Company: OTSA
Filing Date: 2025-07-16
Form Type: F-1/A
Source: 0001213900-25-064434
Chunk: 296

Company: OTSAW Ltd
Filing Date: 2025-07-16
Form: F-1/A
Chunk 296
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 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.

F-15 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.) 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 economic benefits; •the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible assets; and •the ability to measure reliably the expenditure attributable to the intangible asset during its development. The amount initially recognised for internally -generatedintangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally -generatedintangible asset can be recognised, development expenditure is charged to profit or loss in the period in which it is incurred. Subsequent to initial recognition, internally -generatedintangible assets are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets acquired separately. The amortisation charge is recognised in profit or loss and is assessed for impairment when there is an indication that the intangible asset may be impaired. The estimated amortisation