v3.26.1
RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES
 12 Months Ended
Apr. 30, 2026
Right-of-use Assets And Operating Lease Liabilities  
RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES
7. RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES

 

  (a) Right of use assets

 

The carrying amount of the Company’s right of use assets and the movement during the year are as follows:

 

   2026   2025   2024 
As of May 1  $47,184   $-   $- 
Addition   30,338    53,925    - 
Derecognition upon disposal of Barentsz HK   (44,937)          
Amortization expenses(1)   (19,561)   (6,741)   - 
As of April 30  $13,024   $47,184   $- 

 

 

(1)The right of use assets was amortized over the lease term, i.e. 2 years.

 

  (b) Lease liability

 

   2026   2025   2024 
As of May 1  $45,325   $-   $- 
Addition   30,338    53,925    - 
Interest   1,147    887    - 
Derecognition upon disposal of Barentsz HK   (43,350)   -    - 
Repayment   (20,436)   (9,487)   - 
As of April 30  $13,024   $45,325   $- 

 

  (c) The following table summarizes the maturity of operating lease liabilities

   2026   2025   2024 
Lease payments within a period of more than one year but not more than two years  $-   $18,974   $- 
Lease payments within one year   13,282    28,462    - 
Less: Interest:   (258)   (2,111)   - 
As of April 30  $13,024   $45,325   $- 

 

  (d) Other supplemental information about the Company’s operating lease as of April 30,

   April 30, 
   2026   2025   2024 
Weighted average discount rate   5.25%   5.25%   - 
Weighted average remaining lease term (years)   0.67    1.67    - 

 

During the years ended April 30, 2026 and 2025, the Company incurred lease expense of US$20,510 and HK$74,000 (approximately US$9,487), respectively (during the year ended April 30, 2024: $nil).

 

The remaining contractual maturities of the Company’s operating lease liabilities as of April 30, 2026 are within one year.