Company: STRG
Filing Date: 2025-04-29
Form Type: 10-K
Source: 0001640334-25-000716
Chunk: 254

Company: STARGUIDE GROUP, INC.
Filing Date: 2025-04-29
Form: 10-K
Item: Item 5
Chunk 254
---
31. Basis of Consolidation These consolidated financial statements include the accounts of the Company and its 80% owned subsidiaries of Live Investments Holdings Ltd. which owns 100% of Live Lead Tech Ltd. All material intercompany balances and transactions have been eliminated.  Foreign Currency Translations The Company’s functional and reporting currency is the U.S. dollar. The functional currency of Live Investments Holdings Ltd. and Live Lead Tech Ltd. is the Great British Pounds (GBP). All transactions initiated GBP are translated into U.S. dollars in accordance with ASC 830-30, ”Translation of Financial Statements,” as follows:  1)Monetary assets and liabilities at the rate of exchange in effect at the balance sheet date.    2)Equity at historical rates.    3)Revenue and expense items at the average rate of exchange prevailing during the period.

 F-7Table of Contents

Adjustments arising from such translations are deferred until realization and are included as a separate component of stockholders’ equity as a component of comprehensive income or loss. Therefore, translation adjustments are not included in determining net income (loss) but reported as other comprehensive income. Gains and losses from foreign currency transactions are included in earnings in the period of settlement.   Year Ended  Year Ended   January 31,  January 31,    2025  2024 Spot GBP: USD exchange rate  1.2417   1.2712 Average GBP: USD exchange rate  1.2749   1.2478  Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Business Combinations In accordance with ASC 805-10, “Business Combinations”, the Company accounts for all business combinations using the acquisition method of accounting. Under this method, assets and liabilities, including any remaining non-controlling interests, are recognized at fair value at the date of acquisition. The excess of the purchase price over the fair value of assets acquired, net of liabilities assumed, and non-controlling interests is recognized as goodwill. Certain adjustments to the assessed fair values of the assets, liabilities, or non-controlling interests made subsequent to the acquisition date, but within the measurement period