, being currencies, amount and maturity. The group therefore performs a qualitative assessment of effectiveness and monitor the forecasted purchases on a regular basis to ensure that the forward contracts match the purchases and are used within the acceptable period in accordance with the policy. If changes in circumstances affect the terms of the hedged item such that the critical terms no longer match exactly with the critical terms of the hedging instrument, the group assess effectiveness relating to the hedge ratio and rebalances the contracts to ensure effectiveness. In hedges of foreign currency purchases, ineffectiveness may arise if the timing of the forecast transaction changes from what was originally estimated, or if there are changes in the credit risk of the group or the derivative counterparty. The group enters into interest rate swaps that have similar critical terms as the hedged item, such as reference rate, reset dates, payment dates, maturities and notional amount. The group does not hedge 100% of its loans, therefore the hedged item is identified as a proportion of the outstanding loans up to the notional amount of the swaps. As all critical terms matched during the year, there is an economic relationship.\" Currency hedgesThe company uses hedging instruments as part of its management of foreign currency risk associated with its highly probable inventory purchases. These include foreign currency forward contracts which are designated in the cash flow hedge relationships. To the extent these hedges are effective; the change in fair value of the hedging instrument is recognised in the cash flow hedge reserve through Other comprehensive income. The group treasury\u2019s risk management policy is to hedge up to a 100% of forecasted US dollar cash flows for inventory purchases up to 9-11 months in advance, subject to a review of the cost of implementing each hedge. In Kid, 100% of forecasted EUR cash flows for inventory purchases up to 9-11 months in advance are also hedged.For the year ended 31 December 2023, approximately 100% of inventory purchases were hedged in respect of foreign currency risk. At 31 December 2023, approximately 100% of forecasted US dollar inventory purchases during 2023 qualified as \u2018highly probable\u2019 forecast transactions for hedge accounting purposes (for 2022, approximately 100% of inventory purchases were hedged and approximately 100% of the purchases qualified as \u2018highly probable\u2019 as at 31 December 2022). As such, no inefficiency was recognised in 2023 (or in 2022). The weighted average buy rate for SEK/USD currency hedges realized in 2023 was 10.12 compared to a weighted average spot rate of 10.71. For NOK/USD currency hedges realized in 2023 the weighted average buy rate was 9.63 compared to a weighted average spot rate of 10.58. \" Interest hedgesThe company\u2019s interest exposure mainly arises from external funding in bank and debt capital markets. The company uses interest rate swaps to achieve the desired fixed/floating ratio of the external debt. Hedge accounting is applied using the cash flow model for interest rate swaps which means that gains and losses from floating to fixed interest rates as of December 31, 2023 are recognized through Other Comprehensive Income and will be continuously released to the income statement until the bank borrowings are repaid. This is done based on the periodic market-to-market revaluation of the interest rate swaps whose fair value tends to reach zero upon maturity.Hedge ineffectiveness for interest rate swaps is assessed using the same principles as for hedges of foreign currency purchases. It may occur due to: the credit value/debit value adjustment on the interest rate swaps which is not matched by the loan, and differences in critical terms between the interest rate swaps and loans. TNOK 395 000 of the external loans with floating interest rates are hedged. In the interest rate swap, Kid pay a fixed interest rate of 1,876% and receive NIBOR. The swap has a duration until 16 August 2029. The effect on interest expense in 2023 related to the interest rate swap was NOK 8,238,010 ( NOK -731,562).There was no recognised ineffectiveness during 2023 (or in 2022) in relation to the interest rate swap. Currency Interest cash flow cash flow Translation Reconciliation of Other reserveshedges hedges difference Total Opening balance net of tax 01.01.2023 21,044 22,692 -13,092 30,643 Changes in fair value through OCI 38,578 -271 38,307 Changes in deferred tax on cash flow hedges through OCI -8,566 60 -8,506 Realized cash flow hedges net of tax -92,575 -92,575 Translation difference 24,559 24,559 Closing balance net of tax 31.12.2023 -41,519 22,480 11,467 -7,571 Currency Interest cash flow cash flow Translation Reconciliation of Other reserveshedges hedges difference Total Opening balance net of tax 01.01.2022 11,309 -2,163 -4,171 4,975 Changes in fair value through OCI 131,210 31,866 163,076 Changes in deferred tax on cash flow hedges through OCI -28,866 -7,010 -35,877 Realized cash flow hedges net of tax -92,609 -92,609 Translation difference -8,920 -8,920 Closing balance net of tax 31.12.2022 21,044 22,692 -13,092 30,643 At year end the fair value of the hedging instruments were as follows:Changes over OCI Changes over P&LDerivative Derivative Derivative Derivative 31 December 2023assetsliabilities assetsliabilities Currency cash flow hedges - 53,748 Interest cash flow hedges 28,991 - - Cross currency interest swap 346 Sum 28,991 53,748 346 - Changes over OCI Changes over P&LDerivative Derivative Derivative Derivative 31 December 2022assetsliabilities assetsliabilities Currency cash flow hedges 25,440 7,229 Interest cash flow hedges 29,338 - - Cross currency interest swap 4,672 Sum 54,778 7,229 4,672 -", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__83": { "value": "NOTE 13 | FINANCIAL INSTRUMENTSThe Group classifies its financial assets in the following categories: at fair value (either through OCI or profit or loss) or amortised cost. The classification is based on the SPPI model (Solely payments of principal and interest) in IFRS 9 and based on the Groups business model.(a) Financial assets at fair value through profit or lossFinancial assets at fair value through profit or loss are derivative instruments not designated as hedging instruments. TheGroup currently have one cross currency interest swap contract defined as financial asset at fair value through profit or loss. (b) Financial assets at amortised costTrade receivables, based on the classification model SPPI are held at amortized cost. All trade receivables are classifiedas current assets.(c) Financial assets at fair value through other comprehensive incomeFinancial assets at fair value through OCI are derivative instruments designated as hedging instruments. The Groupcurrently have one interest swap contract and several currency forward contracts defined as financial asset at fair valuethrough OCI.13.1 Financial instruments by category31 December 2023Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 28,991 346 29,337Trade receivables 32,640 - 32,640Cash and bank deposits 225,065 - 225,065Total 257,706 28,991 346 287,043Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 491,661 491,661Long term lease liability 779,287 779,287Short term liabilities to financial institutions 30,000 30,000Short term lease liability 305,640 305,640Derivatives 53,748 53,748Trade creditors 203,375 203,375Total 1,809,963 53,748 1,863,71131 December 2022Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 54,778 4,672 59,450Trade receivables 12,094 - 12,094Cash and bank deposits 75,721 - 75,721Total 87,815 54,778 4,672 147,265Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 521,646 521,646Long term lease liability 523,528 523,528Short term liabilities to financial institutions 30,000 30,000Short term lease liability 258,257 258,257Derivatives 7,229 7,229Trade creditors 122,459 122,459Total 1,455,890 7,229 0 1,463,120", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__81-1": { "value": "NOTE 13 | FINANCIAL INSTRUMENTSThe Group classifies its financial assets in the following categories: at fair value (either through OCI or profit or loss) or amortised cost. The classification is based on the SPPI model (Solely payments of principal and interest) in IFRS 9 and based on the Groups business model.(a) Financial assets at fair value through profit or lossFinancial assets at fair value through profit or loss are derivative instruments not designated as hedging instruments. TheGroup currently have one cross currency interest swap contract defined as financial asset at fair value through profit or loss. (b) Financial assets at amortised costTrade receivables, based on the classification model SPPI are held at amortized cost. All trade receivables are classifiedas current assets.