Notes to the Unaudited Financial Statements

Marina Bay Trading Pte Ltd (UEN 202312345A) is a private company limited by shares, incorporated and domiciled in Singapore. The Company qualifies as an exempted private company under the Companies Act.

The principal activities of the Company are wholesale trading and the provision of related services.

These unaudited financial statements have been prepared in accordance with the Singapore Financial Reporting Standards (SFRS) for Small Entities, and under the historical cost convention.

The financial statements are presented in Singapore Dollars (SGD), which is the Company's functional currency.

Revenue is recognised upon transfer of control of goods or services to the customer, at the consideration the Company expects to be entitled to.

Operating expenses comprise salaries and CPF contributions, rental, bank charges, and other miscellaneous administrative costs. See the Statement of Profit or Loss for the breakdown.

Income tax expense is provided based on estimated chargeable income for the year at the prevailing Singapore corporate tax rate of 17%, after applicable rebates and exemptions.

There were no material transactions with related parties during the financial year other than those disclosed in the financial statements.