Company: LSEB
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001199835-25-000233
Chunk: 183

Company: LSEB Creative Corp.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 1B
Chunk 183
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 Company launched the brand in October 2023.

2.BASIS
OF PRESENTATION, MEASUREMENT

The
consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the
United States of America (“US GAAP”) and are expressed in United States dollars (“USD”). The consolidated financial
statements include the accounts of LSEB Creative Corp and its wholly-owned subsidiary. All intercompany balances and transactions have
been eliminated. There has been limited activity in the Company’s wholly-owned subsidiary.

3.GOING
CONCERN

The
accompanying consolidated financial statements have been prepared assuming the Company will continue on a going concern basis. As disclosed
in the balance sheet, the Company has accumulated losses at reporting period. The ability of the Company to continue as a going-concern
depends upon its ability to develop profitable operations and to continue to raise adequate financing. Management is actively targeting
sources of additional financing to provide continuation of the Company’s operations. In order for the Company to meet its liabilities
as they come due and to continue its operations, the Company is solely dependent upon its ability to generate such financing. The Company
is actively seeking financing to fully execute the next phase of the Company’s growth initiatives. Any capital raised will be through
either a private placement or a convertible debenture and will result in the issuance of common shares from the Company’s authorized
capital. The Company believes it can satisfy minimum cash requirements for the next twelve months with either an equity financing, convertible
debenture or if needed, loans from shareholders.

There
can be no assurance that the Company will be able to continue to raise funds, in which case the Company may be unable to meet its obligations.
Should the Company be unable to realize its assets and discharge its liabilities in the normal course of business, the net realizable
value of its assets may be materially less than the amounts recorded in these audited financial statements. The company has experienced
recurring losses that raise substantial doubt about its ability to continue as a going concern.

The
consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset
amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.

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    LSEB
    Creative Corp.
  
    Notes
    to Consolidated Financial Statements
  
    For
    the Years Ending March 31, 2025 and 2024

4.SUM