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"dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:USD" } }, "f1984": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:USD" } }, "f1987": { "value": "1976000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:USD" } }, "s7_notes__6__15": { "value": "NOTE 1 // CORPORATE INFORMATION Awilco LNG ASA (the Company or Parent Com-pany) is a public limited liability company incor-porated and domiciled in Norway. Its registered office is Beddingen 8, 0250 Oslo, Norway. The Company was incorporated February 2, 2011 and is listed on Euronext Expand with the ticker ALNG.The consolidated financial statements of the Company comprise the Company and its sub-sidiaries, together referred to as the Group or Awilco LNG.The principal activity of the Group is the invest-ment in and operation of LNG transportation vessels. The Group owns and operates two 2013-built TFDE LNG vessels. The consolidated financial statements for the period ended 31 December 2023 were author-ised for issue by the Board of Directors on April 17, 2024 and will be presented for approval at the Annual General Meeting on May 14, 2024.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__14": { "value": "Awilco LNG ASA", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__13": { "value": "Awilco LNG ASA", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__6": { "value": "Awilco LNG ASA", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__8": { "value": "ASA", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__9": { "value": "Norway", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__11": { "value": "Beddingen 8, 0250 Oslo, Norway.", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__10": { "value": "Oslo", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__7": { "value": "Oslo", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__16": { "value": "The consolidated financial statements of the Company comprise the Company and its sub-sidiaries, together referred to as the Group or Awilco LNG.The principal activity of the Group is the invest-ment in and operation of LNG transportation vessels. The Group owns and operates two 2013-built TFDE LNG vessels. The consolidated financial statements for the period ended 31 December 2023 were author-ised for issue by the Board of Directors on April 17, 2024 and will be presented for approval at the Annual General Meeting on May 14, 2024.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__12": { "value": "The principal activity of the Group is the invest-ment in and operation of LNG transportation vessels", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__17": { "value": "NOTE 2 // SUMMARY OF MATERIAL ACCOUNTING POLICIESBasis of preparationThe consolidated financial statements of Awilco LNG have been prepared in accordance with IFRS Acounting Standards as adopted by the European Union and the additional applicable disclosure requirements of the Norwegian accounting act. The consolidated financial state-ments have been prepared on a historical cost basis, except for certain assets, liabilities and financial instruments, which are measured at fair value. The consolidated financial statements are presented in US Dollars (USD) rounded off to the nearest thousands, except as otherwise indicated. The consolidated financial statements have been prepared based on a going concern assumption. Please see the Board of Directors\u2019 report for further information on this matter. The material accounting policies applied in the preparation of these consolidated financial statements are set out below. Basis of consolidationThe consolidated financial statements include Awilco LNG ASA and its subsidiaries. The finan-cial statements of the subsidiaries are prepared for the same reporting period as the parent company, using consistent accounting policies. Significant estimatesEstimation risks in determining the amounts to recognise or disclose are associated with sourc-es of uncertainty. We have identified changing business environment, including changes driven by the environmental improving initiatives and transitional climate changes already present or expected in the near future as sources of estimation risks. This impact estimates such as remaining useful life for vessels and whether vessels are impaired due to shorter useful life, higher cost, regulatory constraints of operations or reduced residual values. These aspects of estimation are further discussed below.Impairment of vessels also involve a significant degree of estimation uncertainty and complex-ity and may result in significant variation in amounts. Estimation uncertainty in these areas is partly related to the sources of uncertainty identified above and partly related to other sources of uncertainty discussed in note 10.RevenueRevenue is recognised at an amount that reflects the consideration to which the Group expects to be entitled in exchange for trans-ferring goods or services to a customer and is presented as freight income net of off-hire deductions. For single voyages, if entered into, revenue is recognised over time according to the load-to-discharge principle. On time charter con-tracts payments are usually received monthly in advance whereas performance obligations are satisfied as follows: Revenue is generated by time charter contracts which contain both a lease element and a vessel management element (service agreement). The lease element is recognised on a straight-line basis over the term of the charter. When the repositioning fees depend upon final redelivery location, they are recognised at a point in time at the end of the charter. The vessel management elements, including ser-vices considered a performance obligations that are satisfied over time, given that the customer simultaneously receives and consumes the ben-efits provided by the Group. Leasing Awilco LNG\u2019s leasesAwilco uses lease contracts primarily to lease vessels and office space. The Company has as-sessed that the office rental is a short-term lease for which no right-of-use asset is recognised.Sale-leaseback arrangementsNo gain or loss was recognised in the income statement related to sale/leaseback arrange-ments when the vessel was sold and subse-quently leased back with repurchase obligations to the Group in 2020. The financial liability is classified as interest bearing debt and measured according to amortised cost using the effective interest method. Associated costs incurred in arranging the lease agreement is amortised over the lease period and presented net of the lease liability in the statement of financial position. Foreign currencyThe consolidated financial statements are presented in USD, which is also the functional currency of all entities in the Group.VesselsVessels are carried at historical cost less accu-mulated depreciation and impairment losses. Costs of vessels include expenditures directly attributable to the acquisition of the vessels. Ex-amples of such costs include supervision costs, site team costs, yard instalments, technical costs and borrowing costs. Each component of a vessels with a cost that is significant in relation to the total cost is sepa-rately identified and depreciated. Components with similar useful lives are grouped into a single component. The vessels are considered as one component, however dry-docking and engine overhauls are identified as separate component of cost of vessels and depreciated separately.Costs related to major inspections/classifications (dry-docking and engine overhauls) are recog-nised in the carrying amount of the vessels. The recognition is made as the dry-docking or overhaul is being performed, and depreciation is recognised from completion of the dry-docking and overhaul until estimated time to the next dry-docking or overhaul. Any remaining carrying amount of the cost of the previous dry-docking or overhaul is de-recognised, and presented as impairment losses in the income statement, upon initiation of the next dry-docking or over-haul. For the vessels, depreciable amount is calculat-ed as cost less residual value and impairment charges. Residual values are calculated based on the vessels\u2019 lightweight tonnage and an esti-mated scrap rate per ton, less related recycling costs. Estimated residual value per vessel is approximately USD 12 million. Cost of scrapping is estimated to 15% of the scrap value. Depreci-ation is calculated on a straight-line basis over the estimated useful life of the assets. Expected useful lives, methods of depreciation and resid-ual values are reviewed yearly. The useful life of the vessels has in the past been estimated to 40 years, and the vessels are depreciated accordingly. As a result of The Group\u2019s annual reassessment at the end of 2023 the normal useful life of LNG vessels has from the 1st of January 2024 been revised from an estimation of 40 years to an estimate of 35 years from delivery. The main reason is prevailing longer-term market trends and all else equal this will increase annual depreciation with ap-proximately USD 1.5 millionSignificant judgment in accounting for depreciation expense Significant judgment is applied in the assess-ment of the useful life of the vessels. Deprecia-tion is based on Management\u2019s estimates of the vessels\u2019 major components, useful lives of the components and the vessels\u2019 residual values less costs associated with scrapping at the end of the vessels\u2019 useful life. Estimates may change due to changes in scrap value, technological development, competition and environmental and legal requirements. Management reviews the future useful lives of each significant component and the residual values of the vessels annually, taking into con-sideration the above-mentioned factors and the observable age for LNG vessels when scrapped. Scrap values are estimated based on forward prices of steel. Any changes in estimated useful lives and/or residual values impact the depre-ciation of the vessels prospectively. Physical climate risk such as changes to weather patterns and severity of rain, storms and other events have not impacted our assessment of the useful life of the vessels. As of December 31, 2023 the vessels had a carrying value of USD 317.3 million, and total residual value was estimated at USD 24 million. Please see note 10 for further information on impairment assessment of vessels. ImpairmentVessels and other fixed assets are assessed for impairment indicators each reporting period. If impairment indicators are identified the recoverable amount is estimated, and if the carrying amount of an asset or cash generating unit (CGU) exceeds its recoverable amount an impairment loss is recognised. Each vessel is as-sessed as a separate cash generating unit (CGU) by Awilco LNG. In assessing whether there is any indication that a vessel may be impaired, the Company consid-ers internal and external indicators, including but not limited to: Significant changes in market interest rates, discount rates and inflation that are used in the impairment test and is expect-ed to decrease the recoverable amount below the carrying amount of a vessel. Significant changes in the market such as decrease in spot rates or significant change in the environmental regulations. Indications that prices in the second-hand market is below the carrying amount if the vessels. Evidence that the economic performance of the vessel is, or will be, worse than expected, including decrease in utilization, net cash flows or operating profit are sig-nificantly worse than expected. Evidence is available of obsolescence or physical damage of a vessel.The recoverable amount is the higher of an as-set\u2019s fair value less cost to sell (net selling price) and value in use. The fair value is the amount obtainable from the sale of an asset in an arm\u2019s length transaction less the costs of disposal. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from its disposal at the end of its useful life. Significant judgment in accounting for impairment of vessels Value in use calculations involve a high degree of estimation and several critical assumptions such as time charter rates, utilisation, operation-al expenses, dry-dockings, useful life, recycling values and discount rates. The key assumptions used in the impairment assessment are dis-closed in note 11, together with sensitivity tables showing the effect on recoverable amount from changes in key assumptions. Changes in circumstances and assumptions may significantly affect the estimated recoverable amounts, and a weak shipping market may result in future impairment losses. Please see note 11 for further information on impairment of vessels.Tests performed in 2023 and 2022 For 2023 the Group identified that the market value of the company was less than the book value of net assets. This is in line with observa-tions made for 2022. As of December 31, 2023, the share price of the company on Euronext Oslo B\u00f8rs was NOK 8.28, slightly up from the share price December 31, 2022 of NOK 8.18. As a result of the change in USD/NOK currency rate the market value of the company decreased by USD 2 million from USD 109 million to USD 107 million in the same period. Total net assets were 145 million and 126 million, respectively. As a result, the gap between the market value of the company and net assets increased by USD 21 million to USD 38 million.Despite this observation, a thorough review of operational forecasts and market conditions revealed no significant indicators suggesting an impairment of the two vessels was warranted. Specifically, the Group did not observe any trends indicative of weaker cash inflows or larger cash outflows than previously projected. This analysis led to the conclusion that there was no indication of impairment for the vessels, negating the need for further recoverable value testing.In 2022, the Company identified the increase in interest rates, resulting in a heightened cost of capital, combined with the observation that the Company\u2019s total net assets were higher than its market capitalisation on the Euronext Oslo B\u00f8rs, as indicators of potential impairment of the two vessels. Consequently, an impairment test was performed at the year-end values. This test confirmed that no impairment was necessary, as the estimated recoverable amounts of the ves-sels exceeded their respective carrying amounts. Further elaboration on this analysis is provided in Note 10.InventoryInventories consist of bunkers and lube oil on board the vessels. Cost is determined in accord-ance with the first-in-first-out principle (FIFO), and expenses related to inventory are presented as voyage related expenses in the income state-ment. TaxesThe income tax expense consists of current The income tax expense consists of current income tax and changes in deferred tax. Current income tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantive-ly enacted at the reporting date, and any adjust-ment to tax payable in respect of previous years. Deferred income tax is provided using the liability method on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. Deferred income tax assets and liabilities is determined using tax rates that are expected to apply to the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax lia-bilities and deferred tax assets are recognised at nominal values and classified as non-current liabilities and non-current assets in the state-ment of financial position. For Group companies subject to tonnage tax regimes, incurred tonnage tax is recognised as an operating expense.Financial instrumentsFinancial assetsFinancial instruments represent a contrac-tual right by Awilco LNG to receive cash or another financial asset in the future. Financial assets include trade receivables and cash and cash equivalents. Financial assets are classified at initial recog-nition and subsequently measured at either amortised cost or fair value through profit or loss.Trade receivables are initially recognized at transaction price at the date when they are originated. Subsequent measurement is at amortized cost using the effective interest method (EIR), and trade receivables are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified, or impaired. The Group applies a simplified approach in calculating impairments and recognises a loss allowance based on lifetime expected credit losses (ECLs) at each reporting date. The Group considers a financial asset in default when contractual payments are 90 days past due. In certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit en-hancements held by the Group. Financial liabilitiesFinancial liabilities represent a contractual obligation by Awilco LNG to deliver cash in the future and are classified as either short- or long-term. Financial liabilities include trade payables and interest-bearing debt.Financial liabilities are classified, at initial recog-nition, as financial liabilities at fair value through profit or loss or financial liabilities measured at amortised cost Trade payables and interest bearing debt are classified as financial liabilities measured at amortised cost and are recognised initially at fair value, net of directly attributable transaction costs. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost. Gains and losses are recognised in profit or loss when the liabilities are derec-ognised as well as through the EIR amortisation process. Amortised cost is calculated by taking into account any discount or premium on acqui-sition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit or loss.Share capitalOrdinary shares are classified as equity. Incre-mental costs directly attributable to the issue of ordinary shares are recognised as a deduction from equity, net of any tax effects. Own equity instruments that are acquired (treasury shares) are recognised at cost and deducted from equi-ty. No gain or loss is recognised in the income statement on the purchase, sale, issue or cancel-lation of the Group\u2019s own equity instruments.DividendsDividend payments are recognised as a liability in the Group\u2019s financial statements from the date when the dividend is approved by the General Meeting. A corresponding amount is recognised towards equity as return of paid in capital. Cash flow statementThe cash flow statement is presented using the indirect method. New and amended standards and interpretationsAmendments and changes to IFRSThe group has applied the following amend-ments for the first time for their annual report-ing period commencing January 1, 2023:i. Material accounting principles \u2013 amendments to IAS 1. Effect on information included in accounting principle, however no effect on recognised amount.", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__20": { "value": "Basis of preparationThe consolidated financial statements of Awilco LNG have been prepared in accordance with IFRS Acounting Standards as adopted by the European Union and the additional applicable disclosure requirements of the Norwegian accounting act. The consolidated financial state-ments have been prepared on a historical cost basis, except for certain assets, liabilities and financial instruments, which are measured at fair value. The consolidated financial statements are presented in US Dollars (USD) rounded off to the nearest thousands, except as otherwise indicated. The consolidated financial statements have been prepared based on a going concern assumption. Please see the Board of Directors\u2019 report for further information on this matter. The material accounting policies applied in the preparation of these consolidated financial statements are set out below.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__19": { "value": "The consolidated financial statements of Awilco LNG have been prepared in accordance with IFRS Acounting Standards as adopted by the European Union and the additional applicable disclosure requirements of the Norwegian accounting act. The consolidated financial state-ments have been prepared on a historical cost basis, except for certain assets, liabilities and financial instruments, which are measured at fair value.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__21": { "value": "The consolidated financial statements are presented in US Dollars (USD) rounded off to the nearest thousands, except as otherwise indicated. The consolidated financial statements have been prepared based on a going concern assumption. Please see the Board of Directors\u2019 report for further information on this matter. The material accounting policies applied in the preparation of these consolidated financial statements are set out below.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__23": { "value": "Basis of consolidationThe consolidated financial statements include Awilco LNG ASA and its subsidiaries. The finan-cial statements of the subsidiaries are prepared for the same reporting period as the parent company, using consistent accounting policies.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__22": { "value": "Basis of consolidationThe consolidated financial statements include Awilco LNG ASA and its subsidiaries. The finan-cial statements of the subsidiaries are prepared for the same reporting period as the parent company, using consistent accounting policies.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__24": { "value": "RevenueRevenue is recognised at an amount that reflects the consideration to which the Group expects to be entitled in exchange for trans-ferring goods or services to a customer and is presented as freight income net of off-hire deductions. For single voyages, if entered into, revenue is recognised over time according to the load-to-discharge principle. On time charter con-tracts payments are usually received monthly in advance whereas performance obligations are satisfied as follows: Revenue is generated by time charter contracts which contain both a lease element and a vessel management element (service agreement). The lease element is recognised on a straight-line basis over the term of the charter. When the repositioning fees depend upon final redelivery location, they are recognised at a point in time at the end of the charter. The vessel management elements, including ser-vices considered a performance obligations that are satisfied over time, given that the customer simultaneously receives and consumes the ben-efits provided by the Group.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__25": { "value": "Leasing Awilco LNG\u2019s leasesAwilco uses lease contracts primarily to lease vessels and office space. The Company has as-sessed that the office rental is a short-term lease for which no right-of-use asset is recognised.Sale-leaseback arrangementsNo gain or loss was recognised in the income statement related to sale/leaseback arrange-ments when the vessel was sold and subse-quently leased back with repurchase obligations to the Group in 2020. The financial liability is classified as interest bearing debt and measured according to amortised cost using the effective interest method. Associated costs incurred in arranging the lease agreement is amortised over the lease period and presented net of the lease liability in the statement of financial position.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__27": { "value": "Foreign currencyThe consolidated financial statements are presented in USD, which is also the functional currency of all entities in the Group.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__26": { "value": "Foreign currencyThe consolidated financial statements are presented in USD, which is also the functional currency of all entities in the Group.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__34": { "value": "VesselsVessels are carried at historical cost less accu-mulated depreciation and impairment losses. Costs of vessels include expenditures directly attributable to the acquisition of the vessels. Ex-amples of such costs include supervision costs, site team costs, yard instalments, technical costs and borrowing costs. Each component of a vessels with a cost that is significant in relation to the total cost is sepa-rately identified and depreciated. Components with similar useful lives are grouped into a single component. The vessels are considered as one component, however dry-docking and engine overhauls are identified as separate component of cost of vessels and depreciated separately.Costs related to major inspections/classifications (dry-docking and engine overhauls) are recog-nised in the carrying amount of the vessels. The recognition is made as the dry-docking or overhaul is being performed, and depreciation is recognised from completion of the dry-docking and overhaul until estimated time to the next dry-docking or overhaul. Any remaining carrying amount of the cost of the previous dry-docking or overhaul is de-recognised, and presented as impairment losses in the income statement, upon initiation of the next dry-docking or over-haul. For the vessels, depreciable amount is calculat-ed as cost less residual value and impairment charges. Residual values are calculated based on the vessels\u2019 lightweight tonnage and an esti-mated scrap rate per ton, less related recycling costs. Estimated residual value per vessel is approximately USD 12 million. Cost of scrapping is estimated to 15% of the scrap value. Depreci-ation is calculated on a straight-line basis over the estimated useful life of the assets. Expected useful lives, methods of depreciation and resid-ual values are reviewed yearly. The useful life of the vessels has in the past been estimated to 40 years, and the vessels are depreciated accordingly. As a result of The Group\u2019s annual reassessment at the end of 2023 the normal useful life of LNG vessels has from the 1st of January 2024 been revised from an estimation of 40 years to an estimate of 35 years from delivery. The main reason is prevailing longer-term market trends and all else equal this will increase annual depreciation with ap-proximately USD 1.5 millionSignificant judgment in accounting for depreciation expense Significant judgment is applied in the assess-ment of the useful life of the vessels. Deprecia-tion is based on Management\u2019s estimates of the vessels\u2019 major components, useful lives of the components and the vessels\u2019 residual values less costs associated with scrapping at the end of the vessels\u2019 useful life. Estimates may change due to changes in scrap value, technological development, competition and environmental and legal requirements. Management reviews the future useful lives of each significant component and the residual values of the vessels annually, taking into con-sideration the above-mentioned factors and the observable age for LNG vessels when scrapped. Scrap values are estimated based on forward prices of steel. Any changes in estimated useful lives and/or residual values impact the depre-ciation of the vessels prospectively. Physical climate risk such as changes to weather patterns and severity of rain, storms and other events have not impacted our assessment of the useful life of the vessels. As of December 31, 2023 the vessels had a carrying value of USD 317.3 million, and total residual value was estimated at USD 24 million. Please see note 10 for further information on impairment assessment of vessels.