Company: SLMT
Filing Date: 2025-05-28
Form Type: 20-F/A
Source: 0001213900-25-048029
Chunk: 54

Company: Brera Holdings PLC
Filing Date: 2025-05-28
Form: 20-F/A
Chunk 54
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 goods, direct labor. Costs of purchases inventory are determined after deducting
rebates and discounts. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs
necessary to make the sale. Inventories are accounted for on a first-in-first-out (FIFO) basis.

Refundable Rental Deposits

Refundable rental deposits paid are accounted
under IFRS 9 and initially measured at fair value. Adjustments to fair value at initial recognition are considered as additional lease
payments and included in the cost of right-of-use assets.

Borrowing Costs

All borrowing costs are recognized in profit or
loss in the period in which they are incurred.

Taxation

Income tax expense represents the sum of the tax
currently payable and deferred tax.

The tax currently payable is based on taxable
profit for the year. Taxable profit differs from profit/(loss) before tax because of income or expense that are taxable or deductible
in other years and items that are never taxable or deductible. The Company’s liability for current tax is calculated using tax rates
that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognized on temporary differences
between the carrying amounts of assets and liabilities in the consolidated financial statements and the corresponding tax bases used in
the computation of taxable profit. Deferred tax liabilities are generally recognized for all taxable temporary differences. Deferred tax
assets are generally recognized for all deductible temporary differences to the extent that it is probable that taxable profits will be
available against which those deductible temporary differences can be utilized. Such deferred tax assets and liabilities are not recognized
if the temporary difference arises from the initial recognition (other than in a business combination) of assets and liabilities in a
transaction that affects neither the taxable profit nor the accounting profit. In addition, deferred tax liabilities are not recognized
if the temporary difference arises from the initial recognition of goodwill.

F-24

The carrying amount of deferred tax assets is
reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will
be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured
at the tax rates that are expected to apply in the period in which the liability is settled or the asset is realized, based on tax rate
(and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

The measurement of deferred tax liabilities and
assets reflects the tax consequences