Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 216

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 216
---
 9 - Prepayments, net

                                      March 31,                     March 31,                 
                                      2025                          2024                      
 ──────────────────────────────────────────────────────────────────────────────────────────────
  Prepayment                          $              6,354,653      $              5,720,400  
  Less: allowance for prepayment                     ( 114,792                     ( 209,412  
  Total prepayments, net              $              6,239,861      $              5,510,988  

Movement of allowance for
doubtful account for the years ended March 31, 2025, 2024, and 2023 are as follows:

                              March 31,                    March 31,                   March 31,                
                              2025                         2024                        2023                     
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Beginning balance           $               209,412      $               51,755      $                71,227  
  (Recovery) Addition                        ( 94,786                     157,623                     ( 10,105  
  Write-off                                         -                           -                      ( 8,894  
  Translation adjustment                          166                          34                        ( 473  
  Ending balance              $               114,792      $              209,412      $                51,755  

F-37

GCL GLOBAL HOLDINGS LTD
AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 10 - Loan to third party

Loan to third party consist of the following:

  Name of third party*      Maturities                                                                Interest Rate                       As of                       As of      
                                                                                                                                          March 31,                   March 31,  
                                                                                                                                          2025                        2024       
  2 Game LLC                Repay in two installments, to be due on September 1, 2025, and March      10% started from April 1, 2025                     382,024                 
                            1, 2026                                                                                                                                              
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Total                                                                                                                                   $              382,024      $          

2Game LLC is an e-sports company engaged in digital
gaming and online tournament operations. In order to promote 2Game’s platform and create potential