Company: OTSA
Filing Date: 2025-07-16
Form Type: F-1/A
Source: 0001213900-25-064434
Chunk: 285

Company: OTSAW Ltd
Filing Date: 2025-07-16
Form: F-1/A
Chunk 285
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 controlled by Ling, Ting Ming with no other operations that does not form part of the consolidated group. There is currently no specific guidance on accounting for common control transactions under International Financial Reporting Standards issued by the International Accounting Standards Board (“IFRS”). In the absence of specific guidance Otsaw elected to apply the “pooling of interests” method of accounting. Under “pooling of interests” the assets and liabilities of Otsaw Digital are carried over at their book values with no adjustment made for the acquisition price and prior periods are restated as if the common control transaction had occurred at the beginning of the earliest period presented. These consolidated annual financial statements comprise Otsaw and its subsidiaries (collectively the “group” and individually “group companies”). The group is primarily involved in security, logistics and disinfection robot services, development of autonomous mobile robotic software and investment holding. The consolidated financial statements of the Company for the financial year ended April 30, 2024 are authorised for issue by the Board of Directors on October 23, 2024. Basis of measurement The consolidated annual financial statements have been prepared on the historical cost basis with the exception of certain financial instruments which have been fair valued. Functional and presentation currency These consolidated annual financial statements are presented in United State Dollar (USD), which is the Group’s presentation currency. The Group’s functional currencies are Singapore Dollar (SGD), Euro (EUR) and United State Dollar (USD). F-8

OTSAW LIMITED AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024 1.Reporting entity (cont.) Correction of Immaterial Misstatement During the year ended April 30, 2024, the Company identified classification errors in the Consolidated Statement of Loss and Other Comprehensive Loss for the year ended April 30, 2023. Accordingly, the accompanying Consolidated Statement of Loss and Other Comprehensive Loss for the year ended April 30, 2023 has been corrected to conform with 2024 fiscal year presentation for better reflecting the function of the expenses, as presented in below table.

| (In USD)                   |     |             2023 
           Before 
 Reclassification |     | Reclassification |   |     |             2023 
            After 
 Reclassification |
| Cost of revenue            |     |        3,683,844 |     |          166,340 |   |     |        3