Company: MOBBW
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001013762-25-003365
Chunk: 124

Company: Mobilicom Ltd
Filing Date: 2025-03-27
Form: 20-F
Item: Item 19
Chunk 124
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New standards, interpretations and amendments not yet effective:

There are number of standards and interpretations which have
been issued by the International Accounting Standards Board that are effective for periods beginning subsequent to December 31, 2024
(the date on which the Company’s next annual financial statements will be prepared up to) that the Company has decided not to adopt
early.

The following amendments are effective for the
annual reporting period beginning January 1, 2025:

  Lack                                                                                        
  of Exchangeability (Amendment to IAS 21 The Effects of Changes in Foreign Exchange Rates);  
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The
following amendments are effective for the annual reporting period beginning January 1, 2026:

  Amendments                                                                                     
  to the Classification and Measurement of Financial Instruments (Amendment to IFRS 9 Financial  
  Instruments and IFRS 7)                                                                        
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  Contracts                                                                    

The
following standards and amendments are effective for the annual reporting period beginning January 1, 2027:

  IFRS                                                    

  IFRS                                                        

The Company is currently assessing the effect
of these new accounting standards and amendments.

Basis of preparation

These financial statements have been prepared
in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (‘ IASB’) and
Interpretations.

Historical cost convention

The financial statements have been prepared under
the historical cost convention, except for, where applicable, the revaluation of financial assets and liabilities at fair value through
profit or loss and other comprehensive income (loss).

Critical accounting estimates

The preparation of the financial statements requires
the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the
Company’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates
are significant to the financial statements, are disclosed in note 3 below.

F-13

  Mobilicom Limited                               
  Notes to the consolidated financial statements  
  December 31, 2024                               

Note 2. Significant accounting policies (continued)

Principles of consolidation

The consolidated financial statements incorporate
the assets and liabilities of all subsidiaries of the Company as at December 31, 2024 and the results of all subsidiaries for the year
then ended.

Subsidiaries are