| Notes forming part of accounts [line items] | | |
| Disclosure of notes and other explanatory information [text block] | | |
| Disclosure of general information about reporting entity [abstract] | | |
| Disclosure of general information about reporting entity [text block] | 1.GENERAL INFORMATIONBatic Investments and Logistics Company (the “Company” or “Batic”) - a Saudi Joint Stock Company - the previous name (Saudi Transport and Investment Company - Mubarrad) formed under the Regulations for Companies and is registered in the Riyadh, Kingdom of Saudi Arabia (“KSA”) under Commercial Registration No. 1010052902 dated 13, Rabi` Al-Akhir ,1404H (corresponding to 16 January 1984).Based on the approval of the extraordinary general assembly of the shareholders of the company on 6/7/1438H corresponding to 3/4/2017, the second article of the company's by-law has been amended to change the name of the company from (Saudi Transport and Investment Company - Mubarrad) to (Batic Investments and Logistics Company). | |
| Disclosure of information about major activities of reporting entity [text block] | The principal activities of the Company are in the purchase and sale of land and real estate and its division, construction of residential buildings and general construction of non-residential buildings, including (schools, hospitals, hotels, etc.), restoration of residential and non-residential buildings, construction and repair of roads, streets, sidewalks, road accessories, and finishing buildings. | |
| Disclosure of other general disclosures about reporting entity [text block] | The Company’s head office is located in Riyadh - Al-Olaya District - Al-Arz Street - PO Box 7939. | |
| Other disclosures about reporting entity [text block] | CapitalThe shareholders of the Company in their meeting held on to 2 Jumada al-Awal 1443H (corresponding to 6 December 2021) decided to increase the share capital of the Company from SR 300,000,000 to SR 600,000,000 (divided into 60,000,000 shares of SR 10 each). The legal formalities for the increase in share capital including approval by the Capital Market Authority which was obtained on 26 Rabi' Al-Awal 1443H (corresponding to 2 November 2021) were completed during the year 2022. | |
| Disclosure of basis of preparation of financial statements [abstract] | | |
| Disclosure of statement of compliance [text block] | Statement of complianceThese consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as endorsed in KSA and other standards and pronouncements that are issued by the Saudi Organization for Chartered and Professional Accountants (“SOCPA”) (referred to thereafter as “IFRS”). | |
| Disclosure of basis of measurement [text block] | Basis of measurementThese consolidated financial statements have been prepared under the historical cost convention unless stated otherwise in the below accounting policies. | |
| Disclosure of functional and presentation currency [text block] | Functional and presentation currency These consolidated financial statements are presented in Saudi Riyals (“SR”), which is the functional and presentation currency of the Group. These consolidated financial statements have been rounded-off to the nearest Saudi Riyal, unless otherwise stated. | |
| Disclosure of going concern [text block] | Going concernThe financial statements have been prepared under the going concern basis. The Group’s management has made an assessment of the Group’s ability to continue as a going concern and is satisfied that the Group has the resources to continue in business for the foreseeable future. Furthermore, the management is not aware of any material uncertainties that may cast significant doubt upon the Group's ability to continue as a going concern | |
| Disclosure of basis of consolidation of financial statements [text block] | Basis of Consolidation The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as at 31 December 2022. The financial statements of the subsidiaries are prepared for the same reporting period as the Parent Company, using consistent accounting policies.Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if, and only if, the Group has:Power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities of the investee);Exposure, or rights, to variable returns from its involvement with the investee;The ability to use its power over the investee to affect its returns.Generally, there is a presumption that a majority of voting rights results in control. In support of this assumption and, when the Group has less than a majority of the voting rights or similar rights in the investee, the Group takes into consideration all relevant facts and circumstances when determining whether it exercises control over the investee, including:-the contractual arrangement(s) with the other vote holders of the investee;-Rights arising from other contractual arrangements;-The Group’s voting rights and potential voting rights.The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the period are included in the consolidated financial statements from the date the Group gains control until the date the Group ceases to control the subsidiary.Profit or loss and each component of other comprehensive income (OCI) are attributed to the equity holders of the parent and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance.When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies in line with the Group's accounting policies. All intragroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation.A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. When a Group loses control over a subsidiary, it derecognizes the assets and liabilities of the subsidiary, and any related non-controlling interest and other components of equity. Any resulting gain or loss is recognised in the consolidated statement of comprehensive income. Any interest retained in the former subsidiary is measured at fair value when control is lost. Non-controlling interest ("NCI") represents the interest in subsidiary companies, not held by the Group. For each business combination, the Group elects whether to measure the non-controlling interest in the acquiree at fair value or at the proportionate share of the acquiree’s identifiable net assets. Transactions with non-controlling interest parties are treated as transactions with parties external to the Group. | |