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__33": { "value": "VesselsVessels are carried at historical cost less accu-mulated depreciation and impairment losses. Costs of vessels include expenditures directly attributable to the acquisition of the vessels. Ex-amples of such costs include supervision costs, site team costs, yard instalments, technical costs and borrowing costs. Each component of a vessels with a cost that is significant in relation to the total cost is sepa-rately identified and depreciated. Components with similar useful lives are grouped into a single component. The vessels are considered as one component, however dry-docking and engine overhauls are identified as separate component of cost of vessels and depreciated separately.Costs related to major inspections/classifications (dry-docking and engine overhauls) are recog-nised in the carrying amount of the vessels. The recognition is made as the dry-docking or overhaul is being performed, and depreciation is recognised from completion of the dry-docking and overhaul until estimated time to the next dry-docking or overhaul. Any remaining carrying amount of the cost of the previous dry-docking or overhaul is de-recognised, and presented as impairment losses in the income statement, upon initiation of the next dry-docking or over-haul. For the vessels, depreciable amount is calculat-ed as cost less residual value and impairment charges. Residual values are calculated based on the vessels\u2019 lightweight tonnage and an esti-mated scrap rate per ton, less related recycling costs. Estimated residual value per vessel is approximately USD 12 million. Cost of scrapping is estimated to 15% of the scrap value. Depreci-ation is calculated on a straight-line basis over the estimated useful life of the assets. Expected useful lives, methods of depreciation and resid-ual values are reviewed yearly. The useful life of the vessels has in the past been estimated to 40 years, and the vessels are depreciated accordingly. As a result of The Group\u2019s annual reassessment at the end of 2023 the normal useful life of LNG vessels has from the 1st of January 2024 been revised from an estimation of 40 years to an estimate of 35 years from delivery. The main reason is prevailing longer-term market trends and all else equal this will increase annual depreciation with ap-proximately USD 1.5 millionSignificant judgment in accounting for depreciation expense Significant judgment is applied in the assess-ment of the useful life of the vessels. Deprecia-tion is based on Management\u2019s estimates of the vessels\u2019 major components, useful lives of the components and the vessels\u2019 residual values less costs associated with scrapping at the end of the vessels\u2019 useful life. Estimates may change due to changes in scrap value, technological development, competition and environmental and legal requirements. Management reviews the future useful lives of each significant component and the residual values of the vessels annually, taking into con-sideration the above-mentioned factors and the observable age for LNG vessels when scrapped. Scrap values are estimated based on forward prices of steel. Any changes in estimated useful lives and/or residual values impact the depre-ciation of the vessels prospectively. Physical climate risk such as changes to weather patterns and severity of rain, storms and other events have not impacted our assessment of the useful life of the vessels. As of December 31, 2023 the vessels had a carrying value of USD 317.3 million, and total residual value was estimated at USD 24 million. Please see note 10 for further information on impairment assessment of vessels.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRepairsAndMaintenanceExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__32": { "value": "VesselsVessels are carried at historical cost less accu-mulated depreciation and impairment losses. Costs of vessels include expenditures directly attributable to the acquisition of the vessels. Ex-amples of such costs include supervision costs, site team costs, yard instalments, technical costs and borrowing costs. Each component of a vessels with a cost that is significant in relation to the total cost is sepa-rately identified and depreciated. Components with similar useful lives are grouped into a single component. The vessels are considered as one component, however dry-docking and engine overhauls are identified as separate component of cost of vessels and depreciated separately.Costs related to major inspections/classifications (dry-docking and engine overhauls) are recog-nised in the carrying amount of the vessels. The recognition is made as the dry-docking or overhaul is being performed, and depreciation is recognised from completion of the dry-docking and overhaul until estimated time to the next dry-docking or overhaul. Any remaining carrying amount of the cost of the previous dry-docking or overhaul is de-recognised, and presented as impairment losses in the income statement, upon initiation of the next dry-docking or over-haul. For the vessels, depreciable amount is calculat-ed as cost less residual value and impairment charges. Residual values are calculated based on the vessels\u2019 lightweight tonnage and an esti-mated scrap rate per ton, less related recycling costs. Estimated residual value per vessel is approximately USD 12 million. Cost of scrapping is estimated to 15% of the scrap value. Depreci-ation is calculated on a straight-line basis over the estimated useful life of the assets. Expected useful lives, methods of depreciation and resid-ual values are reviewed yearly. The useful life of the vessels has in the past been estimated to 40 years, and the vessels are depreciated accordingly. As a result of The Group\u2019s annual reassessment at the end of 2023 the normal useful life of LNG vessels has from the 1st of January 2024 been revised from an estimation of 40 years to an estimate of 35 years from delivery. The main reason is prevailing longer-term market trends and all else equal this will increase annual depreciation with ap-proximately USD 1.5 millionSignificant judgment in accounting for depreciation expense Significant judgment is applied in the assess-ment of the useful life of the vessels. Deprecia-tion is based on Management\u2019s estimates of the vessels\u2019 major components, useful lives of the components and the vessels\u2019 residual values less costs associated with scrapping at the end of the vessels\u2019 useful life. Estimates may change due to changes in scrap value, technological development, competition and environmental and legal requirements. Management reviews the future useful lives of each significant component and the residual values of the vessels annually, taking into con-sideration the above-mentioned factors and the observable age for LNG vessels when scrapped. Scrap values are estimated based on forward prices of steel. Any changes in estimated useful lives and/or residual values impact the depre-ciation of the vessels prospectively. Physical climate risk such as changes to weather patterns and severity of rain, storms and other events have not impacted our assessment of the useful life of the vessels. As of December 31, 2023 the vessels had a carrying value of USD 317.3 million, and total residual value was estimated at USD 24 million. Please see note 10 for further information on impairment assessment of vessels.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__28": { "value": "VesselsVessels are carried at historical cost less accu-mulated depreciation and impairment losses. Costs of vessels include expenditures directly attributable to the acquisition of the vessels. Ex-amples of such costs include supervision costs, site team costs, yard instalments, technical costs and borrowing costs. Each component of a vessels with a cost that is significant in relation to the total cost is sepa-rately identified and depreciated. Components with similar useful lives are grouped into a single component. The vessels are considered as one component, however dry-docking and engine overhauls are identified as separate component of cost of vessels and depreciated separately.Costs related to major inspections/classifications (dry-docking and engine overhauls) are recog-nised in the carrying amount of the vessels. The recognition is made as the dry-docking or overhaul is being performed, and depreciation is recognised from completion of the dry-docking and overhaul until estimated time to the next dry-docking or overhaul. Any remaining carrying amount of the cost of the previous dry-docking or overhaul is de-recognised, and presented as impairment losses in the income statement, upon initiation of the next dry-docking or over-haul. For the vessels, depreciable amount is calculat-ed as cost less residual value and impairment charges. Residual values are calculated based on the vessels\u2019 lightweight tonnage and an esti-mated scrap rate per ton, less related recycling costs. Estimated residual value per vessel is approximately USD 12 million. Cost of scrapping is estimated to 15% of the scrap value. Depreci-ation is calculated on a straight-line basis over the estimated useful life of the assets. Expected useful lives, methods of depreciation and resid-ual values are reviewed yearly. The useful life of the vessels has in the past been estimated to 40 years, and the vessels are depreciated accordingly. As a result of The Group\u2019s annual reassessment at the end of 2023 the normal useful life of LNG vessels has from the 1st of January 2024 been revised from an estimation of 40 years to an estimate of 35 years from delivery. The main reason is prevailing longer-term market trends and all else equal this will increase annual depreciation with ap-proximately USD 1.5 millionSignificant judgment in accounting for depreciation expense Significant judgment is applied in the assess-ment of the useful life of the vessels. Deprecia-tion is based on Management\u2019s estimates of the vessels\u2019 major components, useful lives of the components and the vessels\u2019 residual values less costs associated with scrapping at the end of the vessels\u2019 useful life. Estimates may change due to changes in scrap value, technological development, competition and environmental and legal requirements. Management reviews the future useful lives of each significant component and the residual values of the vessels annually, taking into con-sideration the above-mentioned factors and the observable age for LNG vessels when scrapped. Scrap values are estimated based on forward prices of steel. Any changes in estimated useful lives and/or residual values impact the depre-ciation of the vessels prospectively. Physical climate risk such as changes to weather patterns and severity of rain, storms and other events have not impacted our assessment of the useful life of the vessels. As of December 31, 2023 the vessels had a carrying value of USD 317.3 million, and total residual value was estimated at USD 24 million. Please see note 10 for further information on impairment assessment of vessels.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__36": { "value": "ImpairmentVessels and other fixed assets are assessed for impairment indicators each reporting period. If impairment indicators are identified the recoverable amount is estimated, and if the carrying amount of an asset or cash generating unit (CGU) exceeds its recoverable amount an impairment loss is recognised. Each vessel is as-sessed as a separate cash generating unit (CGU) by Awilco LNG. In assessing whether there is any indication that a vessel may be impaired, the Company consid-ers internal and external indicators, including but not limited to: Significant changes in market interest rates, discount rates and inflation that are used in the impairment test and is expect-ed to decrease the recoverable amount below the carrying amount of a vessel. Significant changes in the market such as decrease in spot rates or significant change in the environmental regulations. Indications that prices in the second-hand market is below the carrying amount if the vessels. Evidence that the economic performance of the vessel is, or will be, worse than expected, including decrease in utilization, net cash flows or operating profit are sig-nificantly worse than expected. Evidence is available of obsolescence or physical damage of a vessel.The recoverable amount is the higher of an as-set\u2019s fair value less cost to sell (net selling price) and value in use. The fair value is the amount obtainable from the sale of an asset in an arm\u2019s length transaction less the costs of disposal. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from its disposal at the end of its useful life. Significant judgment in accounting for impairment of vessels Value in use calculations involve a high degree of estimation and several critical assumptions such as time charter rates, utilisation, operation-al expenses, dry-dockings, useful life, recycling values and discount rates. The key assumptions used in the impairment assessment are dis-closed in note 11, together with sensitivity tables showing the effect on recoverable amount from changes in key assumptions. Changes in circumstances and assumptions may significantly affect the estimated recoverable amounts, and a weak shipping market may result in future impairment losses. Please see note 11 for further information on impairment of vessels.Tests performed in 2023 and 2022 For 2023 the Group identified that the market value of the company was less than the book value of net assets. This is in line with observa-tions made for 2022. As of December 31, 2023, the share price of the company on Euronext Oslo B\u00f8rs was NOK 8.28, slightly up from the share price December 31, 2022 of NOK 8.18. As a result of the change in USD/NOK currency rate the market value of the company decreased by USD 2 million from USD 109 million to USD 107 million in the same period. Total net assets were 145 million and 126 million, respectively. As a result, the gap between the market value of the company and net assets increased by USD 21 million to USD 38 million.Despite this observation, a thorough review of operational forecasts and market conditions revealed no significant indicators suggesting an impairment of the two vessels was warranted. Specifically, the Group did not observe any trends indicative of weaker cash inflows or larger cash outflows than previously projected. This analysis led to the conclusion that there was no indication of impairment for the vessels, negating the need for further recoverable value testing.In 2022, the Company identified the increase in interest rates, resulting in a heightened cost of capital, combined with the observation that the Company\u2019s total net assets were higher than its market capitalisation on the Euronext Oslo B\u00f8rs, as indicators of potential impairment of the two vessels. Consequently, an impairment test was performed at the year-end values. This test confirmed that no impairment was necessary, as the estimated recoverable amounts of the ves-sels exceeded their respective carrying amounts. Further elaboration on this analysis is provided in Note 10.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__35": { "value": "ImpairmentVessels and other fixed assets are assessed for impairment indicators each reporting period. If impairment indicators are identified the recoverable amount is estimated, and if the carrying amount of an asset or cash generating unit (CGU) exceeds its recoverable amount an impairment loss is recognised. Each vessel is as-sessed as a separate cash generating unit (CGU) by Awilco LNG. In assessing whether there is any indication that a vessel may be impaired, the Company consid-ers internal and external indicators, including but not limited to: Significant changes in market interest rates, discount rates and inflation that are used in the impairment test and is expect-ed to decrease the recoverable amount below the carrying amount of a vessel. Significant changes in the market such as decrease in spot rates or significant change in the environmental regulations. Indications that prices in the second-hand market is below the carrying amount if the vessels. Evidence that the economic performance of the vessel is, or will be, worse than expected, including decrease in utilization, net cash flows or operating profit are sig-nificantly worse than expected. Evidence is available of obsolescence or physical damage of a vessel.The recoverable amount is the higher of an as-set\u2019s fair value less cost to sell (net selling price) and value in use. The fair value is the amount obtainable from the sale of an asset in an arm\u2019s length transaction less the costs of disposal. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from its disposal at the end of its useful life. Significant judgment in accounting for impairment of vessels Value in use calculations involve a high degree of estimation and several critical assumptions such as time charter rates, utilisation, operation-al expenses, dry-dockings, useful life, recycling values and discount rates. The key assumptions used in the impairment assessment are dis-closed in note 11, together with sensitivity tables showing the effect on recoverable amount from changes in key assumptions. Changes in circumstances and assumptions may significantly affect the estimated recoverable amounts, and a weak shipping market may result in future impairment losses. Please see note 11 for further information on impairment of vessels.Tests performed in 2023 and 2022 For 2023 the Group identified that the market value of the company was less than the book value of net assets. This is in line with observa-tions made for 2022. As of December 31, 2023, the share price of the company on Euronext Oslo B\u00f8rs was NOK 8.28, slightly up from the share price December 31, 2022 of NOK 8.18. As a result of the change in USD/NOK currency rate the market value of the company decreased by USD 2 million from USD 109 million to USD 107 million in the same period. Total net assets were 145 million and 126 million, respectively. As a result, the gap between the market value of the company and net assets increased by USD 21 million to USD 38 million.Despite this observation, a thorough review of operational forecasts and market conditions revealed no significant indicators suggesting an impairment of the two vessels was warranted. Specifically, the Group did not observe any trends indicative of weaker cash inflows or larger cash outflows than previously projected. This analysis led to the conclusion that there was no indication of impairment for the vessels, negating the need for further recoverable value testing.In 2022, the Company identified the increase in interest rates, resulting in a heightened cost of capital, combined with the observation that the Company\u2019s total net assets were higher than its market capitalisation on the Euronext Oslo B\u00f8rs, as indicators of potential impairment of the two vessels. Consequently, an impairment test was performed at the year-end values. This test confirmed that no impairment was necessary, as the estimated recoverable amounts of the ves-sels exceeded their respective carrying amounts. Further elaboration on this analysis is provided in Note 10.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__38": { "value": "InventoryInventories consist of bunkers and lube oil on board the vessels. Cost is determined in accord-ance with the first-in-first-out principle (FIFO), and expenses related to inventory are presented as voyage related expenses in the income state-ment.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__44": { "value": "TaxesThe income tax expense consists of current The income tax expense consists of current income tax and changes in deferred tax. Current income tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantive-ly enacted at the reporting date, and any adjust-ment to tax payable in respect of previous years. Deferred income tax is provided using the liability method on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. Deferred income tax assets and liabilities is determined using tax rates that are expected to apply to the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax lia-bilities and deferred tax assets are recognised at nominal values and classified as non-current liabilities and non-current assets in the state-ment of financial position. For Group companies subject to tonnage tax regimes, incurred tonnage tax is recognised as an operating expense.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__43": { "value": "TaxesThe income tax expense consists of current The income tax expense consists of current income tax and changes in deferred tax. Current income tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantive-ly enacted at the reporting date, and any adjust-ment to tax payable in respect of previous years. Deferred income tax is provided using the liability method on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. Deferred income tax assets and liabilities is determined using tax rates that are expected to apply to the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax lia-bilities and deferred tax assets are recognised at nominal values and classified as non-current liabilities and non-current assets in the state-ment of financial position. For Group companies subject to tonnage tax regimes, incurred tonnage tax is recognised as an operating expense.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__53": { "value": "Financial instrumentsFinancial assetsFinancial instruments represent a contrac-tual right by Awilco LNG to receive cash or another financial asset in the future. Financial assets include trade receivables and cash and cash equivalents. Financial assets are classified at initial recog-nition and subsequently measured at either amortised cost or fair value through profit or loss.Trade receivables are initially recognized at transaction price at the date when they are originated. Subsequent measurement is at amortized cost using the effective interest method (EIR), and trade receivables are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified, or impaired. The Group applies a simplified approach in calculating impairments and recognises a loss allowance based on lifetime expected credit losses (ECLs) at each reporting date. The Group considers a financial asset in default when contractual payments are 90 days past due. In certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit en-hancements held by the Group. Financial liabilitiesFinancial liabilities represent a contractual obligation by Awilco LNG to deliver cash in the future and are classified as either short- or long-term. Financial liabilities include trade payables and interest-bearing debt.Financial liabilities are classified, at initial recog-nition, as financial liabilities at fair value through profit or loss or financial liabilities measured at amortised cost Trade payables and interest bearing debt are classified as financial liabilities measured at amortised cost and are recognised initially at fair value, net of directly attributable transaction costs. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost. Gains and losses are recognised in profit or loss when the liabilities are derec-ognised as well as through the EIR amortisation process. Amortised cost is calculated by taking into account any discount or premium on acqui-sition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit or loss.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__51": { "value": "Financial instrumentsFinancial assetsFinancial instruments represent a contrac-tual right by Awilco LNG to receive cash or another financial asset in the future. Financial assets include trade receivables and cash and cash equivalents. Financial assets are classified at initial recog-nition and subsequently measured at either amortised cost or fair value through profit or loss.Trade receivables are initially recognized at transaction price at the date when they are originated. Subsequent measurement is at amortized cost using the effective interest method (EIR), and trade receivables are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified, or impaired. The Group applies a simplified approach in calculating impairments and recognises a loss allowance based on lifetime expected credit losses (ECLs) at each reporting date. The Group considers a financial asset in default when contractual payments are 90 days past due. In certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit en-hancements held by the Group. Financial liabilitiesFinancial liabilities represent a contractual obligation by Awilco LNG to deliver cash in the future and are classified as either short- or long-term. Financial liabilities include trade payables and interest-bearing debt.Financial liabilities are classified, at initial recog-nition, as financial liabilities at fair value through profit or loss or financial liabilities measured at amortised cost Trade payables and interest bearing debt are classified as financial liabilities measured at amortised cost and are recognised initially at fair value, net of directly attributable transaction costs. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost. Gains and losses are recognised in profit or loss when the liabilities are derec-ognised as well as through the EIR amortisation process. Amortised cost is calculated by taking into account any discount or premium on acqui-sition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit or loss.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__50": { "value": "Financial instrumentsFinancial assetsFinancial instruments represent a contrac-tual right by Awilco LNG to receive cash or another financial asset in the future. Financial assets include trade receivables and cash and cash equivalents. Financial assets are classified at initial recog-nition and subsequently measured at either amortised cost or fair value through profit or loss.Trade receivables are initially recognized at transaction price at the date when they are originated. Subsequent measurement is at amortized cost using the effective interest method (EIR), and trade receivables are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified, or impaired. The Group applies a simplified approach in calculating impairments and recognises a loss allowance based on lifetime expected credit losses (ECLs) at each reporting date. The Group considers a financial asset in default when contractual payments are 90 days past due. In certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit en-hancements held by the Group. Financial liabilitiesFinancial liabilities represent a contractual obligation by Awilco LNG to deliver cash in the future and are classified as either short- or long-term. Financial liabilities include trade payables and interest-bearing debt.Financial liabilities are classified, at initial recog-nition, as financial liabilities at fair value through profit or loss or financial liabilities measured at amortised cost Trade payables and interest bearing debt are classified as financial liabilities measured at amortised cost and are recognised initially at fair value, net of directly attributable transaction costs. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost. Gains and losses are recognised in profit or loss when the liabilities are derec-ognised as well as through the EIR amortisation process. Amortised cost is calculated by taking into account any discount or premium on acqui-sition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit or loss.