Company: MAGH
Filing Date: 2025-01-02
Form Type: DRS
Source: 0001493152-25-000010
Chunk: 78

Company: Magnitude International Ltd
Filing Date: 2025-01-02
Form: DRS
Chunk 78
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     USD |
| April                             
 30, 2024                          |     |                                                    |     |     |                                           |     |     |                     |         |     |       |         |     |       |         |
| Financial                         
 assets:                           |     |                                                    |     |     |                                           |     |     |                     |         |     |       |         |     |       |         |
| At                                
 fair value through profit or loss |     |                                                    | -   |     |                                           | -   |     |                     | 439,817 |     |       | 439,817 |     |       | 322,541 |
| April                             
 30, 2023                          |     |                                                    |     |     |                                           |     |     |                     |         |     |       |         |     |       |         |
| Financial                         
 assets:                           |     |                                                    |     |     |                                           |     |     |                     |         |     |       |         |     |       |         |
| At                                
 fair value through profit or loss |     |                                                    | -   |     |                                           | -   |     |                     | 172,412 |     |       | 172,412 |     |       | 126,439 |

The Group has no financial instruments under Level 1 and Level 2 in both financial years. The fair value of the keyman life insurance included unobservable inputs that are not developed by the Group. The fair value of the financial instruments is determined using the annual statement of value of the insurance policy provided by insurer without adjustment. There have no changes in the valuation techniques during the financial year.

Cash and cash equivalents, trade and other receivables, contract assets, net, bank loans — current portion, lease liabilities — current portion, trade and other payables are financial assets and liabilities and are subject to fair value measurement. The Company’s financial assets and liabilities are short-term in nature, therefore, management believes their carrying value approximate their fair value.

| ● | Leases |

The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

As lessee

The Group applies a single recognition
and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognizeslease liabilities representing the obligations to make lease payments and right-of-use assets representing the