| Disclosure of critical accounting judgements, estimates and assumptions [abstract] | | |
| Disclosure of critical accounting judgements, estimates and assumptions, general [text block] | 4.SIGNIFICANT ASSUMPTIONS AND ESTIMATESIn preparing these consolidated financial statements, management has made estimates and assumptions that affect the application of the Group’s accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Core estimates and assumptions are reviewed on an on-going basis. Revisions to estimates are recognised prospectively. The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a risk of causing an adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Group used its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur. | |
| Disclosure of impairment of non-financial assets [text block] | Impairment of non-financial assetsImpairment exists when the carrying value of an asset or cash generating unit (CGU) exceeds its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use. The fair value less costs of disposal calculation is based on available data from binding sales transactions, conducted at arm’s length, for similar assets or observable market prices less incremental costs for disposing of the asset. The value in use calculation is based on Discounted Cash Flow model (“DCF”). The cash flows are derived from the budget for the next five years and do not include restructuring activities that the Group is not yet committed to or significant future investments that will enhance the performance of the assets of the CGU being tested. The recoverable amount is most sensitive to the discount rate used for the DCF model as well as the expected future cash-inflows and the growth rate used for extrapolation purposes The Group assesses at each reporting date, whether there is any objective evidence that a financial asset or a group of financial assets is impaired. A financial asset or a group of financial assets is deemed to be impaired if, and only if, there is objective evidence of impairment as a result of one or more events that has occurred after the initial recognition of the asset and that loss event has an impact on the estimated future cash flows of the financial asset or the group of financial assets that can be reliably estimated.Evidence of impairment may include indications that the debtors or a group of debtors is experiencing significant financial difficulty, default or delinquency in principal payments, the probability that they will enter bankruptcy or other financial reorganisation and observable data indicating that there is a measurable decrease in the estimated future cash flows, such as changes in arrears or economic conditions that correlate with defaults. 2.SIGNIFICANT ACCOUNTING POLICIES (continued) Impairment of financial assets (continued) For trade receivables, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECL at each reporting date. The Group has established a provision matrix that is based in its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. | |
| Disclosure of revaluation and useful lives of property, plant and equipment, intangible assets and investment properties [text block] | Useful lives and residual values of property and equipment The management reviews useful lives and residual values of property and equipment annually. Any change in the estimated useful life or depreciation pattern will be accounted for prospectively. There was no change in useful lives of property and equipment during the year. | |
| Disclosure of impairment of financial assets [text block] | Impairment of financial assets (continued) For trade receivables, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECL at each reporting date. The Group has established a provision matrix that is based in its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. | |
| Disclosure of estimates used in revenue recognition [text block] | Revenues Revenue from contracts with customersRevenues from providing servicesRevenue from providing services is recognized in the accounting period in which the group provides the agreed services to its customers. Revenue is calculated for fixed-value and incomplete contracts at the end of the period in proportion to the service provided until the end of the period from the total service agreed upon in the contract.Revenues from Real estate segment Revenue from the real estate segment includes income from rental, property management and property sales.Real estate rental income is recognized on a straight-line basis over the term of the lease agreement. When the group provides a discount on the rent as an incentive to its clients, whether at the beginning or the end of the period, the cost of this discount is distributed in a straight-line method over the contract period and deducted from the rental income. Real estate management revenues are recognized in the accounting period in which the service is provided to its clients. In the event that the group acts as a middleman, only the commission value is recognized as revenue and not the total contract value. Construction, equipping and operating services RevenueRevenue relating to construction and fit-out services under service concession arrangements is recognized over time in line with the Group's accounting policy for construction contract revenue recognition. Operational or service revenue is recognized in the period in which the services are provided by the Group. If the service concession arrangement contains more than one performance obligation, then the consideration is allocated to a recipient by reference to the relative independent selling prices of the services provided. | |
| Disclosure of first-time adoption of IFRS [abstract] | | |