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__48": { "value": "Financial instrumentsFinancial assetsFinancial instruments represent a contrac-tual right by Awilco LNG to receive cash or another financial asset in the future. Financial assets include trade receivables and cash and cash equivalents. Financial assets are classified at initial recog-nition and subsequently measured at either amortised cost or fair value through profit or loss.Trade receivables are initially recognized at transaction price at the date when they are originated. Subsequent measurement is at amortized cost using the effective interest method (EIR), and trade receivables are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified, or impaired. The Group applies a simplified approach in calculating impairments and recognises a loss allowance based on lifetime expected credit losses (ECLs) at each reporting date. The Group considers a financial asset in default when contractual payments are 90 days past due. In certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit en-hancements held by the Group. Financial liabilitiesFinancial liabilities represent a contractual obligation by Awilco LNG to deliver cash in the future and are classified as either short- or long-term. Financial liabilities include trade payables and interest-bearing debt.Financial liabilities are classified, at initial recog-nition, as financial liabilities at fair value through profit or loss or financial liabilities measured at amortised cost Trade payables and interest bearing debt are classified as financial liabilities measured at amortised cost and are recognised initially at fair value, net of directly attributable transaction costs. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost. Gains and losses are recognised in profit or loss when the liabilities are derec-ognised as well as through the EIR amortisation process. Amortised cost is calculated by taking into account any discount or premium on acqui-sition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit or loss.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__47": { "value": "Financial instrumentsFinancial assetsFinancial instruments represent a contrac-tual right by Awilco LNG to receive cash or another financial asset in the future. Financial assets include trade receivables and cash and cash equivalents. Financial assets are classified at initial recog-nition and subsequently measured at either amortised cost or fair value through profit or loss.Trade receivables are initially recognized at transaction price at the date when they are originated. Subsequent measurement is at amortized cost using the effective interest method (EIR), and trade receivables are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified, or impaired. The Group applies a simplified approach in calculating impairments and recognises a loss allowance based on lifetime expected credit losses (ECLs) at each reporting date. The Group considers a financial asset in default when contractual payments are 90 days past due. In certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit en-hancements held by the Group. Financial liabilitiesFinancial liabilities represent a contractual obligation by Awilco LNG to deliver cash in the future and are classified as either short- or long-term. Financial liabilities include trade payables and interest-bearing debt.Financial liabilities are classified, at initial recog-nition, as financial liabilities at fair value through profit or loss or financial liabilities measured at amortised cost Trade payables and interest bearing debt are classified as financial liabilities measured at amortised cost and are recognised initially at fair value, net of directly attributable transaction costs. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost. Gains and losses are recognised in profit or loss when the liabilities are derec-ognised as well as through the EIR amortisation process. Amortised cost is calculated by taking into account any discount or premium on acqui-sition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit or loss.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__46": { "value": "Financial instrumentsFinancial assetsFinancial instruments represent a contrac-tual right by Awilco LNG to receive cash or another financial asset in the future. Financial assets include trade receivables and cash and cash equivalents. Financial assets are classified at initial recog-nition and subsequently measured at either amortised cost or fair value through profit or loss.Trade receivables are initially recognized at transaction price at the date when they are originated. Subsequent measurement is at amortized cost using the effective interest method (EIR), and trade receivables are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified, or impaired. The Group applies a simplified approach in calculating impairments and recognises a loss allowance based on lifetime expected credit losses (ECLs) at each reporting date. The Group considers a financial asset in default when contractual payments are 90 days past due. In certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit en-hancements held by the Group. Financial liabilitiesFinancial liabilities represent a contractual obligation by Awilco LNG to deliver cash in the future and are classified as either short- or long-term. Financial liabilities include trade payables and interest-bearing debt.Financial liabilities are classified, at initial recog-nition, as financial liabilities at fair value through profit or loss or financial liabilities measured at amortised cost Trade payables and interest bearing debt are classified as financial liabilities measured at amortised cost and are recognised initially at fair value, net of directly attributable transaction costs. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost. Gains and losses are recognised in profit or loss when the liabilities are derec-ognised as well as through the EIR amortisation process. Amortised cost is calculated by taking into account any discount or premium on acqui-sition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit or loss.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__45": { "value": "Financial instrumentsFinancial assetsFinancial instruments represent a contrac-tual right by Awilco LNG to receive cash or another financial asset in the future. Financial assets include trade receivables and cash and cash equivalents. Financial assets are classified at initial recog-nition and subsequently measured at either amortised cost or fair value through profit or loss.Trade receivables are initially recognized at transaction price at the date when they are originated. Subsequent measurement is at amortized cost using the effective interest method (EIR), and trade receivables are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified, or impaired. The Group applies a simplified approach in calculating impairments and recognises a loss allowance based on lifetime expected credit losses (ECLs) at each reporting date. The Group considers a financial asset in default when contractual payments are 90 days past due. In certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit en-hancements held by the Group. Financial liabilitiesFinancial liabilities represent a contractual obligation by Awilco LNG to deliver cash in the future and are classified as either short- or long-term. Financial liabilities include trade payables and interest-bearing debt.Financial liabilities are classified, at initial recog-nition, as financial liabilities at fair value through profit or loss or financial liabilities measured at amortised cost Trade payables and interest bearing debt are classified as financial liabilities measured at amortised cost and are recognised initially at fair value, net of directly attributable transaction costs. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost. Gains and losses are recognised in profit or loss when the liabilities are derec-ognised as well as through the EIR amortisation process. Amortised cost is calculated by taking into account any discount or premium on acqui-sition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit or loss.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__54": { "value": "Share capitalOrdinary shares are classified as equity. Incre-mental costs directly attributable to the issue of ordinary shares are recognised as a deduction from equity, net of any tax effects. Own equity instruments that are acquired (treasury shares) are recognised at cost and deducted from equi-ty. No gain or loss is recognised in the income statement on the purchase, sale, issue or cancel-lation of the Group\u2019s own equity instruments.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__55": { "value": "DividendsDividend payments are recognised as a liability in the Group\u2019s financial statements from the date when the dividend is approved by the General Meeting. A corresponding amount is recognised towards equity as return of paid in capital.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__59": { "value": "Cash flow statementThe cash flow statement is presented using the indirect method.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__57": { "value": "New and amended standards and interpretationsAmendments and changes to IFRSThe group has applied the following amend-ments for the first time for their annual report-ing period commencing January 1, 2023:i. Material accounting principles \u2013 amendments to IAS 1. Effect on information included in accounting principle, however no effect on recognised amount.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__56": { "value": "New and amended standards and interpretationsAmendments and changes to IFRSThe group has applied the following amend-ments for the first time for their annual report-ing period commencing January 1, 2023:i. Material accounting principles \u2013 amendments to IAS 1. Effect on information included in accounting principle, however no effect on recognised amount.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__67": { "value": "Note 3 // Freight Income In USD thousandsFreight income20232022WilForce 50 503 25 221 WilPride 30 220 26 320 Total freight income 80 723 51 541 Freight income consists of revenues from time charter contracts with customers, and includes time charter hire, ballast bonuses, misc. income and bunkers compensation. MUSD 0.2 of freight income relates to bunkers compensation received from charterers\u2019 on single voyages, which is presented gross in the income statement (MUSD 0.7 in 2022). Time charter freight income is split into a lease element and a service element. For accounting purposes the latter is recognised as revenue, as the Group satisifies its performance obligation of delivering LNG shipping services over time according to the time charter party, concurrent with recognition of the lease element. The following specifies total freight income split into the lease element and the service element:Freight income20232022Lease element 68 850 40 015 Service element 11 872 11 526 Total freight income 80 723 51 541 Contract balances31.12.202331.12.2022Trade receivables from charterers 2 806 3 774 Contract assets - - Contract liabilities 7 533 6 216 Provision sale of inventory - 1 407 Contract liabilities arise from prepayment of time charter hire from charterers (deferred revenue). Time charter hire is usually paid monthly in advance and is recognised as revenue as the Group\u2019s performance obligations are satified over time. Contract assets are reclassified to trade receivables upon invoicing of charter hire. The following specifies the contractual lease element income assessed as operational lease agreements to be received from 1 January 2024 based on firm charter contracts as per December 31, 2023: Contracted future freight income< 6 mon.6 mon. - 1 yr> 1 yrTotalWilForce 27 603 - - 27 603 WilPride 16 471 16 652 28 779 61 902 Total contracted future freight income 44 074 16 652 28 779 89 505 The charterer on WilPride have the option to extend the charter period for two years after the first three year firm period. Optionan period to be declared within August 1, 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__65-1": { "value": "Note 3 // Freight Income In USD thousandsFreight income20232022WilForce 50 503 25 221 WilPride 30 220 26 320 Total freight income 80 723 51 541 Freight income consists of revenues from time charter contracts with customers, and includes time charter hire, ballast bonuses, misc. income and bunkers compensation. MUSD 0.2 of freight income relates to bunkers compensation received from charterers\u2019 on single voyages, which is presented gross in the income statement (MUSD 0.7 in 2022). Time charter freight income is split into a lease element and a service element. For accounting purposes the latter is recognised as revenue, as the Group satisifies its performance obligation of delivering LNG shipping services over time according to the time charter party, concurrent with recognition of the lease element. The following specifies total freight income split into the lease element and the service element:Freight income20232022Lease element 68 850 40 015 Service element 11 872 11 526 Total freight income 80 723 51 541 Contract balances31.12.202331.12.2022Trade receivables from charterers 2 806 3 774 Contract assets - - Contract liabilities 7 533 6 216 Provision sale of inventory - 1 407 Contract liabilities arise from prepayment of time charter hire from charterers (deferred revenue). Time charter hire is usually paid monthly in advance and is recognised as revenue as the Group\u2019s performance obligations are satified over time. Contract assets are reclassified to trade receivables upon invoicing of charter hire. The following specifies the contractual lease element income assessed as operational lease agreements to be received from 1 January 2024 based on firm charter contracts as per December 31, 2023: Contracted future freight income< 6 mon.6 mon. - 1 yr> 1 yrTotalWilForce 27 603 - - 27 603 WilPride 16 471 16 652 28 779 61 902 Total contracted future freight income 44 074 16 652 28 779 89 505 The charterer on WilPride have the option to extend the charter period for two years after the first three year firm period. Optionan period to be declared within August 1, 2025.Note 16 // Finance income and expensesFinance income20232022Interest income 1 092 256 Currency gains 138 198 Other finance income02Total finance income 1 232 457 Net gain/(loss) and valuation adjustment of securities20232022Net gain/(loss) and valuation adjustment of securities - (163)Total Net gain/(loss) and valuation adjustment of securities - (163)Finance expenses20232022Interest expenses finance lease liabilities 18 823 12 838 Interest and fees overdraft facility Currency losses 81 39Other finance expenses 25 23 Total finance expenses 18 929 12 900 For further information on finance lease liabilities please see note 21.Note 21 // Interest-Bearing debtUnder the sale/leaseback arrangements with CCB Financial Leasing Co. Ltd. (CCBFL), commencing in January 2020, WilForce and WilPride are chartered back on bareboat basis to wholly owned subsidiaries of the Company for a period of up to 10 years from the commencement. The bareboat hire is payable quarterly in arrears and has a 14-year straight line amortisation profile. The Group has rolling repurchase options that started in January 2023, repurchase obligations upon termination of the arrange-ments, and same at maturity of the facilities at USD 37.5 million per vessel. In December the Company signed a Term Sheet for refinancing both vessels at significantly improved terms. Documentation of the refinancing is progressing well and the Company expects to utilize the repurchase options and close the new financing during second quarter 2024. As US LIBOR rates ceased to exist as a reference rate from July 1, 2023 the floating element of the Bareboat hire changed refer-ence from LIBOR to SOFR from the start of third quarter 2023. The facility contains a minimum value clause in addition to financial covenants that require the Group to maintain consolidated minimum cash and cash equivalents of USD 10.0 million and positive consolidated working capital. During 2020 the Company and CCBFL agreed to make certain amendments to financial covenants, and as a result of these amendments the Company agreed a permanent restriction from declaring or paying dividends if the consolidated cash position of the Awilco LNG Group is lower than USD 20 million on the day of declaration and the day following the payment. The tem-porarily amended cash covenant of USD 2.0 million ended on June 30, 2021 and the Company is in compliance with all ordinary reinstated covenants.Carrying amountThe net carrying amount of the lease liabilities and other interest bearing debt is presented as follows:31.12.202231.12.2023Short-term interest bearing debt 18 750 18 804 Long-term interest bearing debt 170 782 188 831 Total 189 532 207 635 Interest bearing debt is presented net of capitalized transaction costs which are amortised over the repayment period for the debt.Payments towards lease liabilities2023PrincipalInterestTotalLease payments WilForce 9 375 8 805 18 180 Lease payments WilPride 9 375 8 762 18 137 Total 18 750 17 567 36 317 2022PrincipalInterestTotalLease payments WilForce 9 375 5 192 14 567 Lease payments WilPride 9 375 5 172 14 547 Total 18 750 10 364 29 114 Future minimum lease payments and their present valuePer 31 December 2023< 1 year 1-5 yrs > 5 yrsTotalMinimum lease payments 18 750 75 002 98 434 192 186 Present value of min. lease payments 18 117 57 810 57 143 133 070 Per 31 December 2022< 1 year 1-5 yrs > 5 yrsTotalMinimum lease payments 18 750 75 002 117 185 210 936 Present value of min. lease payments 18 241 60 858 71 795 150 894 Reconciliation of movements of liabilities to cash flows arising from financing activities", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__64": { "value": "Note 3 // Freight Income In USD thousandsFreight income20232022WilForce 50 503 25 221 WilPride 30 220 26 320 Total freight income 80 723 51 541 Freight income consists of revenues from time charter contracts with customers, and includes time charter hire, ballast bonuses, misc. income and bunkers compensation. MUSD 0.2 of freight income relates to bunkers compensation received from charterers\u2019 on single voyages, which is presented gross in the income statement (MUSD 0.7 in 2022). Time charter freight income is split into a lease element and a service element. For accounting purposes the latter is recognised as revenue, as the Group satisifies its performance obligation of delivering LNG shipping services over time according to the time charter party, concurrent with recognition of the lease element. The following specifies total freight income split into the lease element and the service element:Freight income20232022Lease element 68 850 40 015 Service element 11 872 11 526 Total freight income 80 723 51 541 Contract balances31.12.202331.12.2022Trade receivables from charterers 2 806 3 774 Contract assets - - Contract liabilities 7 533 6 216 Provision sale of inventory - 1 407 Contract liabilities arise from prepayment of time charter hire from charterers (deferred revenue). Time charter hire is usually paid monthly in advance and is recognised as revenue as the Group\u2019s performance obligations are satified over time. Contract assets are reclassified to trade receivables upon invoicing of charter hire. The following specifies the contractual lease element income assessed as operational lease agreements to be received from 1 January 2024 based on firm charter contracts as per December 31, 2023: Contracted future freight income< 6 mon.6 mon. - 1 yr> 1 yrTotalWilForce 27 603 - - 27 603 WilPride 16 471 16 652 28 779 61 902 Total contracted future freight income 44 074 16 652 28 779 89 505 The charterer on WilPride have the option to extend the charter period for two years after the first three year firm period. Optionan period to be declared within August 1, 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__68-1": { "value": "Contract balances31.12.202331.12.2022Trade receivables from charterers 2 806 3 774 Contract assets - - Contract liabilities 7 533 6 216 Provision sale of inventory - 1 407 Contract liabilities arise from prepayment of time charter hire from charterers (deferred revenue). Time charter hire is usually paid monthly in advance and is recognised as revenue as the Group\u2019s performance obligations are satified over time. Contract assets are reclassified to trade receivables upon invoicing of charter hire. The following specifies the contractual lease element income assessed as operational lease agreements to be received from 1 January 2024 based on firm charter contracts as per December 31, 2023: Contracted future freight income< 6 mon.6 mon. - 1 yr> 1 yrTotalWilForce 27 603 - - 27 603 WilPride 16 471 16 652 28 779 61 902 Total contracted future freight income 44 074 16 652 28 779 89 505 The charterer on WilPride have the option to extend the charter period for two years after the first three year firm period. Optionan period to be declared within August 1, 2025.In May 2019 WilForce was involved in a collision with another vessel outside Singapore and in a trial related to liability Awilco LNG returned with a verdict of 75:25 in the Company\u2019s favor. In December 2023 a full and final settlement agreement was entered into between all parties. As no effects of the claim have been reflected in Awilco LNG\u2019s financial statements until the awarded compensation which was accounted for in fourth quarter 2023.Note 11 // Trade receivablesTrade receivables31.12.202331.12.2022Trade receivables 2 806 3 774 Allowance for doubtful debts - - Trade receivables carrying value 2 806 3 774 According to contract terms freight income is generally paid in advance, and thus the Group has limited amounts of trade receivables. No losses have been realized on trade receivables in 2023 or 2022. See note 3 regarding contract assets and note 19 regarding management of credit risk.Ageing analysis trade receivablesNeither Past due but not impairedpast due / Totalimpaired < 30 days> 90 days61-90 days30-60 days31.12.2023 2 806 2 806 - - - - 31.12.2022 3 774 3 774 - - - - Note 13 // Other short term assetsOther short term assets31.12.202331.12.2022Prepaid expenses 1 057 279 VAT-receivable 73 58 Insurance claims 498 - Other short term receivables 317 81 Total other short term assets 1 946 419 Please see note 6 for further information on insurance claims. The insurance claims are considered as virtually certain contingent assets.Credit risk Credit risk refers to the risk that a counterparty defaults on its contractual obligations resulting in financial loss to the Group. The Group is exposed to credit risk from its operating activities through trade receivables and from its financing activities, including deposits with banks. The Group aims to do business with creditworthy counterparties only. Prior to entering into a charterparty the Group evaluates the credit quality of the customer, assessing its financial position, credit rating, past experience and other factors. If the coun-terparty is not assessed as of adequate credit quality the Group may demand guarantees and/or prepayment of charter hire to reduce credit risk to an acceptable level. Charter hire is generally paid in advance, effectively reducing the potential exposure to credit risk. The credit quality of outstanding trade receivables as at 31 December 2023 is assessed as very good. The Group has measured the expected credit loss for the coming twelve months and estimated it to NIL. Furthermore, as disclosed in note 12, none of the trade receivables outstanding as at 31 December 2023 are past due. Bank deposits are deposited with interna-tionally recognised financial institutions with a high credit rating. Currently, bank deposits are with banks rated Aa3 by Moody\u2019s, hence the assessed credit risk is minimal. Awilco LNG has not provided any material guarantees for third parties\u2019 labilities, and the maximum exposure to credit risk is represented by the carrying amount of financial assets in the statement of financial position.", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__66-1": { "value": "Freight income consists of revenues from time charter contracts with customers, and includes time charter hire, ballast bonuses, misc. income and bunkers compensation. MUSD 0.2 of freight income relates to bunkers compensation received from charterers\u2019 on single voyages, which is presented gross in the income statement (MUSD 0.7 in 2022).Note 15 // Provisions and accrualsProvisions and accruals31.12.202331.12.2022Accrued expenses, invoice not received 545 685 Accrued interest 4 398 3 848 Deferred revenue (see note 3) 7 533 6 216 Provision sale of inventory - 1 407 Salary related provisions 818 590 Other accruals and provisions 138 - Total provisions and accruals 13 431 12 745 Deferred revenue relates to time charter hire for January invoiced in December of USD 7.5 million. Please see note 3 for contract liabilities.Note 17 // Financial instrumentsFinancial assets at amortised cost Carrying amountFair value31.12.202331.12.202231.12.202331.12.2022Trade receivables 2 806 3 774 2 806 3 774 Other short term assets 889 139 889 139 Cash and cash equivalents 27 094 26 058 27 094 26 058 Total 30 789 29 972 30 789 29 972 Financial liabilities at amortised cost Carrying amountFair value31.12.202331.12.202231.12.202331.12.2022Lease liabilities 189 532 207 614 189 532 207 614 Other non-current liabilities Trade payables 1 649 771 1 649 771 Total 191 182 208 385 191 182 208 385 Fair value of financial instrumentsFair value of trade receivables, other short term assets, cash and cash equivalents and trade payables approximate their carrying amounts due to the short-term maturities of these instruments, all categorised in fair value level 2. The fair value of lease liabilities and other non-current liabilities is estimated by discounting future cash flows using rates for debt on similar terms, credit risk and remaining maturities, categorised in fair value level 3. The fair value of these approximates the carrying amounts. While SOFR has increased the margin has been reduced and we estmate that the sum of the two have not significantly changed for similar debt financing between the date of securing the debt financing and the reporting date.", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__69": { "value": "Note 4 // Segment informationOperating segments The Group currently owns and operates two LNG vessels which operate globally. For internal reporting and management purpos-es the Group\u2019s business is organised into one reporting segment, LNG transportation. Performance is not evaluated by geograph-ical region as the vessels trade globally and revenue is not dependent on any specific country. The Group does not consider the domicile of its customers as a relevant decision making guideline and hence does not consider it relevant to allocate performance to specific geographical locations. Revenue from the Group\u2019s country of domicile, Norway, was NIL in 2023, same as in 2022. Information about major customers In 2023 the Group had two major customers individually contributing with more than 10 % of the Group\u2019s revenues at 37 and 59% of total revenue, compared to four in 2022 contributing 12, 17, 29 and 31%.", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__71": { "value": "Note 5 // Voyage related expensesVoyage related expenses20232022Bunkers consumption 599 5 003 Commissions 634 568 Other voyage expenses 45 660 Total voyage related expenses 1 279 6 231 Bunker consumption relates to periods where the vessels have been idle or repositioning related to special survey and dry-dock, and for single voyage charters where bunkers consumption has been reimbursed by the charterers (see note 3). When the ves-sels are on time charter contracts bunker consumption is for the charterer\u2019s expense.", "dimensions": { "concept": "ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__70-1": { "value": "Note 5 // Voyage related expensesVoyage related expenses20232022Bunkers consumption 599 5 003 Commissions 634 568 Other voyage expenses 45 660 Total voyage related expenses 1 279 6 231 Bunker consumption relates to periods where the vessels have been idle or repositioning related to special survey and dry-dock, and for single voyage charters where bunkers consumption has been reimbursed by the charterers (see note 3). When the ves-sels are on time charter contracts bunker consumption is for the charterer\u2019s expense.Note 7 // Administration expensesAdministration expenses20232022Salaries and other remuneration 2 040 1 770 Social security cost 421 278 Pension 183 137 Other employee related expenses 21 (78)Total employee related expenses 2 665 2 108 Management fees 724 665 Consultant, legal and auditor\u2019s fees 193 211 Other administrative expenses 659 591 Total administration expenses 4 241 3 574 Information regarding remuneration to key management, management fees to related parties, fees to the Board of Directors and auditor\u2019s fees is provided in note 20.Number of onshore employees20232022Onshore employees year end 67Average number of onshore work years 6,9 6,9 PensionsThe Group has a defined contribution plan for onshore employees which complies with the requirements in the Mandatory Occupational Pension act in Norway (\u201c\u201dLov om obligatorisk tjenestepensjon\u201d\u201d). The pension plan is a defined contribution plan. Contributions on salary up until 12G are funded in a life insurance company, whereas contributions on salary over 12G are trans-ferred to a separately administered scheme and pledged towards the participating employees. As at 31 December 2023 the Group\u2019s pension liability was KUSD 544 (31 December 2022 KUSD 569)Note 10 // Vessels and other fixed assetsVessels20232022Cost as at 1 January 421 854 420 809 +Capitalised dry-docking 13 129 2 934 - Disposals (8 066) (1 890)Cost as at 31 December 426 917 421 854 Accumulated depreciation and impairment as at 1 January 104 767 93 937 - Depreciation 12 906 12 720 - Disposals (8 066) (1 890)-Impairment Accumulated depreciation and impairment as at 31 December 109 607 104 767 Carrying amount as at 31 December317 310 317 087 Estimated useful lifes: Vessel main components 35 years40 years Vessel indirect leasing expenses 2 - 5 years2 - 5 years Dry-dock and engine overhauls 4 - 5 years4 - 5 years Multi-period spares 10 years10 yearsEstimated remaining useful life 26 years32 yearsDepreciation method Straight lineStraight lineBoth WilForce and WilPride are financed by sale/leaseback agreements. In the sale leaseback arrangement the company have an purchase obligation in at the end of the charter period in 2030 and the vessels is by that classified as fixed assets. Interest expense, cash ouflow etc on lease liabilities: please see note 16 and note 21. Impairment: Vessels and other fixed assets are assessed for impairment indicators each reporting period. The only potential impairment indicator the Group have identified is that the market value of the company at 31. December 2023 was less than the book value of net assets. The gap has increased compared with the difference at the end of 2022. The Group have not identified other factors that indicates weaker cash inflows or larger cash outflows. Based on this, management has concluded that there is no indication of impairment of the two vessels, and as a result, no further testing of the recoverable value of the vessels has been performed. Reassesment of useful life from 40 years to 35 years is not considered an impairment indicator as it does not impact Net Present value significantly.", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__74": { "value": "Note 6 // Operating expenses and other incomeOperating expenses20232022Crew expenses 5 6255 789Other operating expenses 4 373 3 954 Insurance expenses 1 2811 202Tonnage tax 28 32 Total operating expenses 11 307 10 977 Other income20232022Total other income 4 998 367 In May 2019 WilForce was involved in a collision with another vessel outside Singapore and in a trial related to liability Awilco LNG returned with a verdict of 75:25 in the Company\u2019s favor. In December 2023 a full and final settlement agreement was entered into between all parties. As no effects of the claim have been reflected in Awilco LNG\u2019s financial statements until the awarded compensation which was accounted for in fourth quarter 2023.In 2023 there were a total of 730 trading days and 60 off-hire days related to the second special survey, including dry-dock of both vessels (730 trading days in 2022 and one off-hire day).Number of seafarers20232022Seafarers at year-end57 60", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__73": { "value": "Note 6 // Operating expenses and other incomeOperating expenses20232022Crew expenses 5 6255 789Other operating expenses 4 373 3 954 Insurance expenses 1 2811 202Tonnage tax 28 32 Total operating expenses 11 307 10 977 Other income20232022Total other income 4 998 367 In May 2019 WilForce was involved in a collision with another vessel outside Singapore and in a trial related to liability Awilco LNG returned with a verdict of 75:25 in the Company\u2019s favor. In December 2023 a full and final settlement agreement was entered into between all parties. As no effects of the claim have been reflected in Awilco LNG\u2019s financial statements until the awarded compensation which was accounted for in fourth quarter 2023.In 2023 there were a total of 730 trading days and 60 off-hire days related to the second special survey, including dry-dock of both vessels (730 trading days in 2022 and one off-hire day).Number of seafarers20232022Seafarers at year-end57 60", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__72": { "value": "Note 6 // Operating expenses and other incomeOperating expenses20232022Crew expenses 5 6255 789Other operating expenses 4 373 3 954 Insurance expenses 1 2811 202Tonnage tax 28 32 Total operating expenses 11 307 10 977 Other income20232022Total other income 4 998 367 In May 2019 WilForce was involved in a collision with another vessel outside Singapore and in a trial related to liability Awilco LNG returned with a verdict of 75:25 in the Company\u2019s favor. In December 2023 a full and final settlement agreement was entered into between all parties. As no effects of the claim have been reflected in Awilco LNG\u2019s financial statements until the awarded compensation which was accounted for in fourth quarter 2023.In 2023 there were a total of 730 trading days and 60 off-hire days related to the second special survey, including dry-dock of both vessels (730 trading days in 2022 and one off-hire day).Number of seafarers20232022Seafarers at year-end57 60", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__77-1": { "value": "In May 2019 WilForce was involved in a collision with another vessel outside Singapore and in a trial related to liability Awilco LNG returned with a verdict of 75:25 in the Company\u2019s favor. In December 2023 a full and final settlement agreement was entered into between all parties. As no effects of the claim have been reflected in Awilco LNG\u2019s financial statements until the awarded compensation which was accounted for in fourth quarter 2023.Note 13 // Other short term assetsOther short term assets31.12.202331.12.2022Prepaid expenses 1 057 279 VAT-receivable 73 58 Insurance claims 498 - Other short term receivables 317 81 Total other short term assets 1 946 419 Please see note 6 for further information on insurance claims. The insurance claims are considered as virtually certain contingent assets.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__76-1": { "value": "In May 2019 WilForce was involved in a collision with another vessel outside Singapore and in a trial related to liability Awilco LNG returned with a verdict of 75:25 in the Company\u2019s favor. In December 2023 a full and final settlement agreement was entered into between all parties. As no effects of the claim have been reflected in Awilco LNG\u2019s financial statements until the awarded compensation which was accounted for in fourth quarter 2023.Note 13 // Other short term assetsOther short term assets31.12.202331.12.2022Prepaid expenses 1 057 279 VAT-receivable 73 58 Insurance claims 498 - Other short term receivables 317 81 Total other short term assets 1 946 419 Please see note 6 for further information on insurance claims. The insurance claims are considered as virtually certain contingent assets.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__75-1": { "value": "In May 2019 WilForce was involved in a collision with another vessel outside Singapore and in a trial related to liability Awilco LNG returned with a verdict of 75:25 in the Company\u2019s favor. In December 2023 a full and final settlement agreement was entered into between all parties. As no effects of the claim have been reflected in Awilco LNG\u2019s financial statements until the awarded compensation which was accounted for in fourth quarter 2023.Note 13 // Other short term assetsOther short term assets31.12.202331.12.2022Prepaid expenses 1 057 279 VAT-receivable 73 58 Insurance claims 498 - Other short term receivables 317 81 Total other short term assets 1 946 419 Please see note 6 for further information on insurance claims. The insurance claims are considered as virtually certain contingent assets.", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__82-1": { "value": "Note 7 // Administration expensesAdministration expenses20232022Salaries and other remuneration 2 040 1 770 Social security cost 421 278 Pension 183 137 Other employee related expenses 21 (78)Total employee related expenses 2 665 2 108 Management fees 724 665 Consultant, legal and auditor\u2019s fees 193 211 Other administrative expenses 659 591 Total administration expenses 4 241 3 574 Information regarding remuneration to key management, management fees to related parties, fees to the Board of Directors and auditor\u2019s fees is provided in note 20.Number of onshore employees20232022Onshore employees year end 67Average number of onshore work years 6,9 6,9 PensionsThe Group has a defined contribution plan for onshore employees which complies with the requirements in the Mandatory Occupational Pension act in Norway (\u201c\u201dLov om obligatorisk tjenestepensjon\u201d\u201d). The pension plan is a defined contribution plan. Contributions on salary up until 12G are funded in a life insurance company, whereas contributions on salary over 12G are trans-ferred to a separately administered scheme and pledged towards the participating employees. As at 31 December 2023 the Group\u2019s pension liability was KUSD 544 (31 December 2022 KUSD 569)Note 20 // Related parties To provide the Group with access to important and required knowledge and services, the Group has entered into the following agreements and transactions with related parties:Related partyDescription of serviceNo.Awilco Technical Services AS (ATS) Technical Sub-management Services 1Awilhelmsen Management AS (AWM) Administrative Services 2(1) Until August 7, 2023 the Group\u2019s in-house technical manager, Awilco LNG Technical Management AS (ALNG TM), had a sub-man-agement agreement with ATS, whereby ATS assisted ALNG TM in management of the Group\u2019s fleet. ALNG TM paid ATS a manage-ment fee based on ATS\u2019 costs plus a margin of 7%, cost being time accrued for the sub-manager\u2019s employees involved. The fee was subject to quarterly evaluation and is regulated according to the consumer price index in Norway. The agreement was termi-nated and ended on August 7, 2023. ATS is 100% owned by Awilco AS. From August 8, 2023 the employees of ATS was employed by Integrated Wind Solution AS (IWS) and from that day ALNG TM buy the same services from IWS instead of ATS. ALNG TM will pay IWS a management fee based on an agreed hourly rate for the employees involved. The agreement can be terminated by both parties with six months\u2019 notice. IWS and the Company have the same main shareholder, Awilco AS. As Awilco AS don\u2019t have control in either the Group or in IWS, IWS is not considered a related party under IFRS. (2) AWM provides the Group with administrative and general services including accounting, payroll, legal, secretary function and IT. The Group pays AWM a management fee based on AWM\u2019s costs plus a margin of 5 %. The fee is subject to semi-annual evalua-tion, and is regulated according to the consumer price index in Norway. The agreement can be terminated by both parties with three months notice. AWM is 100 % owned by Awilhelmsen AS, which owns 100 % of Awilco AS. As from June 1, 2023 Awilco LNG moved from offices owned by a non-related party into offices owned by AWM. Subsequently the Company have entered into an agreement to rent offices from AWM at an annual cost of NOK 1.2 million (USD 0.11 million), including common cost and to be adjusted annually according to the consumer price index in Norway. The agreement can be terminated by both parties with six months\u2019 notice and is booked as Administration expenses and no right-of-use assets or lease liability is booked in relation to this agreement. AWM is 100% owned by Awilhelmsen AS, which owns 100% of Awilco AS.Purchases from related parties20232022Awilco Technical Services AS 244428Awilhelmsen Management AS288235Purchases from related parties are included as part of Administration expenses in the income statement. Balances with related parties (liabilities)31.12.202331.12.2022Awilco Technical Services AS - - Awilhelmsen Management AS --Balances with related parties (liabilities) are presented as Trade payables or Provisions and accruals in the statement of financial position. Balances with related parties (assets)31.12.202331.12.2022Awilco Technical Services AS - 142 Awilhelmsen Management AS -5Balances with related parties (assets) are presented as Trade receivables in the statement of financial position.Remuneration to key management2023 RemunerationSalaryBonusPensionsOtherTotalCEO Jon Skule Storheill 3743496030814CFO Per Heiberg 2481183922426Total 62246799521 2402022 RemunerationSalaryBonusPensionsOtherTotalCEO Jon Skule Storheill 3681725230622CFO Per Heiberg 239773122369Total 607 249 83 52 991 Loans, advances and guaranteesAwilco LNG has not provided any loans, advances or guarantees to key management. The Board of Directors\u2019 guidelines regarding remuneration to leading personsThe guidelines regarding remuneration to leading persons have been prepared by the board of directors in accordance with section 6-16 a of the Norwegian Public Limited Liability Companies Act and was adopted by the Annual General Meeting in 2021. Awilco LNG will present a report on remuneration to leading persons to be approved by the Annual general meeting in 2024.The guidelines set out for determination of salaries and other remuneration applies to leadng persons in the Company. The following guidelines were applied in 2021:General policy: The Company shall offer competitive terms of compensation for senior executives to enable the Company to recruit, motivate and retain senior executives. Competitive terms are defined as terms at the same level as those offered by comparable businesses. The total remuneration shall reflect the responsibility and obligations of senior executives, and promote added value to the Company and its shareholders. The remuneration should not be of such a nature or extent that it may nega-tively impact the Company\u2019s reputation. It is the view of the Board that these objectives are important to the Company\u2019s business strategy and long-term interests.The Board determines the remuneration of the chief executive officer. The chief executive officer determines the remuneration of other senior executives. The remuneration of the members of the Board is determined by the Company\u2019s general meeting.Salary and remuneration: Remuneration to senior executives consists of fixed and variable compensation. The fixed compensa-tion consists of a base salary and also includes insurance and pension schemes, car allowance, parking, newspaper and commu-nications to the extent deemed appropriate. The fixed compensation will normally constitute the main part of the remuneration to senior executives. The Company offers a defined contribution plan whereby pension contributions towards salary up to 12G are funded in a life insurance company. Contributions towards salary above 12G are funded by the Company and transferred to a separately admin-istered scheme and pledged towards the participating employees. The plan complies with the requirements in the Mandatory Oc-cupational Pension Act in Norway. The Company\u2019s senior executives are covered by this defined contribution plan. The Company does not have any other pension arrangements for senior executives.The variable compensation consists of variable bonus. Bonus to senior executives shall be related to collective and individual goals, partly based on defined parameters (KPIs) and partly a discretionary evaluation of the Company\u2019s and employee\u2019s per-formance. Bonus payments shall reflect the values brought to the Company and its shareholders, as well as individual achieve-ments. The potential bonus to the CEO is not limited, while the potential bonus to the CFO is limited to 12 months salary.The Company\u2019s CEO and CFO has an agreement of 18 and 12 months severance payment respectively including a six month peri-od of notice in case of involuntary resignation or by redundancy.The Company has no current plans to offer senior executives warrants, options or other forms of remuneration related to shares or the development of the share price in the Company or other companies within the Awilco LNG Group. Issue of shares or granting of share-based payments to senior executives shall only take place upon the General Meeting\u2019s approval. This shall not prevent senior executives from taking part in equity issues on the same terms as other investors.The remuneration of the members of the Board will consist of an annual fixed fee unless the general meeting of the Company decides otherwise. No member of the Board is entitled to any variable remuneration or any compensation upon termination of the membership of the Board.The Company has no current plans to offer senior executives warrants, options or other forms of remuneration related to shares or the development of the share price in the Company or other companies within the Awilco LNG Group. Issue of shares or granting of share-based payments to senior executives shall only take place upon the General Meeting\u2019s approval. This shall not prevent senior executives from taking part in equity issues on the same terms as other investors.Evaluation of compensation to key management in the previous year: The compensation to key management in the previous year was in accordance with the same principles described above. Further details regarding remuneration to key management is specified above.Remuneration to Board of DirectorsRemuneration to the Board of Directors consists of a Director\u2019s fee which is fixed for the year depending on the role on the Board as well as compensation for other Board elected committees. The Board\u2019s fees are approved by the Annual General Meeting. 2023 RemunerationAudit Remuneration Director\u2019s feecommittee feecommittee feeTotalSynne Syrrist 43 5 5 52 Annette Malm Justad 28 28 Jens-Julius Nygaard 28 5 33 Jon-Aksel Torgersen 28 28 Ole Christian Hvidsten 28 5 33 Total compensation for the period 156 9 9 175 2022 RemunerationAudit Remuneration Director\u2019s feecommittee feecommittee feeTotalSynne Syrrist 36 5 5 47 Annette Malm Justad 21 21 Jens-Julius Nygaard 21 5 26 Jon-Aksel Torgersen 21 5 26 Ole Christian Hvidsten* 10 10 Total compensation for the period 109 10 10 130 * Elected at Annual General Meeting on May 24, 2022Directors\u2019 and key management\u2019s shares in the Company as of April 17, 2024Board of DirectorsOrdinary sharesSynne Syrrist - Annette Malm Justad - Jens-Julius Nygaard - Jon-Aksel Torgersen 243 158 Ole Christian Hvidsten - Total 243 158 Key managementOrdinary sharesCEO Jon Skule Storheill 140 000 CFO Per Heiberg - Total 140 000 Auditor\u2019s fee20222023Statutory audit (expensed) 70 68 Other assurance services - - Tax advisory - - Total fees to auditor, excl. VAT 70 68", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__80-1": { "value": "Note 7 // Administration expensesAdministration expenses20232022Salaries and other remuneration 2 040 1 770 Social security cost 421 278 Pension 183 137 Other employee related expenses 21 (78)Total employee related expenses 2 665 2 108 Management fees 724 665 Consultant, legal and auditor\u2019s fees 193 211 Other administrative expenses 659 591 Total administration expenses 4 241 3 574 Information regarding remuneration to key management, management fees to related parties, fees to the Board of Directors and auditor\u2019s fees is provided in note 20.Number of onshore employees20232022Onshore employees year end 67Average number of onshore work years 6,9 6,9 PensionsThe Group has a defined contribution plan for onshore employees which complies with the requirements in the Mandatory Occupational Pension act in Norway (\u201c\u201dLov om obligatorisk tjenestepensjon\u201d\u201d). The pension plan is a defined contribution plan. Contributions on salary up until 12G are funded in a life insurance company, whereas contributions on salary over 12G are trans-ferred to a separately administered scheme and pledged towards the participating employees. As at 31 December 2023 the Group\u2019s pension liability was KUSD 544 (31 December 2022 KUSD 569)Remuneration to key management2023 RemunerationSalaryBonusPensionsOtherTotalCEO Jon Skule Storheill 3743496030814CFO Per Heiberg 2481183922426Total 62246799521 2402022 RemunerationSalaryBonusPensionsOtherTotalCEO Jon Skule Storheill 3681725230622CFO Per Heiberg 239773122369Total 607 249 83 52 991 Loans, advances and guaranteesAwilco LNG has not provided any loans, advances or guarantees to key management. The Board of Directors\u2019 guidelines regarding remuneration to leading personsThe guidelines regarding remuneration to leading persons have been prepared by the board of directors in accordance with section 6-16 a of the Norwegian Public Limited Liability Companies Act and was adopted by the Annual General Meeting in 2021. Awilco LNG will present a report on remuneration to leading persons to be approved by the Annual general meeting in 2024.The guidelines set out for determination of salaries and other remuneration applies to leadng persons in the Company.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__83": { "value": "Note 8 // Earnings per share Basic earnings per share are calculated by dividing profit/(loss) for the year attributable to ordinary equity holders by the weight-ed average number of ordinary shares outstanding during the year. Diluted earnings per share are calculated by dividing the profit/(loss) for the year attributable to ordinary equity holders by the weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be issued on the conversion of all potentially dilutive ordinary shares to ordinary shares. The Company did not have any potentially dilutive ordinary shares as per 31 December 2023 or 31 December 2022.Earnings per share20232022Profit/(loss) for year attributable to ordinary equity holders (KUSD) 38 292 5 800 Weighted average number of shares outstanding, basic and diluted 132 548 611 132 548 611 Basic/diluted earnings per share (USD) 0,29 0,04", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__58": { "value": "Note 8 // Earnings per share Basic earnings per share are calculated by dividing profit/(loss) for the year attributable to ordinary equity holders by the weight-ed average number of ordinary shares outstanding during the year. Diluted earnings per share are calculated by dividing the profit/(loss) for the year attributable to ordinary equity holders by the weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be issued on the conversion of all potentially dilutive ordinary shares to ordinary shares. The Company did not have any potentially dilutive ordinary shares as per 31 December 2023 or 31 December 2022.