v3.26.1
RELATED PARTY TRANSACTIONS AND BALANCES
 12 Months Ended
Mar. 31, 2026
Notes and other explanatory information [abstract]  
RELATED PARTY TRANSACTIONS AND BALANCES

NOTE – 21 RELATED PARTY TRANSACTIONS AND BALANCES

 

The related party of the Company with whom transactions are reported in these financial statements are as follows:

 

Name of Individual  Relationship with the Company
Ms. Seto Wai Yue  Shareholder and Director of the Company
    
Exit (HK) Limited  Ms. Seto is a 40% shareholder and sole director of Exit (HK)
    
Earthling Catering Limited  Ms. Seto is a 64% shareholder and a director of Earthling
    
Exit Catering Limited  Ms. Seto was a 51% shareholder and director of Exit Catering Limited
(Exit Catering Limited was deregistered during the year ended Maech 31, 2026)
    
Exit Operations Limited  Exit Catering Limited was a 60% shareholder and director of Exit Operations Limited
(Following the deregistration of Exit Catering Limited during the year months ended March 31, 2026, Ms. Seto’s beneficial interest in Exit Operations Limited was lost)
    
I Dao Cao Limited  Brother of Ms. Seto is the sole shareholder and director of I Dao Cao Limited

 

Amount due from/(to) a shareholder

SCHEDULE OF RELATED PARTY TRANSACTIONS

       
   As of March 31, 
   2025   2026 
   HKD   HKD 
Seto Wai Yue  $(1,839,193)  $(3,645,293)

 

On April 10, 2024, Ms. Seto Wai Yue entered into an interest-free loan facility agreement with TIL, for a revolving loan facility agreement of up to HK$12,000,000 for the purposes of paying the costs and expenses in connection with the offering. As of March 31, 2026, loan amount from Ms. Seto is approximately HK$1.8 million. The balances are unsecured, non-interest bearing, and payable on demand. The balances were recorded in current assets/liabilities.

 

During the years ended March 31, 2024, 2025 and 2026, the proceeds and payments to a shareholder are as follows

 

 SCHEDULE OF PROCEEDS AND PAYMENTS TO SHAREHOLDER

          
   Years ended March 31, 
   2024   2025   2026 
   HKD   HKD   HKD 
Proceeds from a shareholder  $18,039,849   $9,177,530   $7,213,210 
Payments to a shareholder   (21,742,460)   (4,387,903)   (5,407,110)

 

Amount due from/(to) a related party

 

 SCHEDULE OF AMOUNT DUE FROM TO RELATED PARTY

       
   As of   As of 
   March 31, 2025   March 31, 2026 
   HKD   HKD 
I Dao Cao Limited  $(288,350)  $- 
Exit Operations Limited  $1,219,865   $- 

 

 

As of March 31, 2025, the amount due from I Dao Cao represented deposits for concert tickets for resell. The relevant concert tickets will be delivered before the concert commenced. The amount due from Exit Operations Limited represented deposits for café operation for events and will be used up when provision of café services for upcoming events.

 

Revenue

SCHEDULE OF REVENUE FROM RELATED PARTY  

          
   Years ended March 31, 
   2024   2025   2026 
   HKD   HKD   HKD 
Exit (HK) Limited               
- Provision of event management services   -    -    - 
- Sales of goods   -    -    - 
- Design and others   20,000    -    - 
Exit Catering Limited – sale of goods   317,586    -    - 
Exit Operations Limited               
- Revenue of café operation   -    431,509    - 
- Sales of goods   -    20,250    - 
Earthling Catering Limited – design and others   -    -    - 
Revenues, related party  $337,586   $451,759   $- 

 

Cost of Revenue

 

SCHEDULE OF COST REVENUE 

          
   Years ended March 31, 
   2024   2025   2026 
   HKD   HKD   HKD 
Exit Operations Limited –cost of café operation  $-   $264,350   $- 
Exit HK Limited – royalty fee  $-   $-   $230,759 

 

Defined contribution insurance to Ms. Seto

 

During the year ended March 31, 2025, the Company purchased insurance for Ms. Seto with defined contribution of US$40,000 per annum for the period of five years and recorded as selling, general and administrative expenses.

 

Dividend

 

For the year ended March 31, 2024, Trendic declared and paid a dividend of HK$5,500,000 (approximately US$706,000) to its shareholders registered as such on March 30, 2024. The dividend was offset against amount due from a shareholder during the year ended March 31, 2024. There is no dividend for the years ended March 31, 2025 and 2026.