(c) Financial assets at fair value through other comprehensive incomeFinancial assets at fair value through OCI are derivative instruments designated as hedging instruments. The Groupcurrently have one interest swap contract and several currency forward contracts defined as financial asset at fair valuethrough OCI.13.1 Financial instruments by category31 December 2023Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 28,991 346 29,337Trade receivables 32,640 - 32,640Cash and bank deposits 225,065 - 225,065Total 257,706 28,991 346 287,043Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 491,661 491,661Long term lease liability 779,287 779,287Short term liabilities to financial institutions 30,000 30,000Short term lease liability 305,640 305,640Derivatives 53,748 53,748Trade creditors 203,375 203,375Total 1,809,963 53,748 1,863,71131 December 2022Financial assets Financial assets (derivatives not desig-Financial assets (cash flow hedge nated as instruments at amortised derivatives) at fair for hedge accountin) at costvalue over OCIfair value over P&L TotalAssets as per balance sheetDerivative financial instruments - 54,778 4,672 59,450Trade receivables 12,094 - 12,094Cash and bank deposits 75,721 - 75,721Total 87,815 54,778 4,672 147,265Financial assets Financial liabilities (derivatives not desig-Other financial (cash flow hedge nated as instruments liabilities at derivatives) at fair for hedge accountin) at amortised costvalue over OCIfair value over P&L TotalLiabilities as per balance sheetLiabilities to financial institutions long term 521,646 521,646Long term lease liability 523,528 523,528Short term liabilities to financial institutions 30,000 30,000Short term lease liability 258,257 258,257Derivatives 7,229 7,229Trade creditors 122,459 122,459Total 1,455,890 7,229 0 1,463,120NOTE 22 | HEDGE ACCOUNTING AND RESERVESCash flow hedge reserveWhere all relevant criteria are met, hedge accounting is applied to remove the accounting mismatch between the hedging instrument and the hedged item. This will effectively result in recognising interest expense at a fixed interest rate for the hedged floating rate loans and inventory at the fixed foreign currency rate for the hedged purchases. Derivatives are only used for economic hedging purposes and not as speculative investments.Hedge effectivenessHedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments, to ensure that an economic relationship exists between the hedged item and hedging instrument. For hedges of foreign currency purchases, the group enters into hedge relationships where the critical terms of the hedging instrument match or are closely aligned with the terms of the hedged item, being currencies, amount and maturity. The group therefore performs a qualitative assessment of effectiveness and monitor the forecasted purchases on a regular basis to ensure that the forward contracts match the purchases and are used within the acceptable period in accordance with the policy. If changes in circumstances affect the terms of the hedged item such that the critical terms no longer match exactly with the critical terms of the hedging instrument, the group assess effectiveness relating to the hedge ratio and rebalances the contracts to ensure effectiveness. In hedges of foreign currency purchases, ineffectiveness may arise if the timing of the forecast transaction changes from what was originally estimated, or if there are changes in the credit risk of the group or the derivative counterparty. The group enters into interest rate swaps that have similar critical terms as the hedged item, such as reference rate, reset dates, payment dates, maturities and notional amount. The group does not hedge 100% of its loans, therefore the hedged item is identified as a proportion of the outstanding loans up to the notional amount of the swaps. As all critical terms matched during the year, there is an economic relationship.\" Currency hedgesThe company uses hedging instruments as part of its management of foreign currency risk associated with its highly probable inventory purchases. These include foreign currency forward contracts which are designated in the cash flow hedge relationships. To the extent these hedges are effective; the change in fair value of the hedging instrument is recognised in the cash flow hedge reserve through Other comprehensive income. The group treasury\u2019s risk management policy is to hedge up to a 100% of forecasted US dollar cash flows for inventory purchases up to 9-11 months in advance, subject to a review of the cost of implementing each hedge. In Kid, 100% of forecasted EUR cash flows for inventory purchases up to 9-11 months in advance are also hedged.For the year ended 31 December 2023, approximately 100% of inventory purchases were hedged in respect of foreign currency risk. At 31 December 2023, approximately 100% of forecasted US dollar inventory purchases during 2023 qualified as \u2018highly probable\u2019 forecast transactions for hedge accounting purposes (for 2022, approximately 100% of inventory purchases were hedged and approximately 100% of the purchases qualified as \u2018highly probable\u2019 as at 31 December 2022). As such, no inefficiency was recognised in 2023 (or in 2022). The weighted average buy rate for SEK/USD currency hedges realized in 2023 was 10.12 compared to a weighted average spot rate of 10.71. For NOK/USD currency hedges realized in 2023 the weighted average buy rate was 9.63 compared to a weighted average spot rate of 10.58. \" Interest hedgesThe company\u2019s interest exposure mainly arises from external funding in bank and debt capital markets. The company uses interest rate swaps to achieve the desired fixed/floating ratio of the external debt. Hedge accounting is applied using the cash flow model for interest rate swaps which means that gains and losses from floating to fixed interest rates as of December 31, 2023 are recognized through Other Comprehensive Income and will be continuously released to the income statement until the bank borrowings are repaid. This is done based on the periodic market-to-market revaluation of the interest rate swaps whose fair value tends to reach zero upon maturity.Hedge ineffectiveness for interest rate swaps is assessed using the same principles as for hedges of foreign currency purchases. It may occur due to: the credit value/debit value adjustment on the interest rate swaps which is not matched by the loan, and differences in critical terms between the interest rate swaps and loans. TNOK 395 000 of the external loans with floating interest rates are hedged. In the interest rate swap, Kid pay a fixed interest rate of 1,876% and receive NIBOR. The swap has a duration until 16 August 2029. The effect on interest expense in 2023 related to the interest rate swap was NOK 8,238,010 ( NOK -731,562).There was no recognised ineffectiveness during 2023 (or in 2022) in relation to the interest rate swap. Currency Interest cash flow cash flow Translation Reconciliation of Other reserveshedges hedges difference Total Opening balance net of tax 01.01.2023 21,044 22,692 -13,092 30,643 Changes in fair value through OCI 38,578 -271 38,307 Changes in deferred tax on cash flow hedges through OCI -8,566 60 -8,506 Realized cash flow hedges net of tax -92,575 -92,575 Translation difference 24,559 24,559 Closing balance net of tax 31.12.2023 -41,519 22,480 11,467 -7,571 Currency Interest cash flow cash flow Translation Reconciliation of Other reserveshedges hedges difference Total Opening balance net of tax 01.01.2022 11,309 -2,163 -4,171 4,975 Changes in fair value through OCI 131,210 31,866 163,076 Changes in deferred tax on cash flow hedges through OCI -28,866 -7,010 -35,877 Realized cash flow hedges net of tax -92,609 -92,609 Translation difference -8,920 -8,920 Closing balance net of tax 31.12.2022 21,044 22,692 -13,092 30,643 At year end the fair value of the hedging instruments were as follows:Changes over OCI Changes over P&LDerivative Derivative Derivative Derivative 31 December 2023assetsliabilities assetsliabilities Currency cash flow hedges - 53,748 Interest cash flow hedges 28,991 - - Cross currency interest swap 346 Sum 28,991 53,748 346 - Changes over OCI Changes over P&LDerivative Derivative Derivative Derivative 31 December 2022assetsliabilities assetsliabilities Currency cash flow hedges 25,440 7,229 Interest cash flow hedges 29,338 - - Cross currency interest swap 4,672 Sum 54,778 7,229 4,672 -", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__93": { "value": "The Group classifies its financial assets in the following categories: at fair value (either through OCI or profit or loss) or amortised cost. The classification is based on the SPPI model (Solely payments of principal and interest) in IFRS 9 and based on the Groups business model.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__92": { "value": "The Group classifies its financial assets in the following categories: at fair value (either through OCI or profit or loss) or amortised cost. The classification is based on the SPPI model (Solely payments of principal and interest) in IFRS 9 and based on the Groups business model.