v3.25.1
Operating Lease
6 Months Ended 12 Months Ended
Sep. 30, 2024
Mar. 31, 2024
HCYC Group Company Limited [Member]    
Restructuring Cost and Reserve [Line Items]    
Operating Lease

NOTE 6 - OPERATING LEASE

 

 

The Company entered into a new office lease agreement on 2 August 2023 with an expiration date of August 2026, replacing the previous office lease terminated on 30 August 2023. As of September 30, 2024, the Company has one office lease. 

 

The table below presents the operating lease related assets and liabilities recorded on the balance sheets.

 

   September 30, 2024   March 31, 2024 
   (Unaudited)     
Operating lease assets:          
Operating lease right of use assets  $229,556   $286,475 
Total operating lease assets   229,556    286,475 
           
Operating lease obligations:          
Current operating lease liabilities   126,205    122,265 
Non-current operating lease liabilities   110,352    172,955 
Total operating lease obligations  $236,557   $295,220 

 

 

The unaudited weighted-average remaining lease term and the weighted-average discount rate of leases are as follows:

 

    September 30, 2024  
Weighted-average remaining lease term     1.8 years  
         
Weighted-average discount rate     5.0 %

 

 

The following table summarizes the maturity of operating lease liabilities as of September 30, 2023:

 

Periods ended September 30,   US$  
2025   $ 134,437  
2026     112,404  
Total lease payments     246,841  
Less: imputed interest     (10,284 )
Total lease liabilities(Unaudited)   $ 236,557  

 

NOTE 7 - OPERATING LEASE

 

 

The Company entered into a new office lease agreement on 2 August 2023 with an expiration date of August 2026, replacing the previous office lease terminated on 30 August 2023. As of March 31, 2024, the Company has one office lease.

 

For the years ended March 31, 2024 and 2023, the lease expenses were $107,683 and $66,140, respectively.

 

 

The table below presents the operating lease related assets and liabilities recorded on the balance sheets.

 

   March 31, 2024   March 31, 2023 
         
Operating lease assets:          
Operating lease right of use assets  $286,475   $102,077 
Total operating lease assets  $286,475   $102,077 
           
Operating lease obligations:          
Current operating lease liabilities  $122,265   $62,395 
Noncurrent operating lease liabilities   172,955    45,881 
Total operating lease obligations  $295,220   $108,276 

 

The weighted-average remaining lease term and the weighted-average discount rate of leases are as follows:

 

   March 31, 2024 
Weighted-average remaining lease term   2.3 years 
      
Weighted-average discount rate   5.0%

 

The following table summarizes the maturity of operating lease liabilities as of March 31, 2024:

 

Years ending March 31,  US$ 
2025  $133,465 
2026   133,465 
2027   44,858 
Total lease payments   311,788 
Less: imputed interest   (16,568)
Total lease liabilities  $295,220