| Disclosure of changes made from first Interim IFRS financial statements to first IFRS financial statements [text block] | 3.New standard issues, standard issued but not yet effective New IFRS Standards, Issued and AdoptedAmendments to IFRS that were assessed by the Group on 1 January 2022 and had no material impact are as follows:Amendments and interpretationsAmendments to IAS 37: Onerous Contracts – Cost of Fulfilling a Contract.Amendments to IFRS 3: Reference to Conceptual Framework.Amendments to IAS 16: Property, Plant, and Equipment: Proceeds before Intended Use.Amendments to IFRS 1: First-time Adoption of International Financial Reporting Standards – Subsidiary as a first-time adopter.Amendments to IFRS 9: Financial Instruments – Fees in the “10%” test for derecognition of financial liabilities.Other Amendments of Relevant IFRS’S Issued But Not Yet EffectiveThe standards and amendments that are issued, but not yet effective, as of 31 December 2022 are disclosed below. The Group intends to adopt these new and amended standards and interpretations, if applicable, when they become effective. The management is still assessing the impact on the Group at their effective dates.Amendments and interpretationsIFRS 17: Insurance Contracts.Amendments to IAS 1: Classification of Liabilities as Current and Non-current.Amendments to IAS 8: Definition of Accounting Estimates.Amendments to IAS 1 and IFRS Practice Statement 2: Disclosure of Accounting Policies.Amendments to IAS 12: Deferred Tax related to Assets and Liabilities arising from a Single Transaction. | |
| Disclosure of summary of significant accounting policies [abstract] | | |
| Description of accounting policy for cash and cash equivalents [text block] | Cash and cash equivalentsCash and bank balances in the consolidated statement of financial position comprise cash at banks, on hand, and short-term deposits which are subject to an insignificant risk of changes in value. | |
| Description of accounting policy for current/ non-current classification [text block] | Current versus non-current classificationThe Group presents assets and liabilities in the statement of financial position based on current/non-current classification. An asset as current when it is:Expected to be realised or intended to be sold or consumed in the normal operating cycle,It is held primarily for the purpose of trading,Expected to be realised within twelve months after the reporting period; OrCash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.All other assets are classified as non-current. A liability is current when:It is expected to be settled in the normal operating cycle; it is held primarily for the purpose of trading; it is due to be settled within twelve months after the reporting period or there is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period. The Company classifies all other liabilities as non-current. | |
| Description of accounting policy for financial assets [text block] | Financial assetsInitial recognition and measurementTrade receivables are initially recognised when they are originated. All other financial assets are initially recognised when the Group becomes party to the contractual provisions of the instrument.Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through other comprehensive income (OCI), and fair value through profit or loss.The classification of debt financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Company’s business model. The Group has the following financial assetsFinancial assets at amortized cost:A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVPL:the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows; andthe contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.Financial assets at amortised cost are subsequently measured using the effective interest (“EIR”) method and are subject to impairment. Gains and losses are recognised in consolidated statement of income when the asset is derecognised, modified or impaired.The Group’s financial assets at amortised cost includes trade receivables and amounts due from related parties | |
| Description of accounting policy for property, plant and equipment [text block] | Property and equipmentProperty and equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Such cost includes the cost of replacing part of the property and equipment and borrowing costs (if any) for long-term projects if the recognition criteria are met. When significant parts of property and equipment are required to be replaced at intervals, the Company depreciates them separately based on their specific useful lives. Likewise, when a major inspection is performed, its cost is recognised in the carrying amount of the property and equipment as a replacement if the recognition criteria are satisfied. All other repair and maintenance costs are recognised in statement of income as incurred.Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets as follows:Buildings, decoration20-33 yearsWorkshop’s equipment and containers10 – 15 yearsTrucks, trailers cooling unit and cars4 - 15 yearsMachinery, security equipment’s7-10 yearsFurniture and office devices4-5 yearsAn item of property and equipment is derecognized upon disposal or when no future economic benefits are expected from its use. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of profit or loss when the asset is derecognised. The residual values, useful lives and methods of depreciation of property and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate | |
| Description of accounting policy for intangible assets [text block] | Intangible AssetsIntangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses. Internally generated intangibles, excluding capitalised development costs, are not capitalised and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred.The useful lives of intangible assets are assessed as either finite or indefinite.Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting estimates. The amortisation expense on intangible assets with finite lives is recognised in the statement of profit or loss in the expense category that is consistent with the function of the intangible assets.Intangible Assets are amortised on a straight-line basis over the estimated useful lives of the assets, as follows:Software: 5 yearsAssets arising from service concession arrangements (IFRIC 12)The Group's operations in relation to the smart parking project are carried out under long-term concession arrangements. The Group recognizes concession rights in project parking lots resulting from the concession service arrangement, which is under the control of the public sector (the “grantor”) or regulates the services provided and fixed prices as well as controls any significant remaining interest in infrastructure such as property and equipment in the case of the grantor’s infrastructure or created or purchased by the Group as part of a concession service arrangement.The Group recognizes an intangible asset arising from a service concession arrangement when it has a right to benefit from the concession infrastructure usage fees. Intangible assets received as consideration for the provision of construction or development services in a service concession arrangement are measured at fair value on initial recognition by reference to the fair value of the services.The parking concession rights include all costs incurred in connection with the parking lot. Port concession rights also include certain property, plant and equipment that are classified as intangible assets in accordance with the interpretation of IFRIC 12 “Service Concession Arrangements”. The intangible in service concession arrangements is the period during which the Group is able to charge the public for the use of smart parking until the end of the concession term of 25 years or for the life of the underlying assets – whichever is shorter.Gains or losses arising from de-recognition of service concession assets are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognised in the consolidated statement of profit or loss when the asset is derecognised. | |
| Description of accounting policy for foreign currencies [text block] | Foreign currenciesTransactions in foreign currencies are initially recorded by the Group entities at their respective functional currency spot rate at the date the transaction first qualifies for recognition.Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the consolidated financial statements date. All differences are recognised in consolidated statement of income. | |
| Description of accounting policy for trade accounts payable and accruals [text block] | AccrualsLiabilities are recognized for amounts to be paid in the future for goods or services received, whether billed by the supplier or not | |
| Description of accounting policy for provisions [text block] | Provisions, contingent assets and contingent liabilities Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. When the Company expects some or all of a provision to be reimbursed, for example, under an insurance contract, the reimbursement is recognized as a separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented in the statement of income net of any reimbursement. If the effect of the time value of money is material, provisions are discounted using a current rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost. A provision for onerous contracts is measured at the present value of the lower of the expected cost of terminating the contract and the expected net cost of continuing with the contract. Before a provision is established, the Group recognises any impairment loss on the assets associated with that contract.Contingent assets are not recognized in the consolidated financial statements but are disclosed when an inflow of economic benefits is probable.Contingent liabilities are not recognized in the consolidated financial statements but are disclosed unless the possibility of an outflow of resources embodying economic benefits is remote. | |
| Description of accounting policy for debt securities, term loans, borrowings, sukuks and murabahas [text block] | Term loans This is the category most relevant to the Group. After initial recognition, interest-bearing term loans are subsequently measured at amortised cost using the EIR method. Gains and losses are recognised in consolidated statement of income when the liabilities are derecognised as well as through the EIR amortisation process.Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are integral part of the EIR. The EIR amortisation is included as finance costs in the consolidated statement of income | |
| Description of accounting policy for employees' terminal benefits [text block] | Employees’ defined benefit obligationsThe Employees' defined benefit obligations are determined using actuarial valuations. An actuarial valuation involves making various assumptions, which may differ from actual developments in the future. These include the determination of the discount rate, future salary increases, mortality rates and future pension increases. Due to the complexity of the valuation, the underlying assumptions, and its long-term nature, a DBO is highly sensitive to changes in these assumptions. All assumptions are reviewed annually. | |
| Description of accounting policy for zakat [text block] | ZakatThe Company and its subsidiaries are subject to Zakat in accordance with the zakat regulation issued by the Zakat, Tax and Customs Authority ("ZATCA") in the KSA, which is also subject to interpretations. Zakat is levied at a fixed rate of 2.5% on the higher of adjusted Zakatable profit or based on net equity using the basis defined in the zakat regulation (the Zakat base). The management establishes provisions where appropriate on the basis of amounts expected to be paid to the ZATCA and periodically evaluates positions taken in the Zakat returns with respect to situations in which applicable Zakat regulation is subject to interpretation. The zakat provision is charged to the consolidated statement of income. Additional Zakat liability, if any, related to prior years’ assessments arising from ZATCA are accounted for in the period in which the final assessments are finalised. | |
| Description of accounting policy for statutory reserves [text block] | STATUTORY RESERVEIn accordance with the Companies Law and the Company’s by-laws, (10%) of the annual net profits is set aside to form the statutory reserve for the Company. It is permissible to discontinue this reserve when the aforementioned reserve reaches (30%) of the paid-up capital. The reserve is not available for distribution | |
