Prepayments and Other Current Assets (Tables) - HCYC Group Company Limited [Member]
|
6 Months Ended |
12 Months Ended |
Sep. 30, 2024 |
Mar. 31, 2024 |
| Restructuring Cost and Reserve [Line Items] |
|
|
| Schedule of Prepayments and Other Current Assets |
Prepaid
expenses and other current assets consist of the following:
Schedule
of Prepayments and Other Current Assets
| | |
September
30, 2024 | | |
March
31, 2024 | |
| | |
(Unaudited) | | |
| |
| Prepaid expenses (1) | |
$ | 33,189 | | |
$ | 50,517 | |
| Other current asset | |
| 5,930 | | |
| 1,852 | |
| Total | |
$ | 39,119 | | |
$ | 52,369 | |
| (1) |
Prepaid
expenses represent the prepayments for leasehold restoration fees, insurance fees, IT supports, and other services that amortize
within 12 months. |
|
Prepaid
expenses and other current assets consist of the following:
Schedule
of Prepayments and Other Current Assets
| | |
March
31, 2024 | | |
March
31, 2023 | |
| Prepaid expenses (1) | |
$ | 50,517 | | |
$ | 43,252 | |
| Other current asset | |
| 1,852 | | |
| 27 | |
| Total | |
$ | 52,369 | | |
$ | 43,279 | |
| (1) |
Prepaid
expenses represent the prepayments for insurance fees, IT supports, and other services that amortize within 12 months. |
|
| Schedule of Due to Related Parties Transaction Balances |
Schedule
of Due to Related Parties Transaction Balances
| Name | |
September
30, 2024 | | |
March
31, 2024 | |
| | |
(Unaudited) | | |
| |
| Non-interest-bearing borrowings (1) | |
| | | |
| | |
| Ms. Ding Xiameng (1) | |
| 648,151 | | |
| 582,471 | |
| Mr. Kwok Wai Man (1) | |
| 3,339 | | |
| 5,038 | |
| Non interest bearing borrowings
(1) | |
| 651,490 | | |
| 587,509 | |
| Payable to related party related to referral service | |
| | | |
| | |
| Mr. Kwok Wai Man | |
| 2,963 | | |
| 1,400 | |
| | |
| | | |
| | |
| Total due to related parties | |
| 654,453 | | |
| 588,909 | |
| (1) |
As
of September 30 and March 31, 2024, the balance of due to related parties was comprised of the Company’s borrowings from related
parties and was used for working capital during the Company’s normal course of business. Such advance was non-interest bearing
and due on demand. |
|
Schedule
of Due to Related Parties Transaction Balances
| Name | |
March
31, 2024 | | |
March
31, 2023 | |
| Non-interest-bearing borrowings (1) | |
| | | |
| | |
| Ms. Xiameng Ding (1) | |
$ | 582,471 | | |
$ | 82,554 | |
| Mr. Kwok Wai Man (1) | |
| 5,037 | | |
| 3,243 | |
| Non
interest bearing borrowings (1) | |
$ | 587,508 | | |
$ | 85,797 | |
| Payable to related party related to referral service | |
| | | |
| | |
| Mr. Kwok Wai Man | |
$ | 1,400 | | |
| - | |
| | |
| | | |
| | |
| Total due to related parties | |
$ | 588,908 | | |
$ | 85,797 | |
| (1) |
As
of March 31, 2024 and 2023, the balances of due to related parties were comprised of the Company’s borrowings from related
parties and was used for working capital during the Company’s normal course of business. Such advance was non-interest bearing
and due on demand. |
|
| Schedule of Related Parties Transactions |
Schedule
of Related Parties Transactions
| Name | |
2024 | | |
2023 | |
| | |
For the six months ended September
30, | |
| Name | |
2024 | | |
2023 | |
| | |
(Unaudited) | | |
(Unaudited) | |
| Purchase of referral service | |
| | | |
| | |
| Mr. Kwok Wai Man | |
$ | 24,221 | | |
$ | 26,321 | |
| | |
| | | |
| | |
| Total | |
$ | 24,221 | | |
$ | 26,321 | |
|
Schedule
of Related Parties Transactions
| | |
2024 | | |
2023 | |
| | |
For the
years ended March 31, | |
| | |
2024 | | |
2023 | |
| Purchase of referral service (1) | |
| | |
| |
| Summit Planned Ltd (1) | |
$ | - | | |
$ | 155,979 | |
| Mr. Kwok Wai Man (1) | |
| 37,279 | | |
| - | |
| Total (1) | |
$ | 37,279 | | |
$ | 155,979 | |
| Purchase of referral service | |
$ | 37,279 | | |
$ | 155,979 | |
| | |
| | | |
| | |
| Sale of investment in an affiliate (2) | |
| | | |
| | |
| Ms. Ding Xiameng (2) | |
$ | - | | |
$ | 199,238 | |
| Total (2) | |
$ | 37,279 | | |
$ | 199,238 | |
| Sale of investment in an affiliate | |
$ | 37,279 | | |
$ | 199,238 | |
| (1) | | The
Company has entered into agreements with two related parties, Summit Planned Ltd and Mr.
Kwok Wai Man, pursuant to which two related parties are obligated to facilitate the Company’s
brokerage business by referring potential insurance policyholders to the Company and are
entitled with the commissions for the insurance policies bought by those policyholders when
become effective |
| (2) | | The
Company sold the 340,000
ordinary
shares in SGI Group Limited to Ms. Xiameng Ding on June 15, 2022, the consideration of the
shares is HKD 1,564,000(approximately
$199,238). |
|