Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 117

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 18
Chunk 117
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 Company has suffered recurring losses from operations and has a negative operating cash flow
that raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters
are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this
uncertainty.

Basis
for Opinion

These
consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion
on the Company’s consolidated financial statements based on our audit. We are a public accounting firm registered with the Public
Company Accounting Oversight Board (United States) (“ PCAOB”) and are required to be independent with respect to the Company
in accordance with the U. S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission
and the PCAOB.

We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud.
The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part
of our audit, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing
an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our
audit included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due
to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence
regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the overall presentation
of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/Audit Alliance LLP

We
have served as the Company’s auditor from 2022.

Singapore

April 8, 2025

PCAOB
ID Number 3487

  F-2  

  Table of Contents  

SIMPPLE
LTD. AND ITS SUBSIDIARIES

CONSOLIDATED
BALANCE SHEETS

AS
OF DECEMBER 31, 2023 AND 2024

                                                                                                                       2023                                      2024                        2024                    
                                                                                                                       As of December 31,                                                                            
                                                                                                                       2023                                      202