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__81": { "value": "Number of onshore employees20232022Onshore employees year end 67Average number of onshore work years 6,9 6,9 Pensions", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__86": { "value": "Note 9 // Income taxesTax regimesThe Company\u2019s subsidiaries in which the vessels are held are subject to Norwegian tonnage tax (NTT). Companies subject to NTT are exempt from ordinary tax on income derived from operations in international waters. The subsidiaries subject to NTT are taxed on a notional basis based on the net tonnage of the companies\u2019 vessels. Income and expenses not derived from the operation of vessels in international waters, such as finance income and expenses, are taxed according to ordinary corporate tax in Norway based on the relative composition of financial assets to total assets of the subsidiaries\u2019 balance sheets. The Parent Company and the subsidiaries Awilco LNG Technical Management AS, Awilco LNG 1 AS, Awilco LNG 2 AS and Awilco LNG 3 AS are subject to ordinary corporation tax in Norway. Income tax expense20232022Current income tax - - Changes in deferred tax - - Total income tax expense / (income) - - Specification of basis for deferred tax31.12.2023 31.12.2022Other fixed assets - 0 Gain/loss account 947 1 222 Net pension assets 48 68 Currency effects on long term debt - - Tax loss carry forward 36 443 27 982 Basis for deferred tax asset / (liability) 37 438 29 272 Not recognised deferred tax assets (basis) (37 438) (29 272)Basis for deferred tax asset / (liability) Tax rate 22 %22 %Deferred tax asset / (liability) - - Recognition of deferred income tax assets is subject to strict requirements in respect of the ability to substantiate that suffi-cient taxable profit will be available against which the unutilised tax losses can be used. Based on these requirements and an assessment by the Group, deferred tax assets arising from tax loss carry forward has not been recognised. Utilisation of the tax loss carry forward is not limited in time. Reconciliation of effective tax rate20232022Profit/(loss) before taxes 38 292 5 800 Tax based on ordinary tax rate (22 %) 8 424 1 276 Effects from: Profit subject to tonnage tax (10 499) (1 699)Permanent differences - (44)Not recognised deferred tax asset 1 796 467 Currency effects 279 - Total income tax expense / (income) - - Income tax payable20232022Current tax payable recognised in income statement - - Current tax payable recognised directly in equity - - Total income tax payable - - ", "dimensions": { "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__85": { "value": "Note 9 // Income taxesTax regimesThe Company\u2019s subsidiaries in which the vessels are held are subject to Norwegian tonnage tax (NTT). Companies subject to NTT are exempt from ordinary tax on income derived from operations in international waters. The subsidiaries subject to NTT are taxed on a notional basis based on the net tonnage of the companies\u2019 vessels. Income and expenses not derived from the operation of vessels in international waters, such as finance income and expenses, are taxed according to ordinary corporate tax in Norway based on the relative composition of financial assets to total assets of the subsidiaries\u2019 balance sheets. The Parent Company and the subsidiaries Awilco LNG Technical Management AS, Awilco LNG 1 AS, Awilco LNG 2 AS and Awilco LNG 3 AS are subject to ordinary corporation tax in Norway. Income tax expense20232022Current income tax - - Changes in deferred tax - - Total income tax expense / (income) - - Specification of basis for deferred tax31.12.2023 31.12.2022Other fixed assets - 0 Gain/loss account 947 1 222 Net pension assets 48 68 Currency effects on long term debt - - Tax loss carry forward 36 443 27 982 Basis for deferred tax asset / (liability) 37 438 29 272 Not recognised deferred tax assets (basis) (37 438) (29 272)Basis for deferred tax asset / (liability) Tax rate 22 %22 %Deferred tax asset / (liability) - - Recognition of deferred income tax assets is subject to strict requirements in respect of the ability to substantiate that suffi-cient taxable profit will be available against which the unutilised tax losses can be used. Based on these requirements and an assessment by the Group, deferred tax assets arising from tax loss carry forward has not been recognised. Utilisation of the tax loss carry forward is not limited in time. Reconciliation of effective tax rate20232022Profit/(loss) before taxes 38 292 5 800 Tax based on ordinary tax rate (22 %) 8 424 1 276 Effects from: Profit subject to tonnage tax (10 499) (1 699)Permanent differences - (44)Not recognised deferred tax asset 1 796 467 Currency effects 279 - Total income tax expense / (income) - - Income tax payable20232022Current tax payable recognised in income statement - - Current tax payable recognised directly in equity - - Total income tax payable - - ", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__84": { "value": "Note 9 // Income taxesTax regimesThe Company\u2019s subsidiaries in which the vessels are held are subject to Norwegian tonnage tax (NTT). Companies subject to NTT are exempt from ordinary tax on income derived from operations in international waters. The subsidiaries subject to NTT are taxed on a notional basis based on the net tonnage of the companies\u2019 vessels. Income and expenses not derived from the operation of vessels in international waters, such as finance income and expenses, are taxed according to ordinary corporate tax in Norway based on the relative composition of financial assets to total assets of the subsidiaries\u2019 balance sheets. The Parent Company and the subsidiaries Awilco LNG Technical Management AS, Awilco LNG 1 AS, Awilco LNG 2 AS and Awilco LNG 3 AS are subject to ordinary corporation tax in Norway. Income tax expense20232022Current income tax - - Changes in deferred tax - - Total income tax expense / (income) - - Specification of basis for deferred tax31.12.2023 31.12.2022Other fixed assets - 0 Gain/loss account 947 1 222 Net pension assets 48 68 Currency effects on long term debt - - Tax loss carry forward 36 443 27 982 Basis for deferred tax asset / (liability) 37 438 29 272 Not recognised deferred tax assets (basis) (37 438) (29 272)Basis for deferred tax asset / (liability) Tax rate 22 %22 %Deferred tax asset / (liability) - - Recognition of deferred income tax assets is subject to strict requirements in respect of the ability to substantiate that suffi-cient taxable profit will be available against which the unutilised tax losses can be used. Based on these requirements and an assessment by the Group, deferred tax assets arising from tax loss carry forward has not been recognised. Utilisation of the tax loss carry forward is not limited in time. Reconciliation of effective tax rate20232022Profit/(loss) before taxes 38 292 5 800 Tax based on ordinary tax rate (22 %) 8 424 1 276 Effects from: Profit subject to tonnage tax (10 499) (1 699)Permanent differences - (44)Not recognised deferred tax asset 1 796 467 Currency effects 279 - Total income tax expense / (income) - - Income tax payable20232022Current tax payable recognised in income statement - - Current tax payable recognised directly in equity - - Total income tax payable - - ", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__90": { "value": "Note 10 // Vessels and other fixed assetsVessels20232022Cost as at 1 January 421 854 420 809 +Capitalised dry-docking 13 129 2 934 - Disposals (8 066) (1 890)Cost as at 31 December 426 917 421 854 Accumulated depreciation and impairment as at 1 January 104 767 93 937 - Depreciation 12 906 12 720 - Disposals (8 066) (1 890)-Impairment Accumulated depreciation and impairment as at 31 December 109 607 104 767 Carrying amount as at 31 December317 310 317 087 Estimated useful lifes: Vessel main components 35 years40 years Vessel indirect leasing expenses 2 - 5 years2 - 5 years Dry-dock and engine overhauls 4 - 5 years4 - 5 years Multi-period spares 10 years10 yearsEstimated remaining useful life 26 years32 yearsDepreciation method Straight lineStraight lineBoth WilForce and WilPride are financed by sale/leaseback agreements. In the sale leaseback arrangement the company have an purchase obligation in at the end of the charter period in 2030 and the vessels is by that classified as fixed assets. Interest expense, cash ouflow etc on lease liabilities: please see note 16 and note 21. Impairment: Vessels and other fixed assets are assessed for impairment indicators each reporting period. The only potential impairment indicator the Group have identified is that the market value of the company at 31. December 2023 was less than the book value of net assets. The gap has increased compared with the difference at the end of 2022. The Group have not identified other factors that indicates weaker cash inflows or larger cash outflows. Based on this, management has concluded that there is no indication of impairment of the two vessels, and as a result, no further testing of the recoverable value of the vessels has been performed. Reassesment of useful life from 40 years to 35 years is not considered an impairment indicator as it does not impact Net Present value significantly.", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__89": { "value": "Note 10 // Vessels and other fixed assetsVessels20232022Cost as at 1 January 421 854 420 809 +Capitalised dry-docking 13 129 2 934 - Disposals (8 066) (1 890)Cost as at 31 December 426 917 421 854 Accumulated depreciation and impairment as at 1 January 104 767 93 937 - Depreciation 12 906 12 720 - Disposals (8 066) (1 890)-Impairment Accumulated depreciation and impairment as at 31 December 109 607 104 767 Carrying amount as at 31 December317 310 317 087 Estimated useful lifes: Vessel main components 35 years40 years Vessel indirect leasing expenses 2 - 5 years2 - 5 years Dry-dock and engine overhauls 4 - 5 years4 - 5 years Multi-period spares 10 years10 yearsEstimated remaining useful life 26 years32 yearsDepreciation method Straight lineStraight lineBoth WilForce and WilPride are financed by sale/leaseback agreements. In the sale leaseback arrangement the company have an purchase obligation in at the end of the charter period in 2030 and the vessels is by that classified as fixed assets. Interest expense, cash ouflow etc on lease liabilities: please see note 16 and note 21. Impairment: Vessels and other fixed assets are assessed for impairment indicators each reporting period. The only potential impairment indicator the Group have identified is that the market value of the company at 31. December 2023 was less than the book value of net assets. The gap has increased compared with the difference at the end of 2022. The Group have not identified other factors that indicates weaker cash inflows or larger cash outflows. Based on this, management has concluded that there is no indication of impairment of the two vessels, and as a result, no further testing of the recoverable value of the vessels has been performed. Reassesment of useful life from 40 years to 35 years is not considered an impairment indicator as it does not impact Net Present value significantly.", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__88": { "value": "Note 10 // Vessels and other fixed assetsVessels20232022Cost as at 1 January 421 854 420 809 +Capitalised dry-docking 13 129 2 934 - Disposals (8 066) (1 890)Cost as at 31 December 426 917 421 854 Accumulated depreciation and impairment as at 1 January 104 767 93 937 - Depreciation 12 906 12 720 - Disposals (8 066) (1 890)-Impairment Accumulated depreciation and impairment as at 31 December 109 607 104 767 Carrying amount as at 31 December317 310 317 087 Estimated useful lifes: Vessel main components 35 years40 years Vessel indirect leasing expenses 2 - 5 years2 - 5 years Dry-dock and engine overhauls 4 - 5 years4 - 5 years Multi-period spares 10 years10 yearsEstimated remaining useful life 26 years32 yearsDepreciation method Straight lineStraight lineBoth WilForce and WilPride are financed by sale/leaseback agreements. In the sale leaseback arrangement the company have an purchase obligation in at the end of the charter period in 2030 and the vessels is by that classified as fixed assets. Interest expense, cash ouflow etc on lease liabilities: please see note 16 and note 21. Impairment: Vessels and other fixed assets are assessed for impairment indicators each reporting period. The only potential impairment indicator the Group have identified is that the market value of the company at 31. December 2023 was less than the book value of net assets. The gap has increased compared with the difference at the end of 2022. The Group have not identified other factors that indicates weaker cash inflows or larger cash outflows. Based on this, management has concluded that there is no indication of impairment of the two vessels, and as a result, no further testing of the recoverable value of the vessels has been performed. Reassesment of useful life from 40 years to 35 years is not considered an impairment indicator as it does not impact Net Present value significantly.", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__92": { "value": "Note 11 // Trade receivablesTrade receivables31.12.202331.12.2022Trade receivables 2 806 3 774 Allowance for doubtful debts - - Trade receivables carrying value 2 806 3 774 According to contract terms freight income is generally paid in advance, and thus the Group has limited amounts of trade receivables. No losses have been realized on trade receivables in 2023 or 2022. See note 3 regarding contract assets and note 19 regarding management of credit risk.Ageing analysis trade receivablesNeither Past due but not impairedpast due / Totalimpaired < 30 days> 90 days61-90 days30-60 days31.12.2023 2 806 2 806 - - - - 31.12.2022 3 774 3 774 - - - - ", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__93": { "value": "Note 12 // InventoryInventory31.12.202331.12.2022Bunkers and lube oils 204 233 Total inventory 204 233", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__99": { "value": "Note 14 // Cash and cash equivalents 31.12.202331.12.2022Currency Carrying valueCodeFX rateFX rateFX rateUS dollars USD1 26 259 1 24 996 Norwegian kroner NOK10,1724 835 9,8573 1 062 Total cash and cash equivalents 27 094 26 058 As at 31 December 2023 KUSD 4 643 was restricted cash related to the vessel leases (KUSD 4 355 as at 31 December 2022), KUSD 400 was restricted cash related to employee withholding tax (KUSD 288 as at 31 December 2022), KUSD 82 was restricted cash related to requirements from operating the vessels (KUSD 78 as at 31 December 2022) and KUSD 0 was restricted cash provided as deposit towards the office lease (KUSD 38 as at 31 December 2022).", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__98": { "value": "Note 14 // Cash and cash equivalents 31.12.202331.12.2022Currency Carrying valueCodeFX rateFX rateFX rateUS dollars USD1 26 259 1 24 996 Norwegian kroner NOK10,1724 835 9,8573 1 062 Total cash and cash equivalents 27 094 26 058 As at 31 December 2023 KUSD 4 643 was restricted cash related to the vessel leases (KUSD 4 355 as at 31 December 2022), KUSD 400 was restricted cash related to employee withholding tax (KUSD 288 as at 31 December 2022), KUSD 82 was restricted cash related to requirements from operating the vessels (KUSD 78 as at 31 December 2022) and KUSD 0 was restricted cash provided as deposit towards the office lease (KUSD 38 as at 31 December 2022).", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__102": { "value": "Note 15 // Provisions and accrualsProvisions and accruals31.12.202331.12.2022Accrued expenses, invoice not received 545 685 Accrued interest 4 398 3 848 Deferred revenue (see note 3) 7 533 6 216 Provision sale of inventory - 1 407 Salary related provisions 818 590 Other accruals and provisions 138 - Total provisions and accruals 13 431 12 745 Deferred revenue relates to time charter hire for January invoiced in December of USD 7.5 million. Please see note 3 for contract liabilities.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__101": { "value": "Note 15 // Provisions and accrualsProvisions and accruals31.12.202331.12.2022Accrued expenses, invoice not received 545 685 Accrued interest 4 398 3 848 Deferred revenue (see note 3) 7 533 6 216 Provision sale of inventory - 1 407 Salary related provisions 818 590 Other accruals and provisions 138 - Total provisions and accruals 13 431 12 745 Deferred revenue relates to time charter hire for January invoiced in December of USD 7.5 million. Please see note 3 for contract liabilities.", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__100": { "value": "Note 15 // Provisions and accrualsProvisions and accruals31.12.202331.12.2022Accrued expenses, invoice not received 545 685 Accrued interest 4 398 3 848 Deferred revenue (see note 3) 7 533 6 216 Provision sale of inventory - 1 407 Salary related provisions 818 590 Other accruals and provisions 138 - Total provisions and accruals 13 431 12 745 Deferred revenue relates to time charter hire for January invoiced in December of USD 7.5 million. Please see note 3 for contract liabilities.", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__110": { "value": "Note 16 // Finance income and expensesFinance income20232022Interest income 1 092 256 Currency gains 138 198 Other finance income02Total finance income 1 232 457 Net gain/(loss) and valuation adjustment of securities20232022Net gain/(loss) and valuation adjustment of securities - (163)Total Net gain/(loss) and valuation adjustment of securities - (163)Finance expenses20232022Interest expenses finance lease liabilities 18 823 12 838 Interest and fees overdraft facility Currency losses 81 39Other finance expenses 25 23 Total finance expenses 18 929 12 900 For further information on finance lease liabilities please see note 21.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__109": { "value": "Note 16 // Finance income and expensesFinance income20232022Interest income 1 092 256 Currency gains 138 198 Other finance income02Total finance income 1 232 457 Net gain/(loss) and valuation adjustment of securities20232022Net gain/(loss) and valuation adjustment of securities - (163)Total Net gain/(loss) and valuation adjustment of securities - (163)Finance expenses20232022Interest expenses finance lease liabilities 18 823 12 838 Interest and fees overdraft facility Currency losses 81 39Other finance expenses 25 23 Total finance expenses 18 929 12 900 For further information on finance lease liabilities please see note 21.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__108-1": { "value": "Note 16 // Finance income and expensesFinance income20232022Interest income 1 092 256 Currency gains 138 198 Other finance income02Total finance income 1 232 457 Net gain/(loss) and valuation adjustment of securities20232022Net gain/(loss) and valuation adjustment of securities - (163)Total Net gain/(loss) and valuation adjustment of securities - (163)Finance expenses20232022Interest expenses finance lease liabilities 18 823 12 838 Interest and fees overdraft facility Currency losses 81 39Other finance expenses 25 23 Total finance expenses 18 929 12 900 For further information on finance lease liabilities please see note 21.Note 21 // Interest-Bearing debtUnder the sale/leaseback arrangements with CCB Financial Leasing Co. Ltd. (CCBFL), commencing in January 2020, WilForce and WilPride are chartered back on bareboat basis to wholly owned subsidiaries of the Company for a period of up to 10 years from the commencement. The bareboat hire is payable quarterly in arrears and has a 14-year straight line amortisation profile. The Group has rolling repurchase options that started in January 2023, repurchase obligations upon termination of the arrange-ments, and same at maturity of the facilities at USD 37.5 million per vessel. In December the Company signed a Term Sheet for refinancing both vessels at significantly improved terms. Documentation of the refinancing is progressing well and the Company expects to utilize the repurchase options and close the new financing during second quarter 2024. As US LIBOR rates ceased to exist as a reference rate from July 1, 2023 the floating element of the Bareboat hire changed refer-ence from LIBOR to SOFR from the start of third quarter 2023. The facility contains a minimum value clause in addition to financial covenants that require the Group to maintain consolidated minimum cash and cash equivalents of USD 10.0 million and positive consolidated working capital. During 2020 the Company and CCBFL agreed to make certain amendments to financial covenants, and as a result of these amendments the Company agreed a permanent restriction from declaring or paying dividends if the consolidated cash position of the Awilco LNG Group is lower than USD 20 million on the day of declaration and the day following the payment. The tem-porarily amended cash covenant of USD 2.0 million ended on June 30, 2021 and the Company is in compliance with all ordinary reinstated covenants.Carrying amountThe net carrying amount of the lease liabilities and other interest bearing debt is presented as follows:31.12.202231.12.2023Short-term interest bearing debt 18 750 18 804 Long-term interest bearing debt 170 782 188 831 Total 189 532 207 635 Interest bearing debt is presented net of capitalized transaction costs which are amortised over the repayment period for the debt.Payments towards lease liabilities2023PrincipalInterestTotalLease payments WilForce 9 375 8 805 18 180 Lease payments WilPride 9 375 8 762 18 137 Total 18 750 17 567 36 317 2022PrincipalInterestTotalLease payments WilForce 9 375 5 192 14 567 Lease payments WilPride 9 375 5 172 14 547 Total 18 750 10 364 29 114 Future minimum lease payments and their present valuePer 31 December 2023< 1 year 1-5 yrs > 5 yrsTotalMinimum lease payments 18 750 75 002 98 434 192 186 Present value of min. lease payments 18 117 57 810 57 143 133 070 Per 31 December 2022< 1 year 1-5 yrs > 5 yrsTotalMinimum lease payments 18 750 75 002 117 185 210 936 Present value of min. lease payments 18 241 60 858 71 795 150 894 Reconciliation of movements of liabilities to cash flows arising from financing activitiesLiabilitiesOther non- Long-term Short-term Interest current interest interest payableliabilitiesbearing debtbearing debtTotal - 188 831 18 804 207 635 Balance as at 1 January 2023Repayment of borrowings - - - (18 750) (18 750)Interest costs paid (17 567) - - - (17 568)Total changes from financing cash flows (17 567) - - (18 750) (36 318)Liability related changesReclass from short-term to long-term (18 750) 18 750 - Non-cash movements 701 (54)Balance as at 31 December 2023 170 782 18 750 189 532 LiabilitiesOther non- Long-term Short-term Interest current interest interest payableliabilitiesbearing debtbearing debtTotal - 206 906 18 890 225 796 Balance as at 1 January 2022Repayment of borrowings - - - (18 750) (18 750)Interest costs paid (10 364) - - - (10 364)Total changes from financing cash flows (10 364) - - (18 750) (29 114)Liability related changesReclass from short-term to long-term - (18 750) 18 750 - Non-cash movements - 675 (86)Balance as at 31 December 2022 - 188 831 18 804 207 635 \u201cNon cash movements\u201d includes the effect of reclassification of non-current portion of amortazing borrowing costs, and lease liabilities to current due the passage of time. The Group calssifies interest cost paid as cash flow from operation activities.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__107": { "value": "Note 16 // Finance income and expensesFinance income20232022Interest income 1 092 256 Currency gains 138 198 Other finance income02Total finance income 1 232 457 Net gain/(loss) and valuation adjustment of securities20232022Net gain/(loss) and valuation adjustment of securities - (163)Total Net gain/(loss) and valuation adjustment of securities - (163)Finance expenses20232022Interest expenses finance lease liabilities 18 823 12 838 Interest and fees overdraft facility Currency losses 81 39Other finance expenses 25 23 Total finance expenses 18 929 12 900 For further information on finance lease liabilities please see note 21.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__106": { "value": "Note 16 // Finance income and expensesFinance income20232022Interest income 1 092 256 Currency gains 138 198 Other finance income02Total finance income 1 232 457 Net gain/(loss) and valuation adjustment of securities20232022Net gain/(loss) and valuation adjustment of securities - (163)Total Net gain/(loss) and valuation adjustment of securities - (163)Finance expenses20232022Interest expenses finance lease liabilities 18 823 12 838 Interest and fees overdraft facility Currency losses 81 39Other finance expenses 25 23 Total finance expenses 18 929 12 900 For further information on finance lease liabilities please see note 21.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__105": { "value": "Note 16 // Finance income and expensesFinance income20232022Interest income 1 092 256 Currency gains 138 198 Other finance income02Total finance income 1 232 457 Net gain/(loss) and valuation adjustment of securities20232022Net gain/(loss) and valuation adjustment of securities - (163)Total Net gain/(loss) and valuation adjustment of securities - (163)Finance expenses20232022Interest expenses finance lease liabilities 18 823 12 838 Interest and fees overdraft facility Currency losses 81 39Other finance expenses 25 23 Total finance expenses 18 929 12 900 For further information on finance lease liabilities please see note 21.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__114": { "value": "Note 17 // Financial instrumentsFinancial assets at amortised cost Carrying amountFair value31.12.202331.12.202231.12.202331.12.2022Trade receivables 2 806 3 774 2 806 3 774 Other short term assets 889 139 889 139 Cash and cash equivalents 27 094 26 058 27 094 26 058 Total 30 789 29 972 30 789 29 972 Financial liabilities at amortised cost Carrying amountFair value31.12.202331.12.202231.12.202331.12.2022Lease liabilities 189 532 207 614 189 532 207 614 Other non-current liabilities Trade payables 1 649 771 1 649 771 Total 191 182 208 385 191 182 208 385 Fair value of financial instrumentsFair value of trade receivables, other short term assets, cash and cash equivalents and trade payables approximate their carrying amounts due to the short-term maturities of these instruments, all categorised in fair value level 2. The fair value of lease liabilities and other non-current liabilities is estimated by discounting future cash flows using rates for debt on similar terms, credit risk and remaining maturities, categorised in fair value level 3. The fair value of these approximates the carrying amounts. While SOFR has increased the margin has been reduced and we estmate that the sum of the two have not significantly changed for similar debt financing between the date of securing the debt financing and the reporting date.", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__113": { "value": "Note 17 // Financial instrumentsFinancial assets at amortised cost Carrying amountFair value31.12.202331.12.202231.12.202331.12.2022Trade receivables 2 806 3 774 2 806 3 774 Other short term assets 889 139 889 139 Cash and cash equivalents 27 094 26 058 27 094 26 058 Total 30 789 29 972 30 789 29 972 Financial liabilities at amortised cost Carrying amountFair value31.12.202331.12.202231.12.202331.12.2022Lease liabilities 189 532 207 614 189 532 207 614 Other non-current liabilities Trade payables 1 649 771 1 649 771 Total 191 182 208 385 191 182 208 385 Fair value of financial instrumentsFair value of trade receivables, other short term assets, cash and cash equivalents and trade payables approximate their carrying amounts due to the short-term maturities of these instruments, all categorised in fair value level 2. The fair value of lease liabilities and other non-current liabilities is estimated by discounting future cash flows using rates for debt on similar terms, credit risk and remaining maturities, categorised in fair value level 3. The fair value of these approximates the carrying amounts. While SOFR has increased the margin has been reduced and we estmate that the sum of the two have not significantly changed for similar debt financing between the date of securing the debt financing and the reporting date.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__112": { "value": "Note 17 // Financial instrumentsFinancial assets at amortised cost Carrying amountFair value31.12.202331.12.202231.12.202331.12.2022Trade receivables 2 806 3 774 2 806 3 774 Other short term assets 889 139 889 139 Cash and cash equivalents 27 094 26 058 27 094 26 058 Total 30 789 29 972 30 789 29 972 Financial liabilities at amortised cost Carrying amountFair value31.12.202331.12.202231.12.202331.12.2022Lease liabilities 189 532 207 614 189 532 207 614 Other non-current liabilities Trade payables 1 649 771 1 649 771 Total 191 182 208 385 191 182 208 385 Fair value of financial instrumentsFair value of trade receivables, other short term assets, cash and cash equivalents and trade payables approximate their carrying amounts due to the short-term maturities of these instruments, all categorised in fair value level 2. The fair value of lease liabilities and other non-current liabilities is estimated by discounting future cash flows using rates for debt on similar terms, credit risk and remaining maturities, categorised in fair value level 3. The fair value of these approximates the carrying amounts. While SOFR has increased the margin has been reduced and we estmate that the sum of the two have not significantly changed for similar debt financing between the date of securing the debt financing and the reporting date.