Company: MAGH
Filing Date: 2025-02-24
Form Type: DRS/A
Source: 0001493152-25-008050
Chunk: 200

Company: Magnitude International Ltd
Filing Date: 2025-02-24
Form: DRS/A
Chunk 200
---
 look period and receive cash back based on the cash value at the date of withdrawal.

The initial cash value of the policy is recognized as a financial assets at fair value through profit or loss. The difference between the premium paid and initial cash surrender value of SGD64,412, which represents the prepayments is not significant to the financial statements. The amount is charged to profit or loss during the financial year ended April 30, 2024.

The keyman life insurance policy is pledged to bank to secure banking facilities granted to the Group (Note 11).

This policy is recorded in the financial statements at fair value, represented by the total cash surrender value of the contract stated in the annual statement of this policy (level 3), as disclosed in Note 25.

The currency profile of the Group’s financial assets at FVPL at the end of the reporting date are denominated in United States Dollar.

| 6. | Trade                 
 and other receivables |

|                                            |     |     April 
  30, 2023 |   |     |     April 
  30, 2024 |   |     |     April 
  30, 2024 |   |
|:-------------------------------------------|:----|----------:|:--|:----|----------:|:--|:----|----------:|:--|
|                                            |     |       SGD |   |     |       SGD |   |     |       USD |   |
| Trade receivables                          |     |           |   |     |           |   |     |           |   |
| - third parties                            |     | 1,892,449 |   |     | 1,484,757 |   |     | 1,088,850 |   |
| Less: Allowance for expected credit losses |     |   (50,748 | ) |     |   (59,582 | ) |     |   (43,695 | ) |
|                                            |     | 1,841,701 |   |     | 1,425,175 |   |     | 1,045,155 |   |
| Other receivables                          |     |           |   |     |           |   |     |           |   |
| - shareholders                             |     |    83,538 |   |     |    85,443 |   |     |    62,660 |   |
| - third parties                            |     | 2,150,