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__91": { "value": "The Group classifies its financial assets in the following categories: at fair value (either through OCI or profit or loss) or amortised cost. The classification is based on the SPPI model (Solely payments of principal and interest) in IFRS 9 and based on the Groups business model.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__90": { "value": "The Group classifies its financial assets in the following categories: at fair value (either through OCI or profit or loss) or amortised cost. The classification is based on the SPPI model (Solely payments of principal and interest) in IFRS 9 and based on the Groups business model.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__97": { "value": "NOTE 14 | TRADE RECEIVABLESTrade receivablesThe carrying amounts of the Group's trade and other receivables are entirely denominated in the currency in the country in which the company operates, ie NOK, SEK and EUR. The majority of the Group's sales are \"over the counter\" in the Kid and Hemtex stores to individuals, where payment is received from the customer at the time of the sale. Therefore in the majority of sales transactions, a trade receivable is not recognised. Sales to businesses or government institutions, for example schools or hospitals, a trade receivables is recognised at delivery of the inventory to the customer. These receivables have low credit risk and the majority of receivables over the past several years have been collected in full and on time. The Group applies the simplified approach, whereby expected lifetime losses are recognised from initial recognition of the receivables is used.The maximum exposure to credit risk at the reporting date is the carrying value of the trade receivables. The Group has not pledged any of the trade receivables as collateral or security. Management has evaluated the trade receivables credit risk to be insignificant and the trade receivables are recognised in the financial statements at full face value.Other receivablesOther receivables consists mainly of prepayments for operating expenses and rental payments for retail locations.", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__96": { "value": "NOTE 14 | TRADE RECEIVABLESTrade receivablesThe carrying amounts of the Group's trade and other receivables are entirely denominated in the currency in the country in which the company operates, ie NOK, SEK and EUR. The majority of the Group's sales are \"over the counter\" in the Kid and Hemtex stores to individuals, where payment is received from the customer at the time of the sale. Therefore in the majority of sales transactions, a trade receivable is not recognised. Sales to businesses or government institutions, for example schools or hospitals, a trade receivables is recognised at delivery of the inventory to the customer. These receivables have low credit risk and the majority of receivables over the past several years have been collected in full and on time. The Group applies the simplified approach, whereby expected lifetime losses are recognised from initial recognition of the receivables is used.The maximum exposure to credit risk at the reporting date is the carrying value of the trade receivables. The Group has not pledged any of the trade receivables as collateral or security. Management has evaluated the trade receivables credit risk to be insignificant and the trade receivables are recognised in the financial statements at full face value.Other receivablesOther receivables consists mainly of prepayments for operating expenses and rental payments for retail locations.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__95": { "value": "NOTE 14 | TRADE RECEIVABLESTrade receivablesThe carrying amounts of the Group's trade and other receivables are entirely denominated in the currency in the country in which the company operates, ie NOK, SEK and EUR. The majority of the Group's sales are \"over the counter\" in the Kid and Hemtex stores to individuals, where payment is received from the customer at the time of the sale. Therefore in the majority of sales transactions, a trade receivable is not recognised. Sales to businesses or government institutions, for example schools or hospitals, a trade receivables is recognised at delivery of the inventory to the customer. These receivables have low credit risk and the majority of receivables over the past several years have been collected in full and on time. The Group applies the simplified approach, whereby expected lifetime losses are recognised from initial recognition of the receivables is used.The maximum exposure to credit risk at the reporting date is the carrying value of the trade receivables. The Group has not pledged any of the trade receivables as collateral or security. Management has evaluated the trade receivables credit risk to be insignificant and the trade receivables are recognised in the financial statements at full face value.Other receivablesOther receivables consists mainly of prepayments for operating expenses and rental payments for retail locations.", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__98": { "value": "NOTE 15 | INVENTORIESInventories are stated at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less applicable selling expenses. The cost of purchased goods sold comprises the direct costs (purchase price), import duties and freight as well as the hedging reserve. A significant part of the inventory purchases are denominated in USD and hedged to Norwegian and Swedish kroner with currency derivatives designated as cash flow hedges. Cost of purchased goods sold is determined using a combination of specific identification and weighted-average costing. Changes in inventory also includes a provision for obsolescence and lost goods.2023 2022Inventory at purchase cost 582,359 674,815 Inventory write-downs to net realizable value -6,080 -6,061Inventories 576,279 668,753 Recognized loss on inventories2023 2022Lost and damaged goods 20,922 13,530Change in provision for obsolescence 18 -1,187Recognized loss on inventories in cost of goods sold 20,940 12,343", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__99": { "value": "Inventories are stated at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less applicable selling expenses. The cost of purchased goods sold comprises the direct costs (purchase price), import duties and freight as well as the hedging reserve. A significant part of the inventory purchases are denominated in USD and hedged to Norwegian and Swedish kroner with currency derivatives designated as cash flow hedges. Cost of purchased goods sold is determined using a combination of specific identification and weighted-average costing. Changes in inventory also includes a provision for obsolescence and lost goods.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__101": { "value": "NOTE 16 | CASH AND CASH EQUIVALENTSFor the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the balance sheet. As of year-end 2022 and 2023 the Group did not have any outstanding bank overdrafts. Cash is initially recognised at fair value and subsequently measured at amortised cost.2023 2022Cash in bank and in hand 219,223 63,458Short-term bank overnight deposits 6,100 12,521Cash and cash equivalents (excluding bank overdrafts) 225,065 75,721The Group does not have any restricted cash bank accounts. See note 18 for further information on employee tax guarantee.", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__100": { "value": "NOTE 16 | CASH AND CASH EQUIVALENTSFor the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the balance sheet. As of year-end 2022 and 2023 the Group did not have any outstanding bank overdrafts. Cash is initially recognised at fair value and subsequently measured at amortised cost.2023 2022Cash in bank and in hand 219,223 63,458Short-term bank overnight deposits 6,100 12,521Cash and cash equivalents (excluding bank overdrafts) 225,065 75,721The Group does not have any restricted cash bank accounts. See note 18 for further information on employee tax guarantee.", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__103": { "value": "For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the balance sheet. As of year-end 2022 and 2023 the Group did not have any outstanding bank overdrafts. Cash is initially recognised at fair value and subsequently measured at amortised cost.