Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 180

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 180
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 often when circumstances indicate impairment
may have occurred. Goodwill is carried at cost less accumulated impairment losses. If impairment exists, goodwill is immediately written
off to its fair value and the loss is recognized in the consolidated statements of operations and comprehensive income (loss). Impairment
losses on goodwill are not reversed.

F-13

GCL GLOBAL HOLDINGS LTD
AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The Company reviews the carrying
value of intangible assets not subject to amortization, including goodwill, to determine whether impairment may exist annually or more
frequently if events and circumstances indicate that it is more likely than not that an impairment has occurred. Management has determined
that the Company has two reporting units within the entity at which goodwill is monitored for internal management purposes.

The table below summarizes the changes in the
carrying amount of goodwill for each reporting unit:

                                 Console         Publishing      Media            Others                   
                                 Game                            Advertising                               
                                                                 service                                   
  Balance at March 31, 2022      $-              $               $                $-            -          
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────
  Acquired goodwill              2,047,154                                        -             2,047,154  
  Balance at March 31, 2023      2,047,154                                        -             2,047,154  
  Acquired goodwill              674,367                                          268,873       943,240    
  Impairments                    -                                                -             -          
  Balance at March 31, 2024      2,721,521                                        268,873       2,990,394  
  Acquired goodwill              -                                                -             -          
  Impairments                    -                                                -             -          
  Balance at March 31, 2025      $2,721,521      $               $                $268,873      2,990,394  

An entity performs its annual,
or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize
a goodwill impairment charge for the amount by which the reporting unit’s carrying amount exceeds its fair value. If fair value
exceeds the carrying amount, no impairment should be recorded. Any loss recognized should not exceed the total amount of goodwill allocated
to that reporting unit.

An entity may still perform
the optional qualitative assessment for a reporting unit to