Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 131

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 18
Chunk 131
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3, the FASB issued Accounting Standards Update No. 2023-09, “ Income Taxes (Topic 740): Improvements to Income Tax Disclosures”
(“ ASU 2023-09”), which modifies the rules on income tax disclosures to require entities to disclose (1) specific categories
in the rate reconciliation, (2) the income or loss from continuing operations (separated by federal, state and foreign). ASU 2023-09
also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes.
The guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements
that have not yet been issued or made available for issuance. ASU 2023-09 should be applied on a prospective basis, but retrospective
application is permitted. The Company is currently evaluating the potential impact of adopting this new guidance on its consolidated
financial statements and related disclosures.

In
November 2024, the FASB issued new guidance to improve comprehensive income disclosures. The guidance requires disaggregation of income
statement expense. The guidance will be effective for the Company beginning with annual reporting for fiscal year ending December 31,
2027 and interim periods thereafter. The Company is currently assessing the impact the new guidance will have on its income statement
expenses disclosures.

Except
as mentioned above, the Company does not believe other recently issued but not yet effective accounting standards, if currently adopted,
would have a material effect on the Company’s consolidated balance sheets, statements of income and cash flows.

SIMPPLE
LTD. AND ITS SUBSIDIARIES

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

3Account receivables

Schedule of accounts receivables

                                         2023                                   2024                   2024               
                                         As of December 31,                                                               
                                         2023                                   2024                   2024               
                                         S$                                     S$                     US$                
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Account receivables                                            4,757,754                496,012                363,060  
  Less: allowance for credit losses                              ( 546,892                -                      -        
  Accounts                                                       4,210,862                496,012                363,060  

4Deposits, prepaid expenses and other current assets

Schedule of deposits, prepaid expenses and other assets