Company: GRAN
Filing Date: 2025-04-09
Form Type: F-1/A
Source: 0001213900-25-030179
Chunk: 255

Company: Grande Group Ltd/HK
Filing Date: 2025-04-09
Form: F-1/A
Chunk 255
---
 applicable requirements of ASC 450, “Contingencies”. The Company’s management does not expect any liability from the disposition of such claims and litigation individually or in the aggregate would have a material adverse impact on the Company’s consolidated financial position, results of operations and cash flows. Related parties The Company adopted ASC 850, “Related Party Disclosures”, for the identification of related parties and disclosure of related party transactions. Per ASC 850 -10-50-5: “Transactions involving related parties cannot be presumed to be carried out on an arm’s -lengthbasis, as the requisite conditions of competitive, free -marketdealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s -lengthtransactions unless such representations can be substantiated.” Foreign currency translation The accompanying consolidated financial statements are presented in United States dollar (“$”). The functional currency of Grande Capital is the Hong Kong dollar (“HK$”). The assets and liabilities of Grande Capital are translated into $ from HK$ at the year -endexchange rate. Its revenues and expenses are translated at the average exchange rate during the year. Capital accounts are translated at their historical exchange rates when the capital transactions occurred. The year -endand year -averageexchange rates are as follows:

|        |     | March 31, |     |              |     |          |     |              |
|        |     |      2024 |     |              |     |     2023 |     |              |
|        |     |  Year-end |     | Year-average |     | Year-end |     | Year-average |
| $: HK$ |     |    7.8000 |     |       7.8000 |     |   7.8000 |     |       7.8000 |

Adoption of new accounting standard In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014 -09, “Revenue from Contracts with Customers” (Topic 606). ASU 2014 -09provides a single comprehensive revenue recognition framework and supersedes almost all existing revenue recognition guidance including industry -specificrevenue guidance. Included in the new principle -basedrevenue recognition model are changes to the basis for determining the timing of revenue recognition. In addition, the standard expands and improves revenue

F-9

NOTE 2 — SUMMARY OF