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__111": { "value": "Note 17 // Financial instrumentsFinancial assets at amortised cost Carrying amountFair value31.12.202331.12.202231.12.202331.12.2022Trade receivables 2 806 3 774 2 806 3 774 Other short term assets 889 139 889 139 Cash and cash equivalents 27 094 26 058 27 094 26 058 Total 30 789 29 972 30 789 29 972 Financial liabilities at amortised cost Carrying amountFair value31.12.202331.12.202231.12.202331.12.2022Lease liabilities 189 532 207 614 189 532 207 614 Other non-current liabilities Trade payables 1 649 771 1 649 771 Total 191 182 208 385 191 182 208 385 Fair value of financial instrumentsFair value of trade receivables, other short term assets, cash and cash equivalents and trade payables approximate their carrying amounts due to the short-term maturities of these instruments, all categorised in fair value level 2. The fair value of lease liabilities and other non-current liabilities is estimated by discounting future cash flows using rates for debt on similar terms, credit risk and remaining maturities, categorised in fair value level 3. The fair value of these approximates the carrying amounts. While SOFR has increased the margin has been reduced and we estmate that the sum of the two have not significantly changed for similar debt financing between the date of securing the debt financing and the reporting date.", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__117": { "value": "Note 18 // Share capital and shareholdersPar value Share capital Share capitalNumber of sharesNOKUSDShare capital as at 31 December 2021 132 548 611 0.10 1 976 Share capital reduction - - - Issued shares - - - Share capital as at 31 December 2022 132 548 611 0.10 1 976 Share capital as at 31 December 2022 132 548 611 0.10 1 976 Share capital reduction - - - Issued shares - - - Share capital as at 31 December 2023 132 548 611 0.10 1 976 The share capital is denominated in NOK. All issued shares are of equal rights. Overview of shareholders as at 31 December 2023ShareholderNumber of sharesIn %Awilco AS 51 114 08038,6%Morgan Stanley & Co. Int. Plc. 34 812 83526,3%SEB CMU/SECFIN Pooled Account 2 329 7631,8%The Bank of New York Mellon SA/NV 1 870 7291,4%Vidar Anfin Taranger 1 759 7331,3%Interactive Brokers LLC 1 729 5401,3%The Bank of New York Mellon SA/NV 1 547 3521,2%Patronia AS 1 322 9881,0%HSBC Bank Plc. 1 252 6480,9%Clearstream Banking S.A. 1 229 1500,9%The Bank of New York Mellon 1 110 9510,8%The Bank of New York Mellon 1 028 9550,8%Union Bancaire Privee, UBP SA 1 010 5670,8%Kilsholmen AS 809 5000,6%State Street Bank and Trust Comp 786 5770,6%Skips AS Tudor 781 4290,6%Nordnet Livsforsikring AS 752 0920,6%Total > 0.5% 105 248 88979,4%Other shareholders 27 299 72220,6%Total 132 548 611100.0%", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__116": { "value": "Note 18 // Share capital and shareholdersPar value Share capital Share capitalNumber of sharesNOKUSDShare capital as at 31 December 2021 132 548 611 0.10 1 976 Share capital reduction - - - Issued shares - - - Share capital as at 31 December 2022 132 548 611 0.10 1 976 Share capital as at 31 December 2022 132 548 611 0.10 1 976 Share capital reduction - - - Issued shares - - - Share capital as at 31 December 2023 132 548 611 0.10 1 976 The share capital is denominated in NOK. All issued shares are of equal rights. Overview of shareholders as at 31 December 2023ShareholderNumber of sharesIn %Awilco AS 51 114 08038,6%Morgan Stanley & Co. Int. Plc. 34 812 83526,3%SEB CMU/SECFIN Pooled Account 2 329 7631,8%The Bank of New York Mellon SA/NV 1 870 7291,4%Vidar Anfin Taranger 1 759 7331,3%Interactive Brokers LLC 1 729 5401,3%The Bank of New York Mellon SA/NV 1 547 3521,2%Patronia AS 1 322 9881,0%HSBC Bank Plc. 1 252 6480,9%Clearstream Banking S.A. 1 229 1500,9%The Bank of New York Mellon 1 110 9510,8%The Bank of New York Mellon 1 028 9550,8%Union Bancaire Privee, UBP SA 1 010 5670,8%Kilsholmen AS 809 5000,6%State Street Bank and Trust Comp 786 5770,6%Skips AS Tudor 781 4290,6%Nordnet Livsforsikring AS 752 0920,6%Total > 0.5% 105 248 88979,4%Other shareholders 27 299 72220,6%Total 132 548 611100.0%", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__122": { "value": "Note 19 // Capital and financial risk managementCapital managementA key objective in Awilco LNG\u2019s capital management is to ensure that the Group maintains a capital structure in order to support its business, maintain investor and creditor confidence and maximise shareholder value. The Group evaluates its capital struc-ture in light of current and projected cash flow, the relative strength of the shipping markets, new business opportunities and the Group\u2019s financial commitments. As part of the Group\u2019s long term capital management strategy, the Company is listed on Euron-ext Expand. Capital is managed on Group level, although each vessel owning company has a capital structure adressing company specific financial and operational requirements and risks.The Group monitors its capital using the book equity ratio:Equity ratio31.12.202331.12.2022Book equity 144 712 126 387 Total assets 349 869 348 107 Book equity ratio 41 %36 %Dividend policyThe Group\u2019s intention is to pay regular dividends in support of the Group\u2019s main objective of maximising returns to shareholders. The Board of Directors approved a revised dividend policy in November 2022. The Board is committed to return value to share-holders and intend to continue to distribute a substantial part of annual free cash flow, paid out quarterly, always subject to debt covenants, capital requirements and a robust cash buffer.Financial risk management The Group is in its business exposed to financial risks such as market risk, credit risk and liquidity risk. The Group\u2019s manage-ment identifies, evaluates and implements necessary actions to manage and mitigate these risks. The Board of Directors reviews and agrees to the policies for managing each of these risks, which are summarised below.Market risk Market risk from financial instruments is the risk that future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprise three types of risk: interest rate risk, foreign currency risk and price risk. Financial instruments held by the Group are affected by market risk. The Group does not enter into any financial instruments, including financial derivatives, for trading purposes. Interest rate risk: At the balance sheet date the Group had oustanding lease liabilities on the vessels of MUSD 189.5 that was subject to a floating interest charge (USD SOFR). Each 100 bps change in USD SOFR would have an effect on the profit/(loss) for the reporting period of MUSD 1.9 and no direct effect on equity. The Group also had bank deposits subject to floating NIBOR and SOFR rates. No interest rate derivatives have been entered into to mitigate the floating interest rate risk. The Group contin-ually assess the need for hedging interest rate risk. Foreign currency risk: The functional currency of all the entities in the Group is USD, and the Group has limited currency risk arising from operations, as income and the majority of operating expenses and vessel investments are denominated in USD. However, the Group has exposure to NOK, as administration expenses and parts of cash and cash equivalents, other short term assets, trade payables and provisions and accruals are denominated in NOK. Financial instruments denominated in cur-rencies other than USD at 31 December 2023 include trade payables, other short term assets and bank deposits in NOK, which represents a net long exposure to NOK. Based on these financial instruments denominated in NOK at 31 December 2023, a 10 % change in the USD/NOK rate would have an effect on the profit/(loss) for the reporting period of KUSD 45 and no direct effect on equity (KUSD 42 in profit/(loss) effect in 2022). Price risk: The Group will normally have limited exposure to risks associated with price fluctuations on bunker oil, as the bunkers is for the charterers account when the vessels are on contract. The Group has currently not entered into any bunkers derivatives, however this is subject to continuous assessments. The Group is also subject to price risk related to the spot/short term charter market for chartering LNG carriers, which is uncer-tain and volatile and will depend upon, among other things, the natural gas prices, tonnage supply and energy markets which the Group cannot predict. Currently, no financial instruments has been entered into to reduce this risk. Credit risk Credit risk refers to the risk that a counterparty defaults on its contractual obligations resulting in financial loss to the Group. The Group is exposed to credit risk from its operating activities through trade receivables and from its financing activities, including deposits with banks. The Group aims to do business with creditworthy counterparties only. Prior to entering into a charterparty the Group evaluates the credit quality of the customer, assessing its financial position, credit rating, past experience and other factors. If the coun-terparty is not assessed as of adequate credit quality the Group may demand guarantees and/or prepayment of charter hire to reduce credit risk to an acceptable level. Charter hire is generally paid in advance, effectively reducing the potential exposure to credit risk. The credit quality of outstanding trade receivables as at 31 December 2023 is assessed as very good. The Group has measured the expected credit loss for the coming twelve months and estimated it to NIL. Furthermore, as disclosed in note 12, none of the trade receivables outstanding as at 31 December 2023 are past due. Bank deposits are deposited with interna-tionally recognised financial institutions with a high credit rating. Currently, bank deposits are with banks rated Aa3 by Moody\u2019s, hence the assessed credit risk is minimal. Awilco LNG has not provided any material guarantees for third parties\u2019 labilities, and the maximum exposure to credit risk is represented by the carrying amount of financial assets in the statement of financial position. Liquidity risk The Group\u2019s approach to managing liquidity risk is to ensure, as far as possible, that it has sufficient liquidity and/or undrawn commited credit facilities at all times to meet its obligations without incurring unacceptable losses or risking damage to the Group\u2019s reputation. To ensure this, the Group continuously monitors the maturity of the financial assets and liabilities and projected cash flows from operations. Please see the liquidity risk section in the Board of Directors\u2019 report for further informa-tion.The WilForce and WilPride sale/leaseback facilities provided by CCB Financial Leasing Co. Ltd.(CCBFL) contains a minimum value clause in addition to financial covenants that require the Awilco LNG Group to maintain consolidated minimum cash and cash equivalents of USD 10.0 million and positive consolidated working capital. During 2020 the Company and CCBFL agreed to make certain amendments to financial covenants including a restriction from declaring or paying dividends if the consoli-dated cash position of the Awilco LNG Group is lower than USD 20 million on the day of declaration and the day following the payment. The Company is in compliance with all covenants. The table below summarises the maturity profile of the Group\u2019s financial liabilities based on contractual undiscounted payments: Per 31 December 2023 < 3 months 3-12 months 1-5 years > 5 yearsTotalTrade payables 1 649 - - - 1 649 Interest -bearing debt 4 688 14 064 75 008 95 772 189 532 Minimum interest payment 4 535 12 810 51 771 10 429 79 545 Total 10 872 26 874 126 779 106 202 270 726 Per 31 December 2022 < 3 months 3-12 months 1-5 years > 5 yearsTotalTrade payables 771 - - - 771 Interest -bearing debt 4 688 14 064 75 008 113 854 207 614 Minimum interest payment 3 968 11 250 46 879 16 542 78 639 Total 9 427 25 314 121 887 130 397 287 024", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__121": { "value": "Note 19 // Capital and financial risk managementCapital managementA key objective in Awilco LNG\u2019s capital management is to ensure that the Group maintains a capital structure in order to support its business, maintain investor and creditor confidence and maximise shareholder value. The Group evaluates its capital struc-ture in light of current and projected cash flow, the relative strength of the shipping markets, new business opportunities and the Group\u2019s financial commitments. As part of the Group\u2019s long term capital management strategy, the Company is listed on Euron-ext Expand. Capital is managed on Group level, although each vessel owning company has a capital structure adressing company specific financial and operational requirements and risks.The Group monitors its capital using the book equity ratio:Equity ratio31.12.202331.12.2022Book equity 144 712 126 387 Total assets 349 869 348 107 Book equity ratio 41 %36 %Dividend policyThe Group\u2019s intention is to pay regular dividends in support of the Group\u2019s main objective of maximising returns to shareholders. The Board of Directors approved a revised dividend policy in November 2022. The Board is committed to return value to share-holders and intend to continue to distribute a substantial part of annual free cash flow, paid out quarterly, always subject to debt covenants, capital requirements and a robust cash buffer.Financial risk management The Group is in its business exposed to financial risks such as market risk, credit risk and liquidity risk. The Group\u2019s manage-ment identifies, evaluates and implements necessary actions to manage and mitigate these risks. The Board of Directors reviews and agrees to the policies for managing each of these risks, which are summarised below.Market risk Market risk from financial instruments is the risk that future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprise three types of risk: interest rate risk, foreign currency risk and price risk. Financial instruments held by the Group are affected by market risk. The Group does not enter into any financial instruments, including financial derivatives, for trading purposes. Interest rate risk: At the balance sheet date the Group had oustanding lease liabilities on the vessels of MUSD 189.5 that was subject to a floating interest charge (USD SOFR). Each 100 bps change in USD SOFR would have an effect on the profit/(loss) for the reporting period of MUSD 1.9 and no direct effect on equity. The Group also had bank deposits subject to floating NIBOR and SOFR rates. No interest rate derivatives have been entered into to mitigate the floating interest rate risk. The Group contin-ually assess the need for hedging interest rate risk. Foreign currency risk: The functional currency of all the entities in the Group is USD, and the Group has limited currency risk arising from operations, as income and the majority of operating expenses and vessel investments are denominated in USD. However, the Group has exposure to NOK, as administration expenses and parts of cash and cash equivalents, other short term assets, trade payables and provisions and accruals are denominated in NOK. Financial instruments denominated in cur-rencies other than USD at 31 December 2023 include trade payables, other short term assets and bank deposits in NOK, which represents a net long exposure to NOK. Based on these financial instruments denominated in NOK at 31 December 2023, a 10 % change in the USD/NOK rate would have an effect on the profit/(loss) for the reporting period of KUSD 45 and no direct effect on equity (KUSD 42 in profit/(loss) effect in 2022). Price risk: The Group will normally have limited exposure to risks associated with price fluctuations on bunker oil, as the bunkers is for the charterers account when the vessels are on contract. The Group has currently not entered into any bunkers derivatives, however this is subject to continuous assessments. The Group is also subject to price risk related to the spot/short term charter market for chartering LNG carriers, which is uncer-tain and volatile and will depend upon, among other things, the natural gas prices, tonnage supply and energy markets which the Group cannot predict. Currently, no financial instruments has been entered into to reduce this risk. Credit risk Credit risk refers to the risk that a counterparty defaults on its contractual obligations resulting in financial loss to the Group. The Group is exposed to credit risk from its operating activities through trade receivables and from its financing activities, including deposits with banks. The Group aims to do business with creditworthy counterparties only. Prior to entering into a charterparty the Group evaluates the credit quality of the customer, assessing its financial position, credit rating, past experience and other factors. If the coun-terparty is not assessed as of adequate credit quality the Group may demand guarantees and/or prepayment of charter hire to reduce credit risk to an acceptable level. Charter hire is generally paid in advance, effectively reducing the potential exposure to credit risk. The credit quality of outstanding trade receivables as at 31 December 2023 is assessed as very good. The Group has measured the expected credit loss for the coming twelve months and estimated it to NIL. Furthermore, as disclosed in note 12, none of the trade receivables outstanding as at 31 December 2023 are past due. Bank deposits are deposited with interna-tionally recognised financial institutions with a high credit rating. Currently, bank deposits are with banks rated Aa3 by Moody\u2019s, hence the assessed credit risk is minimal. Awilco LNG has not provided any material guarantees for third parties\u2019 labilities, and the maximum exposure to credit risk is represented by the carrying amount of financial assets in the statement of financial position. Liquidity risk The Group\u2019s approach to managing liquidity risk is to ensure, as far as possible, that it has sufficient liquidity and/or undrawn commited credit facilities at all times to meet its obligations without incurring unacceptable losses or risking damage to the Group\u2019s reputation. To ensure this, the Group continuously monitors the maturity of the financial assets and liabilities and projected cash flows from operations. Please see the liquidity risk section in the Board of Directors\u2019 report for further informa-tion.The WilForce and WilPride sale/leaseback facilities provided by CCB Financial Leasing Co. Ltd.(CCBFL) contains a minimum value clause in addition to financial covenants that require the Awilco LNG Group to maintain consolidated minimum cash and cash equivalents of USD 10.0 million and positive consolidated working capital. During 2020 the Company and CCBFL agreed to make certain amendments to financial covenants including a restriction from declaring or paying dividends if the consoli-dated cash position of the Awilco LNG Group is lower than USD 20 million on the day of declaration and the day following the payment. The Company is in compliance with all covenants. The table below summarises the maturity profile of the Group\u2019s financial liabilities based on contractual undiscounted payments: Per 31 December 2023 < 3 months 3-12 months 1-5 years > 5 yearsTotalTrade payables 1 649 - - - 1 649 Interest -bearing debt 4 688 14 064 75 008 95 772 189 532 Minimum interest payment 4 535 12 810 51 771 10 429 79 545 Total 10 872 26 874 126 779 106 202 270 726 Per 31 December 2022 < 3 months 3-12 months 1-5 years > 5 yearsTotalTrade payables 771 - - - 771 Interest -bearing debt 4 688 14 064 75 008 113 854 207 614 Minimum interest payment 3 968 11 250 46 879 16 542 78 639 Total 9 427 25 314 121 887 130 397 287 024", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__120": { "value": "Note 19 // Capital and financial risk managementCapital managementA key objective in Awilco LNG\u2019s capital management is to ensure that the Group maintains a capital structure in order to support its business, maintain investor and creditor confidence and maximise shareholder value. The Group evaluates its capital struc-ture in light of current and projected cash flow, the relative strength of the shipping markets, new business opportunities and the Group\u2019s financial commitments. As part of the Group\u2019s long term capital management strategy, the Company is listed on Euron-ext Expand. Capital is managed on Group level, although each vessel owning company has a capital structure adressing company specific financial and operational requirements and risks.The Group monitors its capital using the book equity ratio:Equity ratio31.12.202331.12.2022Book equity 144 712 126 387 Total assets 349 869 348 107 Book equity ratio 41 %36 %Dividend policyThe Group\u2019s intention is to pay regular dividends in support of the Group\u2019s main objective of maximising returns to shareholders. The Board of Directors approved a revised dividend policy in November 2022. The Board is committed to return value to share-holders and intend to continue to distribute a substantial part of annual free cash flow, paid out quarterly, always subject to debt covenants, capital requirements and a robust cash buffer.Financial risk management The Group is in its business exposed to financial risks such as market risk, credit risk and liquidity risk. The Group\u2019s manage-ment identifies, evaluates and implements necessary actions to manage and mitigate these risks. The Board of Directors reviews and agrees to the policies for managing each of these risks, which are summarised below.Market risk Market risk from financial instruments is the risk that future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprise three types of risk: interest rate risk, foreign currency risk and price risk. Financial instruments held by the Group are affected by market risk. The Group does not enter into any financial instruments, including financial derivatives, for trading purposes. Interest rate risk: At the balance sheet date the Group had oustanding lease liabilities on the vessels of MUSD 189.5 that was subject to a floating interest charge (USD SOFR). Each 100 bps change in USD SOFR would have an effect on the profit/(loss) for the reporting period of MUSD 1.9 and no direct effect on equity. The Group also had bank deposits subject to floating NIBOR and SOFR rates. No interest rate derivatives have been entered into to mitigate the floating interest rate risk. The Group contin-ually assess the need for hedging interest rate risk. Foreign currency risk: The functional currency of all the entities in the Group is USD, and the Group has limited currency risk arising from operations, as income and the majority of operating expenses and vessel investments are denominated in USD. However, the Group has exposure to NOK, as administration expenses and parts of cash and cash equivalents, other short term assets, trade payables and provisions and accruals are denominated in NOK. Financial instruments denominated in cur-rencies other than USD at 31 December 2023 include trade payables, other short term assets and bank deposits in NOK, which represents a net long exposure to NOK. Based on these financial instruments denominated in NOK at 31 December 2023, a 10 % change in the USD/NOK rate would have an effect on the profit/(loss) for the reporting period of KUSD 45 and no direct effect on equity (KUSD 42 in profit/(loss) effect in 2022). Price risk: The Group will normally have limited exposure to risks associated with price fluctuations on bunker oil, as the bunkers is for the charterers account when the vessels are on contract. The Group has currently not entered into any bunkers derivatives, however this is subject to continuous assessments. The Group is also subject to price risk related to the spot/short term charter market for chartering LNG carriers, which is uncer-tain and volatile and will depend upon, among other things, the natural gas prices, tonnage supply and energy markets which the Group cannot predict. Currently, no financial instruments has been entered into to reduce this risk. Credit risk Credit risk refers to the risk that a counterparty defaults on its contractual obligations resulting in financial loss to the Group. The Group is exposed to credit risk from its operating activities through trade receivables and from its financing activities, including deposits with banks. The Group aims to do business with creditworthy counterparties only. Prior to entering into a charterparty the Group evaluates the credit quality of the customer, assessing its financial position, credit rating, past experience and other factors. If the coun-terparty is not assessed as of adequate credit quality the Group may demand guarantees and/or prepayment of charter hire to reduce credit risk to an acceptable level. Charter hire is generally paid in advance, effectively reducing the potential exposure to credit risk. The credit quality of outstanding trade receivables as at 31 December 2023 is assessed as very good. The Group has measured the expected credit loss for the coming twelve months and estimated it to NIL. Furthermore, as disclosed in note 12, none of the trade receivables outstanding as at 31 December 2023 are past due. Bank deposits are deposited with interna-tionally recognised financial institutions with a high credit rating. Currently, bank deposits are with banks rated Aa3 by Moody\u2019s, hence the assessed credit risk is minimal. Awilco LNG has not provided any material guarantees for third parties\u2019 labilities, and the maximum exposure to credit risk is represented by the carrying amount of financial assets in the statement of financial position. Liquidity risk The Group\u2019s approach to managing liquidity risk is to ensure, as far as possible, that it has sufficient liquidity and/or undrawn commited credit facilities at all times to meet its obligations without incurring unacceptable losses or risking damage to the Group\u2019s reputation. To ensure this, the Group continuously monitors the maturity of the financial assets and liabilities and projected cash flows from operations. Please see the liquidity risk section in the Board of Directors\u2019 report for further informa-tion.The WilForce and WilPride sale/leaseback facilities provided by CCB Financial Leasing Co. Ltd.