Company: OTSA
Filing Date: 2025-05-23
Form Type: DRS/A
Source: 0001213900-25-047247
Chunk: 316

Company: OTSAW Ltd
Filing Date: 2025-05-23
Form: DRS/A
Chunk 316
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60,245 for the period ended October 30, 2024 comprises 6 robots leased to Singapore customers contributing to US$53,745 and 1 robots leased to USA customers contributing to US$6,500. F-51 OTSAW LIMITED AND ITS SUBSIDIARIES
NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED OCTOBER 31, 2024 AND 2023 2.Summary of significant accounting policies (cont.) Services and maintenance Services and maintenance relates to ongoing support, preventive and corrective maintenance, software updates, and training. Such sales contracts usually include single performance obligation, which is to deliver services to the customer. Renewal option is provided to customers and timing of renewal is at customers’ discretion. Customers can opt to purchase a service and maintenance contract tailored to their requirements, offered at a fixed price without variable consideration. Revenue is recognized over time on a straight -linebasis over the duration of the service contract, typically lasting an average of 5 years. Sales of robots and related IT products This includes the sale of autonomous mobile robots (AMRs) and related IT products, such as software and hardware components, including spare parts and services related to robot setup and commissioning. Such sales contracts may include single or multiple performance obligations. The single performance obligation is to deliver products or services to the customer. In cases whereby a contract includes multiple performance obligations (e.g., hardware sales bundled with a service contract on project basis), the multiple performance obligations include delivering Robots, delivering Batteries, Installation and Commissioning, User Acceptance Testing and Warranty support. We allocate the transaction price to each performance obligation based on its respective standalone selling price in accordance with IFRS 15. This ensures revenue is recognized appropriately when obligations are fulfilled. Contract assets and liabilities Contract Assets relates to Unbilled Revenue for which the corresponding maintenance service has been provided and cost has been incurred with revenue recognized but has not yet issued an invoice. These unbilled revenues are included under “Trade and other receivables” on the Consolidated Statements of Financial Position, amounting to $262,758 and $215,851 respectively as of October 31, 2024 and April 30, 2024 (See Note 12). Contract Liabilities related to Deposits Received from customers for which products or services have not been delivered. These customer deposits received are included under “Trade and other payables” on the Consolidated Statements of Financial Position