Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 221

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 221
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 the results of which form the basis of making the judgements about carrying
values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.

<div align='center'>F-7

GCL GLOBGAL HOLDINGS LTD

NOTES TO FINANCIAL STATEMENTS

(Amounts in U.S. Dollars, except for number of shares)</div>

Fair value measurement:

The fair value of the Company’s assets and
liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurements and Disclosures,” approximates
the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature.

Related parties and transactions

The Company identifies related parties, and accounts
for, discloses related party transactions in accordance with ASC 850, “Related Party Disclosures” and other relevant ASC standards.

Parties, which can be a corporation or individual,
are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant
influence over the other party in making financial and operational decisions. Companies are also considered to be related if they are
subject to common control or significant influence.

NOTE 4 — RELATED PARTY TRANSACTIONS

a. Nature of relationships with related party

| Name                            |     | Relationship with the Company |
| Epicsoft Asia Pte. Ltd. (“EPA”) |     | Common Shareholder            |

b. Dues to related party

Dues to related party consists of the following:

| Name                           |     | As of     
 March 31, 
 2024      |       |
|:-------------------------------|:----|:----------|------:|
| Epicsoft Asia Pte. Ltd (“EPA”) |     | $         | 4,619 |

As of March 31, 2024, the balance due to related
party was comprised of incorporation expense paid by the Company’s related party and was used for working capital during the Company’s
ordinary course of business.

NOTE 5 — EQUITY

The authorized number of ordinary shares of the
Company is 500,000,000 shares with par value of US$0.0001 each. As of March 31, 2024, the Company had issued one ordinary share without
consideration.

NOTE 6 — SUBSEQUENT EVENTS

The Company has evaluated all events and transactions
that occur after March 31, 2024, other than the event disclosed