Company: MAGH
Filing Date: 2025-06-10
Form Type: F-1/A
Source: 0001641172-25-014489
Chunk: 268

Company: Magnitude International Ltd
Filing Date: 2025-06-10
Form: F-1/A
Chunk 268
---
Note 12). The Group may request a surrender of the contracts after the free look period and receive cash back based on the cash value at the date of withdrawal.

The initial cash value of the policy is recognized as a financial assets at fair value through profit or loss. The difference between the premium paid and initial cash surrender value of SGD64,412, which represents the prepayments is not significant to the financial statements. The amount is charged to profit or loss during the financial year ended April 30, 2024.

The keyman life insurance policy is pledged to bank to secure banking facilities granted to the Group (Note 12).

This policy is recorded in the financial statements at fair value, represented by the total cash surrender value of the contract stated in the annual statement of this policy (level 3), as disclosed in Note 26.

The currency profile of the Group’s financial assets at FVPL at the end of the reporting date are denominated in United States Dollar.

| 6. | Deferred                              
 initial public offering (“IPO”) costs |

IPO costs directly attributable to an offering of equity securities are deferred and would be charged against the gross proceeds of the offering. These costs include professional fees that are directly attributable to the preparation of the Group’s proposed SEC filing such as legal fees, counsel fees, consulting fees, and related costs. As of October 31, 2024, the accumulated deferred IPO cost was SGD960,062 (USD725,671).

| F-67 |

<div align='center'>MAGNITUDE INTERNATIONAL LTD AND ITS SUBSIDIARIES

NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>

| 7. | Trade                 
 and other receivables |

|                                            |     |     April 
 30,  2024 |   |     |   October 
 31,  2024 |   |     |   October 
 31,  2024 |   |
|:-------------------------------------------|:----|----------:|:--|:----|----------:|:--|:----|----------:|:--|
|                                            |     |       SGD |   |     |       SGD |   |     |       USD |   |
| Trade receivables                          |     |           |   |     |           |   |     |           |   |
| - third parties                            |     | 1,484,757 |   |     | 1,200,