ESGL (ESGL) 6-K 7 Feb 25 Current report (foreign) Financial data

Cover

Cover	6 Months Ended
	Jun. 30, 2024
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	001-41772
Entity Registrant Name	ESGL Holdings Limited
Entity Central Index Key	0001957538
Entity Address, Address Line One	101 Tuas South Avenue 2
Entity Address, Country	SG
Entity Address, Postal Zip Code	637226

Consolidated Statement of Finan

Consolidated Statement of Financial Position - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 256,501	$ 366,761
Trade and other receivables	985,951	1,032,522
Prepaid forward purchase agreement		969
Inventories	78,682	64,184
Total current assets	1,321,134	1,464,436
Non-current assets
Property, plant and equipment, net	21,043,668	21,786,365
Intangible assets, net	2,475,974	2,381,465
Total non-current assets	23,519,642	24,167,830
Total assets	24,840,776	25,632,266
Current liabilities
Trade and other payables	5,503,478	6,560,559
Lease liabilities	149,516	192,282
Borrowings	4,672,286	5,666,160
Deferred underwriting fee payable	2,153,125	2,753,125
Tax liabilities	203,020	56,540
Total current liabilities	12,681,425	15,228,666
Non-current liabilities
Lease liabilities (non-current)	1,852,343	1,974,524
Borrowings (non-current)		112,319
Deferred tax liabilities	298,000	296,000
Total non-current liabilities	2,150,343	2,382,843
Total liabilities	14,831,768	17,611,509
Net assets	10,009,008	8,020,757
EQUITY
Share Capital	11,892	10,892
Accumulated losses	(100,457,352)	(99,985,928)
Other reserves	3,422,799	3,422,799
Share premium reserve	92,183,727	89,725,052
Exchange Reserves	(123,198)	(123,198)
Revaluation Surplus	14,971,140	14,971,140
Total equity	$ 10,009,008	$ 8,020,757

Consolidated Statement of Profi

Consolidated Statement of Profit or Loss and Other Comprehensive Income - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Profit or loss [abstract]
Revenue	$ 3,487,879	$ 3,394,313
Other income	282,213	189,335
Cost of inventory	(78,366)	(407,291)
Logistics costs	(264,638)	(792,079)
Depreciation of property, plant and equipment	(781,394)	(758,519)
Amortization of intangible assets	(559,340)	(426,515)
Employee benefits expense	(1,049,897)	(639,060)
Finance expense	(147,128)	(158,912)
Other operating expenses	(1,212,273)	(991,526)
Loss before income tax	(322,944)	(590,254)
Income tax expense	(148,480)	(39,000)
Net loss and comprehensive loss	$ (471,424)	$ (629,254)
Diluted earnings (loss) per share	$ (0.03)	$ (0.10)
Weighted average number of ordinary shares used in calculating diluted earnings per share	14,000,514	6,378,267

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity - USD ($)	Issued capital [member]	Revaluation reserve [member]	Exchange reserve [member]	Share premium [member]	Other reserves [member]	Retained earnings [member]	Total
Beginning balance at Dec. 31, 2022	$ 10,000	$ 15,157,824	$ (460,481)		$ 3,422,799	$ (5,006,590)	$ 13,123,552
IfrsStatementLineItems [Line Items]
Issuance of new shares	3			753,587			753,590
Loss for the year						(629,254)	(629,254)
Ending balance at Jun. 30, 2023	10,003	15,157,824	(460,481)	753,587	3,422,799	(5,635,844)	13,247,888
Beginning balance at Dec. 31, 2023	10,892	14,971,140	(123,198)	89,725,052	3,422,799	(99,985,928)	8,020,757
IfrsStatementLineItems [Line Items]
Issuance of new shares	1,000			2,458,675			2,459,675
Loss for the year						(471,424)	(471,424)
Ending balance at Jun. 30, 2024	$ 11,892	$ 14,971,140	$ (123,198)	$ 92,183,727	$ 3,422,799	$ (100,457,352)	$ 10,009,008

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Cash flows from operating activities
Loss before income tax	$ (322,944)	$ (590,254)
Adjustments for:
- Prepaid forward purchase agreement written-off	969
- Depreciation of property, plant and equipment	781,394	758,519
- Amortisation of intangible assets	559,340	426,515
- Interest income	(3)	(12,002)
- Interest expense	147,128	158,912
- Loss/(gain) on disposal of property, plant and equipment		1,795
- Foreign exchange adjustment	(191,391)	312,051
Total adjustments	974,493	1,055,536
Changes in operating assets and liabilties :
- Trade and other receivables	40,746	(687,016)
- Inventories	(14,498)	153,252
- Trade and other payables	(1,043,521)	167,205
Net cash (used in)/generated by operating activities	(42,780)	688,977
Cash flows from investing activities
Purchase of property, plant and equipment	(38,697)	(115,334)
Proceeds from disposal of property, plant and equipment		1,352
Additions to intangible assets	(653,849)	(633,912)
Interest received	3	12,002
Net cash used in investing activities	(692,543)	(735,892)
Changes from financing cash flows:
Proceeds from bank borrowings	747,197	2,246,518	$ 3,596,071
Repayment of bank borrowings	(1,691,453)	(1,831,341)
Shares issuance	2,459,675	753,590
Repayment of underwriting fees	(600,000)
Repayments of lease liabilities	(143,228)	(57,718)
Interest paid	(147,128)	(158,912)
Net cash provided by financing activities	625,063	952,137
Net (decrease)/increase in cash and bank balances	(110,260)	905,222
Cash and cash equivalents
Beginning of the financial year	366,761	252,399	252,399
End of the financial period	256,501	1,157,621	366,761
Beginning balance	7,945,285	8,055,976	8,055,976
Changes from financing cash flows:
Repayment of bank loans	(1,691,453)		(3,775,481)
Principal element of lease payments	(143,228)		(185,536)
Borrowing cost paid	(147,128)		(388,717)
Total change from financing cash flows	(1,234,612)		(753,663)
Other changes:
Exchange adjustments	(183,656)		246,025
Lease modification			8,230
Interest expenses	147,128		388,717
Total other changes	(36,528)		642,972
Ending balance	6,674,145		7,945,285
Lease liabilities [member]
Adjustments for:
- Interest expense	26,129	28,492
Changes from financing cash flows:
Proceeds from bank borrowings
Cash and cash equivalents
Beginning balance	2,166,806	2,257,335	2,257,335
Changes from financing cash flows:
Repayment of bank loans
Principal element of lease payments	(143,228)		(185,536)
Borrowing cost paid	(26,129)		(55,934)
Total change from financing cash flows	(169,357)		(241,470)
Other changes:
Exchange adjustments	(21,719)		86,777
Lease modification			8,230
Interest expenses	26,129		55,934
Total other changes	4,410		150,941
Ending balance	2,001,859		2,166,806
Long-term borrowings [member]
Changes from financing cash flows:
Proceeds from bank borrowings	747,197		3,596,071
Cash and cash equivalents
Beginning balance	5,778,479	$ 5,798,641	5,798,641
Changes from financing cash flows:
Repayment of bank loans	(1,691,453)		(3,775,481)
Principal element of lease payments
Borrowing cost paid	(120,999)		(332,783)
Total change from financing cash flows	(1,065,255)		(512,193)
Other changes:
Exchange adjustments	(161,937)		159,248
Lease modification
Interest expenses	120,999		332,783
Total other changes	(40,938)		492,031
Ending balance	$ 4,672,286		$ 5,778,479

General information

General information	6 Months Ended
	Jun. 30, 2024
General Information
General information	1. General information ESGL Holdings Limited ESGL Holdings Limited (“ESGL” or the “Company”) was incorporated in the Cayman Islands on November 18, 2022. Following the successful completion of a business combination on August 3, 2023, ESGL listed on Nasdaq and is a publicly traded company. ESGL’s stock commenced trading August 4, 2023. ESGL’s subsidiaries are as follows: Environmental Solutions Group Holdings Limited Environmental Solutions Group Holdings Limited is a holding company incorporated under the laws of the Cayman Islands as an exempted company with limited liability on June 14, 2022. The address of its registered office is 71 Fort Street, PO Box 500, George Town, Grand Cayman, KY1-1106, Cayman Islands. As a holding company with no material operations of its own, ESGH conducts all of its operations through its operating entity incorporated in Singapore, Environmental Solutions (Asia) Pte. Ltd. Environmental Solutions Asia Holdings Limited (“ESAH”) ESAH, a wholly-owned subsidiary of the ESGH, was incorporated on June 29, 2022 and domiciled in the British Virgin Islands with its registered office at Mandar House, 3 rd Environmental Solutions (Asia) Pte. Ltd. (“ESA”) ESA was incorporated and domiciled in Singapore, with its registered office at 101 Tuas, South Avenue 2, Singapore 637226. ESA is a waste management, treatment and recycling company involved in the collection and recycling of hazardous and non-hazardous industrial waste from customers such as pharmaceutical, semiconductor, petrochemical and electroplating companies. As ESGL, ESGH, ESAH and ESA (collectively the “Group”) were under common control, the Merger constituted a reorganization under common control and are required to be retrospectively applied to the consolidated financial statements at their historical amounts. The consolidated financial statements have been prepared as if the existing corporate structure had been in existence throughout all periods. This includes a retrospective presentation for all equity related disclosures, including issued shares, which have been revised to reflect the effects of the reorganization in accordance with International Financial Reporting Standards (“IFRS”) as of June 30, 2024 and 2023.

