47 results
20-F
2024 FY
RECT
Rectitude Holdings Ltd Ordinary Shares
26 Jul 24
Annual report (foreign)
5:12pm
Note 4 — OTHER INCOME, NET
| For the years ended March 31, | ||||||||||||||||
| 2022 | 2023 | 2024 | 2024 | |||||||||||||
| S$ | S$ | S$ | US$ | |||||||||||||
| Gain on foreign currency exchange, net | 123 | 403 | 21,083 | 15,646 | ||||||||||||
| Operating lease modifications | — | 53,991 | 7,025 | 5,213 | ||||||||||||
| (Loss)/ Gain on disposal of property, plant and equipment | (3,723) | 386 | 5,000 | 3,711 | ||||||||||||
| Rental income | 11,670 | — | 19,003 | 14,102 | ||||||||||||
| Fair value change in financial instrument | 5,758 | 1,542 | 9,502 | 7,052 | ||||||||||||
| Government grants | 116,665 | 100,556 | 136,827 | 101,541 | ||||||||||||
| Toal other income, net | 130,493 | 156,878 | 198,440 | 147,265 | ||||||||||||
20-F
2024 FY
RECT
Rectitude Holdings Ltd Ordinary Shares
26 Jul 24
Annual report (foreign)
5:12pm
The maturity dates for the Company’s outstanding bank loans as of March 31, 2024 are as follows:
| SGD | USD | |||||||
| 2025 | 698,928 | 518,685 | ||||||
| 2026 | 468,427 | 347,627 | ||||||
| 2027 | 468,427 | 347,627 | ||||||
| 2028 | 468,427 | 347,627 | ||||||
| 2029 | 468,427 | 347,627 | ||||||
| Thereafter | 1,723,113 | 1,278,748 | ||||||
| Total bank loans | 4,295,749 | 3,187,941 | ||||||
| Less: Imputed interest | (625,934) | (464,516) | ||||||
| Present value of bank loans | 3,669,815 | 2,723,425 | ||||||
20-F
2024 FY
RECT
Rectitude Holdings Ltd Ordinary Shares
26 Jul 24
Annual report (foreign)
5:12pm
The following table reconciles Singapore statutory rates to the Company’s effective tax rate:
| For the years ended March 31, | ||||||||||||||||
| 2022 | 2023 | 2024 | 2024 | |||||||||||||
| S$ | S$ | S$ | US$ | |||||||||||||
| Income before tax | 2,516,023 | 4,797,146 | 4,147,616 | 3,078,009 | ||||||||||||
| Singapore statutory income tax rate | 17 | % | 17 | % | 17 | % | 17 | % | ||||||||
| Income tax expense computed at statutory rate | 427,724 | 815,515 | 705,095 | 523,262 | ||||||||||||
| Reconciling items: | ||||||||||||||||
| Income not subject to tax in Singapore | (913) | (328) | (40,126) | (29,778) | ||||||||||||
| Non-deductible expenses | 133,295 | 121,264 | 131,965 | 97,933 | ||||||||||||
| Tax exemption and rebates | (28,659) | (47,489) | (43,760) | (32,475) | ||||||||||||
| Utilization of prior year deferred tax assets not recognized | (92,432) | (18,637) | — | — | ||||||||||||
| Over provision of tax in prior financial year | — | — | 19,016 | 14,112 | ||||||||||||
| Others | — | — | 20,017 | 14,855 | ||||||||||||
| Income tax expenses | 439,015 | 870,325 | 792,207 | 587,909 | ||||||||||||
20-F
2024 FY
RECT
Rectitude Holdings Ltd Ordinary Shares
26 Jul 24
Annual report (foreign)
5:12pm
The following table sets forth a summary of single customers who represent 10% or more of the Company’s total revenue:
| For the years ended March 31, | ||||||||||||||||
| 2022 | 2023 | 2024 | 2024 | |||||||||||||
| S$ | S$ | S$ | US$ | |||||||||||||
| Amount of the Company’s revenue | ||||||||||||||||
| Customer A(1) | 3,722,166 | 5,635,667 | 6,168,565 | 4,577,785 | ||||||||||||
| Customer B(2) | 3,758,101 | 2,811,928 | - | - | ||||||||||||
20-F
2024 FY
RECT
Rectitude Holdings Ltd Ordinary Shares
26 Jul 24
Annual report (foreign)
5:12pm
RECTITUDE HOLDINGS LTD CONSOLIDATED BALANCE SHEETS
| As of March 31, | ||||||||||||
| 2023 | 2024 | 2024 | ||||||||||
| S$ | S$ | US$ | ||||||||||
| Assets | ||||||||||||
| Current assets | ||||||||||||
| Cash and cash equivalents | 2,432,557 | 3,468,594 | 2,574,096 | |||||||||
| Accounts receivable, net | 10,918,435 | 11,508,064 | 8,540,307 | |||||||||
| Inventories, net | 5,781,804 | 6,249,895 | 4,638,141 | |||||||||
| Other receivables | 431,134 | 497,309 | 369,061 | |||||||||
| Advances to related parties | 218,318 | 358,019 | 265,691 | |||||||||
| Deferred initial public offering (“IPO”) costs | — | 1,560,933 | 1,158,392 | |||||||||
| Total current assets | 19,782,248 | 23,642,814 | 17,545,688 | |||||||||
| Non-current assets | ||||||||||||
| Financial instrument | 221,791 | 231,293 | 171,646 | |||||||||
| Property, plant and equipment, net | 6,112,541 | 5,811,883 | 4,313,086 | |||||||||
| Right-of-use assets – operating leases | 2,580,422 | 4,522,524 | 3,356,233 | |||||||||
| Total non-current assets | 8,914,754 | 10,565,700 | 7,840,965 | |||||||||
| Total assets | 28,697,002 | 34,208,514 | 25,386,653 | |||||||||
| Liabilities and shareholders’ equity | ||||||||||||
| Current liabilities | ||||||||||||
| Bank loans, current portion | 381,083 | 598,848 | 444,414 | |||||||||
| Finance lease liabilities, current portion | 211,119 | 168,192 | 124,818 | |||||||||
| Accounts payable | 6,670,883 | 6,441,094 | 4,780,033 | |||||||||
| Operating lease liabilities, current portion | 670,186 | 1,240,129 | 920,318 | |||||||||
| Other payables | 429,637 | 3,058,781 | 2,269,967 | |||||||||
| Amount due to shareholders | 186,950 | — | — | |||||||||
| Amount due to a director | 8,600 | — | — | |||||||||
| Provision for income taxes | 1,045,383 | 1,177,119 | 873,558 | |||||||||
| Dividend payable | 2,000,000 | — | — | |||||||||
| Total current liabilities | 11,603,841 | 12,684,163 | 9,413,108 | |||||||||
| Non-current liabilities: | ||||||||||||
| Bank loans, non-current portion | 3,415,360 | 3,070,967 | 2,279,011 | |||||||||
| Finance lease liabilities, non-current portion | 494,006 | 379,481 | 281,619 | |||||||||
| Operating lease liabilities, non-current portion | 1,952,445 | 3,487,144 | 2,587,862 | |||||||||
| Deferred tax liabilities | 1,446 | 1,446 | 1,073 | |||||||||
| Total non-current liabilities | 5,863,257 | 6,939,038 | 5,149,565 | |||||||||
| Total liabilities | 17,467,098 | 19,623,201 | 14,562,673 | |||||||||
| Commitments and contingencies (Note 19) | — | — | — | |||||||||
| Shareholders’ equity | ||||||||||||
| Ordinary shares, US$0.0001 par value, authorized 500,000,000 shares, issued 12,500,000 shares outstanding as of March 31, 2023 and 2024, respectively* | 1,707 | 1,707 | 1,250 | |||||||||
| Additional paid-in capital | 3,377,293 | 3,377,293 | 2,506,340 | |||||||||
| Retained earnings | 7,850,904 | 11,206,313 | 8,316,390 | |||||||||
| Total shareholders’ equity | 11,229,904 | 14,585,313 | 10,823,980 | |||||||||
| Total liabilities and shareholders’ equity | 28,697,002 | 34,208,514 | 25,386,653 | |||||||||
20-F
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26 Jul 24
Annual report (foreign)
5:12pm
20-F
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26 Jul 24
Annual report (foreign)
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20-F
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26 Jul 24
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20-F
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26 Jul 24
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20-F
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26 Jul 24
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20-F
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26 Jul 24
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20-F
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26 Jul 24
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20-F
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26 Jul 24
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20-F
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26 Jul 24
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20-F
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26 Jul 24
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20-F
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26 Jul 24
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20-F
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26 Jul 24
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20-F
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26 Jul 24
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20-F
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26 Jul 24
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20-F
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26 Jul 24
Annual report (foreign)
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