INTEREST BEARING BANK BORROWINGS |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes and other explanatory information [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INTEREST BEARING BANK BORROWINGS | NOTE – 18 INTEREST BEARING BANK BORROWINGS
During the year ended March 31, 2024, the Group entered into loan agreements with a financial institution in Hong Kong to borrow loans of HK$1,900,000 and HK$2,877,679, respectively which bears annual interest at a rate of flat rate 5.04% and flat rate 5.16% per annum, respectively, with due date in May 2026 and April 2029, respectively. During the year ended March 31, 2025, the Group entered into loan agreements with a financial institution in Hong Kong to borrow loans of HK$2,877,679 and HK$826,142, respectively which bears annual interest at a rate of flat rate 5.16% and 0.43% per annum, respectively, with due date in April 2029 and February 2031, respectively, and loan facilities agreement for bank overdrafts and account payable financing (“overdrafts”) of HKD7,600,000, which bears annual interest at a rate of 1% per annum over prime rate on the outstanding amount from the drawn down until repayment in full. During the year ended March 31, 2026, the Group entered into loan agreements with a financial institution in Hong Kong to borrow loans of HK$6,400,000, which bears annual interest at a rate of flat rate 9.0% per annum, respectively, with due date in February 2031.
As of March 31, 2025 and 2026, the bank loans of the Company were secured by personal guarantee from Ms. Seto, the director and shareholder of the Company.
Interest related to the bank loans and facilities was HK$221,892, HK$626,384 and HK$814,595 for the years ended March 31, 2024, 2025 and 2026, respectively.
Principal repayments to maturity by fiscal year are as follows:
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