Basis of preparation

Basis of preparation	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Basis of preparation	2.1 Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IASB”). These financial statements have been prepared on a historical cost convention, except for Prepaid forward purchase agreement and leasehold land and buildings which are measured at fair value. The preparation of financial statements in conformity with IFRS requires management to exercise its judgement in the process of applying the Group’s accounting policies. It also requires the use of certain critical accounting estimates and assumptions. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued) 2.1 Basis of preparation (continued) 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. 2.2 Basis of Consolidation The financial statements are presented in United States Dollars (“US$”), which is the Group’s functional currency. All financial information presented in United States Dollars has been rounded to the nearest dollar, unless otherwise indicated. The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as at June 30, 2024 and 2023. A subsidiary is an entity (including a structured entity), directly or indirectly, controlled by the Company. Control is achieved when the Company 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 (i.e., existing rights that give the Company the current ability to direct the relevant activities of the investee). When the Company has, directly or indirectly, less than a majority of the voting or similar rights of an investee, the Company considers all relevant facts and circumstances in assessing whether it has power over an investee, including:- ● 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; and ● The ability to use its power over the investee to affect its returns. The financial statements of subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. The results of subsidiaries are consolidated from the date on which the Company obtains control, and continue to be consolidated until the date that such control ceases. Generally, there is a presumption that a majority of voting rights results in control. To support this presumption and when the Company has less than a majority of the voting or similar rights of an investee, the Company considers all relevant facts and circumstances in assessing whether it has power over an investee, including: ● The contractual arrangement(s) with the other vote holders of the investee; ● Rights arising from other contractual arrangements; ● The Company’s voting rights and potential voting rights. The Company assesses whether 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 Company obtains control over the subsidiary and ceases when the Company loses control of the subsidiary. Assets, liabilities, income, and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the Company gains control until the date the Company 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 of the Company 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 intra-group 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. If the Company loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non-controlling interest and other components of equity, while any resultant gain or loss is recognized in profit or loss. Any investment retained is recognized at fair value. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued) 2.3 Revenue recognition Revenue is measured based on the 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. Revenue is recognized when the Group satisfies a performance obligation by transferring a promised good or service to the customer, which is when the customer obtains control of the goods or services. A performance obligation may be satisfied at a point in time or over time. The amount of revenue recognized is the amount allocated to the satisfied performance obligation. Revenue from contracts with customers (a) Rendering of services Revenue from rendering of services is recognized when the entity satisfies the performance obligation at a point in time, generally when the significant acts have been completed and when transfer of control occurs, or for services that are not significant, transactions revenue is recognized as the services are provided. The Group’s primary service consists of collecting and disposing of industrial wastes for its customers. (b) Sale of goods Revenue from sale of goods is recognized at a point in time when the performance obligation is satisfied by transferring a promised good to the customer. Control of the goods is transferred to the customer, generally on delivery of the goods (in this respect, incoterms are considered). Other revenue Interest income Interest income is recognized using the effective interest method. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset, or where appropriate, a shorter period. Contract assets The contract assets are for the Group’s rights to consideration for work completed but not billed at the reporting date on its contracts; costs incurred to obtain or fulfil a contract with a customer; and any impairment losses recognized in the reporting year. The contract assets are transferred to the receivables when the right to payment becomes unconditional. 2.4 Government grants Grants from the government are recognized as a receivable at their fair value when there is reasonable assurance that the grant will be received and the Group will comply with all the attached conditions. Government grants receivable are recognized as income over the periods necessary to match them with the related costs which they are intended to compensate, on a systematic basis. Government grants relating to expenses are shown separately as other income. Government grants relating to non-monetary assets are deducted against the carrying amount of the non-monetary assets. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued) 2.5 Property, plant and equipment (a) Measurement (i) Property, plant and equipment Property, plant and equipment other than leasehold land and buildings are initially recognized at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses. Leasehold land and buildings are measured at fair value less accumulated depreciation and impairment losses recognized after the date of the revaluation. Valuations are performed frequently to ensure that the fair value of a revalued asset does not differ materially from its carrying amount. Any revaluation surplus is credited to the property revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognized in the Statement of Profit or Loss and Other Comprehensive Income, in which case the increase is recognized in the statement of profit or loss. A revaluation deficit is recognized in the statement of profit or loss, except to the extent that it offsets an existing surplus on the same asset recognized in the asset revaluation reserve. An annual transfer from the property revaluation reserve to accumulated losses is made for the difference between depreciation based on the revalued carrying amount of the assets and depreciation based on the assets original cost. Upon disposal, any revaluation reserve relating to that particular asset being sold is transferred to retained profits. (ii) Components of costs The cost of an item of property, plant and equipment initially recognized includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. (b) Depreciation Depreciation is calculated using the straight-line method to allocate depreciable amounts over the estimated useful lives as follows: Schedule of property, plant and equipment depreciation, estimated useful lives Useful lives Leasehold land and buildings Over the lease term period ranging from 2 to 30 years Plant and equipment 3 to 5 years Machineries 2 to 10 years Renovation 5 years Motor vehicles 10 years Furniture and fittings 5 years The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each reporting date. The effects of any revision are recognized in profit or loss when the changes arise. Fully depreciated property, plant and equipment are retained in the financial statements until they are no longer in use. (c) Subsequent expenditure Subsequent expenditure relating to property, plant and equipment that has already been recognized is added to the carrying amount of the asset only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. All other repair and maintenance expenses are recognized in profit or loss when incurred. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued) 2.5 Property, plant and equipment (continued) (d) Disposal On disposal of an item of property, plant and equipment, the difference between the disposal proceeds and its carrying amount is recognized in profit or loss. 2.6 Intangible assets Intangible assets acquired separately are measured initially at cost. Following initial acquisition, intangible assets are carried at cost less any accumulated amortization and any accumulated impairment losses. Internally generated intangible assets, excluding capitalized development costs, are not capitalized and expenditure is reflected in profit or loss in the year in which the expenditure is incurred. Intangible assets with finite useful lives are amortized over the estimated useful lives and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method are reviewed at least at each financial year-end. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for by changing the amortization period or method, as appropriate, and are treated as changes in accounting estimates. Amortization is calculated using the straight-line method to allocate depreciable amounts over the estimated useful lives of the assets. The estimated useful lives are as follows: Schedule of intangible assets depreciable, estimated useful lives Useful lives Software 3 years 2.7 Borrowing costs Borrowing costs are recognized in profit or loss using the effective interest method. 2.8 Impairment of non-financial assets Intangible assets, property, plant and equipment and right-of-use assets are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired or when annual impairment testing for an asset is required. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the cash-generating units (“CGU”) to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognized as an impairment loss in profit or loss. An impairment loss for an asset is reversed if, and only if, there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. The carrying amount of this asset is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of accumulated depreciation) had no impairment loss been recognized for the asset in prior years. A reversal of impairment loss for an asset is credited to profit or loss in the period in which it arises. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued) 2.9 Financial assets (a) Classification and measurement The Group classifies its financial assets at amortized cost. The classification of debt instruments depends on the Group’s business model for managing the financial assets as well as the contractual terms of the cash flows of the financial assets. Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest. The Group reclassifies debt instruments when and only when its business model for managing those assets changes. At initial recognition At initial recognition, the Group measures a financial asset at its fair value plus, in the case of the financial assets not a fair value through profit or loss, transactions costs that are directly attributable to the acquisition of the financial asset. At subsequent measurement Debt instruments are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cost. A gain or loss on a debt instrument that is subsequently measured at amortized cost and is not part of a hedging relationship is recognized in profit or loss when the asset is derecognized or impaired. Interest income from these financial assets is included in interest income using the effective interest rate method. (b) Impairment of financial assets The Group recognizes a loss allowance for expected credit loss (“ECL”) on financial assets which are subject to impairment under IFRS 9 (including trade and other receivables). The amount of ECL is updated at each reporting date to reflect changes in credit risk since initial recognition. Lifetime ECL represents the ECL that will result from all possible default events over the expected life of the relevant instrument. In contrast, 12-month ECL (“12m ECL”) represents the portion of lifetime ECL that is expected to result from default events that are possible within 12 months after the reporting date. Assessments are done based on the Group’s historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current conditions at the reporting date as well as the forecast of future conditions. The Group always recognizes lifetime ECL for trade and other receivables. The ECL on these assets are assessed individually for debtors with significant balances and/or collectively using a provision matrix with appropriate groupings. For all other instruments, the Group measures the loss allowance as equal to 12m ECL, unless there has been a significant increase in credit risk since initial recognition for which the Group recognizes lifetime ECL. The assessment of whether lifetime ECL should be recognized is based on significant increases in the likelihood or risk of a default occurring since initial recognition. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued) 2.9 Financial assets (b) Impairment of financial assets (continued) (i) Significant increase in credit risk In assessing whether the credit risk has increased significantly since initial recognition, the Group compares the risk of a default occurring on the financial instrument as at the reporting date with the risk of a default occurring on the financial instrument as at the date of initial recognition. In making this assessment, the Group considers both quantitative and qualitative information that is reasonable and supportable, including historical experience and forward-looking information that is available without undue cost or effort. In particular, the following information is taken into account when assessing whether credit risk has increased significantly: ● An actual or expected significant deterioration in the financial instrument’s external (if available) or internal credit rating; ● Significant deterioration in external market indicators of credit risk, e.g. a significant increase in the credit spread, or the credit default swap prices for the debtor; ● Existing or forecast adverse changes in business, financial or economic conditions that are expected to cause a significant decrease in the debtor’s ability to meet its debt obligations; ● An actual or expected significant deterioration in the operating results of the debtor; ● An actual or expected significant adverse change in the regulatory, economic, or technological environment of the debtor that results in a significant decrease in the debtor’s ability to meet its debt obligations. Irrespective of the outcome of the above assessment, the Group presumes that the credit risk has increased significantly since initial recognition when contractual payments are more than 30 days past due, unless the Group has reasonable and supportable information that demonstrates otherwise. The Group regularly monitors the effectiveness of the criteria used to identify whether there has been a significant increase in credit risk and revises them as appropriate to ensure that the criteria are capable of identifying significant increase in credit risk before the amount becomes past due. (ii) Definition of default For internal credit risk management, the Group considers an event of default occurs when information developed internally or obtained from external sources indicates that the debtor is unlikely to pay its creditors, including the Group, in full (without taking into account any collateral held by the Group). Irrespective of the above, the Group considers that default has occurred when a financial asset is more than 90 days past due unless the Group has reasonable and supportable information to demonstrate that a more lagging default criterion is more appropriate. (iii) Credit-impaired financial assets A financial asset is credit-impaired when one or more events of default that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. Evidence that a financial asset is credit-impaired includes observable data about the following events: (a) Significant financial difficulty of the issuer or the borrower; (b) A breach of contract, such as a default or past due event; (c) The lender(s) of the borrower, for economic or contractual reasons relating to the borrower’s financial difficulty, having granted to the borrower a concession that the lender(s) would not otherwise consider. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued) 2.9 Financial assets (b) Impairment of financial assets (continued) (iii) Credit-impaired financial assets (continued) (d) It is becoming probable that the borrower will enter bankruptcy or other financial reorganization; or (e) The disappearance of an active market for that financial asset because of financial difficulties. (iv) Write-off policy The Group writes off a financial asset when there is information indicating that the counterparty is in severe financial difficulty and there is no realistic prospect of recovery, for example, when the counterparty has been placed under liquidation or has entered into bankruptcy proceedings, or in the case of trade receivables, when the amounts are over one year past due, whichever occurs sooner. Financial assets written off may still be subject to enforcement activities under the Group’s recovery procedures, taking into account legal advice where appropriate. A write-off constitutes a derecognition event. Any subsequent recoveries are recognized in profit or loss. (v) Measurement and recognition of ECL The measurement of ECL is a function of the probability of default, loss given default (i.e. the magnitude of the loss if there is a default) and the exposure to default. The assessment of the probability of default and loss given default is based on historical data adjusted by forward-looking information. Estimation of ECL reflects an unbiased and probability-weighted amount that is determined with the respective risks of default representing the weights. Generally, the ECL is the difference between all contractual cash flows that are due to the Group in accordance with the contract and the cash flows that the Group expects to receive, discounted at the effective interest rate determined at initial recognition. Where ECL is measured on a collective basis or for cases where evidence at the individual instrument level may not yet be available, the financial instruments are grouped on the following basis: ● Nature of financial instruments; ● Past-due status; ● Nature, size and industry of debtors; and ● External credit ratings where available. The groups are regularly reviewed by management to ensure the constituents of each group continue to share similar credit risk characteristics. Interest income is calculated based on the gross carrying amount of the financial asset unless the financial asset is credit impaired, in which case interest income is calculated based on amortized cost of the financial asset. (c) Recognition and derecognition Regular way purchases and sales of financial assets are recognized on the trade date – the date on which the Group commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all risks and rewards of ownership. On disposal of a debt instrument, the difference between the carrying amount and the sale proceeds is recognized in profit or loss. Any amount previously recognized in other comprehensive income relating to that asset is reclassified to profit or loss. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued) 2.10 Financial Liabilities Borrowings are presented as current liabilities unless the Group has an unconditional right to defer settlement for at least 12 months after the reporting date, in which case they are presented as non-current liabilities. Borrowings are initially recognized at fair values (net of transaction costs) and subsequently carried at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption value is recognized in profit or loss over the period of the borrowings using the effective interest method. Trade and other payables represent liabilities for goods and services provided to the Group prior to the end of the financial year which are unpaid. They are classified as current liabilities if payment is due within one year or less (or in the normal operating cycle of the business if longer). Otherwise, they are presented as non-current liabilities. Trade and other payables are initially recognized at fair value, and subsequently carried at amortized cost using the effective interest method. (a) Derecognition A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the statement of profit or loss. (b) Offsetting of financial instruments Financial assets and financial liabilities are offset and the net amount is reported in the statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously. 2.11 Leases When the Group is the lessee At the inception of the contract, the Group assesses if the contract contains a lease. A contract 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. Reassessment is only required when the terms and conditions of the contract are changed. Right-of-use assets The Group recognizes a right-of-use asset and lease liability at the date at which the underlying asset is available for use. Right-of-use assets are measured at cost which comprises the initial measurement of lease liabilities adjusted for any lease payments made at or before the commencement date and lease incentive received. Any initial direct costs that would not have been incurred if the lease had not been obtained are added to the carrying amount of the right-of-use assets. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. Right-of-use assets are presented within “Property, plant and equipment”. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued) 2.11 Leases (continued) Lease liabilities The initial measurement of a lease liability is measured at the present value of the lease payments discounted using the implicit rate in the lease, if the rate can be readily determined. If that rate cannot be readily determined, the Group shall use its incremental borrowing rate. Lease payments include the following: ● Fixed payments (including in-substance fixed payments), less any lease incentives receivable; ● Variable lease payment that is based on an index or rate, initially measured using the index or rate as at the commencement date; ● Amount expected to be payable under residual value guarantees; ● The exercise price of a purchase option if it is reasonably certain the option will be exercised; and ● Payment of penalties for terminating the lease, if the lease term reflects the Group exercising that option. For a contract that contains both lease and non-lease components, the Group allocates the consideration to each lease component on the basis of the relative stand-alone price of the lease and non-lease components. The Group has elected to not separate lease and non-lease components for property leases and accounts for these as one single lease component. Lease liability is measured at amortized cost using the effective interest method. Lease liability shall be remeasured when: ● There is a change in future lease payments arising from changes in an index or rate; ● There is a change in the Group’s assessment of whether it will exercise an extension option; or ● There is modification in the scope or the consideration of the lease that was not part of the original term. Lease liability is remeasured with a corresponding adjustment to the right-of-use assets, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero. The Group presents lease liabilities as a separate line item on the statement of financial position. Short-term and low-value leases The Group has elected to not recognize right-of-use assets and lease liabilities for short-term leases that have lease terms of 12 months or less and leases of low value. Payments relating to these leases are expensed to profit or loss on a straight-line basis over the lease term. Variable lease payments Variable lease payments that are not based on an index or a rate are not included as part of the measurement and initial recognition of the lease liability. The Group shall recognize those lease payments in profit or loss in the periods that triggered those lease payments. Lease modifications The Group accounts for a lease modification as a separate lease if: ● The modification increases the scope of the lease by adding the right to use one or more underlying assets; and ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued) 2.11 Leases (continued) ● The consideration for the leases increases by an amount commensurate with the stand-alone price for the increase in scope and any appropriate adjustments to that stand-alone price to reflect the circumstances of the particular contract. For a lease modification that is not accounted for as a separate lease, the Group remeasures the lease liability based on the lease term of the modified lease by discounting the revised lease payments using a revised discount rate at the effective date of the modification. The Group accounts for the remeasurement of lease liabilities by making corresponding adjustments to the relevant right-of-use asset. When the modified contract contains a lease component and one or more additional lease or non-lease components, the Group allocates the consideration in the modified contract to each lease component on the basis of the relative stand-alone price of the lease component and the aggregate stand-alone price of the non-lease components. When the Group is the lessor Classification and measurement of leases Leases for which the Group is a lessor are classified as finance or operating leases. Whenever the terms of the lease transfer substantially all the risks and rewards incidental to ownership of an underlying asset to the lessee, the contract is classified as a finance lease. All other leases are classified as operating leases. Amounts due from lessees under finance leases are recognized as receivables at commencement date at amounts equal to net investments in the leases, measured using the interest rate implicit in the respective leases. Initial direct costs are included in the initial measurement of the net investments in the leases. Interest income is allocated to accounting periods so as to reflect a constant periodic rate of return on the Group’s net investment outstanding in respect of the leases. Rental income from operating leases is recognized in profit or loss on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset, and such costs are recognized as an expense on a straight-

