| SCHEDULE OF GENERAL AND ADMINISTRATIVE EXPENSES |
SCHEDULE OF GENERAL AND ADMINISTRATIVE EXPENSES
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Year ended | | |
Year ended | | |
Year ended | |
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Notes | |
31 March 2025 | | |
31 March 2024 | | |
31 March 2023 | |
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USD | | |
USD | | |
USD | |
| Employees’ benefits | |
(a) | |
| 4,817,469 | | |
| 5,043,962 | | |
| 5,025,450 | |
| Professional fees | |
(b) | |
| 2,093,658 | | |
| 531,245 | | |
| 275,234 | |
| IT development and maintenance support | |
(c) | |
| 1,452,730 | | |
| 2,121,539 | | |
| 2,661,511 | |
| Audit fee | |
(d) | |
| 390,349 | | |
| 594,224 | | |
| 22,294 | |
| Travelling expenses | |
(e) | |
| 377,922 | | |
| 514,106 | | |
| 28,935 | |
| Share-based payments expenses on anti-dilution issuance of Preferred Shares | |
(f) | |
| 369,648 | | |
| - | | |
| - | |
| Amortization and depreciation | |
(g) | |
| 125,575 | | |
| 103,276 | | |
| 1,007 | |
| Others | |
(h) | |
| 717,163 | | |
| 454,993 | | |
| 886,060 | |
| General and administrative
expense | |
| |
| 10,344,514 | | |
| 9,363,345 | | |
| 8,900,491 | |
The
by-nature classification of general and administrative expenses for the year ended 31 March 2023 and 2024 has been represented to conform
with the presentation for the year ended 31 March 2025.
(a)
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Year ended | | |
Year ended | | |
Year ended | |
| | |
31 March 2025 | | |
31 March 2024 | | |
31 March 2023 | |
| | |
USD | | |
USD | | |
USD | |
| Basic salaries, allowances and all benefits-in-kind | |
| 3,865,438 | | |
| 3,581,537 | | |
| 4,261,273 | |
| Pension costs - defined contribution plans | |
| 92,346 | | |
| 109,590 | | |
| 176,356 | |
| Share-based payments | |
| 859,685 | | |
| 1,352,835 | | |
| 587,821 | |
| Total employees’ benefits | |
| 4,817,469 | | |
| 5,043,962 | | |
| 5,025,450 | |
| (a) |
The
above includes the cost of both employees and contractors. At 31 March 2025, the Company had 26 employees and 9 contractors (2024:
22 employees and 7 contractors; 2023: 26 employees and 10 contractors). |
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| (b) |
The
increases in professional fees for the years ended 31 March 2024 and 2025 were primarily attributable to legal and professional services
relating to the Company’s IPO. Upon the successful closing of the IPO, certain IPO related costs were capitalized
against the share premium account with the remaining balance of the IPO related costs recorded as an expense. |
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| (c) |
IT
development and maintenance support costs relate, primarily, to those associated with a third party that contributes to researching,
developing and maintaining the Group commercial products. The costs also include server expenses for hosting the products. Included
in IT development and maintenance support, the Group incurred research and development expenses of $831,088 for the year ended 31
March 2025 (2024: $1,334,865; 2023: $2,089,914) and no research and development expenditure is recognized as an internally generated
intangible asset for all years. |
| (d) |
For
the year ended 31 March 2024 and 2025, significant increase in audit fees was due to the
fees associated with the Public Company Accounting Oversight Board (“PCAOB”)
audits of the Company’s consolidated financial statements for the year ended 31 March
2025, 2024 and 2023 (the 2023 PCAOB audit was conducted in 2024, hence the associated costs
are reflected 2024).
For
the year ended 31 March 2023, audit fees related to local statutory audits. |
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| (e) |
Whilst
travelling expenses were lower than the year ended March 2024, the Company continued to travel with a focus on business development,
The Company also travelled in relation to the IPO. |
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| (f) |
In
connection with the issuance 151 Preferred Shares of DSL triggered by the Capital Raise, share-based payments expenses of $369,648
are recognized during the year ended 31 March 2025 (2024 and 2023: $Nil). |
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| (g) |
The
increase during the year ended 31 March 2024 is primarily due to amortization expense in connection with the new office lease in
Monaco entered into by the Group. The 2025 amortization represents a full year of the office lease. |
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| (h) |
Other
costs include recruitment fees, insurance, bank charges, general office expenses, investor relations consultant fees, marketing and
others |
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