(CCBFL) contains a minimum value clause in addition to financial covenants that require the Awilco LNG Group to maintain consolidated minimum cash and cash equivalents of USD 10.0 million and positive consolidated working capital. During 2020 the Company and CCBFL agreed to make certain amendments to financial covenants including a restriction from declaring or paying dividends if the consoli-dated cash position of the Awilco LNG Group is lower than USD 20 million on the day of declaration and the day following the payment. The Company is in compliance with all covenants. The table below summarises the maturity profile of the Group\u2019s financial liabilities based on contractual undiscounted payments: Per 31 December 2023 < 3 months 3-12 months 1-5 years > 5 yearsTotalTrade payables 1 649 - - - 1 649 Interest -bearing debt 4 688 14 064 75 008 95 772 189 532 Minimum interest payment 4 535 12 810 51 771 10 429 79 545 Total 10 872 26 874 126 779 106 202 270 726 Per 31 December 2022 < 3 months 3-12 months 1-5 years > 5 yearsTotalTrade payables 771 - - - 771 Interest -bearing debt 4 688 14 064 75 008 113 854 207 614 Minimum interest payment 3 968 11 250 46 879 16 542 78 639 Total 9 427 25 314 121 887 130 397 287 024", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__119": { "value": "Note 19 // Capital and financial risk managementCapital managementA key objective in Awilco LNG\u2019s capital management is to ensure that the Group maintains a capital structure in order to support its business, maintain investor and creditor confidence and maximise shareholder value. The Group evaluates its capital struc-ture in light of current and projected cash flow, the relative strength of the shipping markets, new business opportunities and the Group\u2019s financial commitments. As part of the Group\u2019s long term capital management strategy, the Company is listed on Euron-ext Expand. Capital is managed on Group level, although each vessel owning company has a capital structure adressing company specific financial and operational requirements and risks.The Group monitors its capital using the book equity ratio:Equity ratio31.12.202331.12.2022Book equity 144 712 126 387 Total assets 349 869 348 107 Book equity ratio 41 %36 %Dividend policyThe Group\u2019s intention is to pay regular dividends in support of the Group\u2019s main objective of maximising returns to shareholders. The Board of Directors approved a revised dividend policy in November 2022. The Board is committed to return value to share-holders and intend to continue to distribute a substantial part of annual free cash flow, paid out quarterly, always subject to debt covenants, capital requirements and a robust cash buffer.Financial risk management The Group is in its business exposed to financial risks such as market risk, credit risk and liquidity risk. The Group\u2019s manage-ment identifies, evaluates and implements necessary actions to manage and mitigate these risks. The Board of Directors reviews and agrees to the policies for managing each of these risks, which are summarised below.Market risk Market risk from financial instruments is the risk that future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprise three types of risk: interest rate risk, foreign currency risk and price risk. Financial instruments held by the Group are affected by market risk. The Group does not enter into any financial instruments, including financial derivatives, for trading purposes. Interest rate risk: At the balance sheet date the Group had oustanding lease liabilities on the vessels of MUSD 189.5 that was subject to a floating interest charge (USD SOFR). Each 100 bps change in USD SOFR would have an effect on the profit/(loss) for the reporting period of MUSD 1.9 and no direct effect on equity. The Group also had bank deposits subject to floating NIBOR and SOFR rates. No interest rate derivatives have been entered into to mitigate the floating interest rate risk. The Group contin-ually assess the need for hedging interest rate risk. Foreign currency risk: The functional currency of all the entities in the Group is USD, and the Group has limited currency risk arising from operations, as income and the majority of operating expenses and vessel investments are denominated in USD. However, the Group has exposure to NOK, as administration expenses and parts of cash and cash equivalents, other short term assets, trade payables and provisions and accruals are denominated in NOK. Financial instruments denominated in cur-rencies other than USD at 31 December 2023 include trade payables, other short term assets and bank deposits in NOK, which represents a net long exposure to NOK. Based on these financial instruments denominated in NOK at 31 December 2023, a 10 % change in the USD/NOK rate would have an effect on the profit/(loss) for the reporting period of KUSD 45 and no direct effect on equity (KUSD 42 in profit/(loss) effect in 2022). Price risk: The Group will normally have limited exposure to risks associated with price fluctuations on bunker oil, as the bunkers is for the charterers account when the vessels are on contract. The Group has currently not entered into any bunkers derivatives, however this is subject to continuous assessments. The Group is also subject to price risk related to the spot/short term charter market for chartering LNG carriers, which is uncer-tain and volatile and will depend upon, among other things, the natural gas prices, tonnage supply and energy markets which the Group cannot predict. Currently, no financial instruments has been entered into to reduce this risk. Credit risk Credit risk refers to the risk that a counterparty defaults on its contractual obligations resulting in financial loss to the Group. The Group is exposed to credit risk from its operating activities through trade receivables and from its financing activities, including deposits with banks. The Group aims to do business with creditworthy counterparties only. Prior to entering into a charterparty the Group evaluates the credit quality of the customer, assessing its financial position, credit rating, past experience and other factors. If the coun-terparty is not assessed as of adequate credit quality the Group may demand guarantees and/or prepayment of charter hire to reduce credit risk to an acceptable level. Charter hire is generally paid in advance, effectively reducing the potential exposure to credit risk. The credit quality of outstanding trade receivables as at 31 December 2023 is assessed as very good. The Group has measured the expected credit loss for the coming twelve months and estimated it to NIL. Furthermore, as disclosed in note 12, none of the trade receivables outstanding as at 31 December 2023 are past due. Bank deposits are deposited with interna-tionally recognised financial institutions with a high credit rating. Currently, bank deposits are with banks rated Aa3 by Moody\u2019s, hence the assessed credit risk is minimal. Awilco LNG has not provided any material guarantees for third parties\u2019 labilities, and the maximum exposure to credit risk is represented by the carrying amount of financial assets in the statement of financial position. Liquidity risk The Group\u2019s approach to managing liquidity risk is to ensure, as far as possible, that it has sufficient liquidity and/or undrawn commited credit facilities at all times to meet its obligations without incurring unacceptable losses or risking damage to the Group\u2019s reputation. To ensure this, the Group continuously monitors the maturity of the financial assets and liabilities and projected cash flows from operations. Please see the liquidity risk section in the Board of Directors\u2019 report for further informa-tion.The WilForce and WilPride sale/leaseback facilities provided by CCB Financial Leasing Co. Ltd.(CCBFL) contains a minimum value clause in addition to financial covenants that require the Awilco LNG Group to maintain consolidated minimum cash and cash equivalents of USD 10.0 million and positive consolidated working capital. During 2020 the Company and CCBFL agreed to make certain amendments to financial covenants including a restriction from declaring or paying dividends if the consoli-dated cash position of the Awilco LNG Group is lower than USD 20 million on the day of declaration and the day following the payment. The Company is in compliance with all covenants. The table below summarises the maturity profile of the Group\u2019s financial liabilities based on contractual undiscounted payments: Per 31 December 2023 < 3 months 3-12 months 1-5 years > 5 yearsTotalTrade payables 1 649 - - - 1 649 Interest -bearing debt 4 688 14 064 75 008 95 772 189 532 Minimum interest payment 4 535 12 810 51 771 10 429 79 545 Total 10 872 26 874 126 779 106 202 270 726 Per 31 December 2022 < 3 months 3-12 months 1-5 years > 5 yearsTotalTrade payables 771 - - - 771 Interest -bearing debt 4 688 14 064 75 008 113 854 207 614 Minimum interest payment 3 968 11 250 46 879 16 542 78 639 Total 9 427 25 314 121 887 130 397 287 024", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__118": { "value": "Note 19 // Capital and financial risk managementCapital managementA key objective in Awilco LNG\u2019s capital management is to ensure that the Group maintains a capital structure in order to support its business, maintain investor and creditor confidence and maximise shareholder value. The Group evaluates its capital struc-ture in light of current and projected cash flow, the relative strength of the shipping markets, new business opportunities and the Group\u2019s financial commitments. As part of the Group\u2019s long term capital management strategy, the Company is listed on Euron-ext Expand. Capital is managed on Group level, although each vessel owning company has a capital structure adressing company specific financial and operational requirements and risks.The Group monitors its capital using the book equity ratio:Equity ratio31.12.202331.12.2022Book equity 144 712 126 387 Total assets 349 869 348 107 Book equity ratio 41 %36 %Dividend policyThe Group\u2019s intention is to pay regular dividends in support of the Group\u2019s main objective of maximising returns to shareholders. The Board of Directors approved a revised dividend policy in November 2022. The Board is committed to return value to share-holders and intend to continue to distribute a substantial part of annual free cash flow, paid out quarterly, always subject to debt covenants, capital requirements and a robust cash buffer.Financial risk management The Group is in its business exposed to financial risks such as market risk, credit risk and liquidity risk. The Group\u2019s manage-ment identifies, evaluates and implements necessary actions to manage and mitigate these risks. The Board of Directors reviews and agrees to the policies for managing each of these risks, which are summarised below.Market risk Market risk from financial instruments is the risk that future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprise three types of risk: interest rate risk, foreign currency risk and price risk. Financial instruments held by the Group are affected by market risk. The Group does not enter into any financial instruments, including financial derivatives, for trading purposes. Interest rate risk: At the balance sheet date the Group had oustanding lease liabilities on the vessels of MUSD 189.5 that was subject to a floating interest charge (USD SOFR). Each 100 bps change in USD SOFR would have an effect on the profit/(loss) for the reporting period of MUSD 1.9 and no direct effect on equity. The Group also had bank deposits subject to floating NIBOR and SOFR rates. No interest rate derivatives have been entered into to mitigate the floating interest rate risk. The Group contin-ually assess the need for hedging interest rate risk. Foreign currency risk: The functional currency of all the entities in the Group is USD, and the Group has limited currency risk arising from operations, as income and the majority of operating expenses and vessel investments are denominated in USD. However, the Group has exposure to NOK, as administration expenses and parts of cash and cash equivalents, other short term assets, trade payables and provisions and accruals are denominated in NOK. Financial instruments denominated in cur-rencies other than USD at 31 December 2023 include trade payables, other short term assets and bank deposits in NOK, which represents a net long exposure to NOK. Based on these financial instruments denominated in NOK at 31 December 2023, a 10 % change in the USD/NOK rate would have an effect on the profit/(loss) for the reporting period of KUSD 45 and no direct effect on equity (KUSD 42 in profit/(loss) effect in 2022). Price risk: The Group will normally have limited exposure to risks associated with price fluctuations on bunker oil, as the bunkers is for the charterers account when the vessels are on contract. The Group has currently not entered into any bunkers derivatives, however this is subject to continuous assessments. The Group is also subject to price risk related to the spot/short term charter market for chartering LNG carriers, which is uncer-tain and volatile and will depend upon, among other things, the natural gas prices, tonnage supply and energy markets which the Group cannot predict. Currently, no financial instruments has been entered into to reduce this risk. Credit risk Credit risk refers to the risk that a counterparty defaults on its contractual obligations resulting in financial loss to the Group. The Group is exposed to credit risk from its operating activities through trade receivables and from its financing activities, including deposits with banks. The Group aims to do business with creditworthy counterparties only. Prior to entering into a charterparty the Group evaluates the credit quality of the customer, assessing its financial position, credit rating, past experience and other factors. If the coun-terparty is not assessed as of adequate credit quality the Group may demand guarantees and/or prepayment of charter hire to reduce credit risk to an acceptable level. Charter hire is generally paid in advance, effectively reducing the potential exposure to credit risk. The credit quality of outstanding trade receivables as at 31 December 2023 is assessed as very good. The Group has measured the expected credit loss for the coming twelve months and estimated it to NIL. Furthermore, as disclosed in note 12, none of the trade receivables outstanding as at 31 December 2023 are past due. Bank deposits are deposited with interna-tionally recognised financial institutions with a high credit rating. Currently, bank deposits are with banks rated Aa3 by Moody\u2019s, hence the assessed credit risk is minimal. Awilco LNG has not provided any material guarantees for third parties\u2019 labilities, and the maximum exposure to credit risk is represented by the carrying amount of financial assets in the statement of financial position. Liquidity risk The Group\u2019s approach to managing liquidity risk is to ensure, as far as possible, that it has sufficient liquidity and/or undrawn commited credit facilities at all times to meet its obligations without incurring unacceptable losses or risking damage to the Group\u2019s reputation. To ensure this, the Group continuously monitors the maturity of the financial assets and liabilities and projected cash flows from operations. Please see the liquidity risk section in the Board of Directors\u2019 report for further informa-tion.The WilForce and WilPride sale/leaseback facilities provided by CCB Financial Leasing Co. Ltd.(CCBFL) contains a minimum value clause in addition to financial covenants that require the Awilco LNG Group to maintain consolidated minimum cash and cash equivalents of USD 10.0 million and positive consolidated working capital. During 2020 the Company and CCBFL agreed to make certain amendments to financial covenants including a restriction from declaring or paying dividends if the consoli-dated cash position of the Awilco LNG Group is lower than USD 20 million on the day of declaration and the day following the payment. The Company is in compliance with all covenants. The table below summarises the maturity profile of the Group\u2019s financial liabilities based on contractual undiscounted payments: Per 31 December 2023 < 3 months 3-12 months 1-5 years > 5 yearsTotalTrade payables 1 649 - - - 1 649 Interest -bearing debt 4 688 14 064 75 008 95 772 189 532 Minimum interest payment 4 535 12 810 51 771 10 429 79 545 Total 10 872 26 874 126 779 106 202 270 726 Per 31 December 2022 < 3 months 3-12 months 1-5 years > 5 yearsTotalTrade payables 771 - - - 771 Interest -bearing debt 4 688 14 064 75 008 113 854 207 614 Minimum interest payment 3 968 11 250 46 879 16 542 78 639 Total 9 427 25 314 121 887 130 397 287 024", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__125": { "value": "Note 20 // Related parties To provide the Group with access to important and required knowledge and services, the Group has entered into the following agreements and transactions with related parties:Related partyDescription of serviceNo.Awilco Technical Services AS (ATS) Technical Sub-management Services 1Awilhelmsen Management AS (AWM) Administrative Services 2(1) Until August 7, 2023 the Group\u2019s in-house technical manager, Awilco LNG Technical Management AS (ALNG TM), had a sub-man-agement agreement with ATS, whereby ATS assisted ALNG TM in management of the Group\u2019s fleet. ALNG TM paid ATS a manage-ment fee based on ATS\u2019 costs plus a margin of 7%, cost being time accrued for the sub-manager\u2019s employees involved. The fee was subject to quarterly evaluation and is regulated according to the consumer price index in Norway. The agreement was termi-nated and ended on August 7, 2023. ATS is 100% owned by Awilco AS. From August 8, 2023 the employees of ATS was employed by Integrated Wind Solution AS (IWS) and from that day ALNG TM buy the same services from IWS instead of ATS. ALNG TM will pay IWS a management fee based on an agreed hourly rate for the employees involved. The agreement can be terminated by both parties with six months\u2019 notice. IWS and the Company have the same main shareholder, Awilco AS. As Awilco AS don\u2019t have control in either the Group or in IWS, IWS is not considered a related party under IFRS. (2) AWM provides the Group with administrative and general services including accounting, payroll, legal, secretary function and IT. The Group pays AWM a management fee based on AWM\u2019s costs plus a margin of 5 %. The fee is subject to semi-annual evalua-tion, and is regulated according to the consumer price index in Norway. The agreement can be terminated by both parties with three months notice. AWM is 100 % owned by Awilhelmsen AS, which owns 100 % of Awilco AS. As from June 1, 2023 Awilco LNG moved from offices owned by a non-related party into offices owned by AWM. Subsequently the Company have entered into an agreement to rent offices from AWM at an annual cost of NOK 1.2 million (USD 0.11 million), including common cost and to be adjusted annually according to the consumer price index in Norway. The agreement can be terminated by both parties with six months\u2019 notice and is booked as Administration expenses and no right-of-use assets or lease liability is booked in relation to this agreement. AWM is 100% owned by Awilhelmsen AS, which owns 100% of Awilco AS.Purchases from related parties20232022Awilco Technical Services AS 244428Awilhelmsen Management AS288235Purchases from related parties are included as part of Administration expenses in the income statement. Balances with related parties (liabilities)31.12.202331.12.2022Awilco Technical Services AS - - Awilhelmsen Management AS --Balances with related parties (liabilities) are presented as Trade payables or Provisions and accruals in the statement of financial position. Balances with related parties (assets)31.12.202331.12.2022Awilco Technical Services AS - 142 Awilhelmsen Management AS -5Balances with related parties (assets) are presented as Trade receivables in the statement of financial position.Remuneration to key management2023 RemunerationSalaryBonusPensionsOtherTotalCEO Jon Skule Storheill 3743496030814CFO Per Heiberg 2481183922426Total 62246799521 2402022 RemunerationSalaryBonusPensionsOtherTotalCEO Jon Skule Storheill 3681725230622CFO Per Heiberg 239773122369Total 607 249 83 52 991 Loans, advances and guaranteesAwilco LNG has not provided any loans, advances or guarantees to key management. The Board of Directors\u2019 guidelines regarding remuneration to leading personsThe guidelines regarding remuneration to leading persons have been prepared by the board of directors in accordance with section 6-16 a of the Norwegian Public Limited Liability Companies Act and was adopted by the Annual General Meeting in 2021. Awilco LNG will present a report on remuneration to leading persons to be approved by the Annual general meeting in 2024.The guidelines set out for determination of salaries and other remuneration applies to leadng persons in the Company. The following guidelines were applied in 2021:General policy: The Company shall offer competitive terms of compensation for senior executives to enable the Company to recruit, motivate and retain senior executives. Competitive terms are defined as terms at the same level as those offered by comparable businesses. The total remuneration shall reflect the responsibility and obligations of senior executives, and promote added value to the Company and its shareholders. The remuneration should not be of such a nature or extent that it may nega-tively impact the Company\u2019s reputation. It is the view of the Board that these objectives are important to the Company\u2019s business strategy and long-term interests.The Board determines the remuneration of the chief executive officer. The chief executive officer determines the remuneration of other senior executives. The remuneration of the members of the Board is determined by the Company\u2019s general meeting.Salary and remuneration: Remuneration to senior executives consists of fixed and variable compensation. The fixed compensa-tion consists of a base salary and also includes insurance and pension schemes, car allowance, parking, newspaper and commu-nications to the extent deemed appropriate. The fixed compensation will normally constitute the main part of the remuneration to senior executives. The Company offers a defined contribution plan whereby pension contributions towards salary up to 12G are funded in a life insurance company. Contributions towards salary above 12G are funded by the Company and transferred to a separately admin-istered scheme and pledged towards the participating employees. The plan complies with the requirements in the Mandatory Oc-cupational Pension Act in Norway. The Company\u2019s senior executives are covered by this defined contribution plan. The Company does not have any other pension arrangements for senior executives.The variable compensation consists of variable bonus. Bonus to senior executives shall be related to collective and individual goals, partly based on defined parameters (KPIs) and partly a discretionary evaluation of the Company\u2019s and employee\u2019s per-formance. Bonus payments shall reflect the values brought to the Company and its shareholders, as well as individual achieve-ments. The potential bonus to the CEO is not limited, while the potential bonus to the CFO is limited to 12 months salary.The Company\u2019s CEO and CFO has an agreement of 18 and 12 months severance payment respectively including a six month peri-od of notice in case of involuntary resignation or by redundancy.The Company has no current plans to offer senior executives warrants, options or other forms of remuneration related to shares or the development of the share price in the Company or other companies within the Awilco LNG Group. Issue of shares or granting of share-based payments to senior executives shall only take place upon the General Meeting\u2019s approval. This shall not prevent senior executives from taking part in equity issues on the same terms as other investors.The remuneration of the members of the Board will consist of an annual fixed fee unless the general meeting of the Company decides otherwise. No member of the Board is entitled to any variable remuneration or any compensation upon termination of the membership of the Board.The Company has no current plans to offer senior executives warrants, options or other forms of remuneration related to shares or the development of the share price in the Company or other companies within the Awilco LNG Group. Issue of shares or granting of share-based payments to senior executives shall only take place upon the General Meeting\u2019s approval. This shall not prevent senior executives from taking part in equity issues on the same terms as other investors.Evaluation of compensation to key management in the previous year: The compensation to key management in the previous year was in accordance with the same principles described above. Further details regarding remuneration to key management is specified above.Remuneration to Board of DirectorsRemuneration to the Board of Directors consists of a Director\u2019s fee which is fixed for the year depending on the role on the Board as well as compensation for other Board elected committees. The Board\u2019s fees are approved by the Annual General Meeting. 2023 RemunerationAudit Remuneration Director\u2019s feecommittee feecommittee feeTotalSynne Syrrist 43 5 5 52 Annette Malm Justad 28 28 Jens-Julius Nygaard 28 5 33 Jon-Aksel Torgersen 28 28 Ole Christian Hvidsten 28 5 33 Total compensation for the period 156 9 9 175 2022 RemunerationAudit Remuneration Director\u2019s feecommittee feecommittee feeTotalSynne Syrrist 36 5 5 47 Annette Malm Justad 21 21 Jens-Julius Nygaard 21 5 26 Jon-Aksel Torgersen 21 5 26 Ole Christian Hvidsten* 10 10 Total compensation for the period 109 10 10 130 * Elected at Annual General Meeting on May 24, 2022Directors\u2019 and key management\u2019s shares in the Company as of April 17, 2024Board of DirectorsOrdinary sharesSynne Syrrist - Annette Malm Justad - Jens-Julius Nygaard - Jon-Aksel Torgersen 243 158 Ole Christian Hvidsten - Total 243 158 Key managementOrdinary sharesCEO Jon Skule Storheill 140 000 CFO Per Heiberg - Total 140 000 Auditor\u2019s fee20222023Statutory audit (expensed) 70 68 Other assurance services - - Tax advisory - - Total fees to auditor, excl. VAT 70 68", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__124": { "value": "Note 20 // Related parties To provide the Group with access to important and required knowledge and services, the Group has entered into the following agreements and transactions with related parties:Related partyDescription of serviceNo.Awilco Technical Services AS (ATS) Technical Sub-management Services 1Awilhelmsen Management AS (AWM) Administrative Services 2(1) Until August 7, 2023 the Group\u2019s in-house technical manager, Awilco LNG Technical Management AS (ALNG TM), had a sub-man-agement agreement with ATS, whereby ATS assisted ALNG TM in management of the Group\u2019s fleet. ALNG TM paid ATS a manage-ment fee based on ATS\u2019 costs plus a margin of 7%, cost being time accrued for the sub-manager\u2019s employees involved. The fee was subject to quarterly evaluation and is regulated according to the consumer price index in Norway. The agreement was termi-nated and ended on August 7, 2023. ATS is 100% owned by Awilco AS. From August 8, 2023 the employees of ATS was employed by Integrated Wind Solution AS (IWS) and from that day ALNG TM buy the same services from IWS instead of ATS. ALNG TM will pay IWS a management fee based on an agreed hourly rate for the employees involved. The agreement can be terminated by both parties with six months\u2019 notice. IWS and the Company have the same main shareholder, Awilco AS. As Awilco AS don\u2019t have control in either the Group or in IWS, IWS is not considered a related party under IFRS. (2) AWM provides the Group with administrative and general services including accounting, payroll, legal, secretary function and IT. The Group pays AWM a management fee based on AWM\u2019s costs plus a margin of 5 %. The fee is subject to semi-annual evalua-tion, and is regulated according to the consumer price index in Norway. The agreement can be terminated by both parties with three months notice. AWM is 100 % owned by Awilhelmsen AS, which owns 100 % of Awilco AS. As from June 1, 2023 Awilco LNG moved from offices owned by a non-related party into offices owned by AWM. Subsequently the Company have entered into an agreement to rent offices from AWM at an annual cost of NOK 1.2 million (USD 0.11 million), including common cost and to be adjusted annually according to the consumer price index in Norway. The agreement can be terminated by both parties with six months\u2019 notice and is booked as Administration expenses and no right-of-use assets or lease liability is booked in relation to this agreement. AWM is 100% owned by Awilhelmsen AS, which owns 100% of Awilco AS.Purchases from related parties20232022Awilco Technical Services AS 244428Awilhelmsen Management AS288235Purchases from related parties are included as part of Administration expenses in the income statement. Balances with related parties (liabilities)31.12.202331.12.2022Awilco Technical Services AS - - Awilhelmsen Management AS --Balances with related parties (liabilities) are presented as Trade payables or Provisions and accruals in the statement of financial position. Balances with related parties (assets)31.12.202331.12.2022Awilco Technical Services AS - 142 Awilhelmsen Management AS -5Balances with related parties (assets) are presented as Trade receivables in the statement of financial position.Remuneration to key management2023 RemunerationSalaryBonusPensionsOtherTotalCEO Jon Skule Storheill 3743496030814CFO Per Heiberg 2481183922426Total 62246799521 2402022 RemunerationSalaryBonusPensionsOtherTotalCEO Jon Skule Storheill 3681725230622CFO Per Heiberg 239773122369Total 607 249 83 52 991 Loans, advances and guaranteesAwilco LNG has not provided any loans, advances or guarantees to key management. The Board of Directors\u2019 guidelines regarding remuneration to leading personsThe guidelines regarding remuneration to leading persons have been prepared by the board of directors in accordance with section 6-16 a of the Norwegian Public Limited Liability Companies Act and was adopted by the Annual General Meeting in 2021. Awilco LNG will present a report on remuneration to leading persons to be approved by the Annual general meeting in 2024.The guidelines set out for determination of salaries and other