Company: MAGH
Filing Date: 2025-05-28
Form Type: F-1
Source: 0001641172-25-012644
Chunk: 197

Company: Magnitude International Ltd
Filing Date: 2025-05-28
Form: F-1
Chunk 197
---
 translated using the exchange rates at the dates of the transactions); and

(iii) all resulting currency translation differences are recognized in other comprehensive income and accumulated in the currency translation reserve. These currency translation differences are reclassified to profit or loss on disposal or partial disposal with loss of control of the foreign operation.

| F-13 |

<div align='center'>MAGNITUDE INTERNATIONAL LTD AND ITS SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>

| 2. | Material                                  
 accounting policy information (Continued) |

| 2.6 | Property, plant 
 and equipment   |

All items of property, plant and equipment are initially recorded at cost. Subsequent to recognition, property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses. The cost of property, plant and equipment includes its purchase price and any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Dismantlement, removal or restoration costs are included as part of the cost of property, plant and equipment if the obligation for dismantlement, removal or restoration is incurred as a consequence of acquiring or using the property, plant and equipment.

Depreciation is calculated using the straight-line method to allocate depreciable amounts over their estimated useful lives. The estimated useful lives are as follows:

|              |     | Useful 
 lives  |
| Leasehold    
 property     |     | 35     
 years  |
| Office       
 equipment    |     | 5      
 years  |
| Furniture    
 and fittings |     | 5      
 years  |
| Renovation   |     | 5      
 years  |
| Motor        
 vehicles     |     | 5      
 years  |
| Computer     
 software     |     | 2      
 years  |
| Computer     |     | 1      
 year   |
| Testing      
 equipment    |     | 1      
 year   |

Fully depreciated assets are retained in the financial statements until they are no longer in use and no further change for depreciation is needed in respect of these assets.

The residual value, useful lives and depreciation method are reviewed at the end of each reporting period, and adjusted prospectively, if appropriate.

An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss on derecognition of the asset is included in profit or loss in the