Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 141

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 19
Chunk 141
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 if the obligation for dismantlement, removal or restoration is incurred as a consequence of acquiring or using the property,
plant and equipment.

Depreciation
is calculated using the straight-line method to allocate depreciable amounts over their estimated useful lives. The estimated useful
lives are as follows:

Schedule of estimated useful lives of property, plant and equipment

                              Useful lives  
  Leasehold property          35 years      
  Office equipment            5 years       
  Furniture and fittings      5 years       
  Renovation                  5 years       
  Motor vehicles              5 years       
  Computer software           2 years       
  Computer                    1 year        
  Testing equipment           1 year        

Fully
depreciated assets are retained in the financial statements until they are no longer in use and no further change for depreciation is
needed in respect of these assets.

The
residual value, useful lives and depreciation method are reviewed at the end of each reporting period, and adjusted prospectively, if
appropriate.

An
item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected from its use or
disposal. Any gain or loss on derecognition of the asset is included in profit or loss in the year the asset is derecognized.

  2.7      Impairment               

The
Group assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, (or, where
applicable, when an annual impairment testing for an asset is required), the Group makes an estimate of the asset’s recoverable
amount.

An
asset’s recoverable amount is the higher of an asset’s or cash-generating unit’s fair value less costs of disposal
and its value in use and is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent
of those from other assets or group of assets. Where the carrying amount of an asset or cash-generating unit exceeds its recoverable
amount, the asset is considered impaired and is written down to its recoverable amount.

Impairment
losses are recognized in profit or loss.

A
previously recognized impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s
recoverable amount since the last impairment loss was recognized. If that is the case, the carrying amount of the asset is increased
to its recoverable amount. That increase cannot exceed the carrying amount that would