Company: OTSA
Filing Date: 2025-07-07
Form Type: F-1/A
Source: 0001213900-25-061733
Chunk: 303

Company: OTSAW Ltd
Filing Date: 2025-07-07
Form: F-1/A
Chunk 303
---
, with interest expense recognised on an effective yield basis in finance costs. A gain or loss is recognised in profit or loss when the liability is derecognised and through the amortisation process. Derecognition of financial liabilities The Group derecognises financial liabilities when, and only when, the Group’s obligations are discharged, cancelled or they expire. F-19 OTSAW LIMITED AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024 2.Summary of significant accounting policies (cont.) 2.14 Inventories Inventories are stated at the lower of cost and net realisable value. Costs comprise direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. Cost is calculated using the weighted average method. Net realisable value represents the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. 2.15 Cash and cash equivalents Cash and cash equivalents comprise cash on hand and demand deposits, bank overdrafts and other short -termhighly liquid investments which are readily convertible to known amounts of cash and are subject to insignificant risk of changes in value. 2.16 Leases At inception of a contract, the Group assessed whether the contract is, or contains, a lease. A contract is, or 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. Where a contract contains more than one lease component, the Group allocates the consideration in the contract to each lease component on the basis of the relative standalone price of the lease component. Where the contract contains non -leasecomponents, the Group applied the practical expedient to not to separate non -leasecomponents from lease components, and instead account for each lease component and any associated non -leasecomponents as a single lease component. The Group recognises a right -of -useasset and lease liability at the lease commencement date for all lease arrangement for which the Group is the lessee, except for leases which have lease term of 12 months or less and leases of low value assets for which the Group applied the recognition exemption allowed under IFRS 16 Leases. For these leases, the Group recognises the lease payment as an operating expense on a straight -linebasis over the term of the lease. The right -of -