| 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] | Corporate 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-Thani 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 main activities of the Company and its subsidiaries (referred to collectively as "the Group") include, but are not limited to, the following:1-Activities of head offices. 2-General construction of residential buildings. 3-Goods land transportation . 4-Logistic services. 5-Provision of private civil security guard services. 6-Transportation of cash, precious metals, and valuable documents to and from banks and ATM machines. 7-Cash and mail collection and sorting. 8-Wholesale and retail trade in surveillance, security, safety, electronic devices, and their maintenance and operation.9-Building maintenance, cleaning, crowd organization, and management. 10-General building cleaning. 11-Purchase and sale of lands and real estate, subdivision, map selling activities, management and leasing of owned or leased properties (residential and non-residential), construction of residential buildings and general non-residential building construction, management and leasing of residential and non-residential properties, and real estate management activities for a commission.12-Building maintenance services. 13-Towing and roadside assistance activities. 14-Repair and maintenance of wireless telephone devices. 15-Wholesale of medical devices, equipment, and supplies. | |
| 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 - P.O. Box 7939.The Company's fiscal year begins on the first of January and ends at the end of December of each calendar year. | |
| Other disclosures about reporting entity [text block] | CapitalThe shareholders of the Company in their meeting held on to 2 Jumada Al-Ula 1443H (corresponding to 6 December 2022) 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 regulatory procedures for increasing the capital have been completed, including the approval of the Capital Market Authority, which was obtained on 26 Rabi Al-Awwal 1443H (corresponding to 2 November 2022) and was completed during the year 2022.On 21 June 2023, the extraordinary general assembly of the Company’s shareholders approved amending the Company’s bylaws in accordance with the new companies’ system, the amended corporate governance regulations issued by the Capital Market Authority and their executive regulations. The most important of these amendments are:- Splitting the nominal value of the share from (10) ten Riyals per share to (1) one Riyal per share, so that the number of Company shares becomes (600,000,000) six hundred million shares instead of (60,000,000) sixty million shares.-Cancelling the limit of the Company’s term specified in the Company’s bylaws at (50) years.- Cancelling the statutory reserve item in the bylaws and transfer the entire balance of the statutory reserve on the date of the assembly to the accumulated losses account. | |
| Disclosure of basis of preparation of financial statements [abstract] | | |
| Disclosure of basis of preparation of financial statements [text block] | These 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] | These consolidated financial statements have been prepared in accordance with the cost convention unless otherwise stated in the relevant accounting policies referred to below. | |
| Disclosure of functional and presentation currency [text block] | These consolidated financial statements are presented in Saudi Riyal (SR), which is the Group's functional and presentation currency. These consolidated financial statements have been rounded-off to the nearest Saudi Riyal, unless otherwise stated. | |
| Disclosure of going concern [text block] | The financial statements have been prepared on a 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 financial statements comprise the consolidated financial statements of the Company and its subsidiaries as at 31 December 2023. The financial statements of the subsidiaries are prepared for the same reporting period as the 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 to risk, or rights, to variable returns from its involvement with the investeeThe 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 subsidiary 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 upon consolidation.A change in 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 recognized 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] | In 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 recognized prospectively. The following are the key assumptions concerning the future, and other key sources of estimating uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. The Group based 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 in non-financial assets The Group assesses at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Group estimates the asset’s recoverable amount. An asset’s recoverable amount is the higher of assets or Cash generating units (“CGU”) fair value less costs of disposal and its value in use. Recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. When the carrying amount of an asset or Cash Generating Unit exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.In assessing value in use, the estimated future cash flows are discounted to their present value using a pre- tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of selling completion, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded entities or other available fair value indicators.Impairment losses of continuing operations are recognized in the consolidated statement of profit or loss and other comprehensive income in expense categories consistent with the function of the impaired asset, except for properties previously revalued with the revaluation taken to OCI. For such properties, the impairment is recognized in OCI up to the amount of any previous revaluation.For assets excluding goodwill, an assessment is made at each reporting date to determine whether there is an indication that previously recognized impairment losses no longer exist or have decreased. If such indication exists, the Group estimates the asset’s or CGU’s recoverable amount. A previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the asset’s recoverable amount since the last impairment loss was recognized. