Company: OTSA
Filing Date: 2025-01-28
Form Type: DRS
Source: 0001213900-25-007614
Chunk: 262

Company: OTSAW Ltd
Filing Date: 2025-01-28
Form: DRS
Chunk 262
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W 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.) Depreciation is charged so as to write off the cost of assets over their estimated useful lives, using the straight -linemethod, on the following bases:

|                             |     | Useful lives |
| Furniture and fittings      |     | 3 years      |
| Office equipment            |     | 3 years      |
| Testing equipment and tools |     | 3 years      |
| Robotic software            |     | 3 years      |
| Robotic hardware            |     | 3 years      |
| Premises                    |     | 6 years      |

For right -of -useassets for which ownership of the underlying asset is not transferred to the Group by the end of the lease term, depreciation is charged over the lease term, using the straight -linemethod. The lease periods are disclosed in Note 19. The carrying values of property, plant and equipment are reviewed for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable. The estimated useful lives, residual values and depreciation methods are reviewed, and adjusted as appropriate, at the end of each financial year. The gain or loss, being the difference between the sales proceeds and the carrying amount of the asset, arising on disposal or retirement of an item of property, plant and equipment is recognised in profit or loss. Fully depreciated property, plant and equipment are retained in the Consolidated financial statements until they are no longer in use. 2.11 Intangible assets Internally generated intangible assets Expenditure from the research phase of an internal project to create an intangible asset is expensed in profit or loss when it is incurred. Where the research phase cannot be distinguished from the development phase of an internal project, the Group treats the expenditure on that project as if it were incurred in the research phase only. An internally -generatedintangible asset arising from development (or from the development phase of an internal project) is recognised, if, and only if, all the following have been demonstrated: •the technical feasibility of completing the intangible asset so that it will be available for use or sale; •the intention to complete the intangible asset and use or sell it; •the ability to use or sell the intangible asset; •how the intangible asset will generate probable future