| Schedule of Deposits, Prepayments and Other Receivables |
Deposits, prepayments and other
receivables consisted of the following as of September 30, 2025 and March 31,2025:
| |
|
March 31,
2025 |
|
|
September 30,
2025 |
|
|
September 30,
2025 |
|
| |
|
HK$ |
|
|
HK$ |
|
|
US$ |
|
| |
|
|
|
|
(Unaudited) |
|
|
(Unaudited) |
|
| Rental deposits |
|
|
45,960 |
|
|
|
44,500 |
|
|
|
5,719 |
|
| Prepayments - current |
|
|
|
|
|
|
|
|
|
|
|
|
| – Deferred Offering Cost |
|
|
— |
|
|
|
389,015 |
|
|
|
49,996 |
|
| – Prepayments for services |
|
|
1,026,124 |
|
|
|
4,330,936 |
|
|
|
556,611 |
|
| – Prepayments for exhibition cost (a) |
|
|
15,292,500 |
|
|
|
9,750,000 |
|
|
|
1,253,068 |
|
| Less: Impairment on the prepayment |
|
|
(10,593,902 |
) |
|
|
(2,574,641 |
) |
|
|
(330,892 |
) |
| Prepayments – non current (b) |
|
|
8,190,000 |
|
|
|
8,190,000 |
|
|
|
1,052,577 |
|
| Other receivables |
|
|
900 |
|
|
|
1,799 |
|
|
|
232 |
|
| Deposits, Prepayments and Other Receivables, net |
|
|
13,961,582 |
|
|
|
20,131,609 |
|
|
|
2,587,311 |
|
| | (a) | CTRL Solutions entered into five (5) agreements with the same exhibition service provider, including four (4) Cooperative Agreements that amount to the total value of HK$15,292,500, and one (1) Exhibition Events Joint Investment Agreement having the value of HK$6,250,000. After the management reviewed the exhibition that already held and projected results of other exhibitions, the management impaired the prepayment of HK$10,593,90 (US$ 1,361,702, which represents 50% share of the Company of the net loss expected from these exhibitions as per the investment agreements.) as of March 31, 2025. During six months ended September 30, 2025, three exhibitions have been completed with HK$ 3.7 million revenues recognized and HK$ 8.0 million of impairment reversed. |
| (b) | On March 7, 2025, Ctrl Game entered into a game development agreement with a service provider to develop
mobile games platform which amounted to US$2.1 million. As at the day of this annual report, CTRL Game settled HK$8,190,000 (US$1,052,713).
As of September 30, 2025 and March 31, 2025, no progress of the game development and the management classified as non-current prepayment. |
|
Deposits, prepayments and other
receivables consisted of the following as of March 31:
| | |
2024 | | |
2025 | | |
2025 | |
| | |
HK$ | | |
HK$ | | |
US$ | |
| Rental deposits | |
| 15,000 | | |
| 45,960 | | |
| 5,908 | |
| Prepayments - current | |
| | | |
| | | |
| | |
| – Deferred IPO Cost | |
| 4,546,890 | | |
| — | | |
| — | |
| – Prepayments for services | |
| 116,446 | | |
| 1,026,124 | | |
| 131,894 | |
| – Prepayments for exhibition cost (a) | |
| | | |
| 15,292,500 | | |
| 1,965,642 | |
| Less: Impairment on the prepayment (a) | |
| — | | |
| (10,593,902 | ) | |
| (1,361,702 | ) |
| Prepayments – non current (b) | |
| — | | |
| 8,190,000 | | |
| 1,052,713 | |
| Other receivables | |
| 902 | | |
| 900 | | |
| 116 | |
| Deposits, Prepayments and Other Receivables, net | |
| 4,679,238 | | |
| 13,961,582 | | |
| 1,794,571 | |
| (a) | On February 14, 2025, Ctrl Solution entered into four cooperative investment agreements with an exhibition
service provider. The total value of the four cooperative investment agreements is HKD 15,292,500. The exhibition partner will coordinate
and organize four exhibitions during the year ending March 31, 2026. After the management reviewed the exhibition that already held and
projected results of other exhibitions, the management impaired the prepayment of HK$10,593,902 (US$ 1,361,702), which represents 50% share
of the Company of the net loss expected from these exhibitions as per the investment agreements. |
| (b) | On March 7, 2025, Ctrl Game entered into a game development agreement with a service provider to develop
mobile games platform which amounted to US$2.1 million. As at the day of this annual report, CTRL Game settled HK$8,190,000 (US$1,052,713).
As of March 31, 2025, no progress of the game development and the management classified as non-current prepayment. |
|