Critical accounting estimates,

Critical accounting estimates, assumptions and judgements	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Critical accounting estimates, assumptions and judgements	3. Critical accounting estimates, assumptions and judgements Estimates, assumptions and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical judgements in applying the entity’s accounting policies (a) Determination of functional currency In determining the functional currency of the Group, judgment is used by the management to determine the currency of the primary economic environment in which the Group operates. Consideration factors include the currency that mainly influences sales prices of goods and services and the currency of the country whose competitive forces and regulations mainly determines the sales prices of its goods and services. (b) Determination of lease term of contracts with extension options The Group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is reasonably certain not to be exercised. The Group has several lease contracts that include extension options. The Group applies judgement in evaluating whether it is reasonably certain whether or not to exercise the option to extend the lease. That is, it considers all relevant factors that create an economic incentive for it to exercise the extension. After the commencement date, the Group reassesses the lease term to consider whether there is a significant event or change in circumstances that is within its control and affects its ability to exercise or not to exercise the option to extend (e.g. construction of significant leasehold improvements or significant customization to the leased asset). The Group includes the extension option in the lease term for leases of leasehold buildings because of the leasehold improvements made and the significant costs that would arise to replace the assets. The extension options for leases of motor vehicles are not included as part of the lease term because the Group typically leases motor vehicles for not more than five years and, hence, will not exercise the extension options. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 3. Critical accounting estimates, assumptions and judgements (continued) Critical accounting estimates and assumptions (a) Useful lives of plant and equipment The useful life of an item of property, plant and equipment is estimated at the time the asset is acquired and is based on historical experience with similar assets and takes into account anticipated technological or other changes. If changes occur more rapidly than anticipated or the asset experiences an unexpected level of wear and tear, the useful life will be adjusted accordingly. The carrying amount of the Group’s plant and equipment as at June 30, 2024 was US$ 21,043,668 (2023: US$ 21,786,365 ). (b) Inventory valuation method Inventory write-down is made based on the current market conditions, historical experience and selling goods of a similar nature. It could change significantly as a result of changes in market conditions. A review is made periodically for excess inventories, obsolescence and declines in net realizable value and an allowance is recorded against the inventory balances for any such declines. The realizable value represents the best estimate of the recoverable amount and is based on the most reliable evidence available and inherently involves estimates regarding the future expected realizable value. The carrying amount of the Group’s inventories as at June 30, 2024 was US$ 78,682 (2023: US$ 64,184 ). (c) Provision for expected credit losses of trade receivables The Group uses a provision matrix to calculate ECLs for trade receivables. The provision rates are based on days past due for groupings of various customer segments that have similar loss patterns. The provision matrix is initially based on the Group’s historical observed default rates. The Group will calibrate the matrix to adjust historical credit loss experience with forward-looking information. At every reporting date, historical default rates are updated and changes in the forward-looking estimates are analysed. The assessment of the correlation between historical observed default rates, forecasted economic conditions and ECLs is a significant estimate. The amount of ECLs is sensitive to changes in circumstances and of forecasted economic conditions. The Group’s historical credit loss experience and forecast of economic conditions may also not be representative of customers’ actual default in the future. The carrying amount of the Group’s trade receivables as at June 30, 2024 was US$ 454,398 (2023: US$ 461,497 ). (d) Impairment of non-financial assets The impairment testing of non-financial assets requires assumptions about the future cash flows projections as well as about the discount rate to be applied. The assumptions used to arrive at the cash flow projections are dependent on the future market shares, the market trend and the profitability of the Group’s products. Impairment testing of non-financial assets requires estimates about the extent and probability of the occurrence of future events. As far as possible, estimates are derived from past experience taking into account current market conditions and the stage of technological advancement. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 3. Critical accounting estimates, assumptions and judgements (continued) Critical accounting estimates and assumptions (continued) (e) Capitalization of intangible assets The costs of internally generated intangible assets are capitalized in accordance with the accounting policy in Note 2.6 to the financial statements. Initial capitalization of costs is based on management’s judgement that technological and economic feasibility is confirmed, usually when a development project has reached a defined milestone according to an established project management model. In determining the amounts to be capitalized, management makes assumptions regarding the expected future cash generation of the project, discount rates to be applied and the expected period of benefits. The carrying amount of the intangible assets at the reporting date is US$ 2,475,974 (2023: US$ 2,381,465 ). (f) Forward Purchase Agreement On July 27, 2023, the Company, ESGL entered into an agreement (“Forward Purchase Agreement”) with Vellar Opportunities Fund Master, Ltd. (“Vellar”) for an OTC Equity Prepaid Forward Transaction. On the same date as the execution of the Forward Purchase Agreement, Vellar assigned and novated 50 % of its rights and obligations under the Forward Purchase Agreement to ACM ARRT K LLC (“ARRT”, together with Vellar, the “Sellers”). In aggregate, Vellar purchased 931,915 shares, and ARRT 500,000 shares of the Company’s Class A common stock (the “Recycled Shares”). In connection with these purchases, the Sellers revoked any redemption elections. The purchases were recognized as a current asset in the financial statements as Prepaid Forward Purchase Agreement (“Prepaid FPA”), at fair value at the time of the purchase transaction. For the financial year ended December 31, 2023, the fair value of the Prepaid FPA was assessed using a Monte Carlo simulation model to be US$ 969 and accordingly, an adjustment to the carrying amount of the Prepaid FPA was made. Termination of Forward Purchase Agreement On or about December 4, 2023, the Company and ARRT mutually agreed to terminate the Forward Purchase Agreement. Subsequently, the Company received a termination notice from Vellar dated March 14, 2024, notifying the Company that the Valuation Date with Vellar shall be deemed to be March 15, 2024. Upon the Valuation Date, the obligations of Vellar and the Company under the Forward Purchase Agreement shall terminate. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023

Revenue

Revenue	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Revenue	4. Revenue Revenue classified by type of good or service is as follows : Schedule of revenue classified by type of good or service 2024 2023 Unaudited For the Period Ended June 30, 2024 2023 US$ US$ Revenue from: - Sales of circular products 800,129 1,313,953 - Waste disposal services 2,687,750 2,080,360 Revenue 3,487,879 3,394,313 The revenue from sales of goods and other service income is recognized based on a point in time.

Other income

Other income	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Other income	5. Other income Schedule of other income 2024 2023 Unaudited For the Periods Ended June 30, 2024 2023 US$ US$ Foreign exchange gain 264,158 65,015 Interest income 3 12,002 Gain from disposal of motor vehicle - 2,130 Government grants 18,052 33,511 Grant from AEPW 1 - 40,320 Warehousing and logistic services - 36,357 Other income 282,213 189,335 1 The Alliance to End Plastic Waste (“AEPW”) is an industry-founded and funded non-governmental and non-profit organization based in Singapore. Founding members include BASF, Chevron Phillips Chemical, ExxonMobil, Dow Chemical, Mitsubishi Chemical Holdings, Proctor & Gamble and Shell

Other operating expenses

Other operating expenses	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Other operating expenses	6. Other operating expenses Schedule of other operating expenses Unaudited For the Periods Ended June 30, 2024 2023 US$ US$ Foreign exchange loss Foreign worker levy 82,944 78,335 Impairment loss on receivables Insurance 189,192 38,647 Professional fees 285,343 291,303 Property tax 54,293 54,630 Rental and storage 211,561 214,175 Utilities 36,889 92,045 Upkeep, repair and maintenance 58,165 53,392 Chemical and incineration fees 189,545 70,378 Bank service charges 3,528 45,878 Listing fees and expenses 75,641 - Others 25,172 52,743 Other operating expenses 1,212,273 991,526 ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023

Employee benefits expense

Employee benefits expense	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Employee benefits expense	7. Employee benefits expense Schedule of employee benefits expense 2024 2023 Unaudited For the Periods Ended June 30, 2024 2023 US$ US$ Salaries, wages and bonuses 524,521 472,611 Directors’ remuneration 373,093 110,651 Directors’ fees 64,002 - Employer’s contribution to defined contribution plans including Central Provident Fund 60,679 53,577 Other short term benefit 27,602 2,221 Employee benefits expense 1,049,897 639,060

Finance expense

Finance expense	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Finance expense	8. Finance expense Schedule of finance expense Unaudited For the Periods Ended June 30 2024 2023 US$ US$ Interest expenses: - Lease liabilities 26,129 28,492 - Borrowings 120,999 130,420 Interest expenses 147,128 158,912

Income tax expense

Income tax expense	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Income tax expense	9. Income tax expense Schedule of tax expense attributable to loss Unaudited For the Periods Ended June 30 2024 2023 US$ US$ Tax expense attributable to loss is made up of: - Current income tax 146,480 - - Movements in deferred tax liabilities 2,000 39,000 Tax expense attributable to loss 148,480 39,000 The tax on profit or loss before income tax differs from the theoretical amount that would arise using the Singapore standard rate of income tax expense as follows : Schedule of income tax rates to profit or loss before income tax expense Unaudited For the Periods Ended June 30, 2024 2023 US$ US$ Loss before income tax (322,944 ) (590,254 ) Tax calculated at tax rate of 17 17 (54,900 ) (100,343 ) Effects of: - Expenses not deductible for tax purposes 178,809 5,331 - Income not subject to tax (43,011 ) (21,754 ) - Temporary difference 67,582 155,766 Income tax expense 148,480 39,000 ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023

Property, plant and equipment

Property, plant and equipment	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Property, plant and equipment	10. Property, plant and equipment Schedule of property, plant and equipment Leasehold land and buildings Plant and equipment Machineries Renovation Motor vehicles Furniture and fittings Total Unaudited Leasehold land and buildings Plant and equipment Machineries Renovation Motor vehicles Furniture and fittings Total US$ US$ US$ US$ US$ US$ US$ 2024 Beginning of financial period Cost - 4,960,307 1,213,687 490,239 694,591 131,973 7,490,797 Valuation 19,264,346 - - - - - 19,264,346 Beginning of financial period 19,264,346 4,960,307 1,213,687 490,239 694,591 131,973 26,755,143 Additions - 38,570 - - - 127 38,697 End of financial period 19,264,346 4,998,877 1,213,687 490,239 694,591 132,100 26,793,840 Accumulated depreciation Beginning of financial year 732,355 2,103,927 974,802 487,530 543,149 127,015 4,968,778 Depreciation charge 459,252 249,964 48,935 301 22,187 755 781,394 End of financial period 1,191,607 2,353,891 1,023,737 487,831 565,336 127,770 5,750,172 Net book value End of financial period 18,072,739 2,644,986 189,950 2,408 129,255 4,330 21,043,668 ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 10. Property, plant and equipment (continued) Leasehold land and buildings Plant and equipment Machineries Renovation Motor vehicles Furniture and fittings Total US$ US$ US$ US$ US$ US$ US$ 2023 Beginning of financial year Cost - 4,385,903 1,213,687 487,229 692,142 127,487 6,906,448 Valuation 19,828,888 19,828,888 Beginning of financial year 19,828,888 4,385,903 1,213,687 487,229 692,142 127,487 26,735,336 Beginning balance 19,828,888 4,385,903 1,213,687 487,229 692,142 127,487 26,735,336 Additions - 580,125 - 3,010 63,423 4,486 651,044 Disposal - (5,721 ) - - (60,974 ) - (66,695 ) Lease modifications 8,230 - - - - - 8,230 Revaluation (910,055 ) - - - - - (910,055 ) Exchange difference 337,283 - - - - - 337,283 End of financial year 19,264,346 4,960,307 1,213,687 490,239 694,591 131,973 26,755,143 Ending balance 19,264,346 4,960,307 1,213,687 490,239 694,591 131,973 26,755,143 Accumulated depreciation Beginning of financial year 523,495 1,689,985 874,266 486,040 545,593 122,674 4,242,053 Beginning balance 523,495 1,689,985 874,266 486,040 545,593 122,674 4,242,053 Depreciation charge 932,231 416,516 100,536 1,490 46,695 4,341 1,501,809 Disposal - (2,574 ) - - (49,139 ) - (51,713 ) Revaluation (723,371 ) - - - - - (723,371 ) End of financial year 732,355 2,103,927 974,802 487,530 543,149 127,015 4,968,778 Ending balance 732,355 2,103,927 974,802 487,530 543,149 127,015 4,968,778 Net book value End of financial year 18,531,991 2,856,380 238,885 2,709 151,442 4,958 21,786,365 Ending balance 18,531,991 2,856,380 238,885 2,709 151,442 4,958 21,786,365 ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023

Intangible assets

Intangible assets	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Intangible assets	11. Intangible assets Schedule of intangible assets Unaudited June 30, 2024 December 31, 2023 US$ US$ Cost Beginning of financial year 4,349,839 2,961,256 Additions - internal development 653,849 1,388,583 End of financial period and year 5,003,688 4,349,839 Accumulated amortisation Beginning of financial year 1,968,374 1,115,344 Amortization 559,340 853,030 End of financial period and year 2,527,714 1,968,374 Net book value End of financial period and year 2,475,974 2,381,465

