Company: LSEB
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001199835-25-000233
Chunk: 244

Company: LSEB Creative Corp.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 1C
Chunk 244
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 valuation allowance 
     33,602  
     34,346 
  
    Net Tax Income 
     -  
     - 

Deferred
tax assets

Schedule of Deferred Tax Assets

    March 31,  
    March 31, 

    2025  
    2024 
  
    Non-capital loss carry forwards 
     150,054  
     116,452 
  
    Change in valuation allowance 
     (150,054) 
     (116,452)
  
    Net Deferred Tax Asset 
     -  
     - 

As
of March 31, 2025, the Company determined that a valuation allowance relating to above deferred tax asset of the Company was necessary.
This determination was based largely on the negative evidence represented by the losses incurred in the previous years. The Company decided
not to recognize any deferred tax asset, as it is unlikely to be realized. Therefore, a valuation allowance of $150,054 for the year
ended March 31, 2025 (March 31, 2024: $116,452) was recorded to offset deferred tax assets.

As
of March 31, 2025, the Company has approximately $714,545 (March 31, 2023: $554,534) of non-capital losses available to offset future
taxable income. Based on the Tax Cuts and Jobs Act, federal net operating losses carryforward from 2019 are subject to an 80% limitation
on taxable income, do not expire and could be carried indefinitely.

11.SUBSEQUENT
EVENTS

The
Company’s management has evaluated subsequent events up to July 15, 2025, the date the financial statements were issued, pursuant
to the requirements of ASC 855 and has determined there are no material subsequent events to report.

Page | 14

ITEM
9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

ITEM
9A. CONTROLS AND PROCEDURES

Evaluation
of Disclosure Controls and Procedures

The
Securities and Exchange Commission defines the term “disclosure controls and procedures” to mean the company’s controls
and other procedures of an issuer that are designed to ensure that information required to be disclosed in the reports that it files
or submits under the Securities Exchange Act of 1934 (the “Exchange Act”) is recorded, processed, summarized