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. This reversal is recognized in the separate statement of profit or loss and other comprehensive income unless the asset is included at the revaluation value, in which case, this reversal is treated as an increase in revaluation. The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. For the purpose of impairment testing, assets that cannot be measured individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the “cash-generating unit, or CGU”). If there is an indication that the Company's asset may depreciate, then the recoverable amount is determined for the cash-generating unit to which the Company's asset belongs. An impairment loss is recognized if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses are recognized in the consolidated statement of income. Impairment losses recognized in respect of CGUs are allocated first to reduce the carrying amount of any goodwill allocated to the units, and then to reduce the carrying amounts of the other assets in the unit (group of units) on a pro rata basis. | |
| Disclosure of revaluation and useful lives of property, plant and equipment, intangible assets and investment properties [text block] | Management reviews the 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 the useful life of property and equipment during the year. | |
| Disclosure of impairment of financial assets [text block] | 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 a 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 interest or principal payments, the probability that they will enter bankruptcy or other financial reorganization and where observable data indicate that there is a measurable decrease in the estimated future cash flows, such as changes in arrears or economic conditions that correlate with defaults.With regard to trade receivables, the Group uses the simplified approach permitted by the IFRS, which requires that expected losses be recognized over the life of these receivables starting from their initial recognition when calculating expected credit losses. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs 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 The Group recognises revenue based on a five-step model as set out in IFRS (15):Step (1): A contract is defined as an agreement between two or more parties that creates enforceable rights and obligations and set out the criteria for every contract that must be met.Step (2): A performance obligation is a promise in a contract with a customer to transfer a good or service to the customer.Step (3): Determine the transaction price: The transaction price is the amount of consideration to which the Group expects to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties.Step (4): Allocate the transaction price: For a contract that has more than one performance obligation, the Group allocates the transaction price to each performance obligation in an amount that depicts the amount of consideration to which the Group expects to be entitled in exchange for satisfying each performance obligation.Step (5): Recognise revenue when (or as) the entity satisfies a performance obligation.Revenue from rendering of 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 judgements used in operating lease commitments [text block] | 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 recognized 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 | |
| Disclosure of defined benefit plans [text block] | Short term employees’ benefits Short-term employees' benefits are expensed as the related services are provided. A liability is recognized for the amount expected to be paid if the Group has a present legal or constructive obligation to pay the amount as a result of past service provided by the employees and the obligation can be estimated reliably. Defined contribution plansRetirement benefit in the form of General Organization of Social Insurance (GOSI) is a defined contribution scheme. The Group has no obligation, other than the contribution payable to the GOSI. The Group recognises contribution payable to the GOSI as an expense when due.Defined benefit plansA defined benefit plan is a post-employment benefit plan other than a defined contribution plan. The net pension liability recognized in the consolidated statement of financial position in respect of defined benefit post-employment plans is the present value of the projected defined benefit obligation (DBO) at the statement of financial position date. The defined benefit obligation is calculated annually by qualified actuaries using the projected unit credit method. Re-measurement amounts, if any, are recognized and reported within other reserves under the consolidated statement of changes in equity with corresponding debit or credit to consolidated statement of other comprehensive income that comprises of actuarial gains and losses on the defined benefits obligation | |
| Disclosure of summary of significant accounting policies [abstract] | | |
| Description of accounting policy for cash and cash equivalents [text block] | Cash and bank balances shown in the consolidated statement of financial position consist of cash at banks, cash on hands and short-term deposits that are subject to insignificant changes in value. | |
| Description of accounting policy for current/ non-current classification [text block] | The Group presents assets and liabilities in the statement of financial position based on current/non-current classification. An asset is current when it is:Expected to be realized or intended to be sold or consumed in normal operating cycle,It is held primarily for the purpose of tradingIt expects to realize the asset within twelve months after the reporting date; orcash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.Cash and cash equivalents (continued)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 are classified as non-current. | |
| Description of accounting policy for financial assets [text block] | Financial assetsInitial recognition and measurementTrade receivables are initially recognized when they are originated. All other financial assets are initially recognized when the Group becomes party to the contractual provisions of the instrument.Financial assets are classified, at initial recognition, as subsequently measured at amortized cost, fair value through other comprehensive income (OCI), and fair value through profit or loss.The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flows characteristics and the Company’s business model. The Company has the following financial assets:Financial 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 amortized cost are subsequently measured using the effective interest rate (“EIR”) method and are subject to impairment. Gains and losses are recognised in consolidated statement of income when the asset is derecognized, 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 equipment are stated at cost, net of accumulated depreciation and/or 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 recognized 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 recognized 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, 20 - 33 yearsWorkshop and prefabricated house fittings10 - 15 yearsTrucks, trailers, cooling unit and cars4 - 15 yearsMachinery, tools, security equipment’s7 - 10 yearsFurniture and office devices4 - 5 yearsDecorations5 – 10 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 derecognized. 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 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 amortization and accumulated impairment losses. Internally generated intangibles, excluding capitalised development costs, are not capitalised and the related expenditure is reflected in statement of 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 amortized 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 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 amortization expense on intangible assets with finite lives is recognized 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 the Smart Parking Project resulting from concession service arrangements, which are controlled by the public sector (the “grantor”) or regulate the services provided and fixed prices as well as control any remaining significant interest in the infrastructure such as property and equipment in the case of the grantor’s infrastructure or which was 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.Parking concession rights include all costs incurred in connection with the parking. Service concessions also include certain property, plant and equipment classified as intangible assets under IFRIC 12 “Service Concession Arrangements”. The intangible arrangement in a service concession is the period during which the Group can charge the public for the use of smart parking until the end of the concession period of 25 years or over 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 recognized in the consolidated statement of profit or loss when the asset is derecognized. | |
| Description of accounting policy for impairment of financial and non-financial assets [text block] | Impairment 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 of disposing of the asset. The value in use is based on a Discounted Cash Flow ("DCF") model. 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 sensitive to the discount rate used for the DCF method as well as the expected future cash-inflows and the growth rate used for extrapolation purposes | |
| Description of accounting policy for foreign currencies [text block] | Transactions in foreign currencies are initially recorded by the Group entities at their respective functional currency spot rates 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 recognized in consolidated statement of income. | |
| Description of accounting policy for trade accounts payable and accruals [text block] | Accruals are recognized for amounts to be paid in the future for goods received or services provided, whether billed by the supplier or not | |
| Description of accounting policy for provisions [text block] | Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of past events, and 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. Where management of 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 discount is used, the increase in the provision due to the passage of time is recognized as 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 recognizes 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 it is probable that resources will outflow with economic benefits is unlikely. | |
| Description of accounting policy for debt securities, term loans, borrowings, sukuks and murabahas [text block] | Borrowings 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.The fees paid to enter the borrowing facility are calculated as transaction costs of the loan, provided there is a possibility of withdrawing some or all of the facilities. 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 expenses on a time basis using the actual interest rate method | |
