Company: LHI
Filing Date: 2025-02-14
Form Type: DRS/A
Source: 0001213900-25-014190
Chunk: 278

Company: Living Homeopathy International Ltd.
Filing Date: 2025-02-14
Form: DRS/A
Chunk 278
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 |     | 100%        |     | Sales of healthcare products,                                 
 personal care products and water filters and related products |

Note 2 – Summary of significant accounting policies

The accompanying unaudited interim condensed
consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States
of America (“U.S. GAAP”) and have been consistently applied. The unaudited interim condensed consolidated financial statements
do not include all the information and footnotes required by the U.S. GAAP for complete financial statements. Certain information and
note disclosures normally included in the annual financial statements prepared in accordance with the U.S. GAAP have been condensed or
omitted consistent with Article 10 of Regulation S-X. In the opinion of the Company’s management, the unaudited interim condensed
consolidated financial statements have been prepared on the same basis as the audited financial statements and include all adjustments,
in normal recurring nature, as necessary for the fair statement of the Company’s financial position as of September 30, 2024, and
results of operations and cash flows for the six months ended September 30, 2024 and 2023. The audited consolidated balance sheet as
of March 31, 2024 has been derived from the audited financial statements at that date but does not include all the information and footnotes
required by the U.S. GAAP. Interim results of operations are not necessarily indicative of the results expected for the full fiscal year
or for any future period. These financial statements should be read in conjunction with the audited consolidated financial statements
as of and for the years ended March 31, 2024 and 2023, and related notes included in the Company’s audited consolidated financial
statements. The unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly-owned
subsidiaries. A subsidiary is an entity (including a structured entity), directly or indirectly, controlled by the Company. The financial
statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. All significant
inter-company balances and transactions between the Company and its subsidiaries are eliminated upon consolidation.

The Company uses United States
Dollar (“$” or “US$”) as its reporting currency. The functional currency of the Company and Living Global is
US$, while Living HK is Hong Kong dollars (“HKD”), which is its local currency based on the criteria of ASC 830, “