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__104": { "value": "NOTE 17 | SHARE CAPITAL AND PREMIUMShare capital (all amounts in NOK)Number of Ordinary Total shares shares Face valueface valueAt 31 December 2023 40,645,162 40,645,162 1.2 48,774,194At 31 December 2022 40,645,162 40,645,162 1.2 48,774,194The top 20 shareholders per 31.12 are the following: 31 December 2023Company # Shares OwnershipGjelsten Holding AS 4,161,291 10.24%Pareto Aksje Norge Verdipapirfond 3,052,559 7.51%Verdipapirfondet Alfred Berg Gamba 2,908,652 7.16%Soci\u00e9t\u00e9 G\u00e9n\u00e9rale 2,050,000 5.04%Folketrygdfondet 1,892,193 4.66%Salt Value AS 1,806,959 4.45%Stenshagen Invest AS 1,464,600 3.60%Verdipapirfondet Holberg Norge 1,366,553 3.36%VJ Invest AS 1,173,507 2.89%J.P. Morgan SE 1,092,162 2.69%Forsvarets Personellservice 707,500 1.74%Varner Equities AS 691,790 1.70%Landkreditt Utbytte 677,131 1.67%Vevlen G\u00e5rd AS 581,500 1.43%Verdipapirfondet Nordea Avkastning 555,984 1.37%Brown Brothers Harriman & Co. 536,300 1.32%Verdipapirfondet KLP Aksjenorge 518,799 1.28%Hausta Investor AS 500,000 1.23%Verdipapirfondet Eika Norge 461,834 1.14%Goldman Sachs International 416,161 1.02% 31 December 2022Company # Shares OwnershipGjelsten Holding AS 4,161,291 10.24%Verdipapirfondet Alfred Berg Gamba 2,908,652 7.16%Pareto Aksje Norge Verdipapirfond 2,268,735 5.58%Soci\u00e9t\u00e9 G\u00e9n\u00e9rale 2,050,000 5.04%Folketrygdfondet 1,892,193 4.66%Verdipapirfondet Holberg Norge 1,639,520 4.03%Salt Value AS 1,601,267 3.94%Stenshagen Invest AS 1,464,600 3.60%J.P. Morgan SE 1,105,802 2.72%VJ Invest AS 1,032,824 2.54%State Street Bank and Trust Comp 720,115 1.77%Forsvarets Personellservice 707,500 1.74%Verdipapirfondet Eika Spar 634,114 1.56%Verdipapirfondet Nordea Avkastning 556,584 1.37%The Bank of New York Mellon SA/NV 535,031 1.32%Verdipapirfondet KLP Aksjenorge 517,769 1.27%Verdipapirfondet Eika Norge 461,834 1.14%Goldman Sachs International 440,161 1.08%Verdipapirfondet Nordea Kapital 418,730 1.03%Share premium AmountAt 31 December 2014 156,874Equity issue November 2015 164,175At 31 December 2023 321,049Key Management Personnel Share holdings 31.12.2023 31.12.2022Anders Fjeld 138,000 130,000 Mads Kigen 500 na Eystein Lund na 50,286 Anders Lorentzson na na Board of DirectorsPetter Schouw-Hansen 54,808 54,808 Liv Berstad 1,270 - Gyrid Skalleberg Inger\u00f8 3,007 3,007 Karin Bing Orgland 32,629 32,629 Rune Marsdal 20,427 20,427 Espen Gundersen 7,000 4,000", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__108": { "value": "NOTE 18 | LIABILITIES TO FINANCIAL INSTITUTIONSBorrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are subsequently carried at amortised cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognised in the income statement over the period of the borrowings using the effective interest method. Fees and commission costs paid on the establishment and maintenance of short-term bank borrowing facilities are recognised as bank transaction costs in the accounting period when the costs are paid. These costs are not amortised and deferred as the loans are usually re-paid within a few months.2023 2022Long termBank loans 491,661 521,646Total long term liabilities to financial institutions 491,661 521,646Short termBank loans 30,000 30,000Total short term liabilities to financial institutions 30,000 30,000Total liabilities to financial institutions 521,661 551,646(a) Bank loansAn additional short term credit facility agreement of MNOK 100 was signed in December 2022, and in 2023 a new revolving credit facility of MNOK 230 was signed which replaced the two existing agreements. Furthermore a new term loan has been signed during 2023 of MNOK 125 related to the expansion of the warehouse in Sweden. The bank loan mature May 2026. The interest rate of the majority of the total term loan is fixed through interest rate swap agreements. For the revolving credit facility and overdraft, the average interest rate was 5,4%Total loans include secured liabilities (bank and collateralised loan) of TNOK 521 661 (2022: TNOK 551 646) and revolving credit facility of TNOK 0 (2022: TNOK 0). The group has a bank overdraft of TNOK 247 000 which was partially used 289 days during the year (284 days), but not at year end. The Bank loans are secured by 100% of the shares in Kid Interi\u00f8r AS.TNOK 395 000 (included in the 1-5 years in table below) of the external loan with floating interest rate is swapped to a fixed interest rate of 1.876% by means of interest rate derivatives to maintain the desired split between fixed and floating interest rates and is subject to hedge accounting.TSEK 25 200 (included in the 1-5 years in table below) of the external loan with floating interest rate is swapped to fixed interest rates of 1.460% and currency SEK by means of a cross currency interest rate derivative to maintain the desired split between fixed and floating interest rates and currency exposure. The effect of change in the fair value of the derivative is booked against financial income/expense.The bank overdraft are secured by inventory, trade receivables, property, plant and equipment, 100% of the shares in Kid Logistikk AS and the rental agreement related to the HQ in Drammen. Since the bank overdraft was not utilized at year end 2023 or 2022, none of the assets were pledged as collateral.The exposure of the Group\u2019s loans to interest rate changes and the contractual re-pricing dates at the end of thereporting period are as follows:2023 20226 months or less 10,000 10,0006-12 months 20,000 20,0001-5 years 491,661 521,646Total liabilities to financial institutions 521,661 551,646The carrying amounts and fair value of the loans are as follows:2023 2022Bank loans 521,661 551,646Total carrying amount of liabilities to financial institutions 521,661 551,646The fair value of current loans equals their carrying amount, as the loans bear a floating interest priced at marketrate.Included in the 1-5 years category in the table above is a TNOK 521 700 loan, where the group entered an interest swap agreement in 2019 covering TNOK 395 000 as well as a cross-currency interest swap covering TSEK 45,000.The carrying amounts of the Group\u2019s loans are denominated in the following currencies:2023 2022NOK 496,661 496,646SEK (through swap-agreement) 25,000 55,000 Total 521,661 551,646The Group has the following granted loan facilities:2023 2022Term loan 125,000 - Revolving credit facility 230,000 130,000 Short term credit facility 100,000 Unused bank overdraft 247,000 247,000 Employee tax guarantee 21,800 21,300 Letter of credit limit 115,000 115,000 Following covenants is regulated by contract:During 2023, a new agreement has been signed with Nordea. The definition of EBITDA has been updated to match the reported figures (incl. IFRS 16) and the covenant requirement of LTM EBITDA increased to MNOK 300 accordingly.Interval Limit 2023 Limit 20222023: NIBD/EBITDA incl IFRS 16 (2022: NIBD/EBITDA annually 2.25 2.25excl IFRS 16) 2023: EBITDA Last twelve monthes (in NOK millions) quarterly 300 175incl IFRS 16 (2022: excl IFRS 16)The Group has been compliant with covenants at all intervals.", "dimensions": { "concept": "ifrs-full:DisclosureOfLoansAndAdvancesToBanksExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__107-1": { "value": "NOTE 18 | LIABILITIES TO FINANCIAL INSTITUTIONSBorrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are subsequently carried at amortised cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognised in the income statement over the period of the borrowings using the effective interest method. Fees and commission costs paid on the establishment and maintenance of short-term bank borrowing facilities are recognised as bank transaction costs in the accounting period when the costs are paid. These costs are not amortised and deferred as the loans are usually re-paid within a few months.2023 2022Long termBank loans 491,661 521,646Total long term liabilities to financial institutions 491,661 521,646Short termBank loans 30,000 30,000Total short term liabilities to financial institutions 30,000 30,000Total liabilities to financial institutions 521,661 551,646(a) Bank loansAn additional short term credit facility agreement of MNOK 100 was signed in December 2022, and in 2023 a new revolving credit facility of MNOK 230 was signed which replaced the two existing agreements. Furthermore a new term loan has been signed during 2023 of MNOK 125 related to the expansion of the warehouse in Sweden. The bank loan mature May 2026. The interest rate of the majority of the total term loan is fixed through interest rate swap agreements. For the revolving credit facility and overdraft, the average interest rate was 5,4%Total loans include secured liabilities (bank and collateralised loan) of TNOK 521 661 (2022: TNOK 551 646) and revolving credit facility of TNOK 0 (2022: TNOK 0). The group has a bank overdraft of TNOK 247 000 which was partially used 289 days during the year (284 days), but not at year end. The Bank loans are secured by 100% of the shares in Kid Interi\u00f8r AS.TNOK 395 000 (included in the 1-5 years in table below) of the external loan with floating interest rate is swapped to a fixed interest rate of 1.876% by means of interest rate derivatives to maintain the desired split between fixed and floating interest rates and is subject to hedge accounting.TSEK 25 200 (included in the 1-5 years in table below) of the external loan with floating interest rate is swapped to fixed interest rates of 1.460% and currency SEK by means of a cross currency interest rate derivative to maintain the desired split between fixed