| Description of accounting policy for employees' terminal benefits [text block] | 1-The Group grants defined benefits (“Benefits Program”) to its employees, considering the requirements of the labor law in the Kingdom of Saudi Arabia. The benefits granted under this benefit program represent a lump sum calculated on the basis of employees' latest salaries and allowances and their accumulated years of service at the date of termination of service.2-The benefit obligation recorded in the consolidated statement of financial position regarding the defined end-of-service reward program represents the present value of the defined benefit obligation at the date of preparing the consolidated financial statements.3-Defined benefits are calculated periodically by qualified actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting estimated future cash outflows using the yields on high-quality corporate bonds denominated in the currency in which the benefits will be paid.The remeasurement amounts of actuarial gains and losses on the defined benefit obligation, if any, are recognized and included in the remeasurement of employees’ end-of-service benefits in the consolidated statement of comprehensive income, and the accumulated actuarial gains or losses are included in the consolidated statement of changes in equity | |
| Description of accounting policy for zakat [text block] | The 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 adjusted Zakat profit whichever is higher or on a net equity basis using the basis specified in the Zakat Regulation (Zakat Base) whichever is higher. 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. Zakat provision is charged to the consolidated statement of profit or loss. 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 finalized. | |
| Description of accounting policy for segment reporting [text block] | A segment is a component of the Group that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to transactions with any of the Group’s other components. All operating segments’ operating results are reviewed by the Group’s Chief Operating Decision maker to make decision about resources to be allocated to the segment and to assess its performance, and for which discrete financial information is available. | |
| Description of accounting policy for business combinations and goodwill [text block] | 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. 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 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 is 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 to 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 by using the asset in its highest and best use or by selling it to another market participant that would use 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, maximizing the use of relevant observable inputs and minimizing 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 recognized in net of the amount of VAT, unless VAT incurred in connection with the purchase of assets or services is not refundable from the tax authority, in which case VAT is recognized as part of the cost of purchasing the asset or as part of the expense item as applicable, receivables and payables appearing with the VAT amount 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 the liabilities 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 recognized 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 recognized directly in consolidated statement of changes in equity. | |
| Description of accounting policy for borrowing costs [text block] | Finance costs comprise financial charges on term loans that are recognized in consolidated statement of profit or loss. Borrowing costs that are not directly attributable to the acquisition, construction or production of a qualifying asset are recognized in consolidated statement of profit or loss using the effective interest method. | |
| Description of accounting policy for investment properties[text block] | Investment PropertiesInvestment properties represent non-current assets acquired either to generate rental income or capital appreciation or both, and which are not intended for sale during the normal course of business, or for 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 derecognized 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 recognized 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 | |
| Disclosure of new and amended standards and interpretations [text block] | Standards and amendments to IFRS effective on 1 January 2023 or after (unless otherwise stated),-IFRS 17 Insurance Contracts-Definition of Accounting Estimates - Amendments to IAS 8-Disclosure of Accounting Policies - Amendments to IAS 1 and IFRS Practice Statement 2 -Deferred Tax related to Assets and Liabilities arising from a Single Transaction - Amendments to IAS 12These amendments had no impact on the Group’s consolidated financial statements.The Group did not carry early adopt any other standard or interpretation or amendment issued, but not yet effective.NEW STANDARDS ISSUED, AND STANDARDS ISSUED BUT NOT YET EFFECTIVEThe new, amended, and issued standards and interpretations, which are not effective yet as at 31 December 2023, have not been adopted early by the Group and will be adopted on their effective date as applicable. The adoption of these standards and interpretations is not expected to have any material impact on the Group on the effective date.Standard, Amendment or InterpretationEffective date-Amendments to IAS (1): Classification of Liabilities as Current or Non-current1 January 2024-Amendment to IFRS 16: Lease Liability in a Sale and Leaseback1 January 2024-Disclosures: Supplier Finance Arrangements - Amendments to IAS 7 and IFRS 71 January 2024-Lack of exchangeability – Amendments to IAS 211 January 2025 | |
| Disclosure of other notes forming part of accounts [abstract] | | |
| Disclosure of trade account receivables [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 | |