| Description of accounting policy for segment reporting [text block] | SEGMENT INFORMATION The Group's management has defined the operational segments based on the reports reviewed by the Board of Directors on the basis of which strategic decisions are taken. For administrative purposes, the Group is organized into ten business units based on their services, and the following are the operating segments of the Group:Transportation segmentThe transport segment is represented in the transportation of goods and missions for a fee on the Kingdom's land roads, car and trailer rental services, rental of cold stores, fuel stations and maintenance workshops, and the purchase, sale and maintenance of equipment and machinery related to road transport.Real estate segmentThe real estate segment is represented in buying, Development and selling lands and constructing buildings on them and investing them by sale or rent for the Group’s entities and third parties, establishing and operating commercial and industrial projects.Security guards’ segmentIt includes providing security guards and shift services to banks and companies.ATM feedingIt includes feeding and maintenance services for banks' ATMs.Insurance money transfer, Counting and sorting of money and correspondence segmentIt includes transportation and insurance services for the transfer of money and valuables money counting and sorting services and postal correspondence.Facility management segmentIt includes maintenance and operation of buildings, property management and marketing for othersSmart parking segmentIt includes rent parking to others.Medical equipment supply segmentIt includes the supply of medical equipment to medical entities and institutions.Home medical services and physiotherapy segmentIt includes providing home medical services and physiotherapy for individuals and for others.Communications and information technology sectorIt includes the installation, maintenance and wholesale of electronic security devices, fire prevention and protection equipment and electronic alarm systems remotely or physically.Management monitors the operating results of its business units separately for the purpose of making decisions regarding resource allocation and performance assessment. Segment performance is evaluated based on profit or loss from operations and is measured consistently with operating profit or loss in the consolidated financial statements. | |
| Description of accounting policy for accounting of leases [text block] | IFRS 16Right to use assets (ROU)On initial recognition, at inception of the contract, the Group assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control is identied if most of the benets are owing to the Group and the Group can direct the usage of such assets.Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows: Buildings: 5 years Trucks: 5 yearsThe Group applies the cost model, and measures right of use assets at cost:less any accumulated depreciation and any accumulated impairment losses; if any, andadjusted for any re-measurement of the lease liability for lease modications, if any.If there are additional costs such as site preparation, non-refundable deposits, application money, other expenses related to the transaction, etc., these need to be added to the RoU asset value.Lease liabilities On initial recognition, the lease liability is the present value of all remaining payments to the lessor. After the commencement date, the Group measures the lease liability by:a)Increasing the carrying amount to reect incremental financing rate on the lease liability;b)Reducing the carrying amount to reect the lease payments made; andRe-measuring the carrying amount to reect any re-assessment or lease modication.The lease payments are discounted using the incremental borrowing rate, being the rate that the Company would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions.Payments associated with short-term leases and leases of low-value assets are recognised on a straight-line basis as an expense in the consolidated statement of comprehensive income Short-term leases are leases with a lease term of 12 months or less. Low-value assets comprise small items relating to office equipment. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose any covenants, but leased assets may not be used as security for borrowing purposes.Group as a lessor (rental income)When the Group acts as a lessor, it determines at the inception of the lease whether each lease is a finance lease or operating lease. To classify each lease, the Group makes an overall assessment whether the lease transfers substantially all the risks and rewards incidental to the ownership of the underlying asset. If that is the case then the lease finance lease, otherwise it is an operating lease.The Group does not have any finance leases as a lessor. The Group recognises lease payments under the operating leases as income on straight-line basis over the lease term. | |
| Description of accounting policy for business combinations and goodwill [text block] | Business combinations and Goodwill Business combinations are accounted for using the acquisition method upon transfer of control to the Group. The consideration transferred is measured at fair value, which is calculated as the sum of the acquisition-date fair values of the assets transferred by the Group, liabilities incurred by the Group to the former owners of the acquiree and the equity interests issued by the Group in exchange for control of the acquiree. Acquisition-related costs are generally recognized in the consolidated statement of profit or loss as incurred.When the Group acquires a business, it assesses the identifiable assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. This includes the separation of embedded derivatives in host contracts of the acquiree.At the acquisition date, the identifiable assets acquired and the liabilities assumed are recognized at their fair value with limited exceptions.Goodwill is initially measured as the excess of the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree, and the fair value at the acquisition-date of the acquirer's previously held equity interest in the acquiree (if any) over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. If, after reassessment, the net of the acquisition-date fair values of the identifiable assets acquired and liabilities assumed exceeds the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree and the fair value of the acquirer's previously held interest in the acquiree (if any), the Group re-assesses whether it has correctly identified all of the assets acquired and all of the liabilities assumed and reviews the procedures used to measure the amounts recognized at the acquisition date.If the reassessment still results in an excess of the fair value of net assets acquired over the aggregate consideration transferred, then a gain on bargain purchase at a differential price is recognized in the consolidated statement of profit or loss.After initial recognition, goodwill is measured at cost less accumulated impairment losses. For the purpose of impairment testing for goodwill acquired from the business combination and from the date of acquisition, it will be allocated to cash-generating units (“CGU”) that are expected to benefit from the consolidation regardless of whether the other assets or liabilities acquired have been allocated to those units. 2.SIGNIFICANT ACCOUNTING POLICIES (continued) Business combinations and Goodwill (continued)If goodwill is not allocated to designated cash-generating units because of an incomplete initial calculation, the initial impairment loss will not be tested unless impairment indicators are available to enable the Group to distribute the carrying amount of the goodwill to the cash generating units or the group of cash generating units expected to benefit from business combination. Where goodwill is allocated to the cash generating unit and part of the operations of that unit are disposed of, goodwill associated with the discontinued operation will be included in the carrying amount when determining the gain or loss on disposal of the operation. The goodwill in such circumstances is measured on the basis of the value of a similar disposed operation and the remaining portion of the cash-generating unit.Impairment is determined for goodwill by assessing the recoverable amount of each CGU (or group of CGUs) to which the goodwill relates. When the recoverable amount of the CGU is less than its carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods.Non-controlling interests that are present ownership interests and entitle their holders to a proportionate share of the entity's net assets in the event of liquidation may be initially measured either at fair value or at the non-controlling interests' proportionate share of the recognized amounts of the acquiree's identifiable net assets. The choice of measurement basis is made on a transaction-by-transaction basis. Other types of non-controlling interests are measured at fair value or, when applicable, on the basis specified in another relevant IFRS approved in Kingdom. Any contingent consideration to be paid (if any) will be recognized at fair value at the acquisition date and classified as equity or a financial liability. Contingent consideration classified as a financial liability is subsequently remeasured at fair value with the changes in fair value recognized in the consolidated statement of profit or loss. Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity. When a business combination is achieved in stages, the Group's previously held equity interest in the acquiree is remeasured to its acquisition-date fair value and the resulting gain or loss, if any, is recognized in the consolidated statement of profit or loss. Amounts arising from interests in the acquiree prior to the acquisition date that have previously been recognized in other comprehensive income are reclassified to the consolidated statement of profit or loss where such treatment would be appropriate if that interest were disposed of.If the initial accounting for the business combination is not completed by the end of the reporting period which constitutes the period in which the combination occurred, the Group presents the items whose value calculation has not been completed in a temporary manner in the consolidated financial statements. During the measurement period, which is not more than one year from the acquisition date, the temporary value recognized on the acquisition date is retroactively adjusted to reflect the information obtained about the facts and circumstances that existed at the date of acquisition and if it is determined that this will affect the measurement of amounts recognized as of that date. The Group recognizes additional assets or liabilities during the measurement period if new information becomes available about facts or circumstances that existed at the date of the acquisition and if it will result in recognition of assets or liabilities from that date. The measurement period ends once the group obtains all information that existed at the acquisition date or as soon as it becomes sure of the absence of more information | |
| Description of accounting policy for fair value measurement [text block] | Fair value Measurement Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:-In the principal market for the asset or liability; or-In the absence of a principal market, in the most advantageous market for the asset or liability.The principal or the most advantageous market must be accessible by the Group. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.A fair value measurement of a non-financial asset takes into account a market participant's ability to generate economic benefits from the asset’s highest and best use or by selling it to another market participant that would utilize the asset in its highest and best use.The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs | |
| Description of accounting policy for income and other taxes including deferred taxes [text block] | Value-Added Tax ("VAT")Expenses and assets are recognised net of the amount of value added tax, except, where VAT incurred on a purchase of assets or services is not recoverable from the taxation authority, in which case VAT is recognized as part of the cost of acquisition of the asset or as part of the expense item as applicable; and receivables and payables that are stated with the amount of VAT included. The net amount of value added tax recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the consolidated statement of financial position | |
