Company: GRAN
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069627
Chunk: 169

Company: Grande Group Ltd/HK
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 169
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 to various legal actions arising in the ordinary course of business. The majority of these claims
and proceedings related to or arise from commercial disputes. The Company first determine whether a loss from a claim is probable, and
if it is reasonable to estimate the potential loss. The Company accrues costs associated with these matters when they become probable,
and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. Also,
the Company disclose a range of possible losses, if a loss from a claim is probable but the amount of loss cannot be reasonably estimated,
which is in line with the 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-length basis, as the requisite conditions of competitive, free-market dealings 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-length transactions unless such representations can be substantiated.”

Foreign
currency

The accompanying consolidated financial statements
are presented in United States dollar (“$”). The functional currency of the Company and all the other subsidiaries is
$ or Hong Kong Dollar (“ HK$”).

The
consolidated financial statements of the Company are translated from the functional currency into $. Assets and liabilities denominated
in HK$ are translated into $ using the applicable exchange rates at the balance sheet date. Equity accounts other than earnings generated
in current period are translated into $ at the appropriate historical rates. Revenues, expenses, gains and losses are translated into
$ at the average rates of exchange for the year. The resulting foreign currency translation adjustments are recorded in accumulated other
comprehensive loss as a component of shareholders’ equity.. The year-end and year-average exchange rates are as follows:

  March 31,                                                                                    
  2025                                                     2024                      2023      
  Year-end                   Year-average                  Year-end                  Year-end  
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