| Related party transactions and balances |
11
Related party transactions and balances
The
table below sets forth the major related parties and their relationships with the Company as of December 31, 2024 and 2025:
Schedule of related parties and their relationships
| Name
of related parties | |
Relationship
with the Company |
| Mains D’ Or Investments Ltd | |
A company controlled by the Company’s
controlling shareholder |
| WIS Holdings Pte Ltd | |
A common shareholder of Mains D’Or Investments
Ltd |
| Campaign Complete Solutions Pte Ltd | |
Subsidiary of WIS Holdings Pte Ltd |
| Weishen Industrial Services Pte Ltd | |
Subsidiary of WIS Holdings Pte Ltd |
| WIS ICT Pte Ltd | |
A common shareholder of Mains D’Or Investments
Ltd |
| IFSC Founders | |
Subsidiary of Mains D’Or Investments
Ltd |
| Pat Kah Kit Daryl | |
Executive Officer |
| Soo Qikai | |
Executive Officer |
| Poo Chong Hee | |
Person significant influence |
| James Yataras | |
Country Head, Australia |
| |
i)
|
Significant
transactions with related parties were as follows: |
Schedule of related parties transactions
| | |
2024 | | |
2025 | | |
2025 | |
| | |
For
the years ended December 31, | |
| | |
2024 | | |
2025 | | |
2025 | |
| | |
S$ | | |
S$ | | |
US$ | |
| | |
| | |
| | |
| |
| Sales1 to
Campaign Complete Solutions Pte Ltd | |
| 35,958 | | |
| 20,140 | | |
| 15,662 | |
| Sales2
to Weishen Industrial Services Pte Ltd | |
| 483,083 | | |
| 444,921 | | |
| 346,000 | |
| Total
sales to related party | |
| 519,041 | | |
| 465,061 | | |
| 361,662 | |
| | |
| | | |
| | | |
| | |
| Purchases from Weishen
Industrial Services Pte Ltd | |
| - | | |
| 5,410 | | |
| 4,207 | |
| Total purchases from related party | |
| - | | |
| 5,410 | | |
| 4,207 | |
| | |
| | | |
| | | |
| | |
| Loan from Poo Chong Hee | |
| 100,000 | | |
| 112,000 | | |
| 89,022 | |
| Total loan from related
party | |
| 100,000 | | |
| 112,000 | | |
| 89,022 | |
| |
ii)
|
Significant
balances with related parties were as follows: |
| | |
2024 | | |
2025 | | |
2025 | |
| | |
As
of December 31, | |
| | |
2024 | | |
2025 | | |
2025 | |
| | |
S$ | | |
S$ | | |
US$ | |
| | |
| | |
| | |
| |
| Trade receivable – related
parties | |
| | | |
| | | |
| | |
| Campaign Complete Solutions Pte
Ltd | |
| 29,735 | | |
| - | | |
| - | |
| Weishen Industrial Services Pte Ltd | |
| 115,472 | | |
| 46,879 | | |
| 36,456 | |
| IFSC Founders | |
| - | | |
| 2,305 | | |
| 1,793 | |
| Trade receivable - related
parties | |
| - | | |
| 2,305 | | |
| 1,793 | |
| | |
| | | |
| | | |
| | |
| Trade payables – related
party | |
| | | |
| | | |
| | |
| Weishen Industrial Services Pte Ltd | |
| - | | |
| (2,017 | ) | |
| (1,569 | ) |
| Trade payables - related
parties | |
| - | | |
| (2,017 | ) | |
| (1,569 | ) |
| | |
| | | |
| | | |
| | |
| Other
payable - related parties 3 | |
| | | |
| | | |
| | |
| Campaign Complete Solutions Pte Ltd | 3 |
| (42,950 | ) | |
| - | | |
| - | |
| WIS Holdings Pte Ltd | 3 |
| (388,939 | ) | |
| (388,939 | ) | |
| (302,464 | ) |
| Other payable - related party | 3 |
| (100,000 | ) | |
| (136,200 | ) | |
| (105,918 | ) |
| Other payable - related party | 3 |
| (100,000 | ) | |
| (136,200 | ) | |
| (105,918 | |
| Salary payable - related party 4 | 4 |
| - | | |
| (10,777 | ) | |
| (8,381 | ) |
| Salary payable - related party 4 | 4 |
| - | | |
| (10,777 | ) | |
| (8,381 | ) |
| | |
| | | |
| | | |
| | |
| Advance billing - related
parties | |
| | | |
| | | |
| | |
| Campaign Complete Solutions Pte Ltd | |
| (24,306 | ) | |
| (2,100 | ) | |
| (1,633 | ) |
| Weishen Industrial Services
Pte Ltd | |
| (84,383 | ) | |
| (72,453 | ) | |
| (56,344 | ) |
| Advance billing –
related parties | |
| (108,689 | ) | |
| (74,553 | ) | |
| (57,977 | ) |
| 1 |
|
Sales
comprise sales of robots of S$Nil (2024: S$8,278) and software revenue of S$20,140 (2024: S$27,680). |
| 2 |
|
Sales
comprise sales of robots of S$126,074 (2024: S$67,994) and software revenue of S$318,847 (2024: S$415,089). |
| |
|
|
3 |
|
The Company borrows money from the related parties for operation purposes. The loans are interest free, unsecured
and repayable in February 2026. |
| 4 |
|
The
balance was settled on January 02, 2026 merely due to timing difference. |
SIMPPLE
LTD. AND ITS SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
|