Trade and other receivables

Trade and other receivables	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Trade and other receivables	12. Trade and other receivables Schedule of trade and other receivables Unaudited June 30, 2024 December 31, 2023 US$ US$ Trade receivables - Non-related parties 454,398 461,497 Trade receivables 454,398 461,497 Non-trade receivables - Advance payment to suppliers 329,597 329,597 - Amount due from a director - - - Deposits 169,737 46,035 - Goods and services tax recoverable - 184 - Prepayments 32,219 195,209 Non-trade receivables 531,553 571,025 Trade and other receivables 985,951 1,032,522 ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 12. Trade and other receivables (continued) Receivables that are past due but not impaired The Group had trade receivables amounting to US$ 125,668 (2023: US$ 59,757 ) that were past due at the reporting date but were not impaired. These receivables were unsecured and the analysis of their aging based on their trade date at the reporting date is as follows: Schedule of components of trade receivables aging Unaudited June 30, 2024 December 31, 2023 US$ US$ Less than 30 days 32,438 44,543 30 to 90 days 93,230 15,214 Trade and other receivables 125,668 59,757

Inventories

Inventories	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Inventories	13. Inventories Schedule of inventories Unaudited June 30, 2024 December 31, 2023 US$ US$ Raw materials 78,682 64,184 Finished goods - - Inventories 78,682 64,184

Reserve

Reserve	6 Months Ended
	Jun. 30, 2024
Reserve
Reserve	14. Reserve (a) Revaluation reserve Revaluation reserve represents increases in the fair value of leasehold land and buildings, net of tax, and decreases to the extent that such decrease relates to an increase on the same asset previously recognized in other comprehensive income. (b) Other reserve Other reserve represents member’s deemed contribution arising from reorganization. (c) Exchange reserve The exchange reserve represents the exchange differences relating to the translation of the Group’s leasehold land and building from the revaluation. The exchange differences are recognized directly in other comprehensive income and accumulated in the exchange reserve. Such exchange differences accumulated in the exchange reserve are reclassified to the consolidated income statement on the disposal of the leasehold land and building. (d) Share premium reserve The share premium reserve represents the excess amounts paid by shareholders above the par value of the shares issued. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023

Leases _ The Group as a lessee

Leases – The Group as a lessee	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Leases – The Group as a lessee	15. Leases – The Group as a lessee Nature of the Group’s leasing activities The Group has lease contracts for land, buildings, machineries and equipment. The Group’s obligations under these leases are secured by the lessor’s title to the leased assets. The Group is restricted from assigning and subleasing the leased assets. The Group regularly enters into short-term leases of 12 months or less The Group applies the ‘short-term lease’ recognition exemptions for these leases. (a) Carrying amounts ROU assets classified within property, plant and equipment Schedule of ROU assets classified within property, plant and equipment Unaudited June 30, 2024 December 31, 2023 US$ US$ Carrying amounts Leasehold land and buildings 1,894,746 1,999,304 Plant and equipment - 270 Motor vehicles 110,162 130,642 Carrying amounts ROU assets 2,004,908 2,130,216 (b) Depreciation charge during the financial year Schedule of depreciation charge Unaudited Periods ended June 30, 2024 2023 US$ US$ Leasehold land and buildings 104,559 104,302 Plant and equipment 270 3,941 Motor vehicles 20,479 20,001 Depreciation charge 125,308 128,244 Interest expense Schedule of interest expense Unaudited Periods ended June 30 2024 2023 US$ US$ Interest expense on lease liabilities 26,129 28,492 ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023

Trade and other payables

Trade and other payables	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Trade and other payables	16. Trade and other payables Schedule of trade and other payables Unaudited June 30, 2024 December 31, 2023 US$ US$ Trade payables - Non-related parties 331,541 528,865 Trade payables 331,541 528,865 Other payables - Amount due to shareholders 331,248 189,595 - Contract liabilities 1,133,784 2,077,358 - Amount due to directors 1,127,472 910,541 - Deposit from customers - - - Accruals and other payables 2,543,992 2,837,205 - Goods and services tax payable 22,596 6,340 - Withholding tax 12,845 10,655 Other payables 5,171,937 6,031,694 Trade and other payables 5,503,478 6,560,559

Borrowings

Borrowings	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Borrowings	17. Borrowings Schedule of borrowings term loan Unaudited June 30, 2024 December 31, 2023 US$ US$ Term loan I (i) 157,980 201,945 Term loan IV (iii) 238,778 378,323 Term loan V (iv) 276,040 426,589 Term loan VI (v) 713,103 924,276 Term loan VII (vi) 1,765,182 2,014,258 Trade receivables financing 71,074 81,231 Revolving credit 1,450,129 1,751,857 Total borrowings 4,672,286 5,778,479 Details of the repayment schedule in respect of the interest-bearing borrowings are as follows : Schedule of respect of the interest-bearing borrowings trade and other payables Unaudited June 30, 2024 December 31, 2023 US$ US$ Bank borrowings repayable : Within one year or on demand 4,672,286 5,666,160 Within a period of more than one year but not exceeding two years - 112,319 Total Bank borrowings repayable 4,672,286 5,778,479 ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 17. Borrowings (continued) (i) Term loan I was obtained for refinancing the outstanding loan amount in relation to the leasehold land and building of the Group. This loan is repayable by monthly instalments over a 120 months period commencing 2015. The interest rates charged were between 2.30 % to 1.30 % per annum below the bank’s commercial rate 2 for the 1st to 3rd year of the loan and thereafter at the bank’s Commercial Rate 2 (“CR2”) of 4.68 % to 5.68 (ii) Term loan II was obtained to finance the construction of the proposed erection of a single user 1-story factory with part 3-story ancillary. This loan is repayable by monthly instalments over a 7 year period commencing from 2016. The interest rates charged were between 2.65 % to 3.45 % per annum below the bank’s prevailing Enterprise Financing Rate for the 1st to 3rd year of the loan and thereafter at Singapore Interbank Offered Rate (“SIBOR”) plus 3 (iii) Term loan IV was obtained for working capital purposes. This loan is repayable by monthly instalments over a 5 year period commencing from year 2021. The interest rates charged are 2.00 (iv) Term loan V was obtained for working capital purposes. This loan is repayable by monthly instalments over a 5 year period commencing from year 2021. The interest rates charged are 2 (v) Term loan VI was obtained for purchasing of machineries for core business operations. This loan is repayable by monthly instalments over a 5 year period commencing from year 2021. The interest rates charged are 2.50 (vi) Term loan VII was obtained as a replacement for Term Loan II and also for working capital purposes. This loan is repayable by monthly instalments over a 3 year period commencing year 2023. The interest rates charged are 2.0 (vii) Revolving credit is obtained for working capital purposes. These loans are repayable 1 to 6 months from the date of each drawdown. The interest rates charged are 2.00 % per annum above the Bank’s Cost of Funds or 2.00 During the current financial year, the Group entered into a trade receivables financing agreement with one of its lenders. The arrangement will provide immediate payment of up to 90 % of the receivables upon presentation of relevant documents by the Group. The remaining 10 % will be paid upon settlement of the receivables by the customer. This arrangement has recourse and the Group is liable for any unpaid receivables Security granted The Group’s borrowings are secured by: (a) A legal mortgage on the Group’s leasehold land and buildings with net book value of US$ 16,177,993 (2023: US$ 16,532,686) (Note 10); (b) Several guarantees from a director and a former director of the Group in their personal capacities. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023

Deferred tax

Deferred tax	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Deferred tax	18. Deferred tax Schedule of deferred tax assets and liabilities Unaudited June 30, 2024 December 31, 2023 US$ US$ Deferred tax assets recognized - - Deferred tax liabilities recognized 298,000 296,000 Net deferred tax liabilities 298,000 296,000 The movement in deferred tax liabilities (prior to offsetting of balances) during the financial year is as follows: Schedule of deferred tax liabilities Unaudited June 30, 2024 December 31, 2023 US$ US$ Balance as at beginning of financial year 296,000 163,000 Movements in deferred tax liabilities 2,000 133,000 Balance as at end of financial year 298,000 296,000

Share capital

Share capital	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Share capital	19. Share capital Schedule of share capital June 30, 2024 December 31, 2023 No. of ordinary shares 22,683,039 12,683,039 ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023

Group information

Group information	6 Months Ended
	Jun. 30, 2024
Group information	20. Group information Subsidiaries The consolidated financial statements of the Group include : Schedule of consolidated financial statements Place of incorporation Effective equity held by the Name of subsidiary Principal activities and business Group 2024 2023 % % Held by the Company Environmental Solutions Group Holdings Limited Investment holding company Cayman Island 100 100 Held by Subsidiary Environmental Solutions Asia Holdings Limited Investment holding company British Virgin Islands 100 100 Environmental Solutions (Asia) Pte Ltd Waste management and recycling of industrial wastes Singapore 100 100

Basis of preparation (Policies)