and floating interest rates and currency exposure. The effect of change in the fair value of the derivative is booked against financial income/expense.The bank overdraft are secured by inventory, trade receivables, property, plant and equipment, 100% of the shares in Kid Logistikk AS and the rental agreement related to the HQ in Drammen. Since the bank overdraft was not utilized at year end 2023 or 2022, none of the assets were pledged as collateral.The exposure of the Group\u2019s loans to interest rate changes and the contractual re-pricing dates at the end of thereporting period are as follows:2023 20226 months or less 10,000 10,0006-12 months 20,000 20,0001-5 years 491,661 521,646Total liabilities to financial institutions 521,661 551,646The carrying amounts and fair value of the loans are as follows:2023 2022Bank loans 521,661 551,646Total carrying amount of liabilities to financial institutions 521,661 551,646The fair value of current loans equals their carrying amount, as the loans bear a floating interest priced at marketrate.Included in the 1-5 years category in the table above is a TNOK 521 700 loan, where the group entered an interest swap agreement in 2019 covering TNOK 395 000 as well as a cross-currency interest swap covering TSEK 45,000.The carrying amounts of the Group\u2019s loans are denominated in the following currencies:2023 2022NOK 496,661 496,646SEK (through swap-agreement) 25,000 55,000 Total 521,661 551,646The Group has the following granted loan facilities:2023 2022Term loan 125,000 - Revolving credit facility 230,000 130,000 Short term credit facility 100,000 Unused bank overdraft 247,000 247,000 Employee tax guarantee 21,800 21,300 Letter of credit limit 115,000 115,000 Following covenants is regulated by contract:During 2023, a new agreement has been signed with Nordea. The definition of EBITDA has been updated to match the reported figures (incl. IFRS 16) and the covenant requirement of LTM EBITDA increased to MNOK 300 accordingly.Interval Limit 2023 Limit 20222023: NIBD/EBITDA incl IFRS 16 (2022: NIBD/EBITDA annually 2.25 2.25excl IFRS 16) 2023: EBITDA Last twelve monthes (in NOK millions) quarterly 300 175incl IFRS 16 (2022: excl IFRS 16)The Group has been compliant with covenants at all intervals.NOTE 19 | OTHER OPERATING EXPENSES AND OTHER SHORT TERM LIABILITIESOther short term liabilities 2023 2022Salary related accruals 108,306 96,042 Goods in transit 5,180 28,440 Giftcards, store credits and other sales related accruals 27,826 35,263 Accrued rental expenses 4,327 13,396 Other accruals 45,986 28,674 Total other short term liabilities 191,626 201,815", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__106-1": { "value": "NOTE 18 | LIABILITIES TO FINANCIAL INSTITUTIONSBorrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are subsequently carried at amortised cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognised in the income statement over the period of the borrowings using the effective interest method. Fees and commission costs paid on the establishment and maintenance of short-term bank borrowing facilities are recognised as bank transaction costs in the accounting period when the costs are paid. These costs are not amortised and deferred as the loans are usually re-paid within a few months.2023 2022Long termBank loans 491,661 521,646Total long term liabilities to financial institutions 491,661 521,646Short termBank loans 30,000 30,000Total short term liabilities to financial institutions 30,000 30,000Total liabilities to financial institutions 521,661 551,646(a) Bank loansAn additional short term credit facility agreement of MNOK 100 was signed in December 2022, and in 2023 a new revolving credit facility of MNOK 230 was signed which replaced the two existing agreements. Furthermore a new term loan has been signed during 2023 of MNOK 125 related to the expansion of the warehouse in Sweden. The bank loan mature May 2026. The interest rate of the majority of the total term loan is fixed through interest rate swap agreements. For the revolving credit facility and overdraft, the average interest rate was 5,4%Total loans include secured liabilities (bank and collateralised loan) of TNOK 521 661 (2022: TNOK 551 646) and revolving credit facility of TNOK 0 (2022: TNOK 0). The group has a bank overdraft of TNOK 247 000 which was partially used 289 days during the year (284 days), but not at year end. The Bank loans are secured by 100% of the shares in Kid Interi\u00f8r AS.TNOK 395 000 (included in the 1-5 years in table below) of the external loan with floating interest rate is swapped to a fixed interest rate of 1.876% by means of interest rate derivatives to maintain the desired split between fixed and floating interest rates and is subject to hedge accounting.TSEK 25 200 (included in the 1-5 years in table below) of the external loan with floating interest rate is swapped to fixed interest rates of 1.460% and currency SEK by means of a cross currency interest rate derivative to maintain the desired split between fixed and floating interest rates and currency exposure. The effect of change in the fair value of the derivative is booked against financial income/expense.The bank overdraft are secured by inventory, trade receivables, property, plant and equipment, 100% of the shares in Kid Logistikk AS and the rental agreement related to the HQ in Drammen. Since the bank overdraft was not utilized at year end 2023 or 2022, none of the assets were pledged as collateral.The exposure of the Group\u2019s loans to interest rate changes and the contractual re-pricing dates at the end of thereporting period are as follows:2023 20226 months or less 10,000 10,0006-12 months 20,000 20,0001-5 years 491,661 521,646Total liabilities to financial institutions 521,661 551,646The carrying amounts and fair value of the loans are as follows:2023 2022Bank loans 521,661 551,646Total carrying amount of liabilities to financial institutions 521,661 551,646The fair value of current loans equals their carrying amount, as the loans bear a floating interest priced at marketrate.Included in the 1-5 years category in the table above is a TNOK 521 700 loan, where the group entered an interest swap agreement in 2019 covering TNOK 395 000 as well as a cross-currency interest swap covering TSEK 45,000.The carrying amounts of the Group\u2019s loans are denominated in the following currencies:2023 2022NOK 496,661 496,646SEK (through swap-agreement) 25,000 55,000 Total 521,661 551,646The Group has the following granted loan facilities:2023 2022Term loan 125,000 - Revolving credit facility 230,000 130,000 Short term credit facility 100,000 Unused bank overdraft 247,000 247,000 Employee tax guarantee 21,800 21,300 Letter of credit limit 115,000 115,000 Following covenants is regulated by contract:During 2023, a new agreement has been signed with Nordea. The definition of EBITDA has been updated to match the reported figures (incl. IFRS 16) and the covenant requirement of LTM EBITDA increased to MNOK 300 accordingly.Interval Limit 2023 Limit 20222023: NIBD/EBITDA incl IFRS 16 (2022: NIBD/EBITDA annually 2.25 2.25excl IFRS 16) 2023: EBITDA Last twelve monthes (in NOK millions) quarterly 300 175incl IFRS 16 (2022: excl IFRS 16)The Group has been compliant with covenants at all intervals.NOTE 19 | OTHER OPERATING EXPENSES AND OTHER SHORT TERM LIABILITIESOther short term liabilities 2023 2022Salary related accruals 108,306 96,042 Goods in transit 5,180 28,440 Giftcards, store credits and other sales related accruals 27,826 35,263 Accrued rental expenses 4,327 13,396 Other accruals 45,986 28,674 Total other short term liabilities 191,626 201,815", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__110": { "value": "Borrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are subsequently carried at amortised cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognised in the income statement over the period of the borrowings using the effective interest method. Fees and commission costs paid on the establishment and maintenance of short-term bank borrowing facilities are recognised as bank transaction costs in the accounting period when the costs are paid. These costs are not amortised and deferred as the loans are usually re-paid within a few months.