remuneration applies to leadng persons in the Company. The following guidelines were applied in 2021:General policy: The Company shall offer competitive terms of compensation for senior executives to enable the Company to recruit, motivate and retain senior executives. Competitive terms are defined as terms at the same level as those offered by comparable businesses. The total remuneration shall reflect the responsibility and obligations of senior executives, and promote added value to the Company and its shareholders. The remuneration should not be of such a nature or extent that it may nega-tively impact the Company\u2019s reputation. It is the view of the Board that these objectives are important to the Company\u2019s business strategy and long-term interests.The Board determines the remuneration of the chief executive officer. The chief executive officer determines the remuneration of other senior executives. The remuneration of the members of the Board is determined by the Company\u2019s general meeting.Salary and remuneration: Remuneration to senior executives consists of fixed and variable compensation. The fixed compensa-tion consists of a base salary and also includes insurance and pension schemes, car allowance, parking, newspaper and commu-nications to the extent deemed appropriate. The fixed compensation will normally constitute the main part of the remuneration to senior executives. The Company offers a defined contribution plan whereby pension contributions towards salary up to 12G are funded in a life insurance company. Contributions towards salary above 12G are funded by the Company and transferred to a separately admin-istered scheme and pledged towards the participating employees. The plan complies with the requirements in the Mandatory Oc-cupational Pension Act in Norway. The Company\u2019s senior executives are covered by this defined contribution plan. The Company does not have any other pension arrangements for senior executives.The variable compensation consists of variable bonus. Bonus to senior executives shall be related to collective and individual goals, partly based on defined parameters (KPIs) and partly a discretionary evaluation of the Company\u2019s and employee\u2019s per-formance. Bonus payments shall reflect the values brought to the Company and its shareholders, as well as individual achieve-ments. The potential bonus to the CEO is not limited, while the potential bonus to the CFO is limited to 12 months salary.The Company\u2019s CEO and CFO has an agreement of 18 and 12 months severance payment respectively including a six month peri-od of notice in case of involuntary resignation or by redundancy.The Company has no current plans to offer senior executives warrants, options or other forms of remuneration related to shares or the development of the share price in the Company or other companies within the Awilco LNG Group. Issue of shares or granting of share-based payments to senior executives shall only take place upon the General Meeting\u2019s approval. This shall not prevent senior executives from taking part in equity issues on the same terms as other investors.The remuneration of the members of the Board will consist of an annual fixed fee unless the general meeting of the Company decides otherwise. No member of the Board is entitled to any variable remuneration or any compensation upon termination of the membership of the Board.The Company has no current plans to offer senior executives warrants, options or other forms of remuneration related to shares or the development of the share price in the Company or other companies within the Awilco LNG Group. Issue of shares or granting of share-based payments to senior executives shall only take place upon the General Meeting\u2019s approval. This shall not prevent senior executives from taking part in equity issues on the same terms as other investors.Evaluation of compensation to key management in the previous year: The compensation to key management in the previous year was in accordance with the same principles described above. Further details regarding remuneration to key management is specified above.Remuneration to Board of DirectorsRemuneration to the Board of Directors consists of a Director\u2019s fee which is fixed for the year depending on the role on the Board as well as compensation for other Board elected committees. The Board\u2019s fees are approved by the Annual General Meeting. 2023 RemunerationAudit Remuneration Director\u2019s feecommittee feecommittee feeTotalSynne Syrrist 43 5 5 52 Annette Malm Justad 28 28 Jens-Julius Nygaard 28 5 33 Jon-Aksel Torgersen 28 28 Ole Christian Hvidsten 28 5 33 Total compensation for the period 156 9 9 175 2022 RemunerationAudit Remuneration Director\u2019s feecommittee feecommittee feeTotalSynne Syrrist 36 5 5 47 Annette Malm Justad 21 21 Jens-Julius Nygaard 21 5 26 Jon-Aksel Torgersen 21 5 26 Ole Christian Hvidsten* 10 10 Total compensation for the period 109 10 10 130 * Elected at Annual General Meeting on May 24, 2022Directors\u2019 and key management\u2019s shares in the Company as of April 17, 2024Board of DirectorsOrdinary sharesSynne Syrrist - Annette Malm Justad - Jens-Julius Nygaard - Jon-Aksel Torgersen 243 158 Ole Christian Hvidsten - Total 243 158 Key managementOrdinary sharesCEO Jon Skule Storheill 140 000 CFO Per Heiberg - Total 140 000 Auditor\u2019s fee20222023Statutory audit (expensed) 70 68 Other assurance services - - Tax advisory - - Total fees to auditor, excl. VAT 70 68", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__127": { "value": "Auditor\u2019s fee20222023Statutory audit (expensed) 70 68 Other assurance services - - Tax advisory - - Total fees to auditor, excl. VAT 70 68", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__134": { "value": "Note 21 // Interest-Bearing debtUnder the sale/leaseback arrangements with CCB Financial Leasing Co. Ltd. (CCBFL), commencing in January 2020, WilForce and WilPride are chartered back on bareboat basis to wholly owned subsidiaries of the Company for a period of up to 10 years from the commencement. The bareboat hire is payable quarterly in arrears and has a 14-year straight line amortisation profile. The Group has rolling repurchase options that started in January 2023, repurchase obligations upon termination of the arrange-ments, and same at maturity of the facilities at USD 37.5 million per vessel. In December the Company signed a Term Sheet for refinancing both vessels at significantly improved terms. Documentation of the refinancing is progressing well and the Company expects to utilize the repurchase options and close the new financing during second quarter 2024. As US LIBOR rates ceased to exist as a reference rate from July 1, 2023 the floating element of the Bareboat hire changed refer-ence from LIBOR to SOFR from the start of third quarter 2023. The facility contains a minimum value clause in addition to financial covenants that require the Group to maintain consolidated minimum cash and cash equivalents of USD 10.0 million and positive consolidated working capital. During 2020 the Company and CCBFL agreed to make certain amendments to financial covenants, and as a result of these amendments the Company agreed a permanent restriction from declaring or paying dividends if the consolidated cash position of the Awilco LNG Group is lower than USD 20 million on the day of declaration and the day following the payment. The tem-porarily amended cash covenant of USD 2.0 million ended on June 30, 2021 and the Company is in compliance with all ordinary reinstated covenants.Carrying amountThe net carrying amount of the lease liabilities and other interest bearing debt is presented as follows:31.12.202231.12.2023Short-term interest bearing debt 18 750 18 804 Long-term interest bearing debt 170 782 188 831 Total 189 532 207 635 Interest bearing debt is presented net of capitalized transaction costs which are amortised over the repayment period for the debt.Payments towards lease liabilities2023PrincipalInterestTotalLease payments WilForce 9 375 8 805 18 180 Lease payments WilPride 9 375 8 762 18 137 Total 18 750 17 567 36 317 2022PrincipalInterestTotalLease payments WilForce 9 375 5 192 14 567 Lease payments WilPride 9 375 5 172 14 547 Total 18 750 10 364 29 114 Future minimum lease payments and their present valuePer 31 December 2023< 1 year 1-5 yrs > 5 yrsTotalMinimum lease payments 18 750 75 002 98 434 192 186 Present value of min. lease payments 18 117 57 810 57 143 133 070 Per 31 December 2022< 1 year 1-5 yrs > 5 yrsTotalMinimum lease payments 18 750 75 002 117 185 210 936 Present value of min. lease payments 18 241 60 858 71 795 150 894 Reconciliation of movements of liabilities to cash flows arising from financing activitiesLiabilitiesOther non- Long-term Short-term Interest current interest interest payableliabilitiesbearing debtbearing debtTotal - 188 831 18 804 207 635 Balance as at 1 January 2023Repayment of borrowings - - - (18 750) (18 750)Interest costs paid (17 567) - - - (17 568)Total changes from financing cash flows (17 567) - - (18 750) (36 318)Liability related changesReclass from short-term to long-term (18 750) 18 750 - Non-cash movements 701 (54)Balance as at 31 December 2023 170 782 18 750 189 532 LiabilitiesOther non- Long-term Short-term Interest current interest interest payableliabilitiesbearing debtbearing debtTotal - 206 906 18 890 225 796 Balance as at 1 January 2022Repayment of borrowings - - - (18 750) (18 750)Interest costs paid (10 364) - - - (10 364)Total changes from financing cash flows (10 364) - - (18 750) (29 114)Liability related changesReclass from short-term to long-term - (18 750) 18 750 - Non-cash movements - 675 (86)Balance as at 31 December 2022 - 188 831 18 804 207 635 \u201cNon cash movements\u201d includes the effect of reclassification of non-current portion of amortazing borrowing costs, and lease liabilities to current due the passage of time. The Group calssifies interest cost paid as cash flow from operation activities.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__133": { "value": "Note 21 // Interest-Bearing debtUnder the sale/leaseback arrangements with CCB Financial Leasing Co. Ltd. (CCBFL), commencing in January 2020, WilForce and WilPride are chartered back on bareboat basis to wholly owned subsidiaries of the Company for a period of up to 10 years from the commencement. The bareboat hire is payable quarterly in arrears and has a 14-year straight line amortisation profile. The Group has rolling repurchase options that started in January 2023, repurchase obligations upon termination of the arrange-ments, and same at maturity of the facilities at USD 37.5 million per vessel. In December the Company signed a Term Sheet for refinancing both vessels at significantly improved terms. Documentation of the refinancing is progressing well and the Company expects to utilize the repurchase options and close the new financing during second quarter 2024. As US LIBOR rates ceased to exist as a reference rate from July 1, 2023 the floating element of the Bareboat hire changed refer-ence from LIBOR to SOFR from the start of third quarter 2023. The facility contains a minimum value clause in addition to financial covenants that require the Group to maintain consolidated minimum cash and cash equivalents of USD 10.0 million and positive consolidated working capital. During 2020 the Company and CCBFL agreed to make certain amendments to financial covenants, and as a result of these amendments the Company agreed a permanent restriction from declaring or paying dividends if the consolidated cash position of the Awilco LNG Group is lower than USD 20 million on the day of declaration and the day following the payment. The tem-porarily amended cash covenant of USD 2.0 million ended on June 30, 2021 and the Company is in compliance with all ordinary reinstated covenants.Carrying amountThe net carrying amount of the lease liabilities and other interest bearing debt is presented as follows:31.12.202231.12.2023Short-term interest bearing debt 18 750 18 804 Long-term interest bearing debt 170 782 188 831 Total 189 532 207 635 Interest bearing debt is presented net of capitalized transaction costs which are amortised over the repayment period for the debt.Payments towards lease liabilities2023PrincipalInterestTotalLease payments WilForce 9 375 8 805 18 180 Lease payments WilPride 9 375 8 762 18 137 Total 18 750 17 567 36 317 2022PrincipalInterestTotalLease payments WilForce 9 375 5 192 14 567 Lease payments WilPride 9 375 5 172 14 547 Total 18 750 10 364 29 114 Future minimum lease payments and their present valuePer 31 December 2023< 1 year 1-5 yrs > 5 yrsTotalMinimum lease payments 18 750 75 002 98 434 192 186 Present value of min. lease payments 18 117 57 810 57 143 133 070 Per 31 December 2022< 1 year 1-5 yrs > 5 yrsTotalMinimum lease payments 18 750 75 002 117 185 210 936 Present value of min. lease payments 18 241 60 858 71 795 150 894 Reconciliation of movements of liabilities to cash flows arising from financing activitiesLiabilitiesOther non- Long-term Short-term Interest current interest interest payableliabilitiesbearing debtbearing debtTotal - 188 831 18 804 207 635 Balance as at 1 January 2023Repayment of borrowings - - - (18 750) (18 750)Interest costs paid (17 567) - - - (17 568)Total changes from financing cash flows (17 567) - - (18 750) (36 318)Liability related changesReclass from short-term to long-term (18 750) 18 750 - Non-cash movements 701 (54)Balance as at 31 December 2023 170 782 18 750 189 532 LiabilitiesOther non- Long-term Short-term Interest current interest interest payableliabilitiesbearing debtbearing debtTotal - 206 906 18 890 225 796 Balance as at 1 January 2022Repayment of borrowings - - - (18 750) (18 750)Interest costs paid (10 364) - - - (10 364)Total changes from financing cash flows (10 364) - - (18 750) (29 114)Liability related changesReclass from short-term to long-term - (18 750) 18 750 - Non-cash movements - 675 (86)Balance as at 31 December 2022 - 188 831 18 804 207 635 \u201cNon cash movements\u201d includes the effect of reclassification of non-current portion of amortazing borrowing costs, and lease liabilities to current due the passage of time. The Group calssifies interest cost paid as cash flow from operation activities.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__132": { "value": "Note 21 // Interest-Bearing debtUnder the sale/leaseback arrangements with CCB Financial Leasing Co. Ltd. (CCBFL), commencing in January 2020, WilForce and WilPride are chartered back on bareboat basis to wholly owned subsidiaries of the Company for a period of up to 10 years from the commencement. The bareboat hire is payable quarterly in arrears and has a 14-year straight line amortisation profile. The Group has rolling repurchase options that started in January 2023, repurchase obligations upon termination of the arrange-ments, and same at maturity of the facilities at USD 37.5 million per vessel. In December the Company signed a Term Sheet for refinancing both vessels at significantly improved terms. Documentation of the refinancing is progressing well and the Company expects to utilize the repurchase options and close the new financing during second quarter 2024. As US LIBOR rates ceased to exist as a reference rate from July 1, 2023 the floating element of the Bareboat hire changed refer-ence from LIBOR to SOFR from the start of third quarter 2023. The facility contains a minimum value clause in addition to financial covenants that require the Group to maintain consolidated minimum cash and cash equivalents of USD 10.0 million and positive consolidated working capital. During 2020 the Company and CCBFL agreed to make certain amendments to financial covenants, and as a result of these amendments the Company agreed a permanent restriction from declaring or paying dividends if the consolidated cash position of the Awilco LNG Group is lower than USD 20 million on the day of declaration and the day following the payment. The tem-porarily amended cash covenant of USD 2.0 million ended on June 30, 2021 and the Company is in compliance with all ordinary reinstated covenants.Carrying amountThe net carrying amount of the lease liabilities and other interest bearing debt is presented as follows:31.12.202231.12.2023Short-term interest bearing debt 18 750 18 804 Long-term interest bearing debt 170 782 188 831 Total 189 532 207 635 Interest bearing debt is presented net of capitalized transaction costs which are amortised over the repayment period for the debt.Payments towards lease liabilities2023PrincipalInterestTotalLease payments WilForce 9 375 8 805 18 180 Lease payments WilPride 9 375 8 762 18 137 Total 18 750 17 567 36 317 2022PrincipalInterestTotalLease payments WilForce 9 375 5 192 14 567 Lease payments WilPride 9 375 5 172 14 547 Total 18 750 10 364 29 114 Future minimum lease payments and their present valuePer 31 December 2023< 1 year 1-5 yrs > 5 yrsTotalMinimum lease payments 18 750 75 002 98 434 192 186 Present value of min. lease payments 18 117 57 810 57 143 133 070 Per 31 December 2022< 1 year 1-5 yrs > 5 yrsTotalMinimum lease payments 18 750 75 002 117 185 210 936 Present value of min. lease payments 18 241 60 858 71 795 150 894 Reconciliation of movements of liabilities to cash flows arising from financing activitiesLiabilitiesOther non- Long-term Short-term Interest current interest interest payableliabilitiesbearing debtbearing debtTotal - 188 831 18 804 207 635 Balance as at 1 January 2023Repayment of borrowings - - - (18 750) (18 750)Interest costs paid (17 567) - - - (17 568)Total changes from financing cash flows (17 567) - - (18 750) (36 318)Liability related changesReclass from short-term to long-term (18 750) 18 750 - Non-cash movements 701 (54)Balance as at 31 December 2023 170 782 18 750 189 532 LiabilitiesOther non- Long-term Short-term Interest current interest interest payableliabilitiesbearing debtbearing debtTotal - 206 906 18 890 225 796 Balance as at 1 January 2022Repayment of borrowings - - - (18 750) (18 750)Interest costs paid (10 364) - - - (10 364)Total changes from financing cash flows (10 364) - - (18 750) (29 114)Liability related changesReclass from short-term to long-term - (18 750) 18 750 - Non-cash movements - 675 (86)Balance as at 31 December 2022 - 188 831 18 804 207 635 \u201cNon cash movements\u201d includes the effect of reclassification of non-current portion of amortazing borrowing costs, and lease liabilities to current due the passage of time. The Group calssifies interest cost paid as cash flow from operation activities.", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__131": { "value": "Note 21 // Interest-Bearing debtUnder the sale/leaseback arrangements with CCB Financial Leasing Co. Ltd. (CCBFL), commencing in January 2020, WilForce and WilPride are chartered back on bareboat basis to wholly owned subsidiaries of the Company for a period of up to 10 years from the commencement. The bareboat hire is payable quarterly in arrears and has a 14-year straight line amortisation profile. The Group has rolling repurchase options that started in January 2023, repurchase obligations upon termination of the arrange-ments, and same at maturity of the facilities at USD 37.5 million per vessel. In December the Company signed a Term Sheet for refinancing both vessels at significantly improved terms. Documentation of the refinancing is progressing well and the Company expects to utilize the repurchase options and close the new financing during second quarter 2024. As US LIBOR rates ceased to exist as a reference rate from July 1, 2023 the floating element of the Bareboat hire changed refer-ence from LIBOR to SOFR from the start of third quarter 2023. The facility contains a minimum value clause in addition to financial covenants that require the Group to maintain consolidated minimum cash and cash equivalents of USD 10.0 million and positive consolidated working capital. During 2020 the Company and CCBFL agreed to make certain amendments to financial covenants, and as a result of these amendments the Company agreed a permanent restriction from declaring or paying dividends if the consolidated cash position of the Awilco LNG Group is lower than USD 20 million on the day of declaration and the day following the payment. The tem-porarily amended cash covenant of USD 2.0 million ended on June 30, 2021 and the Company is in compliance with all ordinary reinstated covenants.Carrying amountThe net carrying amount of the lease liabilities and other interest bearing debt is presented as follows:31.12.202231.12.2023Short-term interest bearing debt 18 750 18 804 Long-term interest bearing debt 170 782 188 831 Total 189 532 207 635 Interest bearing debt is presented net of capitalized transaction costs which are amortised over the repayment period for the debt.Payments towards lease liabilities2023PrincipalInterestTotalLease payments WilForce 9 375 8 805 18 180 Lease payments WilPride 9 375 8 762 18 137 Total 18 750 17 567 36 317 2022PrincipalInterestTotalLease payments WilForce 9 375 5 192 14 567 Lease payments WilPride 9 375 5 172 14 547 Total 18 750 10 364 29 114 Future minimum lease payments and their present valuePer 31 December 2023< 1 year 1-5 yrs > 5 yrsTotalMinimum lease payments 18 750 75 002 98 434 192 186 Present value of min. lease payments 18 117 57 810 57 143 133 070 Per 31 December 2022< 1 year 1-5 yrs > 5 yrsTotalMinimum lease payments 18 750 75 002 117 185 210 936 Present value of min. lease payments 18 241 60 858 71 795 150 894 Reconciliation of movements of liabilities to cash flows arising from financing activitiesLiabilitiesOther non- Long-term Short-term Interest current interest interest payableliabilitiesbearing debtbearing debtTotal - 188 831 18 804 207 635 Balance as at 1 January 2023Repayment of borrowings - - - (18 750) (18 750)Interest costs paid (17 567) - - - (17 568)Total changes from financing cash flows (17 567) - - (18 750) (36 318)Liability related changesReclass from short-term to long-term (18 750) 18 750 - Non-cash movements 701 (54)Balance as at 31 December 2023 170 782 18 750 189 532 LiabilitiesOther non- Long-term Short-term Interest current interest interest payableliabilitiesbearing debtbearing debtTotal - 206 906 18 890 225 796 Balance as at 1 January 2022Repayment of borrowings - - - (18 750) (18 750)Interest costs paid (10 364) - - - (10 364)Total changes from financing cash flows (10 364) - - (18 750) (29 114)Liability related changesReclass from short-term to long-term - (18 750) 18 750 - Non-cash movements - 675 (86)Balance as at 31 December 2022 - 188 831 18 804 207 635 \u201cNon cash movements\u201d includes the effect of reclassification of non-current portion of amortazing borrowing costs, and lease liabilities to current due the passage of time. The Group calssifies interest cost paid as cash flow from operation activities.", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__135": { "value": "Note 22 // SubsidiariesOwnership/ Company name Country Principial activity Date incorporatedvoting shareAwilco LNG 1 ASNorwayFormer vessel SPV2 February 2011100 %Awilco LNG 2 ASNorwayFormer vessel SPV2 February 2011100 %Awilco LNG 3 ASNorwayFormer vessel SPV2 February 2011100 %Awilco LNG 4 ASNorwayOwner of LNG/C WilForce6 May 2011100 %Awilco LNG 5 ASNorwayOwner of LNG/C WilPride6 May 2011100 %Awilco LNG Technical Management ASNorwayTechnical management17 September 2012100 %The subsidiaries\u2019 registered office is Beddingen 8, 0250 Oslo. All subsidiaries are included in the consolidated financial statement from their respective dates of incorporation.", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__138": { "value": "Note 23 // Commitments, contingencies and guaranteesOperating lease commitments The Group has no operating lease commitments as at 31 December 2023. Contingent assets As disclosed in note 7 WilForce was involved in a collision in May 2019 which caused hull damage, but with no harm to life or the environment. In a trial related to liability Awilco LNG returned with a verdict of 75:25 in the Company\u2019s favor. In December 2023 a full and final settlement agreement was entered into between all parties. As no effects of the claim have been reflected in Awilco LNG\u2019s financial statements until the awarded compensation the USD 5 million obtained in the settlement was accounted for in fourth quarter 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__137": { "value": "Note 23 // Commitments, contingencies and guaranteesOperating lease commitments The Group has no operating lease commitments as at 31 December 2023. Contingent assets As disclosed in note 7 WilForce was involved in a collision in May 2019 which caused hull damage, but with no harm to life or the environment. In a trial related to liability Awilco LNG returned with a verdict of 75:25 in the Company\u2019s favor. In December 2023 a full and final settlement agreement was entered into between all parties. As no effects of the claim have been reflected in Awilco LNG\u2019s financial statements until the awarded compensation the USD 5 million obtained in the settlement was accounted for in fourth quarter 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__136": { "value": "Note 23 // Commitments, contingencies and guaranteesOperating lease commitments The Group has no operating lease commitments as at 31 December 2023. Contingent assets As disclosed in note 7 WilForce was involved in a collision in May 2019 which caused hull damage, but with no harm to life or the environment. In a trial related to liability Awilco LNG returned with a verdict of 75:25 in the Company\u2019s favor. In December 2023 a full and final settlement agreement was entered into between all parties. As no effects of the claim have been reflected in Awilco LNG\u2019s financial statements until the awarded compensation the USD 5 million obtained in the settlement was accounted for in fourth quarter 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__140": { "value": "Note 24 // Events after the reporting dateDividend On February 27, 2024 the Board authorized a cash dividend payment of NOK 1.00 per share to the shareholders on record as of march 19, 2024. The shares in Awilco LNG ASA traded ex. dividend from and including March 18, 2024, and dividend of USD 12.5 million (NOK 132.5 million) was paid in April 2024. The dividend is classified as return of paid in capital.Refinancing December 2023 the Company signed a Term Sheet for refinancing of both vessels. The refinancing will reduce the Company\u2019s finance cost and cash break even substantially once completed. As credit approval was received in February 2024 there are no ef-fect on the 2023 accounts related to the refinancing. Closing of the refinancing is expected at the end of second quarter 2024. ", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s7_notes__6__139": { "value": "Note 24 // Events after the reporting dateDividend On February 27, 2024 the Board authorized a cash dividend payment of NOK 1.00 per share to the shareholders on record as of march 19, 2024. The shares in Awilco LNG ASA traded ex. dividend from and including March 18, 2024, and dividend of USD 12.5 million (NOK 132.5 million) was paid in April 2024. The dividend is classified as return of paid in capital.Refinancing December 2023 the Company signed a Term Sheet for refinancing of both vessels. The refinancing will reduce the Company\u2019s finance cost and cash break even substantially once completed. As credit approval was received in February 2024 there are no ef-fect on the 2023 accounts related to the refinancing. Closing of the refinancing is expected at the end of second quarter 2024. ", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXJO5C34", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } } } }