Company: LSEB
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001199835-25-000233
Chunk: 286

Company: LSEB Creative Corp.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 2
Chunk 286
---
12 months.

Advertising
& Promotions

Advertising
costs are recognized as expense in Statement of operations for the period when incurred. For the year ending March 31, 2025, company
recognized $24,942 (March 31, 2024: $45,662 )

Use
of Estimates

The
preparation of audited financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements
and the reported amounts of revenues and expenses during the reporting period. Areas involving significant estimates and assumptions
include deferred income tax assets and related valuation allowance, valuation of convertible notes, warrants and accruals. Actual results
could differ from those estimates. These estimates are reviewed periodically, and, as adjustments become necessary, they are reported
in earnings in the period in which they become known.

    Page | 7

    LSEB
    Creative Corp.
  
    Notes
    to Consolidated Financial Statements
  
    For
    the Years Ending March 31, 2025 and 2024

4.SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (Continued.)

Loss
Per Share

The
Company has adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”)
Topic 260-10 which provides for calculation of “basic” and “diluted” earnings per share. Basic earnings per share
includes no dilution and is computed by dividing net income or loss available to common stockholders by the weighted average number of
common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in
the earnings of an entity. Diluted earnings per share exclude all potentially dilutive shares if their effect is anti-dilutive. There
were no potentially dilutive shares outstanding as at each period end.

Inventory

Inventories
are stated at the lower of cost and net realizable value. Cost is determined on a first-in, first-out basis. The net realizable value
is the estimated selling price in the ordinary course of business, less the cost of completion and selling expenses. As of March 31,
2025 the Company has $184,461 in inventory valued at cost. Inventory is finished goods excluding freight costs. The Company periodically
reviews its inventories and makes a provision as necessary to appropriately value goods that are obsolete