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__115-1": { "value": "NOTE 19 | OTHER OPERATING EXPENSES AND OTHER SHORT TERM LIABILITIESOther short term liabilities 2023 2022Salary related accruals 108,306 96,042 Goods in transit 5,180 28,440 Giftcards, store credits and other sales related accruals 27,826 35,263 Accrued rental expenses 4,327 13,396 Other accruals 45,986 28,674 Total other short term liabilities 191,626 201,815", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__112-1": { "value": "NOTE 19 | OTHER OPERATING EXPENSES AND OTHER SHORT TERM LIABILITIESOther operating expenses 2023 2022Rental costs for shops and storage (incl shared operating expenses) 24 122,492 109,812Advertising and other marketing costs 137,259 133,551Other expenses 254,619 260,835Total other expenses 514,371 504,198", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__111-1": { "value": "NOTE 19 | OTHER OPERATING EXPENSES AND OTHER SHORT TERM LIABILITIESOther operating expenses 2023 2022Rental costs for shops and storage (incl shared operating expenses) 24 122,492 109,812Advertising and other marketing costs 137,259 133,551Other expenses 254,619 260,835Total other expenses 514,371 504,198", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__123": { "value": "The company has various pension schemes. The pension schemes are financed through payments to insurance companies, with the exception of the early retirement pension scheme (AFP). The company has both defined contribution plans and the AFP scheme. For defined contribution plans, the group pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. The group has no further payment obligations once the contributions have been paid. The contributions are recognised as employee benefit expense when they are due. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available. The company also has an agreed early retirement scheme (AFP).", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__124": { "value": "NOTE 21 | RELATED PARTIESThe Group's related parties include its associates, joint ventures, key management and members of the board.None of the Board members have been granted loans or guarantees in the current year Furthermore, none of the Board members are included in the Group's pension or bonus plans.The following table provides the year-end balance that have been entered into with related parties during the total year of 2023 and 2022:Related party 2023 2022Prognosgatan Holding AS (Loan) 50,702 23,795Total 50,702 23,795", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__129": { "value": "NOTE 22 | HEDGE ACCOUNTING AND RESERVESCash flow hedge reserveWhere all relevant criteria are met, hedge accounting is applied to remove the accounting mismatch between the hedging instrument and the hedged item. This will effectively result in recognising interest expense at a fixed interest rate for the hedged floating rate loans and inventory at the fixed foreign currency rate for the hedged purchases. Derivatives are only used for economic hedging purposes and not as speculative investments.Hedge effectivenessHedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments, to ensure that an economic relationship exists between the hedged item and hedging instrument. For hedges of foreign currency purchases, the group enters into hedge relationships where the critical terms of the hedging instrument match or are closely aligned with the terms of the hedged item, being currencies, amount and maturity. The group therefore performs a qualitative assessment of effectiveness and monitor the forecasted purchases on a regular basis to ensure that the forward contracts match the purchases and are used within the acceptable period in accordance with the policy. If changes in circumstances affect the terms of the hedged item such that the critical terms no longer match exactly with the critical terms of the hedging instrument, the group assess effectiveness relating to the hedge ratio and rebalances the contracts to ensure effectiveness. In hedges of foreign currency purchases, ineffectiveness may arise if the timing of the forecast transaction changes from what was originally estimated, or if there are changes in the credit risk of the group or the derivative counterparty. The group enters into interest rate swaps that have similar critical terms as the hedged item, such as reference rate, reset dates, payment dates, maturities and notional amount. The group does not hedge 100% of its loans, therefore the hedged item is identified as a proportion of the outstanding loans up to the notional amount of the swaps. As all critical terms matched during the year, there is an economic relationship.\" Currency hedgesThe company uses hedging instruments as part of its management of foreign currency risk associated with its highly probable inventory purchases. These include foreign currency forward contracts which are designated in the cash flow hedge relationships. To the extent these hedges are effective; the change in fair value of the hedging instrument is recognised in the cash flow hedge reserve through Other comprehensive income. The group treasury\u2019s risk management policy is to hedge up to a 100% of forecasted US dollar cash flows for inventory purchases up to 9-11 months in advance, subject to a review of the cost of implementing each hedge. In Kid, 100% of forecasted EUR cash flows for inventory purchases up to 9-11 months in advance are also hedged.For the year ended 31 December 2023, approximately 100% of inventory purchases were hedged in respect of foreign currency risk. At 31 December 2023, approximately 100% of forecasted US dollar inventory purchases during 2023 qualified as \u2018highly probable\u2019 forecast transactions for hedge accounting purposes (for 2022, approximately 100% of inventory purchases were hedged and approximately 100% of the purchases qualified as \u2018highly probable\u2019 as at 31 December 2022). As such, no inefficiency was recognised in 2023 (or in 2022). The weighted average buy rate for SEK/USD currency hedges realized in 2023 was 10.12 compared to a weighted average spot rate of 10.71. For NOK/USD currency hedges realized in 2023 the weighted average buy rate was 9.63 compared to a weighted average spot rate of 10.58. \" Interest hedgesThe company\u2019s interest exposure mainly arises from external funding in bank and debt capital markets. The company uses interest rate swaps to achieve the desired fixed/floating ratio of the external debt. Hedge accounting is applied using the cash flow model for interest rate swaps which means that gains and losses from floating to fixed interest rates as of December 31, 2023 are recognized through Other Comprehensive Income and will be continuously released to the income statement until the bank borrowings are repaid. This is done based on the periodic market-to-market revaluation of the interest rate swaps whose fair value tends to reach zero upon maturity.Hedge ineffectiveness for interest rate swaps is assessed using the same principles as for hedges of foreign currency purchases. It may occur due to: the credit value/debit value adjustment on the interest rate swaps which is not matched by the loan, and differences in critical terms between the interest rate swaps and loans. TNOK 395 000 of the external loans with floating interest rates are hedged. In the interest rate swap, Kid pay a fixed interest rate of 1,876% and receive NIBOR. The swap has a duration until 16 August 2029. The effect on interest expense in 2023 related to the interest rate swap was NOK 8,238,010 ( NOK -731,562).There was no recognised ineffectiveness during 2023 (or in 2022) in relation to the interest rate swap. Currency Interest cash flow cash flow Translation Reconciliation of Other reserveshedges hedges difference Total Opening balance net of tax 01.01.2023 21,044 22,692 -13,092 30,643 Changes in fair value through OCI 38,578 -271 38,307 Changes in deferred tax on cash flow hedges through OCI -8,566 60 -8,506 Realized cash flow hedges net of tax -92,575 -92,575 Translation difference 24,559 24,559 Closing balance net of tax 31.12.2023 -41,519 22,480 11,467 -7,571 Currency Interest cash flow cash flow Translation Reconciliation of Other reserveshedges hedges difference Total Opening balance net of tax 01.01.2022 11,309 -2,163 -4,171 4,975 Changes in fair value through OCI 131,210 31,866 163,076 Changes in deferred tax on cash flow hedges through OCI -28,866 -7,010 -35,877 Realized cash flow hedges net of tax -92,609 -92,609 Translation difference -8,920 -8,920 Closing balance net of tax 31.12.2022 21,044 22,692 -13,092 30,643 At year end the fair value of the hedging instruments were as follows:Changes over OCI Changes over P&LDerivative Derivative Derivative Derivative 31 December 2023assetsliabilities assetsliabilities Currency cash flow hedges - 53,748 Interest cash flow hedges 28,991 - - Cross currency interest swap 346 Sum 28,991 53,748 346 - Changes over OCI Changes over P&LDerivative Derivative Derivative Derivative 31 December 2022assetsliabilities assetsliabilities Currency cash flow hedges 25,440 7,229 Interest cash flow hedges 29,338 - - Cross currency interest swap 4,672 Sum 54,778 7,229 4,672 -", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__128": { "value": "NOTE 22 | HEDGE ACCOUNTING AND RESERVESCash flow hedge reserveWhere all relevant criteria are met, hedge accounting is applied to remove the accounting mismatch between the hedging instrument and the hedged item. This will effectively result in recognising interest expense at a fixed interest rate for the hedged floating rate loans and inventory at the fixed foreign currency rate for the hedged purchases. Derivatives are only used for economic hedging purposes and