v3.25.4
Leases
 6 Months Ended 12 Months Ended
Sep. 30, 2025
Mar. 31, 2025
Leases [Abstract]    
Leases

7. Leases

 

The Company leases office under non-cancelable operating lease agreement. Per the new lease standard ASC 842-10-55, this lease is treated as operating leases. Management determined the incremental borrowing rate was 3.0% for the lease that began in 2025 according to the current interest rate of the Company bank loan. This lease is on a fixed payment basis. None of the leases include contingent rentals.

 

Description of lease   Lease term

Office at Hung Hom, Hong Kong

   2 years from July 16, 2023 to July 15, 2025
Office at Hung Hom, Hong Kong   2 years from July 16, 2025 to July 15, 2027

 

(a) Amounts recognized in the unaudited condensed consolidated balance sheets:

 

   March 31,
2025		   September 30,
2025		   September 30,
2025		 
   HK$   HK$   US$ 
       (Unaudited)   (Unaudited) 
Right-of-use assets   134,352    726,918    93,424 
                
Operating lease liabilities – current   134,352    391,547    50,322 
Operating lease liabilities – non-current   
—
    335,371    43,102 
    134,352    726,918    93,424 
                
Weighted average remaining lease term (in years)   0.3    1.8      
Weighted average discount rate (%)   5.9    3.0      

 

For the six months ended September 30, 2025 and 2024, the Company incurred total operating lease expense of HK$204,000 (US$26,218) and HK$204,000, respectively.

 

(b) The following table sets forth the remaining contractual maturities of the Company:

 

    September 30,
2025		     September 30,
2025		  
    HK$     US$  
For the year ended March 31,            
2026     204,000       26,218  
2027     408,000       52,436  
2028(remaining 4 months)     136,000       17,479  
Total future lease payments     748,000       96,133  
Less: imputed interest     (21,082 )     (2,709 )
Present value of lease liabilities     726,918       93,424  

7. Leases

 

The Company leases office under non-cancelable operating lease agreement. Per the new lease standard ASC 842-10-55, this lease is treated as operating leases. Management determined the incremental borrowing rate was 5.9% for the lease that began in 2023 according to the Hong Kong bank best lending rate. This lease is on a fixed payment basis. None of the leases include contingent rentals.

 

Description of lease   Lease term
Office at Hung Hom, Hong Kong   3 years from July 16, 2020 to July 15, 2023
Office at Hung Hom, Hong Kong   2 years from July 16, 2023 to July 15, 2025

 

(a) Amounts recognized in the consolidated balance sheets:

   2024   2025   2025 
   HK$   HK$   US$ 
Right-of-use assets   522,011    134,352    17,269 
                
Operating lease liabilities – current   421,002    134,352    17,269 
Operating lease liabilities – non-current   101,009    
—
    
—
 
    522,011    134,352    17,269 
                
Weighted average remaining lease term (in years)   1.3    0.3      
Weighted average discount rate (%)   5.9    5.9      

 

For the years ended March 31, 2025 and 2024, the Company incurred total operating lease expense of HK$408,000 (US$52,443) and HK$457,000, respectively.

 

(b) The following table sets forth the remaining contractual maturities of the Company:

 

   HK$   US$ 
For the year ended March 31,        
2026 (remaining 4 months)   136,000    17,481 
Total future lease payments   136,000    17,481 
Less: imputed interest   (1,648)   (212)
Present value of lease liabilities   134,352    17,269