Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 226

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 226
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 financial statements
do not give effect to any adjustments relating to the carrying values and classification of assets and liabilities that would be necessary
should the Company be unable to continue as a going concern.

<div align='center'>F-13

GCL GLOBAL HOLDINGS LTD

NOTES TO FINANCIAL STATEMENTS

(Amounts in U.S. Dollars, except for number of shares)</div>

NOTE 3 — SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES

Basis of Presentation

The accompanying
unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of
America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”)
and have been consistently applied. The unaudited financial statements as of September 30, 2024 and for the six months ended September
30, 2024 are included all adjustments (consisting of only normal recurring adjustments) considered necessary to present fairly the financial
position, results of operations and cash flow for such interim period. The results of operations for the six months ended September 30,
2024 are not necessarily indicative of results to be expected for the full year of 2025. Accordingly, these unaudited financial statements
should be read in conjunction with the Company’s audited financial statements as of and for the period from October 12, 2023 (inception)
through March 31, 2024.

Uses of estimates

In preparing the unaudited financial
statements in conformity U.S. GAAP, the management makes judgements, estimates and assumptions that affect the application of policies
and reported amounts of assets, liabilities and expenses. The estimates and associated assumptions are based on historical experience
and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the
judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ
from those estimates.

Fair value measurement:

The fair value of the Company’s
assets and liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurements and Disclosures,” approximates
the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature.

Related parties and transactions

The Company identifies related
parties, and accounts for, discloses related party transactions in accordance with ASC 850, “Related Party Disclosures” and
other relevant ASC standards.

Parties, which can