Basis of preparation (Policies)	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Basis of Consolidation	2.2 Basis of Consolidation The financial statements are presented in United States Dollars (“US$”), which is the Group’s functional currency. All financial information presented in United States Dollars has been rounded to the nearest dollar, unless otherwise indicated. The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as at June 30, 2024 and 2023. A subsidiary is an entity (including a structured entity), directly or indirectly, controlled by the Company. Control is achieved when the Company 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 (i.e., existing rights that give the Company the current ability to direct the relevant activities of the investee). When the Company has, directly or indirectly, less than a majority of the voting or similar rights of an investee, the Company considers all relevant facts and circumstances in assessing whether it has power over an investee, including:- ● 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; and ● The ability to use its power over the investee to affect its returns. The financial statements of subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. The results of subsidiaries are consolidated from the date on which the Company obtains control, and continue to be consolidated until the date that such control ceases. Generally, there is a presumption that a majority of voting rights results in control. To support this presumption and when the Company has less than a majority of the voting or similar rights of an investee, the Company considers all relevant facts and circumstances in assessing whether it has power over an investee, including: ● The contractual arrangement(s) with the other vote holders of the investee; ● Rights arising from other contractual arrangements; ● The Company’s voting rights and potential voting rights. The Company assesses whether 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 Company obtains control over the subsidiary and ceases when the Company loses control of the subsidiary. Assets, liabilities, income, and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the Company gains control until the date the Company 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 of the Company 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 intra-group 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. If the Company loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non-controlling interest and other components of equity, while any resultant gain or loss is recognized in profit or loss. Any investment retained is recognized at fair value. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued)
Revenue recognition	2.3 Revenue recognition Revenue is measured based on the 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. Revenue is recognized when the Group satisfies a performance obligation by transferring a promised good or service to the customer, which is when the customer obtains control of the goods or services. A performance obligation may be satisfied at a point in time or over time. The amount of revenue recognized is the amount allocated to the satisfied performance obligation. Revenue from contracts with customers (a) Rendering of services Revenue from rendering of services is recognized when the entity satisfies the performance obligation at a point in time, generally when the significant acts have been completed and when transfer of control occurs, or for services that are not significant, transactions revenue is recognized as the services are provided. The Group’s primary service consists of collecting and disposing of industrial wastes for its customers. (b) Sale of goods Revenue from sale of goods is recognized at a point in time when the performance obligation is satisfied by transferring a promised good to the customer. Control of the goods is transferred to the customer, generally on delivery of the goods (in this respect, incoterms are considered). Other revenue Interest income Interest income is recognized using the effective interest method. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset, or where appropriate, a shorter period. Contract assets The contract assets are for the Group’s rights to consideration for work completed but not billed at the reporting date on its contracts; costs incurred to obtain or fulfil a contract with a customer; and any impairment losses recognized in the reporting year. The contract assets are transferred to the receivables when the right to payment becomes unconditional.
Government grants	2.4 Government grants Grants from the government are recognized as a receivable at their fair value when there is reasonable assurance that the grant will be received and the Group will comply with all the attached conditions. Government grants receivable are recognized as income over the periods necessary to match them with the related costs which they are intended to compensate, on a systematic basis. Government grants relating to expenses are shown separately as other income. Government grants relating to non-monetary assets are deducted against the carrying amount of the non-monetary assets. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued)
Property, plant and equipment	2.5 Property, plant and equipment (a) Measurement (i) Property, plant and equipment Property, plant and equipment other than leasehold land and buildings are initially recognized at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses. Leasehold land and buildings are measured at fair value less accumulated depreciation and impairment losses recognized after the date of the revaluation. Valuations are performed frequently to ensure that the fair value of a revalued asset does not differ materially from its carrying amount. Any revaluation surplus is credited to the property revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognized in the Statement of Profit or Loss and Other Comprehensive Income, in which case the increase is recognized in the statement of profit or loss. A revaluation deficit is recognized in the statement of profit or loss, except to the extent that it offsets an existing surplus on the same asset recognized in the asset revaluation reserve. An annual transfer from the property revaluation reserve to accumulated losses is made for the difference between depreciation based on the revalued carrying amount of the assets and depreciation based on the assets original cost. Upon disposal, any revaluation reserve relating to that particular asset being sold is transferred to retained profits. (ii) Components of costs The cost of an item of property, plant and equipment initially recognized includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. (b) Depreciation Depreciation is calculated using the straight-line method to allocate depreciable amounts over the estimated useful lives as follows: Schedule of property, plant and equipment depreciation, estimated useful lives Useful lives Leasehold land and buildings Over the lease term period ranging from 2 to 30 years Plant and equipment 3 to 5 years Machineries 2 to 10 years Renovation 5 years Motor vehicles 10 years Furniture and fittings 5 years The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each reporting date. The effects of any revision are recognized in profit or loss when the changes arise. Fully depreciated property, plant and equipment are retained in the financial statements until they are no longer in use. (c) Subsequent expenditure Subsequent expenditure relating to property, plant and equipment that has already been recognized is added to the carrying amount of the asset only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. All other repair and maintenance expenses are recognized in profit or loss when incurred. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued) 2.5 Property, plant and equipment (continued) (d) Disposal On disposal of an item of property, plant and equipment, the difference between the disposal proceeds and its carrying amount is recognized in profit or loss.
Intangible assets	2.6 Intangible assets Intangible assets acquired separately are measured initially at cost. Following initial acquisition, intangible assets are carried at cost less any accumulated amortization and any accumulated impairment losses. Internally generated intangible assets, excluding capitalized development costs, are not capitalized and expenditure is reflected in profit or loss in the year in which the expenditure is incurred. Intangible assets with finite useful lives are amortized over the estimated useful lives and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method are reviewed at least at each financial year-end. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for by changing the amortization period or method, as appropriate, and are treated as changes in accounting estimates. Amortization is calculated using the straight-line method to allocate depreciable amounts over the estimated useful lives of the assets. The estimated useful lives are as follows: Schedule of intangible assets depreciable, estimated useful lives Useful lives Software 3 years
Borrowing costs	2.7 Borrowing costs Borrowing costs are recognized in profit or loss using the effective interest method.
Impairment of non-financial assets	2.8 Impairment of non-financial assets Intangible assets, property, plant and equipment and right-of-use assets are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired or when annual impairment testing for an asset is required. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the cash-generating units (“CGU”) to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognized as an impairment loss in profit or loss. An impairment loss for an asset is reversed if, and only if, there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. The carrying amount of this asset is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of accumulated depreciation) had no impairment loss been recognized for the asset in prior years. A reversal of impairment loss for an asset is credited to profit or loss in the period in which it arises. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued)
Financial assets	2.9 Financial assets (a) Classification and measurement The Group classifies its financial assets at amortized cost. The classification of debt instruments depends on the Group’s business model for managing the financial assets as well as the contractual terms of the cash flows of the financial assets. Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest. The Group reclassifies debt instruments when and only when its business model for managing those assets changes. At initial recognition At initial recognition, the Group measures a financial asset at its fair value plus, in the case of the financial assets not a fair value through profit or loss, transactions costs that are directly attributable to the acquisition of the financial asset. At subsequent measurement Debt instruments are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cost. A gain or loss on a debt instrument that is subsequently measured at amortized cost and is not part of a hedging relationship is recognized in profit or loss when the asset is derecognized or impaired. Interest income from these financial assets is included in interest income using the effective interest rate method. (b) Impairment of financial assets The Group recognizes a loss allowance for expected credit loss (“ECL”) on financial assets which are subject to impairment under IFRS 9 (including trade and other receivables). The amount of ECL is updated at each reporting date to reflect changes in credit risk since initial recognition. Lifetime ECL represents the ECL that will result from all possible default events over the expected life of the relevant instrument. In contrast, 12-month ECL (“12m ECL”) represents the portion of lifetime ECL that is expected to result from default events that are possible within 12 months after the reporting date. Assessments are done based on the Group’s historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current conditions at the reporting date as well as the forecast of future conditions. The Group always recognizes lifetime ECL for trade and other receivables. The ECL on these assets are assessed individually for debtors with significant balances and/or collectively using a provision matrix with appropriate groupings. For all other instruments, the Group measures the loss allowance as equal to 12m ECL, unless there has been a significant increase in credit risk since initial recognition for which the Group recognizes lifetime ECL. The assessment of whether lifetime ECL should be recognized is based on significant increases in the likelihood or risk of a default occurring since initial recognition. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued) 2.9 Financial assets (b) Impairment of financial assets (continued) (i) Significant increase in credit risk In assessing whether the credit risk has increased significantly since initial recognition, the Group compares the risk of a default occurring on the financial instrument as at the reporting date with the risk of a default occurring on the financial instrument as at the date of initial recognition. In making this assessment, the Group considers both quantitative and qualitative information that is reasonable and supportable, including historical experience and forward-looking information that is available without undue cost or effort. In particular, the following information is taken into account when assessing whether credit risk has increased significantly: ● An actual or expected significant deterioration in the financial instrument’s external (if available) or internal credit rating; ● Significant deterioration in external market indicators of credit risk, e.g. a significant increase in the credit spread, or the credit default swap prices for the debtor; ● Existing or forecast adverse changes in business, financial or economic conditions that are expected to cause a significant decrease in the debtor’s ability to meet its debt obligations; ● An actual or expected significant deterioration in the operating results of the debtor; ● An actual or expected significant adverse change in the regulatory, economic, or technological environment of the debtor that results in a significant decrease in the debtor’s ability to meet its debt obligations. Irrespective of the outcome of the above assessment, the Group presumes that the credit risk has increased significantly since initial recognition when contractual payments are more than 30 days past due, unless the Group has reasonable and supportable information that demonstrates otherwise. The Group regularly monitors the effectiveness of the criteria used to identify whether there has been a significant increase in credit risk and revises them as appropriate to ensure that the criteria are capable of identifying significant increase in credit risk before the amount becomes past due. (ii) Definition of default For internal credit risk management, the Group considers an event of default occurs when information developed internally or obtained from external sources indicates that the debtor is unlikely to pay its creditors, including the Group, in full (without taking into account any collateral held by the Group). Irrespective of the above, the Group considers that default has occurred when a financial asset is more than 90 days past due unless the Group has reasonable and supportable information to demonstrate that a more lagging default criterion is more appropriate. (iii) Credit-impaired financial assets A financial asset is credit-impaired when one or more events of default that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. Evidence that a financial asset is credit-impaired includes observable data about the following events: (a) Significant financial difficulty of the issuer or the borrower; (b) A breach of contract, such as a default or past due event; (c) The lender(s) of the borrower, for economic or contractual reasons relating to the borrower’s financial difficulty, having granted to the borrower a concession that the lender(s) would not otherwise consider. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued) 2.9 Financial assets (b) Impairment of financial assets (continued) (iii) Credit-impaired financial assets (continued) (d) It is becoming probable that the borrower will enter bankruptcy or other financial reorganization; or (e) The disappearance of an active market for that financial asset because of financial difficulties. (iv) Write-off policy The Group writes off a financial asset when there is information indicating that the counterparty is in severe financial difficulty and there is no realistic prospect of recovery, for example, when the counterparty has been placed under liquidation or has entered into bankruptcy proceedings, or in the case of trade receivables, when the amounts are over one year past due, whichever occurs sooner. Financial assets written off may still be subject to enforcement activities under the Group’s recovery procedures, taking into account legal advice where appropriate. A write-off constitutes a derecognition event. Any subsequent recoveries are recognized in profit or loss. (v) Measurement and recognition of ECL The measurement of ECL is a function of the probability of default, loss given default (i.e. the magnitude of the loss if there is a default) and the exposure to default. The assessment of the probability of default and loss given default is based on historical data adjusted by forward-looking information. Estimation of ECL reflects an unbiased and probability-weighted amount that is determined with the respective risks of default representing the weights. Generally, the ECL is the difference between all contractual cash flows that are due to the Group in accordance with the contract and the cash flows that the Group expects to receive, discounted at the effective interest rate determined at initial recognition. Where ECL is measured on a collective basis or for cases where evidence at the individual instrument level may not yet be available, the financial instruments are grouped on the following basis: ● Nature of financial instruments; ● Past-due status; ● Nature, size and industry of debtors; and ● External credit ratings where available. The groups are regularly reviewed by management to ensure the constituents of each group continue to share similar credit risk characteristics. Interest income is calculated based on the gross carrying amount of the financial asset unless the financial asset is credit impaired, in which case interest income is calculated based on amortized cost of the financial asset. (c) Recognition and derecognition Regular way purchases and sales of financial assets are recognized on the trade date – the date on which the Group commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all risks and rewards of ownership. On disposal of a debt instrument, the difference between the carrying amount and the sale proceeds is recognized in profit or loss. Any amount previously recognized in other comprehensive income relating to that asset is reclassified to profit or loss. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued)
Financial Liabilities	2.10 Financial Liabilities Borrowings are presented as current liabilities unless the Group has an unconditional right to defer settlement for at least 12 months after the reporting date, in which case they are presented as non-current liabilities. Borrowings are initially recognized at fair values (net of transaction costs) and subsequently carried at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption value is recognized in profit or loss over the period of the borrowings using the effective interest method. Trade and other payables represent liabilities for goods and services provided to the Group prior to the end of the financial year which are unpaid. They are classified as current liabilities if payment is due within one year or less (or in the normal operating cycle of the business if longer). Otherwise, they are presented as non-current liabilities. Trade and other payables are initially recognized at fair value, and subsequently carried at amortized cost using the effective interest method. (a) Derecognition A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the statement of profit or loss. (b) Offsetting of financial instruments Financial assets and financial liabilities are offset and the net amount is reported in the statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously.
Leases	2.11 Leases When the Group is the lessee At the inception of the contract, the Group assesses if the contract contains a lease. A contract 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. Reassessment is only required when the terms and conditions of the contract are changed. Right-of-use assets The Group recognizes a right-of-use asset and lease liability at the date at which the underlying asset is available for use. Right-of-use assets are measured at cost which comprises the initial measurement of lease liabilities adjusted for any lease payments made at or before the commencement date and lease incentive received. Any initial direct costs that would not have been incurred if the lease had not been obtained are added to the carrying amount of the right-of-use assets. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. Right-of-use assets are presented within “Property, plant and equipment”. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued) 2.11 Leases (continued) Lease liabilities The initial measurement of a lease liability is measured at the present value of the lease payments discounted using the implicit rate in the lease, if the rate can be readily determined. If that rate cannot be readily determined, the Group shall use its incremental borrowing rate. Lease payments include the following: ● Fixed payments (including in-substance fixed payments), less any lease incentives receivable; ● Variable lease payment that is based on an index or rate, initially measured using the index or rate as at the commencement date; ● Amount expected to be payable under residual value guarantees; ● The exercise price of a purchase option if it is reasonably certain the option will be exercised; and ● Payment of penalties for terminating the lease, if the lease term reflects the Group exercising that option. For a contract that contains both lease and non-lease components, the Group allocates the consideration to each lease component on the basis of the relative stand-alone price of the lease and non-lease components. The Group has elected to not separate lease and non-lease components for property leases and accounts for these as one single lease component. Lease liability is measured at amortized cost using the effective interest method. Lease liability shall be remeasured when: ● There is a change in future lease payments arising from changes in an index or rate; ● There is a change in the Group’s assessment of whether it will exercise an extension option; or ● There is modification in the scope or the consideration of the lease that was not part of the original term. Lease liability is remeasured with a corresponding adjustment to the right-of-use assets, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero. The Group presents lease liabilities as a separate line item on the statement of financial position. Short-term and low-value leases The Group has elected to not recognize right-of-use assets and lease liabilities for short-term leases that have lease terms of 12 months or less and leases of low value. Payments relating to these leases are expensed to profit or loss on a straight-line basis over the lease term. Variable lease payments Variable lease payments that are not based on an index or a rate are not included as part of the measurement and initial recognition of the lease liability. The Group shall recognize those lease payments in profit or loss in the periods that triggered those lease payments. Lease modifications The Group accounts for a lease modification as a separate lease if: ● The modification increases the scope of the lease by adding the right to use one or more underlying assets; and ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued) 2.11 Leases (continued) ● The consideration for the leases increases by an amount commensurate with the stand-alone price for the increase in scope and any appropriate adjustments to that stand-alone price to reflect the circumstances of the particular contract. For a lease modification that is not accounted for as a separate lease, the Group remeasures the lease liability based on the lease term of the modified lease by discounting the revised lease payments using a revised discount rate at the effective date of the modification. The Group accounts for the remeasurement of lease liabilities by making corresponding adjustments to the relevant right-of-use asset. When the modified contract contains a lease component and one or more additional lease or non-lease components, the Group allocates the consideration in the modified contract to each lease component on the basis of the relative stand-alone price of the lease component and the aggregate stand-alone price of the non-lease components. When the Group is the lessor Classification and measurement of leases Leases for which the Group is a lessor are classified as finance or operating leases. Whenever the terms of the lease transfer substantially all the risks and rewards incidental to ownership of an underlying asset to the lessee, the contract is classified as a finance lease. All other leases are classified as operating leases. Amounts due from lessees under finance leases are recognized as receivables at commencement date at amounts equal to net investments in the leases, measured using the interest rate implicit in the respective leases. Initial direct costs are included in the initial measurement of the net investments in the leases. Interest income is allocated to accounting periods so as to reflect a constant periodic rate of return on the Group’s net investment outstanding in respect of the leases. Rental income from operating leases is recognized in profit or loss on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset, and such costs are recognized as an expense on a straight-line basis over the lease term except for investment properties measured under the fair value model. Variable lease payments for operating leases that depend on an index or a rate are estimated and included in the total lease payments to be recognized on a straight-line basis over the lease term. Variable lease payments that do not depend on an index or a rate are recognized as income when they arise. Refundable rental deposits Refundable rental deposits received are accounted for under IFRS 9 and initially measured at fair value. Adjustments to fair value at initial recognition are considered as additional lease payments from lessees. Lease modification Changes in consideration of lease contracts that were not part of the original terms and conditions are accounted for as lease modifications, including lease incentives provided through forgiveness or reduction of rentals. The Group accounts for a modification to an operating lease as a new lease from the effective date of the modification, considering any prepaid or accrued lease payments relating to the original lease as part of the lease payments for the new lease. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued)
Inventories	2.12 Inventories Inventories are stated at the lower of cost or net realizable value. Cost is calculated using the specific identification method and includes all costs of purchase and other costs incurred in bringing the inventories to their present location and condition. Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs necessary to make the sale. When necessary, allowance is provided for damaged, obsolete and slow moving items to adjust the carrying values of inventories to the lower of cost and net realizable value.
Income taxes	2.13 Income taxes Income tax represents the sum of current and deferred tax. Income tax relating to items recognized outside profit or loss is recognized outside profit or loss, either in other comprehensive income or directly in equity. Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period, taking into consideration interpretations and practices prevailing in the countries in which the Group operates. Deferred tax is provided, using the liability method, on all temporary differences at the end of the reporting period between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred tax liabilities are recognized for all taxable temporary differences, except:- ● When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit or loss nor taxable profit or loss; and ● In respect of taxable temporary differences associated with investments in subsidiaries, associates and joint ventures, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred tax assets are recognized for all deductible temporary differences, the carryforward of unused tax credits and any unused tax losses. Deferred tax assets are recognized to the extent that it is probable that taxable profits will be available against which deductible temporary differences, the carryforward of unused tax credits and unused tax losses can be utilized, except: ● When the deferred tax asset relating to the deductible temporary differences arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit or loss nor taxable profit or loss; and ● In respect of deductible temporary differences associated with investments in subsidiaries, associates and joint ventures, deferred tax assets are only recognized to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized. 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 profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are reassessed at the end of each reporting period and are recognized to the extent that it has become probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be recovered. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued) 2.13 Income Taxes Deferred tax is calculated, without discounting, at the tax rates that are expected to apply in the period when the asset is realized or the liability is settled, based on the tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax assets and liabilities are offset when they relate to income taxes levied by the same taxation authority and the Group intends to settle its current tax assets and liabilities on a net basis. Current and deferred taxes are recognized as income or expenses in profit or loss, except to the extent that the tax arises from a transaction which is recognized directly in equity. The Group accounts for investment tax credits similar to accounting for other tax credits where a deferred tax asset is recognized for unused tax credits to the extent that it is probable that future taxable profit will be available against which the unused tax credits can be utilized. 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 the amount of the obligation can be estimated reliably. Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate. If it is no longer probable that an outflow of economic resources will be required to settle the obligation, the provision is reversed. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, where appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost.
Employee benefits	2.14 Employee benefits Employee benefits are recognized as an expense, unless the cost qualifies to be capitalized as an asset. (a) Defined contribution plans Defined contribution plans are post-employment benefit plans under which the Group pays fixed contributions into separate entities such as the Central Provident Fund on a mandatory, contractual or voluntary basis. The Group has no further payment obligations once the contributions have been paid. (b) Short-term employees benefits Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognized for the amount expected to be paid if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee, and the obligation can be estimated reliably. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued)
Currency translation	2.15 Currency translation The financial statements are presented in United States Dollar (“US$”), which is the functional currency of the Group. Transactions in a currency other than the United States Dollar (“foreign currency”) are translated into the United States Dollar using the exchange rates at the dates of the transactions. Currency exchange differences resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at the closing rates at the reporting date are recognized in profit or loss. Non-monetary items measured at fair values in foreign currencies are translated using the exchange rates at the date when the fair values are determined. All foreign exchange gains and losses impacting profit or loss are presented in statement of comprehensive income within “Other operating expenses”.
Cash and cash equivalents	2.16 Cash and cash equivalents For the purpose of presentation in the statement of cash flows, cash and cash equivalents include cash on hand and deposits with financial institutions which are subject to any insignificant risk of changes in value, and have a short maturity of generally within three months when acquired.
Share capital	2.17 Share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issuance of new ordinary shares are deducted against the share capital account.
Related parties	2.18 Related parties (a) A person, or a close member of that person’s family, is related to the Company if that person : (i) Has control or joint control over the Company; (ii) Has significant influence over the Company; or (iii) Is a member of key management personnel of the Company or the Company’s parent; or (b) An entity is related to the Company if any of the following conditions applies:- (i) The entity and the Company are members of the same group; (ii) One entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of a group of which the other entity is a member); (iii) The entity and the Company are joint ventures of the same third party; (iv) One entity is a joint venture of a third entity and the other entity is an associate of the third entity; (v) The entity is a post-employment benefit plan for the benefit of employees of either the Company or an entity related to the Company; (vi) The entity is controlled or jointly controlled by a person identified in (a); (vii) A person identified in (a)(i) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity); and (viii) The entity, or any member of a group of which it is a part, provides key management personnel services to the Company or to the Company’s parent. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued) 2.18 Related parties (continued) Close members of the family of a person are those family members who may be expected to influence, or be influenced by, that person in their dealings with the entity and include: (a) That person’s children and spouse or domestic partner; (b) Children of that person’s spouse or domestic partner; and (c) Dependents of that person or that person’s spouse or domestic partner.
Fair value measurement	2.19 Fair value measurement The Group measures its properties at the end of each reporting period. 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 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, maximising the use of relevant observable inputs and minimising the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the consolidated financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:- Level 1 – based on quoted prices (unadjusted) in active markets for identical assets or liabilities Level 2 – based on valuation techniques for which the lowest level input that is significant to the fair value measurement is observable, either directly or indirectly Level 3 – based on valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable For assets and liabilities that are recognized in the consolidated financial statements on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by reassessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period. ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 2. Significant accounting policies (continued)
Application of amendments to IFRS	2.20 Application of amendments to IFRS In the preparation of the financial statements for the period ended June 30, 2024, the Group has applied the following amendments to IFRSs, for the first time, which are mandatorily effective for the annual periods beginning on or after January 1, 2024: Amendments to IFRS 16 Leases on sale and leaseback Amendments to IFRS 7 Supplier finance Amendments to IAS 1 Classification of liabilities as current or non-current Non-current liabilities with covenants The application of the amendments to IFRSs in the current year has had no material impact on the Group’s financial positions and performance for the current and prior years and/or on the disclosures set out in these financial statements.

