Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 72

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 5
Chunk 72
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 estimates are based on the assumptions that
management believes a market participant would use in pricing the asset or liability.

Impairment
of long-lived assets

Long-lived
assets primarily include property and equipment and intangible assets. In accordance with the provision of ASC 360, the Company usually
conducts its annual impairment evaluation to its long-lived assets in the fourth quarter of each year, or more frequently if indicators
of impairment exist, such as a significant sustained change in the business climate. The recoverability of long-lived assets is measured
at the reporting unit level. If the total of the expected undiscounted future net cash flows is less than the carrying amount of the
asset, a loss is recognized for the difference between the fair value and carrying amount of the asset. As of December 31, 2022, 2023
and 2024, the Company determined there were no indicators of impairment of its long-lived assets.

Income
Taxes

The
Company accounts for income taxes using an asset and liability approach which allows for the recognition and measurement of deferred
tax assets based upon the likelihood of realization of tax benefits in future years. Under the asset and liability approach, deferred
taxes are provided in connection with the net tax effects of temporary differences between the carrying amounts of assets and liabilities
for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets
if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility
is uncertain.

The
Company conducts its businesses in Singapore and is subject to tax in the jurisdiction. As a result of its business activities, the Company
will file separate tax returns in Singapore which is subject to examination by the foreign tax authorities.

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  Table of Contents  

Recent
accounting pronouncements

See
the discussion of the recent accounting pronouncements contained in Note 2 to the consolidated financial statements, “ Summary of
Significant Accounting Policies”.

ITEM
6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES