Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 167

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 19
Chunk 167
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movement in unrecognized deferred tax assets is shown below:

Schedule
of unrecognized deferred tax assets

                              Capital          Tax losses      Donations                   
                              allowances                                                   
                              SGD                     SGD            SGD                   
 ───────────────────────────────────────────────────────────────────────────────────────────
  At May 1, 2022              138,214           2,222,748          5,000        2,365,962  
  Addition                    -                 1,273,144          8,750        1,281,894  
  At April 30, 2023           138,214           3,495,892         13,750        3,647,856  
  (Utilization)/Addition      -               ( 1,540,331         23,738      ( 1,516,593  
  At April 30, 2024           138,214           1,955,561         37,488        2,131,263  
  Addition/(Utilization)      22,367            ( 397,889          5,500        ( 370,022  
  At April 30, 2025           160,581           1,557,672         42,988        1,761,241  

Schedule of deferred tax assets
not recognized

                                          April 30, 2023                   April 30, 2024                   April 30, 2025                   April 30, 2025  
                                          SGD                              SGD                              SGD                              USD             
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Deferred tax assets not recognized                          620,136                          362,315                          299,411                      

Deferred
tax assets have not been recognized in respect of the capital allowances, unutilized tax losses and donations because it is not probable
that future taxable profit will be available against which the Group canutilizethe benefits due to unpredictability of future profit streams. There is no expiry
date for the capital allowance and unutilized tax losses.

MAGNITUDE
INTERNATIONAL LTD AND ITS SUBSIDIARIES

NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS

22. Significant related party transactions and balances

In
addition to the related party information disclosed elsewhere in the financial statements, the following were significant related party
transactions at rates and terms agreed between the Group