Basis of preparation (Tables)

Basis of preparation (Tables)	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Schedule of property, plant and equipment depreciation, estimated useful lives	Depreciation is calculated using the straight-line method to allocate depreciable amounts over the estimated useful lives as follows: Schedule of property, plant and equipment depreciation, estimated useful lives Useful lives Leasehold land and buildings Over the lease term period ranging from 2 to 30 years Plant and equipment 3 to 5 years Machineries 2 to 10 years Renovation 5 years Motor vehicles 10 years Furniture and fittings 5 years
Schedule of intangible assets depreciable, estimated useful lives	Amortization is calculated using the straight-line method to allocate depreciable amounts over the estimated useful lives of the assets. The estimated useful lives are as follows: Schedule of intangible assets depreciable, estimated useful lives Useful lives Software 3 years

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Schedule of revenue classified by type of good or service	Revenue classified by type of good or service is as follows : Schedule of revenue classified by type of good or service 2024 2023 Unaudited For the Period Ended June 30, 2024 2023 US$ US$ Revenue from: - Sales of circular products 800,129 1,313,953 - Waste disposal services 2,687,750 2,080,360 Revenue 3,487,879 3,394,313

Other income (Tables)

Other income (Tables)	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Schedule of other income	Schedule of other income 2024 2023 Unaudited For the Periods Ended June 30, 2024 2023 US$ US$ Foreign exchange gain 264,158 65,015 Interest income 3 12,002 Gain from disposal of motor vehicle - 2,130 Government grants 18,052 33,511 Grant from AEPW 1 - 40,320 Warehousing and logistic services - 36,357 Other income 282,213 189,335 1 The Alliance to End Plastic Waste (“AEPW”) is an industry-founded and funded non-governmental and non-profit organization based in Singapore. Founding members include BASF, Chevron Phillips Chemical, ExxonMobil, Dow Chemical, Mitsubishi Chemical Holdings, Proctor & Gamble and Shell

Other operating expenses (Table

Other operating expenses (Tables)	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Schedule of other operating expenses	Schedule of other operating expenses Unaudited For the Periods Ended June 30, 2024 2023 US$ US$ Foreign exchange loss Foreign worker levy 82,944 78,335 Impairment loss on receivables Insurance 189,192 38,647 Professional fees 285,343 291,303 Property tax 54,293 54,630 Rental and storage 211,561 214,175 Utilities 36,889 92,045 Upkeep, repair and maintenance 58,165 53,392 Chemical and incineration fees 189,545 70,378 Bank service charges 3,528 45,878 Listing fees and expenses 75,641 - Others 25,172 52,743 Other operating expenses 1,212,273 991,526

Employee benefits expense (Tabl

Employee benefits expense (Tables)	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Schedule of employee benefits expense	Schedule of employee benefits expense 2024 2023 Unaudited For the Periods Ended June 30, 2024 2023 US$ US$ Salaries, wages and bonuses 524,521 472,611 Directors’ remuneration 373,093 110,651 Directors’ fees 64,002 - Employer’s contribution to defined contribution plans including Central Provident Fund 60,679 53,577 Other short term benefit 27,602 2,221 Employee benefits expense 1,049,897 639,060

Finance expense (Tables)

Finance expense (Tables)	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Schedule of finance expense	Schedule of finance expense Unaudited For the Periods Ended June 30 2024 2023 US$ US$ Interest expenses: - Lease liabilities 26,129 28,492 - Borrowings 120,999 130,420 Interest expenses 147,128 158,912

Income tax expense (Tables)

Income tax expense (Tables)	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Schedule of tax expense attributable to loss	Schedule of tax expense attributable to loss Unaudited For the Periods Ended June 30 2024 2023 US$ US$ Tax expense attributable to loss is made up of: - Current income tax 146,480 - - Movements in deferred tax liabilities 2,000 39,000 Tax expense attributable to loss 148,480 39,000
Schedule of income tax rates to profit or loss before income tax expense	The tax on profit or loss before income tax differs from the theoretical amount that would arise using the Singapore standard rate of income tax expense as follows : Schedule of income tax rates to profit or loss before income tax expense Unaudited For the Periods Ended June 30, 2024 2023 US$ US$ Loss before income tax (322,944 ) (590,254 ) Tax calculated at tax rate of 17 17 (54,900 ) (100,343 ) Effects of: - Expenses not deductible for tax purposes 178,809 5,331 - Income not subject to tax (43,011 ) (21,754 ) - Temporary difference 67,582 155,766 Income tax expense 148,480 39,000

Property, plant and equipment (

Property, plant and equipment (Tables)	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Schedule of property, plant and equipment	Schedule of property, plant and equipment Leasehold land and buildings Plant and equipment Machineries Renovation Motor vehicles Furniture and fittings Total Unaudited Leasehold land and buildings Plant and equipment Machineries Renovation Motor vehicles Furniture and fittings Total US$ US$ US$ US$ US$ US$ US$ 2024 Beginning of financial period Cost - 4,960,307 1,213,687 490,239 694,591 131,973 7,490,797 Valuation 19,264,346 - - - - - 19,264,346 Beginning of financial period 19,264,346 4,960,307 1,213,687 490,239 694,591 131,973 26,755,143 Additions - 38,570 - - - 127 38,697 End of financial period 19,264,346 4,998,877 1,213,687 490,239 694,591 132,100 26,793,840 Accumulated depreciation Beginning of financial year 732,355 2,103,927 974,802 487,530 543,149 127,015 4,968,778 Depreciation charge 459,252 249,964 48,935 301 22,187 755 781,394 End of financial period 1,191,607 2,353,891 1,023,737 487,831 565,336 127,770 5,750,172 Net book value End of financial period 18,072,739 2,644,986 189,950 2,408 129,255 4,330 21,043,668 ESGL Holdings Limited Notes to the Consolidated Financial Statements for Financial Periods ended June 30, 2024 and 2023 10. Property, plant and equipment (continued) Leasehold land and buildings Plant and equipment Machineries Renovation Motor vehicles Furniture and fittings Total US$ US$ US$ US$ US$ US$ US$ 2023 Beginning of financial year Cost - 4,385,903 1,213,687 487,229 692,142 127,487 6,906,448 Valuation 19,828,888 19,828,888 Beginning of financial year 19,828,888 4,385,903 1,213,687 487,229 692,142 127,487 26,735,336 Beginning balance 19,828,888 4,385,903 1,213,687 487,229 692,142 127,487 26,735,336 Additions - 580,125 - 3,010 63,423 4,486 651,044 Disposal - (5,721 ) - - (60,974 ) - (66,695 ) Lease modifications 8,230 - - - - - 8,230 Revaluation (910,055 ) - - - - - (910,055 ) Exchange difference 337,283 - - - - - 337,283 End of financial year 19,264,346 4,960,307 1,213,687 490,239 694,591 131,973 26,755,143 Ending balance 19,264,346 4,960,307 1,213,687 490,239 694,591 131,973 26,755,143 Accumulated depreciation Beginning of financial year 523,495 1,689,985 874,266 486,040 545,593 122,674 4,242,053 Beginning balance 523,495 1,689,985 874,266 486,040 545,593 122,674 4,242,053 Depreciation charge 932,231 416,516 100,536 1,490 46,695 4,341 1,501,809 Disposal - (2,574 ) - - (49,139 ) - (51,713 ) Revaluation (723,371 ) - - - - - (723,371 ) End of financial year 732,355 2,103,927 974,802 487,530 543,149 127,015 4,968,778 Ending balance 732,355 2,103,927 974,802 487,530 543,149 127,015 4,968,778 Net book value End of financial year 18,531,991 2,856,380 238,885 2,709 151,442 4,958 21,786,365 Ending balance 18,531,991 2,856,380 238,885 2,709 151,442 4,958 21,786,365

Intangible assets (Tables)

Intangible assets (Tables)	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Schedule of intangible assets	Schedule of intangible assets Unaudited June 30, 2024 December 31, 2023 US$ US$ Cost Beginning of financial year 4,349,839 2,961,256 Additions - internal development 653,849 1,388,583 End of financial period and year 5,003,688 4,349,839 Accumulated amortisation Beginning of financial year 1,968,374 1,115,344 Amortization 559,340 853,030 End of financial period and year 2,527,714 1,968,374 Net book value End of financial period and year 2,475,974 2,381,465