not as speculative investments.Hedge effectivenessHedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments, to ensure that an economic relationship exists between the hedged item and hedging instrument. For hedges of foreign currency purchases, the group enters into hedge relationships where the critical terms of the hedging instrument match or are closely aligned with the terms of the hedged item, being currencies, amount and maturity. The group therefore performs a qualitative assessment of effectiveness and monitor the forecasted purchases on a regular basis to ensure that the forward contracts match the purchases and are used within the acceptable period in accordance with the policy. If changes in circumstances affect the terms of the hedged item such that the critical terms no longer match exactly with the critical terms of the hedging instrument, the group assess effectiveness relating to the hedge ratio and rebalances the contracts to ensure effectiveness. In hedges of foreign currency purchases, ineffectiveness may arise if the timing of the forecast transaction changes from what was originally estimated, or if there are changes in the credit risk of the group or the derivative counterparty. The group enters into interest rate swaps that have similar critical terms as the hedged item, such as reference rate, reset dates, payment dates, maturities and notional amount. The group does not hedge 100% of its loans, therefore the hedged item is identified as a proportion of the outstanding loans up to the notional amount of the swaps. As all critical terms matched during the year, there is an economic relationship.\" Currency hedgesThe company uses hedging instruments as part of its management of foreign currency risk associated with its highly probable inventory purchases. These include foreign currency forward contracts which are designated in the cash flow hedge relationships. To the extent these hedges are effective; the change in fair value of the hedging instrument is recognised in the cash flow hedge reserve through Other comprehensive income. The group treasury\u2019s risk management policy is to hedge up to a 100% of forecasted US dollar cash flows for inventory purchases up to 9-11 months in advance, subject to a review of the cost of implementing each hedge. In Kid, 100% of forecasted EUR cash flows for inventory purchases up to 9-11 months in advance are also hedged.For the year ended 31 December 2023, approximately 100% of inventory purchases were hedged in respect of foreign currency risk. At 31 December 2023, approximately 100% of forecasted US dollar inventory purchases during 2023 qualified as \u2018highly probable\u2019 forecast transactions for hedge accounting purposes (for 2022, approximately 100% of inventory purchases were hedged and approximately 100% of the purchases qualified as \u2018highly probable\u2019 as at 31 December 2022). As such, no inefficiency was recognised in 2023 (or in 2022). The weighted average buy rate for SEK/USD currency hedges realized in 2023 was 10.12 compared to a weighted average spot rate of 10.71. For NOK/USD currency hedges realized in 2023 the weighted average buy rate was 9.63 compared to a weighted average spot rate of 10.58. \" Interest hedgesThe company\u2019s interest exposure mainly arises from external funding in bank and debt capital markets. The company uses interest rate swaps to achieve the desired fixed/floating ratio of the external debt. Hedge accounting is applied using the cash flow model for interest rate swaps which means that gains and losses from floating to fixed interest rates as of December 31, 2023 are recognized through Other Comprehensive Income and will be continuously released to the income statement until the bank borrowings are repaid. This is done based on the periodic market-to-market revaluation of the interest rate swaps whose fair value tends to reach zero upon maturity.Hedge ineffectiveness for interest rate swaps is assessed using the same principles as for hedges of foreign currency purchases. It may occur due to: the credit value/debit value adjustment on the interest rate swaps which is not matched by the loan, and differences in critical terms between the interest rate swaps and loans. TNOK 395 000 of the external loans with floating interest rates are hedged. In the interest rate swap, Kid pay a fixed interest rate of 1,876% and receive NIBOR. The swap has a duration until 16 August 2029. The effect on interest expense in 2023 related to the interest rate swap was NOK 8,238,010 ( NOK -731,562).There was no recognised ineffectiveness during 2023 (or in 2022) in relation to the interest rate swap. Currency Interest cash flow cash flow Translation Reconciliation of Other reserveshedges hedges difference Total Opening balance net of tax 01.01.2023 21,044 22,692 -13,092 30,643 Changes in fair value through OCI 38,578 -271 38,307 Changes in deferred tax on cash flow hedges through OCI -8,566 60 -8,506 Realized cash flow hedges net of tax -92,575 -92,575 Translation difference 24,559 24,559 Closing balance net of tax 31.12.2023 -41,519 22,480 11,467 -7,571 Currency Interest cash flow cash flow Translation Reconciliation of Other reserveshedges hedges difference Total Opening balance net of tax 01.01.2022 11,309 -2,163 -4,171 4,975 Changes in fair value through OCI 131,210 31,866 163,076 Changes in deferred tax on cash flow hedges through OCI -28,866 -7,010 -35,877 Realized cash flow hedges net of tax -92,609 -92,609 Translation difference -8,920 -8,920 Closing balance net of tax 31.12.2022 21,044 22,692 -13,092 30,643 At year end the fair value of the hedging instruments were as follows:Changes over OCI Changes over P&LDerivative Derivative Derivative Derivative 31 December 2023assetsliabilities assetsliabilities Currency cash flow hedges - 53,748 Interest cash flow hedges 28,991 - - Cross currency interest swap 346 Sum 28,991 53,748 346 - Changes over OCI Changes over P&LDerivative Derivative Derivative Derivative 31 December 2022assetsliabilities assetsliabilities Currency cash flow hedges 25,440 7,229 Interest cash flow hedges 29,338 - - Cross currency interest swap 4,672 Sum 54,778 7,229 4,672 -", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__127": { "value": "NOTE 22 | HEDGE ACCOUNTING AND RESERVESCash flow hedge reserveWhere all relevant criteria are met, hedge accounting is applied to remove the accounting mismatch between the hedging instrument and the hedged item. This will effectively result in recognising interest expense at a fixed interest rate for the hedged floating rate loans and inventory at the fixed foreign currency rate for the hedged purchases. Derivatives are only used for economic hedging purposes and not as speculative investments.Hedge effectivenessHedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments, to ensure that an economic relationship exists between the hedged item and hedging instrument. For hedges of foreign currency purchases, the group enters into hedge relationships where the critical terms of the hedging instrument match or are closely aligned with the terms of the hedged item, being currencies, amount and maturity. The group therefore performs a qualitative assessment of effectiveness and monitor the forecasted purchases on a regular basis to ensure that the forward contracts match the purchases and are used within the acceptable period in accordance with the policy. If changes in circumstances affect the terms of the hedged item such that the critical terms no longer match exactly with the critical terms of the hedging instrument, the group assess effectiveness relating to the hedge ratio and rebalances the contracts to ensure effectiveness. In hedges of foreign currency purchases, ineffectiveness may arise if the timing of the forecast transaction changes from what was originally estimated, or if there are changes in the credit risk of the group or the derivative counterparty. The group enters into interest rate swaps that have similar critical terms as the hedged item, such as reference rate, reset dates, payment dates, maturities and notional amount. The group does not hedge 100% of its loans, therefore the hedged item is identified as a proportion of the outstanding loans up to the notional amount of the swaps. As all critical terms matched during the year, there is an economic relationship.