| Description of accounting policy for cash dividend and non-cash distribution to equity holders of the parent [text block] | DividendsThe Group recognises a liability to make cash or non-cash distributions to equity holders when the distribution is authorised and the distribution is no longer at the discretion of the Group. Final dividends are recognised as a liability at the time or at the period of their approval by the General Assembly. Interim dividends are recorded as and when approved by the Board of Directors. A corresponding amount is recognised directly in consolidated statement of changes in equity | |
| Description of accounting policy for borrowing costs [text block] | Borrowings and borrowing costsBorrowings are recognized initially at fair value, net of transaction costs incurred, and then subsequently recognized at amortized cost with amortizing any difference between the proceeds (net of transaction costs) and the recovered value in the consolidated statement of comprehensive income over the period of the borrowing using the effective commission method. 2.SIGNIFICANT ACCOUNTING POLICIES (continued) Borrowings and borrowing cost (continued) Fees paid to enter into borrowing facilities are accounted for as transaction costs of the loan, provided there is a possibility that some or all of the facilities will be drawn down. In this case, the fee is deferred until the withdrawal occurs. In the event that there is no evidence that some or all of the facilities may be withdrawn, the fees are capitalized and recorded in the advance payments for liquidity services, and they are amortized over the period of the facilities related to them.Finance costs mainly represent expenses payable on borrowings obtained from financial institutions at normal commercial rates, and are recorded in expenses in the consolidated statement of comprehensive income in the period in which they are incurred.Borrowing costs directly related to the acquisition, construction or production of any qualifying asset are capitalized during the period of time required to complete and prepare the asset for its intended use. All borrowing costs are recognized in expense on a time proportion basis using the effective interest rate method | |
| Description of accounting policy for investment properties[text block] | Investment PropertiesInvestment properties are non-current assets held either to earn rental income or capital appreciation or both, but not for sale in context of normal operations, or their use in the production or supply of goods or services, or for administrative purposes. Real estate investment is measured at cost upon initial recognition thereafter, at cost less accumulated depreciation and impairment losses, if any.Investment properties are derecognised either when they have been disposed of or when they are permanently withdrawn from use and no future economic benefit is expected from their disposal. The difference between the net disposal proceeds and the carrying amount of the asset is recognised in statement of comprehensive income in the year of derecognition.Transfers are made to (or from) investment properties only when there is a change in use. For a transfer from investment property to owner-occupied property, the deemed cost for subsequent accounting is the fair value at the date of change in use. If owner-occupied property becomes an investment property, the Company accounts for such property in accordance with the policy stated under property, plant and equipment up to the date of change in use.Investment Properties are depreciated on a straight-line basis over the estimated useful lives of the assets, as follows:Buildings: 30 years | |
| Description of other accounting policies relevant to understanding of financial statements [text block] | Trade receivablesTrade receivables that do not contain a significant financing component or for which the Company has applied the practical expedient are measured at the transaction price determined under IFRS 15. Refer to the accounting policies in “Revenue from contracts with customers”.Investments at fair value through other comprehensive income (FVOCI)On initial recognition, the Group may make an irrevocable election (on an instrument-by-instrument basis) to designate investments in equity instruments as held at FVOCI. Designation at FVOCI is not permitted if the equity investments is held for trading or if it is contingent consideration recognized by an acquirer in a business combination to which IFRS 3 applies. A financial asset is held for trading if: it has been acquired principally for the purpose of selling it in the near term; or on initial recognition it is part of a portfolio of identified financial instruments that the Group manages together and has evidence of a recent actual pattern of short-term profit-taking; or it is a derivative (except for a derivative that is a financial guarantee contract or a designated and effective hedging instrument).Investments in equity investments held at FVOCI are initially measured at fair value plus transaction costs. Subsequently, they are measured at fair value with gains and losses arising from changes in fair value recognized in other comprehensive income and accumulated in the investments revaluation reserves. The cumulative gain or loss will not be reclassified to consolidated statement of income on disposal of the equity investments, instead, they will be transferred to retained earnings.Dividends on these equity investments are recognized in consolidated statement of income when the Group’s right to receive the dividends is established, unless the dividends clearly represent a recovery of part of the cost of the investment.DerecognitionA financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognized when:The right to receive cash flows from the asset have expired, orThe Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a ‘pass-through’ arrangement, and either:a)The Group has transferred substantially all the risks and rewards of the asset, or b)the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.ReclassificationsFinancial assets are not reclassified subsequent to their initial recognition, except in the period after the Group changes its business model for managing financial assets. | |