Trade and other receivables (Ta

Trade and other receivables (Tables)	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Schedule of trade and other receivables	Schedule of trade and other receivables Unaudited June 30, 2024 December 31, 2023 US$ US$ Trade receivables - Non-related parties 454,398 461,497 Trade receivables 454,398 461,497 Non-trade receivables - Advance payment to suppliers 329,597 329,597 - Amount due from a director - - - Deposits 169,737 46,035 - Goods and services tax recoverable - 184 - Prepayments 32,219 195,209 Non-trade receivables 531,553 571,025 Trade and other receivables 985,951 1,032,522
Schedule of components of trade receivables aging	Schedule of components of trade receivables aging Unaudited June 30, 2024 December 31, 2023 US$ US$ Less than 30 days 32,438 44,543 30 to 90 days 93,230 15,214 Trade and other receivables 125,668 59,757

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Schedule of inventories	Schedule of inventories Unaudited June 30, 2024 December 31, 2023 US$ US$ Raw materials 78,682 64,184 Finished goods - - Inventories 78,682 64,184

Leases _ The Group as a lessee

Leases – The Group as a lessee (Tables)	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Schedule of ROU assets classified within property, plant and equipment	ROU assets classified within property, plant and equipment Schedule of ROU assets classified within property, plant and equipment Unaudited June 30, 2024 December 31, 2023 US$ US$ Carrying amounts Leasehold land and buildings 1,894,746 1,999,304 Plant and equipment - 270 Motor vehicles 110,162 130,642 Carrying amounts ROU assets 2,004,908 2,130,216
Schedule of depreciation charge	(b) Depreciation charge during the financial year Schedule of depreciation charge Unaudited Periods ended June 30, 2024 2023 US$ US$ Leasehold land and buildings 104,559 104,302 Plant and equipment 270 3,941 Motor vehicles 20,479 20,001 Depreciation charge 125,308 128,244
Schedule of interest expense	Interest expense Schedule of interest expense Unaudited Periods ended June 30 2024 2023 US$ US$ Interest expense on lease liabilities 26,129 28,492

Trade and other payables (Table

Trade and other payables (Tables)	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Schedule of trade and other payables	Schedule of trade and other payables Unaudited June 30, 2024 December 31, 2023 US$ US$ Trade payables - Non-related parties 331,541 528,865 Trade payables 331,541 528,865 Other payables - Amount due to shareholders 331,248 189,595 - Contract liabilities 1,133,784 2,077,358 - Amount due to directors 1,127,472 910,541 - Deposit from customers - - - Accruals and other payables 2,543,992 2,837,205 - Goods and services tax payable 22,596 6,340 - Withholding tax 12,845 10,655 Other payables 5,171,937 6,031,694 Trade and other payables 5,503,478 6,560,559

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Schedule of borrowings term loan	Schedule of borrowings term loan Unaudited June 30, 2024 December 31, 2023 US$ US$ Term loan I (i) 157,980 201,945 Term loan IV (iii) 238,778 378,323 Term loan V (iv) 276,040 426,589 Term loan VI (v) 713,103 924,276 Term loan VII (vi) 1,765,182 2,014,258 Trade receivables financing 71,074 81,231 Revolving credit 1,450,129 1,751,857 Total borrowings 4,672,286 5,778,479 (i) Term loan I was obtained for refinancing the outstanding loan amount in relation to the leasehold land and building of the Group. This loan is repayable by monthly instalments over a 120 months period commencing 2015. The interest rates charged were between 2.30 % to 1.30 % per annum below the bank’s commercial rate 2 for the 1st to 3rd year of the loan and thereafter at the bank’s Commercial Rate 2 (“CR2”) of 4.68 % to 5.68 (ii) Term loan II was obtained to finance the construction of the proposed erection of a single user 1-story factory with part 3-story ancillary. This loan is repayable by monthly instalments over a 7 year period commencing from 2016. The interest rates charged were between 2.65 % to 3.45 % per annum below the bank’s prevailing Enterprise Financing Rate for the 1st to 3rd year of the loan and thereafter at Singapore Interbank Offered Rate (“SIBOR”) plus 3 (iii) Term loan IV was obtained for working capital purposes. This loan is repayable by monthly instalments over a 5 year period commencing from year 2021. The interest rates charged are 2.00 (iv) Term loan V was obtained for working capital purposes. This loan is repayable by monthly instalments over a 5 year period commencing from year 2021. The interest rates charged are 2 (v) Term loan VI was obtained for purchasing of machineries for core business operations. This loan is repayable by monthly instalments over a 5 year period commencing from year 2021. The interest rates charged are 2.50 (vi) Term loan VII was obtained as a replacement for Term Loan II and also for working capital purposes. This loan is repayable by monthly instalments over a 3 year period commencing year 2023. The interest rates charged are 2.0 (vii) Revolving credit is obtained for working capital purposes. These loans are repayable 1 to 6 months from the date of each drawdown. The interest rates charged are 2.00 % per annum above the Bank’s Cost of Funds or 2.00
Schedule of respect of the interest-bearing borrowings trade and other payables	Details of the repayment schedule in respect of the interest-bearing borrowings are as follows : Schedule of respect of the interest-bearing borrowings trade and other payables Unaudited June 30, 2024 December 31, 2023 US$ US$ Bank borrowings repayable : Within one year or on demand 4,672,286 5,666,160 Within a period of more than one year but not exceeding two years - 112,319 Total Bank borrowings repayable 4,672,286 5,778,479

Deferred tax (Tables)

Deferred tax (Tables)	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Schedule of deferred tax assets and liabilities	Schedule of deferred tax assets and liabilities Unaudited June 30, 2024 December 31, 2023 US$ US$ Deferred tax assets recognized - - Deferred tax liabilities recognized 298,000 296,000 Net deferred tax liabilities 298,000 296,000
Schedule of deferred tax liabilities	The movement in deferred tax liabilities (prior to offsetting of balances) during the financial year is as follows: Schedule of deferred tax liabilities Unaudited June 30, 2024 December 31, 2023 US$ US$ Balance as at beginning of financial year 296,000 163,000 Movements in deferred tax liabilities 2,000 133,000 Balance as at end of financial year 298,000 296,000

Share capital (Tables)

Share capital (Tables)	6 Months Ended
	Jun. 30, 2024
Notes and other explanatory information [abstract]
Schedule of share capital	Schedule of share capital June 30, 2024 December 31, 2023 No. of ordinary shares 22,683,039 12,683,039

Group information (Tables)

Group information (Tables)	6 Months Ended
	Jun. 30, 2024
Schedule of consolidated financial statements	The consolidated financial statements of the Group include : Schedule of consolidated financial statements Place of incorporation Effective equity held by the Name of subsidiary Principal activities and business Group 2024 2023 % % Held by the Company Environmental Solutions Group Holdings Limited Investment holding company Cayman Island 100 100 Held by Subsidiary Environmental Solutions Asia Holdings Limited Investment holding company British Virgin Islands 100 100 Environmental Solutions (Asia) Pte Ltd Waste management and recycling of industrial wastes Singapore 100 100

Schedule of property, plant and

Schedule of property, plant and equipment depreciation, estimated useful lives (Details)	6 Months Ended
	Jun. 30, 2024
Land and buildings [member]
IfrsStatementLineItems [Line Items]
Description of useful life, property, plant and equipment	Over the lease term period ranging from 2 to 30 years
Property and equipment [member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Useful life measured as period of time, property, plant and equipment	3 years
Property and equipment [member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Useful life measured as period of time, property, plant and equipment	5 years
Machinery [member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Useful life measured as period of time, property, plant and equipment	2 years
Machinery [member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Useful life measured as period of time, property, plant and equipment	10 years
Renovation [member]
IfrsStatementLineItems [Line Items]
Useful life measured as period of time, property, plant and equipment	5 years
Motor vehicles [member]
IfrsStatementLineItems [Line Items]
Useful life measured as period of time, property, plant and equipment	10 years
Fixtures and fittings [member]
IfrsStatementLineItems [Line Items]
Useful life measured as period of time, property, plant and equipment	5 years

Schedule of intangible assets d

Schedule of intangible assets depreciable, estimated useful lives (Details)	6 Months Ended
	Jun. 30, 2024
Computer software [member]
IfrsStatementLineItems [Line Items]
Useful life measured as period of time, intangible assets other than goodwill	3 years

Schedule of revenue classified

Schedule of revenue classified by type of good or service (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
IfrsStatementLineItems [Line Items]
Revenue	$ 3,487,879	$ 3,394,313
Sales of circular products [member]
IfrsStatementLineItems [Line Items]
Revenue	800,129	1,313,953
Waste disposal services [member]
IfrsStatementLineItems [Line Items]
Revenue	$ 2,687,750	$ 2,080,360

Schedule of other income (Detai

Schedule of other income (Details) - USD ($)		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023
Notes and other explanatory information [abstract]
Foreign exchange gain		$ 264,158	$ 65,015
Interest income		3	12,002
Gain from disposal of motor vehicle			2,130
Government grants		18,052	33,511
Grant from AEPW	[1]		40,320
Warehousing and logistic services			36,357
Other income		$ 282,213	$ 189,335
[1]The Alliance to End Plastic Waste (“AEPW”) is an industry-founded and funded non-governmental and non-profit organization based in Singapore. Founding members include BASF, Chevron Phillips Chemical, ExxonMobil, Dow Chemical, Mitsubishi Chemical Holdings, Proctor & Gamble and Shell

Schedule of other operating exp

Schedule of other operating expenses (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Notes and other explanatory information [abstract]
Foreign worker levy	$ 82,944	$ 78,335
Insurance	189,192	38,647
Professional fees	285,343	291,303
Property tax	54,293	54,630
Rental and storage	211,561	214,175
Utilities	36,889	92,045
Upkeep, repair and maintenance	58,165	53,392
Chemical and incineration fees	189,545	70,378
Bank service charges	3,528	45,878
Listing fees and expenses	75,641
Others	25,172	52,743
Other operating expenses	$ (1,212,273)	$ (991,526)

Schedule of employee benefits e

Schedule of employee benefits expense (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Notes and other explanatory information [abstract]
Salaries, wages and bonuses	$ 524,521	$ 472,611
Directors’ remuneration	373,093	110,651
Directors’ fees	64,002
Employer’s contribution to defined contribution plans including Central Provident Fund	60,679	53,577
Other short term benefit	27,602	2,221
Employee benefits expense	$ 1,049,897	$ 639,060

Schedule of finance expense (De

Schedule of finance expense (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
IfrsStatementLineItems [Line Items]
Interest expenses	$ 147,128	$ 158,912
Lease liabilities [member]
IfrsStatementLineItems [Line Items]
Interest expenses	26,129	28,492
Short-term borrowings [member]
IfrsStatementLineItems [Line Items]
Interest expenses	$ 120,999	$ 130,420

Schedule of tax expense attribu

Schedule of tax expense attributable to loss (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Notes and other explanatory information [abstract]
- Current income tax	$ 146,480
- Movements in deferred tax liabilities	2,000	39,000
Tax expense attributable to loss	$ 148,480	$ 39,000

Schedule of income tax rates to

Schedule of income tax rates to profit or loss before income tax expense (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Notes and other explanatory information [abstract]
Loss before income tax	$ (322,944)	$ (590,254)
Tax calculated at tax rate of 17% (2023: 17%)	(54,900)	(100,343)
Effects of:
- Expenses not deductible for tax purposes	178,809	5,331
- Income not subject to tax	(43,011)	(21,754)
- Temporary difference	67,582	155,766
Tax expense attributable to loss	$ 148,480	$ 39,000

Schedule of Income Tax Rates _2

Schedule of Income Tax Rates to Profit or Loss Before Income Tax Expense (Details) (Paranthetical)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Notes and other explanatory information [abstract]
Applicable tax rate	17%	17%

