Company: LSEB
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001199835-25-000233
Chunk: 393

Company: LSEB Creative Corp.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 4
Chunk 393
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 March 31, 2025 and 2024

9.CONTINGENCIES
AND COMMITMENTS

The
Company has entered into a number of Consulting Agreements and pursuant to the Agreements the Company may be required to pay a 2%-3%
finder’s fee associated with any new financings as of March 31, 2025. The Company has not been obligated to pay a finder’s
fee related to the capital raised as of March 31, 2025.

The
Company has no existing or pending legal proceedings against us, nor are we involved as a plaintiff in any proceeding or pending litigation.
There are no proceedings in which any of our directors, officers or any of their respective affiliates, or any beneficial stockholder,
is an adverse party or has a material interest adverse to our interest.

10.INCOME
TAXES

Income
taxes

The
provision for income taxes differs from the amounts which would be provided by applying a United States Federal corporate income tax
rate of approximately 21% for the years ended March 31, 2025 (since inception to March 31, 2024: 21%) as follows:

Schedule of Effective Income Tax Rate Reconciliation

    For the  
    From 

    year ended  
    year ended 

    March 31, 2025  
    March 31, 2024 
  
    Loss before income tax 
     (160,011) 
     (163,553)
  
    Expected Income tax recovery 
     (33,602) 
     (34,346)
  
    Change in valuation allowance 
     33,602  
     34,346 
  
    Net Tax Income 
     -  
     - 

Deferred
tax assets

Schedule of Deferred Tax Assets

    March 31,  
    March 31, 

    2025  
    2024 
  
    Non-capital loss carry forwards 
     150,054  
     116,452 
  
    Change in valuation allowance 
     (150,054) 
     (116,452)
  
    Net Deferred Tax Asset 
     -  
     - 

As
of March 31, 2025, the Company determined that a valuation allowance relating to above deferred tax asset of the Company was necessary.
This determination was based largely on the negative evidence represented by the losses incurred in the previous years. The Company