Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 293

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 293
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 provides deposit insurance coverage of up to $68,902 (RMB 500,000) per
depositor per financial institution. As of March 31, 2025, and March 31, 2024, the Company
had cash balances of $377,982 and $0 maintained in China’s financial institutions,
of which $309,048 and $0 were subject to credit risk, respectively.

While management believes
that these financial institutions are of high credit quality, it also continually monitors their credit worthiness.

The Company is also exposed
to risk from accounts receivable and other receivables. These assets are subjected to credit evaluations. An allowance has been made
for estimated unrecoverable amounts which have been determined by reference to past default experience and the current economic environment.

<div align='center'>F-51

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

Note 22 — Leases

As of March 31, 2025 and
2024, the Company has engaged in multiple offices and warehouse leases which were classified as operating leases. In addition, the Company
engaged in a few automobiles’ leases under finance lease agreements.

The Company occupies various
offices under operating lease agreements with a term shorter than twelve months which it elected not to recognize lease assets and lease
liabilities under ASC 842. Instead, the Company recognized the lease payments in profit or loss on a straight-line basis over the lease
term and variable lease payments in the period in which the obligation for those payments is incurred.

The Company’s lease
agreements do not contain any material residual value guarantees or material restrictive covenants.

The Company recognized lease
expense on a straight-line basis over the lease term for operating lease. Meanwhile, the Company recognized the finance leases ROU assets
and interest on an amortized cost basis.

The amortization of finance
ROU assets is recognized on straight-line basis as amortization expense, while the lease liability is increased to reflect interest on
the liability and decreased to reflect the lease payments made during the period.

Operating and finance lease expenses consist of the following:

|                               |     |                                     |     | For the Years Ended March 31, |           |     |      |         |     |      |         |
|                               |     | Classification                      |     |                          2025 |           |     | 2024 |         |     | 2023 |         |