| Disclosure of assets subject to finance lease [text block] | Right-of-use assetsOn 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: 3 - 5 years Trucks: 5 – 6 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. | |
| Disclosure of cost of sales [text block] | Cost of revenueThe cost of revenue includes all direct operating expenses related to transportation and the generation of transport revenues, including the costs of services from external sources (security, maintenance, repair, leasing services ... etc.) and the costs of the security guards Segment, feeding ATMs, transferring money, counting money, maintenance and operation, fuel, oils, labor, rental of means of transport and work places and depreciation of the transportation fleet, insurance, and all other direct expenses. Other operating expenses are considered general and administrative expenses | |
| Disclosure of selling and distribution expenses [text block] | ExpensesExpenses are recognized when incurred on an accrual basis of accounting. Expenses are classified as: a)Sales and marketing These include expenses resulting from the Company's efforts in selling and marketing.b)General and administrative expenses: All other expenses, except for financing costs, are classified as general and administrative expenses. Allocations between cost of revenue, selling and marketing expenses and general and administrative expenses, when required, are made on consistent basis. | |
| Disclosure of earnings per share [text block] | The number of shares for comparative periods has been adjusted retrospectively to reflect the sharing of shares (Note Capital). Because this represents a change in the number of underlying shares, without a corresponding change in resources, the weighted average number of underlying shares outstanding over all periods presented is adjusted retrospectively.Basic profit/(loss) per share is calculated against the profit/(loss) related to common shares by dividing the net profit/(loss) attributable to holders of common shares by the weighted average number of common shares outstanding during the period. Diluted earnings/(loss) per share are similar to basic earnings/(loss) per share as the Company has no diluted shares on issue. | |
| Disclosure of segments 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 10 business units based on their services, and the following are the operating segments of the Group:Transportation segmentThe transportation 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 sector consists of buying, selling and developing lands, constructing buildings on them, investing them by selling or renting them to group entities and external parties, and establishing and operating commercial and industrial projects.Security guard sectorIt includes providing security guards and shift services to banks and companies.ATM feeding sectorIt includes feeding and maintenance services for banks' ATMs.Cash in transit, 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 sectorIt 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.The management monitors the operating results of its business units separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on profit or loss from is measured consistently with operating profit or loss in the consolidated financial statements. | |
| Disclosure of risk management [abstract] | | |
| Disclosure of credit risk [text block] | 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 | |
| Disclosure of liquidity risk [text block] | It is the risk that a Group will have difficulties in obtaining funds to meet liabilities associated with financial instruments. Liquidity is managed on a regular basis to ensure availability of sufficient funds to meet any future liabilities.Liquidity risk management is carried out by holding sufficient cash and current securities, and providing financing through sufficient binding credit facilities, and the ability to liquidate market positions. Due to the nature of the Group business, the Group aims to maintain the flexibility of the financing process by providing binding credit channels | |
| Disclosure of interest rate risk [text block] | Interest rate risk is the risk that the value of nancial instruments will uctuate due to changes in the market interest rates. The Company’s short-term loans have a short tenure and carry a variable 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] | The Company is not exposed to any significant foreign exchange risk as the majority of its transactions are in Saudi Riyals. | |
| Disclosure of subsequent events [text block] | No significant events have occurred subsequent to the date of the consolidated financial statements and before the issuance of these consolidated financial statements, which require adjustment to, or disclosure. | |
| Disclosure of comparative figures and restatements [text block] | Certain prior year figures have been reclassified to conform with the current period presentation. | |
| Disclosure of board of director's approval of the financial statements [text block] | These consolidated financial statements were approved by the Company's board of directors on 14 March 2024 (corresponding to 4 Ramadan 1445H). | |
| Disclosure of capital management [text block] | The Group’s objectives in managing capital are to safeguard the Group’s ability to continue as a going concern, so that it can continue to provide returns to shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. For capital management purposes, capital was considered 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 31 December 2023 and 2022. | |
| Disclosure of fair value hierarchy [text block] | Financial instruments comprise financial asset and financial liabilities.The fair value 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. Financial liabilities consist of lease liabilities, trade payables, short term loans, shareholders’ receivables, 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 | |