Schedule of property, plant a_2

Schedule of property, plant and equipment (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
IfrsStatementLineItems [Line Items]
Cost	$ 7,490,797	$ 6,906,448
Beginning balance	21,786,365
Ending balance	21,043,668	21,786,365
Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Valuation	19,264,346	19,828,888
Beginning balance	26,755,143	26,735,336
Additions	38,697	651,044
Ending balance	26,793,840	26,755,143
Disposal		(66,695)
Lease modifications		8,230
Revaluation		(910,055)
Exchange difference		337,283
Accumulated depreciation [member]
IfrsStatementLineItems [Line Items]
Beginning balance	4,968,778	4,242,053
Ending balance	5,750,172
Depreciation charge	781,394	1,501,809
Disposal		(51,713)
Revaluation		(723,371)
Leasehold land and buildings [member]
IfrsStatementLineItems [Line Items]
Cost
Beginning balance	18,531,991
Ending balance	18,072,739
Leasehold land and buildings [member] | Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Valuation	19,264,346	19,828,888
Beginning balance	19,264,346	19,828,888
Additions
Ending balance	19,264,346	19,264,346
Disposal
Lease modifications		8,230
Revaluation		(910,055)
Exchange difference		337,283
Leasehold land and buildings [member] | Accumulated depreciation [member]
IfrsStatementLineItems [Line Items]
Beginning balance	732,355	523,495
Ending balance	1,191,607
Depreciation charge	459,252	932,231
Disposal
Revaluation		(723,371)
Property and equipment [member]
IfrsStatementLineItems [Line Items]
Cost	4,960,307	4,385,903
Beginning balance	2,856,380
Ending balance	2,644,986
Property and equipment [member] | Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Valuation
Beginning balance	4,960,307	4,385,903
Additions	38,570	580,125
Ending balance	4,998,877	4,960,307
Disposal		(5,721)
Lease modifications
Revaluation
Exchange difference
Property and equipment [member] | Accumulated depreciation [member]
IfrsStatementLineItems [Line Items]
Beginning balance	2,103,927	1,689,985
Ending balance	2,353,891
Depreciation charge	249,964	416,516
Disposal		(2,574)
Revaluation
Machinery [member]
IfrsStatementLineItems [Line Items]
Cost	1,213,687	1,213,687
Beginning balance	238,885
Ending balance	189,950
Machinery [member] | Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Valuation
Beginning balance	1,213,687	1,213,687
Additions
Ending balance	1,213,687	1,213,687
Disposal
Lease modifications
Revaluation
Exchange difference
Machinery [member] | Accumulated depreciation [member]
IfrsStatementLineItems [Line Items]
Beginning balance	974,802	874,266
Ending balance	1,023,737
Depreciation charge	48,935	100,536
Disposal
Revaluation
Renovation [member]
IfrsStatementLineItems [Line Items]
Cost	490,239	487,229
Beginning balance	2,709
Ending balance	2,408
Renovation [member] | Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Valuation
Beginning balance	490,239	487,229
Additions		3,010
Ending balance	490,239	490,239
Disposal
Lease modifications
Revaluation
Exchange difference
Renovation [member] | Accumulated depreciation [member]
IfrsStatementLineItems [Line Items]
Beginning balance	487,530	486,040
Ending balance	487,831
Depreciation charge	301	1,490
Disposal
Revaluation
Motor vehicles [member]
IfrsStatementLineItems [Line Items]
Cost	694,591	692,142
Beginning balance	151,442
Ending balance	129,255
Motor vehicles [member] | Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Valuation
Beginning balance	694,591	692,142
Additions		63,423
Ending balance	694,591	694,591
Disposal		(60,974)
Lease modifications
Revaluation
Exchange difference
Motor vehicles [member] | Accumulated depreciation [member]
IfrsStatementLineItems [Line Items]
Beginning balance	543,149	545,593
Ending balance	565,336
Depreciation charge	22,187	46,695
Disposal		(49,139)
Revaluation
Fixtures and fittings [member]
IfrsStatementLineItems [Line Items]
Cost	131,973	127,487
Beginning balance	4,958
Ending balance	4,330
Fixtures and fittings [member] | Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Valuation
Beginning balance	131,973	127,487
Additions	127	4,486
Ending balance	132,100	131,973
Disposal
Lease modifications
Revaluation
Exchange difference
Fixtures and fittings [member] | Accumulated depreciation [member]
IfrsStatementLineItems [Line Items]
Beginning balance	127,015	122,674
Ending balance	127,770
Depreciation charge	$ 755	4,341
Disposal
Revaluation

Schedule of intangible assets (

Schedule of intangible assets (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
IfrsStatementLineItems [Line Items]
Beginning of financial year	$ 2,381,465
End of financial period and year	2,475,974	$ 2,381,465	$ 2,381,465
Amortization	559,340	426,515
Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Beginning of financial year	4,349,839	2,961,256	2,961,256
Additions - internal development	653,849		1,388,583
End of financial period and year	5,003,688		4,349,839
Accumulated Amortisation [Member]
IfrsStatementLineItems [Line Items]
Beginning of financial year	1,968,374	$ 1,115,344	1,115,344
End of financial period and year	2,527,714		1,968,374
Amortization	$ 559,340		$ 853,030

Schedule of trade and other rec

Schedule of trade and other receivables (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Notes and other explanatory information [abstract]
- Non-related parties	$ 454,398	$ 461,497
Trade receivables	454,398	461,497	$ 461,497
- Advance payment to suppliers	329,597	329,597
- Amount due from a director
- Deposits	169,737	46,035
- Goods and services tax recoverable		184
- Prepayments	32,219	195,209
Non-trade receivables	531,553	571,025
Trade and other receivables	$ 985,951	$ 1,032,522

Critical accounting estimates_2

Critical accounting estimates, assumptions and judgements (Details Narrative) - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Jul. 27, 2023	Jun. 30, 2023
IfrsStatementLineItems [Line Items]
Property, plant and equipment	$ 21,043,668	$ 21,786,365		$ 21,786,365
Current inventories	78,682	64,184		64,184
Trade receivables	454,398	461,497		461,497
Intangible assets other than goodwill	$ 2,475,974	$ 2,381,465		$ 2,381,465
Number of shares issued	22,683,039	12,683,039
Current prepayments and other current assets		$ 969
Forward purchase agreement [member]
IfrsStatementLineItems [Line Items]
[custom:OwnershipInterestPercentage-0]			50%
Forward purchase agreement [member] | Vellar Opportunities Fund Master, Ltd [member]
IfrsStatementLineItems [Line Items]
Number of shares issued			931,915
Forward purchase agreement [member] | ACM ARRT K LLC [member] | Class A Common Stock [member]
IfrsStatementLineItems [Line Items]
Number of shares issued			500,000

Schedule of components of trade

Schedule of components of trade receivables aging (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
IfrsStatementLineItems [Line Items]
Trade and other receivables	$ 985,951	$ 1,032,522
Less than one month [member]
IfrsStatementLineItems [Line Items]
Trade and other receivables	32,438	44,543
Later than two months and not later than three months [member]
IfrsStatementLineItems [Line Items]
Trade and other receivables	93,230	15,214
Current [member]
IfrsStatementLineItems [Line Items]
Trade and other receivables	$ 125,668	$ 59,757

Schedule of inventories (Detail

Schedule of inventories (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Notes and other explanatory information [abstract]
Raw materials	$ 78,682	$ 64,184
Finished goods
Inventories	$ 78,682	$ 64,184	$ 64,184

Schedule of ROU assets classifi

Schedule of ROU assets classified within property, plant and equipment (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
IfrsStatementLineItems [Line Items]
Carrying amounts ROU assets	$ 2,004,908	$ 2,130,216
Land and buildings [member]
IfrsStatementLineItems [Line Items]
Carrying amounts ROU assets	1,894,746	1,999,304
Plant and equipment [member]
IfrsStatementLineItems [Line Items]
Carrying amounts ROU assets		270
Motor vehicles [member]
IfrsStatementLineItems [Line Items]
Carrying amounts ROU assets	$ 110,162	$ 130,642

Schedule of depreciation charge

Schedule of depreciation charge (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
IfrsStatementLineItems [Line Items]
Depreciation charge	$ 125,308	$ 128,244
Land and buildings [member]
IfrsStatementLineItems [Line Items]
Depreciation charge	104,559	104,302
Plant and equipment [member]
IfrsStatementLineItems [Line Items]
Depreciation charge	270	3,941
Motor vehicles [member]
IfrsStatementLineItems [Line Items]
Depreciation charge	$ 20,479	$ 20,001

Schedule of interest expense (D

Schedule of interest expense (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Notes and other explanatory information [abstract]
Interest expense on lease liabilities	$ 26,129	$ 28,492

Schedule of trade and other pay

Schedule of trade and other payables (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Notes and other explanatory information [abstract]
- Non-related parties	$ 331,541	$ 528,865
Trade payables	331,541	528,865
- Amount due to shareholders	331,248	189,595
- Contract liabilities	1,133,784	2,077,358
- Amount due to directors	1,127,472	910,541
- Deposit from customers
- Accruals and other payables	2,543,992	2,837,205
- Goods and services tax payable	22,596	6,340
- Withholding tax	12,845	10,655
Other payables	5,171,937	6,031,694
Trade and other payables	$ 5,503,478	$ 6,560,559

Schedule of borrowings term loa

Schedule of borrowings term loan (Details) - USD ($)		Jun. 30, 2024	Dec. 31, 2023
IfrsStatementLineItems [Line Items]
Total borrowings		$ 4,672,286	$ 5,778,479
Term Loan I [member]
IfrsStatementLineItems [Line Items]
Total borrowings	[1]	157,980	201,945
Term Loan IV [member]
IfrsStatementLineItems [Line Items]
Total borrowings	[2]	238,778	378,323
Term Loan V [member]
IfrsStatementLineItems [Line Items]
Total borrowings	[3]	276,040	426,589
Term Loan VI [member]
IfrsStatementLineItems [Line Items]
Total borrowings	[4]	713,103	924,276
Term Loan VII [member]
IfrsStatementLineItems [Line Items]
Total borrowings	[5]	1,765,182	2,014,258
Trade receivables financing [member]
IfrsStatementLineItems [Line Items]
Total borrowings		71,074	81,231
Revolving credit [member]
IfrsStatementLineItems [Line Items]
Total borrowings		$ 1,450,129	$ 1,751,857
[1]Term loan I was obtained for refinancing the outstanding loan amount in relation to the leasehold land and building of the Group. This loan is repayable by monthly instalments over a 120 months period commencing 2015. The interest rates charged were between 2.30 % to 1.30 % per annum below the bank’s commercial rate 2 for the 1st to 3rd year of the loan and thereafter at the bank’s Commercial Rate 2 (“CR2”) of 4.68 % to 5.68 5 year period commencing from year 2021. The interest rates charged are 2.00 5 year period commencing from year 2021. The interest rates charged are 2 5 year period commencing from year 2021. The interest rates charged are 2.50 3 year period commencing year 2023. The interest rates charged are 2.0

Schedule of respect of the inte

Schedule of respect of the interest-bearing borrowings trade and other payables (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
IfrsStatementLineItems [Line Items]
Total Bank borrowings repayable	$ 4,672,286	$ 5,778,479
On demand [member]
IfrsStatementLineItems [Line Items]
Total Bank borrowings repayable	4,672,286	5,666,160
Later than one year and not later than two years [member]
IfrsStatementLineItems [Line Items]
Total Bank borrowings repayable		$ 112,319

Trade and other receivables (De

Trade and other receivables (Details Narrative) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
IfrsStatementLineItems [Line Items]
Trade and other current receivables	$ 985,951	$ 1,032,522
Current [member]
IfrsStatementLineItems [Line Items]
Trade and other current receivables	$ 125,668	$ 59,757

Schedule of borrowings term l_2

Schedule of borrowings term loan (Details) (Parenthetical)	6 Months Ended
	Jun. 30, 2024
Term Loan I [member]
IfrsStatementLineItems [Line Items]
[custom:MonthlyInstalments]	120 months
Term Loan I [member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Borrowings, interest rate	2.30%
[custom:CommercialRateInterestRate-0]	4.68%
Term Loan I [member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Borrowings, interest rate	1.30%
[custom:CommercialRateInterestRate-0]	5.68%
Term Loan II [member]
IfrsStatementLineItems [Line Items]
[custom:MonthlyInstalments]	7 years
[custom:FinancingInterestRate-0]	3%
Term Loan II [member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Borrowings, interest rate	2.65%
Term Loan II [member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Borrowings, interest rate	3.45%
Term Loan IV [member]
IfrsStatementLineItems [Line Items]
[custom:MonthlyInstalments]	5 years
Borrowings, interest rate	2%
Term Loan V [member]
IfrsStatementLineItems [Line Items]
[custom:MonthlyInstalments]	5 years
Borrowings, interest rate	2%
Term Loan VI [member]
IfrsStatementLineItems [Line Items]
[custom:MonthlyInstalments]	5 years
Borrowings, interest rate	2.50%
Term Loan VII [member]
IfrsStatementLineItems [Line Items]
[custom:MonthlyInstalments]	3 years
Borrowings, interest rate	2%
Revolving credit [member]
IfrsStatementLineItems [Line Items]
Borrowings, interest rate	2%
[custom:BankCostOfFunds-0]	2%
Revolving credit [member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
[custom:LoansRepaymentsTerm]	1 month
Revolving credit [member] | Top of range [member]
IfrsStatementLineItems [Line Items]
[custom:LoansRepaymentsTerm]	6 months

Schedule of deferred tax assets

Schedule of deferred tax assets and liabilities (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Notes and other explanatory information [abstract]
Deferred tax assets recognized
Deferred tax liabilities recognized	298,000	296,000
Net deferred tax liabilities	$ 298,000	$ 296,000

Schedule of deferred tax liabil

Schedule of deferred tax liabilities (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Notes and other explanatory information [abstract]
Balance as at beginning of financial year	$ 296,000	$ 163,000
Movements in deferred tax liabilities	2,000	133,000
Balance as at end of financial year	$ 298,000	$ 296,000

Schedule of share capital (Deta

Schedule of share capital (Details) - shares	Jun. 30, 2024	Dec. 31, 2023
Notes and other explanatory information [abstract]
No. of ordinary shares	22,683,039	12,683,039

Borrowings (Details Narrative)

Borrowings (Details Narrative) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Notes and other explanatory information [abstract]
[custom:TradeReceivablesImmediatePayment-0]	90%
[custom:TradeSettlementOfReceivables-0]	10%
[custom:LeaseholdLandAndBuildings-0]	$ 16,177,993	$ 16,532,686

Schedule of consolidated financ

Schedule of consolidated financial statements (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Parent [member]
IfrsStatementLineItems [Line Items]
Country of incorporation	Cayman Island
Effective equity held by the Group	100%	100%
Total for all subsidiaries [member]
IfrsStatementLineItems [Line Items]
Country of incorporation	British Virgin Islands
Effective equity held by the Group	100%	100%
Environmental Solutions Pte Ltd [member]
IfrsStatementLineItems [Line Items]
Country of incorporation	Singapore
Effective equity held by the Group	100%	100%