\" Currency hedgesThe company uses hedging instruments as part of its management of foreign currency risk associated with its highly probable inventory purchases. These include foreign currency forward contracts which are designated in the cash flow hedge relationships. To the extent these hedges are effective; the change in fair value of the hedging instrument is recognised in the cash flow hedge reserve through Other comprehensive income. The group treasury\u2019s risk management policy is to hedge up to a 100% of forecasted US dollar cash flows for inventory purchases up to 9-11 months in advance, subject to a review of the cost of implementing each hedge. In Kid, 100% of forecasted EUR cash flows for inventory purchases up to 9-11 months in advance are also hedged.For the year ended 31 December 2023, approximately 100% of inventory purchases were hedged in respect of foreign currency risk. At 31 December 2023, approximately 100% of forecasted US dollar inventory purchases during 2023 qualified as \u2018highly probable\u2019 forecast transactions for hedge accounting purposes (for 2022, approximately 100% of inventory purchases were hedged and approximately 100% of the purchases qualified as \u2018highly probable\u2019 as at 31 December 2022). As such, no inefficiency was recognised in 2023 (or in 2022). The weighted average buy rate for SEK/USD currency hedges realized in 2023 was 10.12 compared to a weighted average spot rate of 10.71. For NOK/USD currency hedges realized in 2023 the weighted average buy rate was 9.63 compared to a weighted average spot rate of 10.58. \" Interest hedgesThe company\u2019s interest exposure mainly arises from external funding in bank and debt capital markets. The company uses interest rate swaps to achieve the desired fixed/floating ratio of the external debt. Hedge accounting is applied using the cash flow model for interest rate swaps which means that gains and losses from floating to fixed interest rates as of December 31, 2023 are recognized through Other Comprehensive Income and will be continuously released to the income statement until the bank borrowings are repaid. This is done based on the periodic market-to-market revaluation of the interest rate swaps whose fair value tends to reach zero upon maturity.Hedge ineffectiveness for interest rate swaps is assessed using the same principles as for hedges of foreign currency purchases. It may occur due to: the credit value/debit value adjustment on the interest rate swaps which is not matched by the loan, and differences in critical terms between the interest rate swaps and loans. TNOK 395 000 of the external loans with floating interest rates are hedged. In the interest rate swap, Kid pay a fixed interest rate of 1,876% and receive NIBOR. The swap has a duration until 16 August 2029. The effect on interest expense in 2023 related to the interest rate swap was NOK 8,238,010 ( NOK -731,562).There was no recognised ineffectiveness during 2023 (or in 2022) in relation to the interest rate swap. Currency Interest cash flow cash flow Translation Reconciliation of Other reserveshedges hedges difference Total Opening balance net of tax 01.01.2023 21,044 22,692 -13,092 30,643 Changes in fair value through OCI 38,578 -271 38,307 Changes in deferred tax on cash flow hedges through OCI -8,566 60 -8,506 Realized cash flow hedges net of tax -92,575 -92,575 Translation difference 24,559 24,559 Closing balance net of tax 31.12.2023 -41,519 22,480 11,467 -7,571 Currency Interest cash flow cash flow Translation Reconciliation of Other reserveshedges hedges difference Total Opening balance net of tax 01.01.2022 11,309 -2,163 -4,171 4,975 Changes in fair value through OCI 131,210 31,866 163,076 Changes in deferred tax on cash flow hedges through OCI -28,866 -7,010 -35,877 Realized cash flow hedges net of tax -92,609 -92,609 Translation difference -8,920 -8,920 Closing balance net of tax 31.12.2022 21,044 22,692 -13,092 30,643 At year end the fair value of the hedging instruments were as follows:Changes over OCI Changes over P&LDerivative Derivative Derivative Derivative 31 December 2023assetsliabilities assetsliabilities Currency cash flow hedges - 53,748 Interest cash flow hedges 28,991 - - Cross currency interest swap 346 Sum 28,991 53,748 346 - Changes over OCI Changes over P&LDerivative Derivative Derivative Derivative 31 December 2022assetsliabilities assetsliabilities Currency cash flow hedges 25,440 7,229 Interest cash flow hedges 29,338 - - Cross currency interest swap 4,672 Sum 54,778 7,229 4,672 -", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__131": { "value": "NOTE 24 | LEASESThe group leases various offices, warehouses, retail stores, equipment and vehicles. Rental contracts for the retail stores represent a significant part of the number of contracts and values, and are typically made for fixed periods of 6 months to 8 years. The contracts may include extension options.Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments:\ue61f\ue61f\u2022 fixed payments, less any lease incentives receivable\u2022 amounts expected to be payable by the group under residual value guarantees\u2022 the exercise price of a purchase option if the group is reasonably certain to exercise that option\u2022 and\ue61f payments of penalties for terminating the lease, if the lease term reflects the group exercising that option.The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which is generally the case for leases in the group, the lessee\u2019s incremental borrowing rate is used, being the rate that the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security and conditions.\ue61fThe incremental borrowing rate used takes into consideration the lenght of the contract as well as whether the location of the store is central or not.The group is exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset. Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period.Right-of-use assets are measured at cost comprising the following: the amount of the initial measurement of lease liability any lease payments made at or before the commencement date less any lease incentives received\ue61f any initial direct costs, and restoration costs.Right-of-use assets are generally depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis.If the group is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset\u2019s useful life.Payments associated with short-term leases of equipment and vehicles and all leases of low-value assets are recognised on a straight-line basis as an expense in profit or loss.\ue61fShort-term leases are leases with a lease term of 12 months or less. Low-value assets comprise IT equipment and small items of office furniture.Some property leases contain variable payment terms that are linked to sales generated from a store.\ue61f Variable lease payments that depend on sales are recognised in profit or loss in the period in which the condition that triggers those payments occurs.Extension and termination options are included in a number of store leases across the group. These are used to maximise operational flexibility in terms of managing the assets used in the group\u2019s operations. The majority of extension and termination options held are exercisable only by the group and not by the respective lessor.Right of-use-assets 2023 2022Carrying amount at 01.01. 760,734 756,940 Additions and adjustments* 573,430 283,391 Depreciation -311,560 -273,530Currency translation differences 27,424 -6,067Net carrying amount 31.12. 1,050,028 760,734 Lease liabilities 2023 2022Carrying amount at 01.01. 781,785 767,287 Additions and adjustments* 573,430 283,391 Interest expense 43,333 28,497 Lease payments -339,583 -291,320 Currency translation differences 25,962 -6,070 Total lease liabilities 31.12. 1,084,927 781,785* Included in additions and adjustments are new contracts, renegotiated contracts, extentions and index adjustments on existing contracts. In 2023 the lease contract related to the new warehouse in Sweden was included in IFRS 16 as well as several Extended-stores, resulting in material additions. Refer to note 5 for more information on extension options Lease contracts is mainly related to rental agreements for stores and warehouse. Indicators of impairment of right of use contracts have been assessed at the lowest CGU level, being the stores. Management concluded that there were no indicators as per 31 December 2023. The group have lease contracts with turnover based lease payments. This represent variable lease payments that is not included in the lease liablity, but recognised as an expense as incurred. In addition the lease contracts includes some variable non lease components related to shared operating expenses for the buildings and shared marketing. The variable lease payments and non-lease components are dislosed in the table below: 2023 2022Variable lease payments 19,939 18,040 Shared operating costs 80,314 71,374 Marketing costs 22,239 20,398 Sum 19 122,492 109,812 Lease payments 339,583 291,320 Total payments related to lease contracts 462,075 401,132 2023 2022Number of lease contracts 294 288Right to renewal of lease contract 97 83Percentage of lease contracts with option to renewal 33% 29%Number of lease contracts by geography 2023 2022Norway 156 150Sweden 123 124Finland 8 8Estonia 7 6", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__135": { "value": "NOTE 25 | SUBSEQUENT EVENTSOn February 20th 2024, Gjelsten Holding AS sold remaining 4,161,291 shares in Kid ASA, which represents 10.24% of the Company\u2019s share capital.", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXH53K17", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } } } }