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RESTATEMENT OF PREVIOUSLY ISSUED COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Changes and Error Corrections [Abstract]

SUMMARY OF IMPACT OF CORRECTIONS BASED ON CHANGE IN PRESENTATION CURRENCY

The following table summarizes the impact of the corrections on the combined balance sheet at December 31, 2023, and the combined statements of operations for the years ended December 31, 2022 and 2023:

 SUMMARY OF IMPACT OF CORRECTIONS BASED ON CHANGE IN PRESENTATION CURRENCY

						Foreign Currency Translation [Member]
Balance sheet:		As of				Foreign				As of
Change in presentation currency		December 31, 2023				Currency Translation				December 31, 2023
		Reported SGD								Reported US$
ASSETS
Current assets:
Cash and cash equivalents			1,802,469				(436,238	)			1,366,231
Accounts receivables, net			149,602				(36,207	)			113,395
Inventories, net			889,907				(215,378	)			674,529
Amounts due from related parties			505,716				(122,395	)			383,321
Amount due from former shareholder			730,300				(176,749	)			553,551
Amount due from related parties			730,300				(176,749	)			553,551
Deposit, prepayments and other receivables			909,738				(220,176	)			689,562
Total current assets			4,987,732				(1,207,143	)			3,780,589
Non-current assets:
Plant and equipment, net			297,587				(72,022	)			225,565
Right-of-use assets, net			4,100,541				(989,504	)			3,111,037
Total non-current assets			4,398,128				(1,061,526	)			3,336,602
TOTAL ASSETS			9,385,860				(2,268,669	)			7,117,191
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable			1,310,787				(317,240	)			993,547
Customer deposits			1,117,364				(270,427	)			846,937
Accrued liabilities and other payables			285,756				(69,160	)			216,596
Lease liabilities			1,632,192				(395,027	)			1,237,165
Total current liabilities			4,346,099				(1,051,854	)			3,294,245
Long-term liabilities:
Other payables			125,083				(30,273	)			94,810
Lease liabilities			2,809,102				(679,865	)			2,129,237
Total long-term liabilities			2,934,185				(710,138	)			2,224,047
TOTAL LIABILITIES			7,280,284				(1,761,992	)			5,518,292
Commitments and contingencies			-				-				-
Shareholders’ equity
Ordinary share			1,747				(422	)			1,325
Additional paid-in capital			38,798,253				(10,101,353	)			28,696,900
Accumulated other comprehensive loss			(4,666,758	)			1,265,109				(3,401,649	)
Accumulated losses			(32,027,666	)			8,329,989				(23,697,677	)
Total shareholders’ equity			2,105,576				(506,677	)			1,598,899
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY			9,385,860				(2,268,669	)			7,117,191

		Year ended				Foreign				Year ended
Statement of operations		December 31,				Currency				December 31,
Change in presentation currency		2022				Translation				2022
		Reported SGD								Reported US$
Revenues, net			8,235,089				(2,262,006	)			5,973,083
Cost of goods sold			(3,116,993	)			856,172				(2,260,821	)
Gross profit			5,118,096				(1,405,834	)			3,712,262
Operating expenses:
Sales and distribution expenses			(2,747,981	)			754,813				(1,993,168	)
General and administrative expenses			(1,345,886	)			369,686				(976,200	)
Total operating expenses			(4,093,867	)			1,124,499				(2,969,368	)
Income from operations			1,024,229				(281,335	)			742,894
Other income:
Interest income
Government subsidies			78,702				(21,618	)			57,084
Sundry income			20,334				(5,585	)			14,749
Total other income, net			99,036				(27,203	)			71,833
Income before income taxes			1,123,265				(308,538	)			814,727
Income tax expense			-				-				-
NET INCOME			1,123,265				(308,538	)			814,727

		Year ended				Foreign				Year ended
Statement of operations		December 31,				Currency				December 31,
Change in presentation currency		2023				Translation				2023
		Reported SGD								Reported US$
Revenues, net			6,811,111				(1,738,791	)			5,072,320
Cost of goods sold			(1,928,492	)			492,320				(1,436,172	)
Gross profit			4,882,619				(1,246,471	)			3,636,148
Operating expenses:
Sales and distribution expenses			(3,078,543	)			785,914				(2,292,629	)
General and administrative expenses			(1,521,472	)			388,412				(1,133,060	)
Total operating expenses			(4,600,015	)			1,174,326				(3,425,689	)
Income from operations			282,604				(72,145	)			210,459
Other income:
Interest income			8,234				(2,102	)			6,132
Government subsidies			11,500				(2,936	)			8,564
Sundry income			16,575				(4,231	)			12,344
Total other income, net			36,309				(9,269	)			27,040
Income before income taxes			318,913				(81,414	)			237,499
Income tax expense			-				-				-
NET INCOME			318,913				(81,414	)			237,499

SUMMARY OF IMPACT OF CORRECTIONS BASED ON RECLASSIFICATION OF CERTAIN ACCOUNTING CAPTIONS

The following table summarizes the impact of the corrections on the combined statements of operations for the years ended December 31, 2022 and 2023:

 SUMMARY OF IMPACT OF CORRECTIONS BASED ON RECLASSIFICATION OF CERTAIN ACCOUNTING CAPTIONS

		SGD				SGD				SGD
		Year ended December 31, 2022
		As Previously				Restatement
		Reported				Adjustments				As Restated
		SGD				SGD				SGD
Operating expenses:
Sales and distribution expenses			(2,747,981	)			-				(2,747,981	)
General and administrative expenses			(1,355,809	)			9,923				(1,345,886	)
Total operating expenses			(4,103,790	)			9,923				(4,093,867	)
Income from operations			1,014,306				9,923				1,024,229
Other income:
Interest income
Government subsidies			-				78,702				78,702
Sundry income			108,959				(88,625	)			20,334
Total other income, net			108,959				(9,923	)			99,036
Income before income taxes			1,123,265				-				1,123,265

		SGD				SGD				SGD
		Year ended December 31, 2023
		As Previously				Restatement
		Reported				Adjustments				As Restated
		SGD				SGD				SGD
Operating expenses:
Sales and distribution expenses			(3,079,243	)			700				(3,078,543	)
General and administrative expenses			(1,598,960	)			77,488				(1,521,472	)
Total operating expenses			(4,678,203	)			78,188				(4,600,015	)
Income from operations			204,416				78,188				282,604
Other income:
Interest income			-				8,234				8,234
Government subsidies			-				11,500				11,500
Sundry income			114,497				(97,922	)			16,575
Total other income, net			114,497				(78,188	)			36,309
Income before income taxes			318,913				-				318,913

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