| Disclosure of other notes forming part of accounts [abstract] | | |
| Disclosure of earnings per share [text block] | Basic (loss) / profit per share versus loss or profit related to ordinary shares is computed by dividing the net loss or profit for the year attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the year. The (loss) earnings in diluted shares is similar to the basic (loss) / earnings per share as the company does not have any convertible shares. | |
| Disclosure of related party transactions [text block] | RELATED PARTIES TRANSACTION AND BALANCES (continue)c)Key management compensation Key management personnel of the Group comprise of key members of the management having authority and responsibility for planning, directing and controlling the activities of the Group | |
| Disclosure of risk management [abstract] | | |
| Disclosure of credit risk [text block] | Credit risk Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables, other current financial assets and related parties’ balances) and from its financing activities, including balances with banks. Trade receivables The average credit period granted is 90 days. No interest is charged on outstanding trade receivables. An impairment analysis is performed at each reporting date using a provision matrix to measure expected credit losses. The provision rates are based on days past due for grouping of various customer segments with similar loss patterns. The calculation reflects the probability-weighted outcome, the time value of money and reasonable and supportable information that is available at the reporting date about past events, current conditions and forecasts of future economic conditions. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets. | |
| Disclosure of liquidity risk [text block] | Liquidity risk and going concernIt is the risk that the group will encounter difficulties in obtaining funds to meet the liabilities associated with financial instruments. Liquidity is managed by regularly checking that it is available in sufficient amounts to meet any future liabilities.Liquidity risk management is carried out by maintaining sufficient cash and marketable securities, providing financing through an adequate amount of binding credit facilities, and the ability to liquidate market positions. Given the nature of the group's business, the group aims to maintain the flexibility of the financing process by providing committing credit channels. | |
| Disclosure of interest rate risk [text block] | Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company’s short-term loans have a short tenure and carry a floating rate of interest and is carried at amortized cost. Accordingly, management believes that the Company is not subject to any significant interest rate risk because it is a practice of the Company to settle all short-term debt obligations at the time of maturity which is generally one months. | |
| Disclosure of currency risk [text block] | Foreign exchange riskThe company does not face any significant exposure to foreign currency risk as the majority of its transactions are in Saudi Riyals | |
| Disclosure of subsequent events [text block] | SUBSEQUENT EVENTSSubsequent to the year end, one of the Group’s subsidiaries has signed a sale and purchase agreement (SPA) relating to a sale of its all ownership of Moshrat Al-Estijabah Company one of its subsidiaries that represent 95% of total shares. The legal formalities have been completed to conclude the transaction after the Company’s board of directors’ approval on 8 February 2023). | |
| Disclosure of commitments and contingencies [text block] | CONTINGENCIES AND CAPITAL COMMITMENTS29.1 Contingent liabilityAs at December 31, 2022, the Group has contingent liabilities in the form of bank guarantees amounting to SR 29.7 million issued in the normal course of business (2021: SR 107.1 million).29.2 Contingent assetOn 19 February 2023. the Group received a letter from Takaful AL Rajhi (insurance Company) with amount of SR 5.6 million that were provided during the year related to the asset embezzlement claim that covered under an insurance policy.29.3 Commitments The Group has capital commitments amounting to SR 26 million (2021: SR 14.4 million) relating to contracts of purchasing equipment and devices for establishing and operating the Group’s projects. | |
| Disclosure of comparative figures and restatements [text block] | COMPARATIVE FIGURESCertain comparative amounts have been reclassified for the purpose of a better presentation. Hoverer the effect of those reclassifications was not significant | |
| Disclosure of board of director's approval of the financial statements [text block] | APPROVAL OF THE CONSOLIDATED FINANCIAL STATEMENTSThese consolidated financial statements were approved by the Company's board of directors on 9 March 2023 (corresponding to 17 Shaaban 1444). | |
| Disclosure of capital management [text block] | CAPITAL MANAGEMENTThe Group’s objectives when managing capital are to safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other stakeholders and maintain an optimal capital structure to reduce the cost of capital. For capital management purposes, capital was considered as equal to the total equity of the Group.No changes were made in the objectives, policies or processes for managing capital during the years ended December 31, 2022 and 2021 | |
| Disclosure of fair value hierarchy [text block] | FAIR VALUESFinancial instruments comprise financial assets and financial liabilities.The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The Group's financial assets consist of bank balances and cash, trade receivables, other current financial assets, and due from related parties. Its financial liabilities consist of lease liabilities, trade payables, short term loans, due to shareholders and due to related parties. The above financial assets and liabilities, except for lease labilities, approximate their carrying amounts largely due to the short-term maturities of these instruments.The fair value of lease liabilities is not significantly different to its carrying value as the lease liabilities are determined based on discount rates which gets re-priced at regular intervals | |
