CONTRACT ASSETS/(LIABILITIES)

12 Months Ended

Mar. 31, 2025

NOTE 4. CONTRACT ASSETS/(LIABILITIES)

Projects with performance obligations recognized over time that have revenue recognized to date in excess of cumulative billings are reported on the Company’s balance sheets as “Contract assets”. Provisions for estimated losses of contract assets on uncompleted contracts are made in the period in which such losses are determined. Contract assets that have billing terms with unconditional rights to be billed beyond one year are classified as non-current assets.

Contract assets consisted of the following at March 31, 2025 and 2024:

SCHEDULE OF CONTRACT ASSETS

	March 31, 2025			March 31, 2024
Revenue recognized to date	$	54,113		$	85,469
Less: progress billings to date		(45,659	)		(40,011	)
Exchange difference		12			(3	)
Contract assets	$	8,466		$	45,455
Contract assets, current	$	8,466		$	45,455

Contract liabilities consisted of the following at March 31, 2025 and 2024:

SCHEDULE OF CONTRACT LIABILITIES

		March 31, 2025				March 31, 2024
Billings in advance of performance obligation under contracts		$	131,564			$	101,718

Contract liabilities related to contracts are balances due to customers under contracts. These arise if a particular milestone payment exceeds the revenue recognized to date under the cost-to-cost method.

The movement in contract liabilities is as follows:

	March 31, 2025			March 31, 2024
Beginning Balance	$	101,718		$	62,779
Decrease in contract liabilities as a result of recognizing revenue during the period was included in the contract liabilities at the beginning of the period		(47,095	)		(52,755	)
Increase in contract liabilities as a result of billings in advance of performance obligation under contracts		76,343			91,499
Exchange difference		598			195
Ending Balance	$	131,564		$	101,718