Company: GRAN
Filing Date: 2025-04-09
Form Type: F-1/A
Source: 0001213900-25-030179
Chunk: 283

Company: Grande Group Ltd/HK
Filing Date: 2025-04-09
Form: F-1/A
Chunk 283
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 market value of the asset. Assets to be disposed of are reported lower the carrying amount or fair value fewer costs to selling. No impairment of long -livedassets was recognized for the six months ended September30, 2024 and 2023.

F-33

NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) General and administrative expenses General and administrative expenses include employee benefit expense, depreciation and other office expenses. Cash and cash equivalents The Company considers bank deposit and all highly liquid investments with original maturities of three months or less when purchased to be cash and cash equivalents. Cash consists primarily of cash in accounts held at financial institutions. Lease Effective April 1, 2021, the Company adopted ASU 2016 -02, “Leases” (Topic 842), and elected the practical expedients that do not require the Company to reassess: (1) whether any expired or existing contracts are, or contain, leases, (2) lease classification for any expired or existing leases and (3) initial direct costs for any expired or existing leases. For lease terms of twelve months or fewer, a lessee is permitted to make an accounting policy election not to recognize lease assets and liabilities. The Company also adopted the practical expedient that allows lessees to treat the lease and non -leasecomponents of a lease as a single lease component. Lease terms used to calculate the present value of lease payments generally do not include any options to extend, renew, or terminate the lease, as the Company does not have reasonable certainty at lease inception that these options will be exercised. The Company generally considers the economic life of its operating lease ROU asset to be comparable to the useful life of similarly owned assets. The Company has elected the short -termlease exception, therefore operating lease ROU asset and liability do not include leases with a lease term of twelve months or less. Its leases generally do not provide a residual guarantee. The operating lease ROU asset also excludes lease incentives. Lease expense is recognized on a straight -linebasis over the lease term. As of September 30, 2024 and March 31, 2024, there were approximately $0.2 million and $0.3 million ROU assets and approximately $0.2 million and $0.3 million lease liability based on the present value of the future minimum rental payments of leases, respectively. The Company’s management believes that using the Hong Kong Dollar Prime Rate at 5.88% and 5.88