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Consolidated Statements of Cash Flows
12 Months Ended
Dec. 31, 2024
SGD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
SGD ($)
Dec. 31, 2022
SGD ($)
Cash flows from operating activities        
Net income (loss) $ (1,031,138) $ (754,750) $ 2,390,166 $ 617,725
Adjustments to reconcile net income (loss) to net cash used in operating activities:        
Provision for doubtful accounts 30,078 22,016 30,916
Depreciation of property and equipment 4,314 3,158 4,619 3,155
Amortization of right-of-use assets 225,287 164,900 192,021 180,224
Gain on early termination of lease (11,081) (8,111)
Deferred tax expenses (186,547) (136,544) 478,009
Changes in operating assets and liabilities        
Accounts receivable 239,017 174,950 (208,457) (122,031)
Contract assets (138,678) (101,506) (4,061,592) (751,722)
Accounts receivable – a related party 125,941 92,183 (185,694) (347,105)
Other assets 161,948 118,539 18,670 (27,977)
Accounts payable 315,228 230,733 325,961 (487,534)
Other payables and accruals (95,002) (69,537) (72,121) 213,123
Contract liabilities (136,464) 136,464
Income tax payable (15,772) 105,228
Lease liabilities (170,637) (124,899) (129,648) (117,047)
Net cash used in operating activities (531,270) (388,868) (1,369,386) (597,497)
Cash flows from investing activities        
Purchases of property and equipment (4,879) (7,752)
Repayment of amount from a related party 1,000,000 702,000
Loans to a third party (2,621,944) (1,919,151)
Net cash provided by (used in) investing activities (2,621,944) (1,919,151) 995,121 694,248
Cash flows from financing activities        
Proceeds from loans and borrowings 1,050,000 275,000
Proceeds from related parties 450,368 329,650 584,328
Payment for deferred offering costs (200,526)
Repayment of amount to related parties (212,051) (62,806)
Repayment of loans and borrowings (430,465) (315,082) (439,850) (366,374)
Payments for finance lease liabilities (60,604) (44,360) (58,215) (55,259)
Issuance of Class A ordinary shares in connection with IPO 5,618,568 4,112,550
Net cash (used in) provided by financing activities 5,577,867 4,082,758 723,686 (209,439)
Effect of foreign exchange on cash 250,665 183,479
Net changes in cash 2,675,318 1,958,218 349,421 (112,688)
Cash at beginning of the year 698,106 510,984 348,685 461,373
Cash at end of the year 3,373,424 2,469,202 698,106 348,685
Supplemental non-cash in financing activities:        
Deferred IPO costs charged to share capital 1,543,632 1,129,873
Offset amount due to a related party 1,296,018 1,084,524
Right-of-use assets, obtained in exchange for lease obligations 345,788 253,102
Supplement disclosures of cash flow information:        
Income taxes paid 20,597 15,076 15,773 8,479
Interest paid $ 80,176 $ 58,685 $ 73,962 $ 42,938