Company: PLSAY
Filing Date: 2025-07-01
Form Type: 6-K/A
Source: 0001884082-25-000014
Chunk: 31

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-07-01
Form: 6-K/A
Chunk 31
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 statements, unless otherwise noted.

In April 2024, the IASB issued IFRS 18, Presentation and Disclosure in Financial Statements ("IFRS 18"), which outlines the requirements for the presentation and disclosure of information in financial statements. It includes the requirement to classify income and expenses into three new categories: operating, investing, and financing. IFRS 18 will replace IAS 1 and will be effective for annual periods beginning on or after January 1, 2027.

In May 2024, the IASB issued IFRS 19, Subsidiaries without Public Accountability: Disclosures ("IFRS 19"), which specifies reduced disclosure requirements that eligible entities can apply instead of the disclosure requirements in other IFRS accounting standards. This standard for annual periods is effective beginning on or after January 1, 2027.

In May 2024, the IASB issued amendments to IFRS 7, Financial Instruments: Disclosures ("IFRS 7"), and IFRS 9, Financial Instruments ("IFRS 9"), which clarify certain elements of recognition, derecognition, classification, measurement, and disclosure of financial instruments. The amendments are effective for annual periods beginning on or after January 1, 2026.

Presentation, basis of consolidation, segment reporting, and foreign currency

For a detailed description of the Group’s presentation, basis of consolidation, segment reporting, and foreign currency, including currency risk, refer to Note 2 - Significant accounting policies and judgements and Note 3 - Financial risk management of the Consolidated Financial Statements for Polestar Automotive Holding UK PLC, as of December 31, 2023 and 2022, and for the three years ended December 31, 2023, that were included in the Form 20-F/A filed with the SEC on April 23, 2025. There are no changes for the periods presented in these Unaudited Condensed Consolidated Financial Statements.

Restatement

Current Restatement

In connection with the preparation of our consolidated financial statements as of and for the year ended December 31, 2024, management identified misstatements pertaining to the Unaudited Condensed Consolidated Financial Statements for the six months ended June 30, 2024 and 2023. The errors identified during 2024 relate to balance sheet errors concerning the Company's unique tooling, a reclassification of cash flows between operating and investing activities and other smaller errors that were corrected as part of the rest