Company: LSEB
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001199835-25-000233
Chunk: 235

Company: LSEB Creative Corp.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 1C
Chunk 235
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of March 31, 2025, the Company had a cash balance of $858 (March 31, 2024: $4,448). Cash includes cash on hand and balances with
banks.

Reclassification

Certain
prior year amounts have been reclassified for comparative purposes to conform to the current year financial statement presentation. These
reclassifications had no effect on previous reported results of operations.

Leases

At
the lease commencement date, right-of-use (“ROU”) assets and lease liabilities are recognized based on the present value of
the future minimum lease payments over the lease term, which includes all fixed obligations arising from the lease contract. If an interest
rate is not explicit in a lease, the Company utilizes its incremental borrowing rate for a period that closely matches the lease term.
The Company has elected not to recognize ROU assets and lease liabilities for leases with a lease term of less than 12 months.

Advertising
& Promotions

Advertising
costs are recognized as expense in Statement of operations for the period when incurred. For the year ending March 31, 2025, company
recognized $24,942 (March 31, 2024: $45,662 )

Use
of Estimates

The
preparation of audited financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements
and the reported amounts of revenues and expenses during the reporting period. Areas involving significant estimates and assumptions
include deferred income tax assets and related valuation allowance, valuation of convertible notes, warrants and accruals. Actual results
could differ from those estimates. These estimates are reviewed periodically, and, as adjustments become necessary, they are reported
in earnings in the period in which they become known.

    Page | 7

    LSEB
    Creative Corp.
  
    Notes
    to Consolidated Financial Statements
  
    For
    the Years Ending March 31, 2025 and 2024

4.SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (Continued.)

Loss
Per Share

The
Company has adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”)
Topic 260-10 which provides for calculation of “basic” and “diluted” earnings per share. Basic earnings per share
includes no dilution and is computed by dividing net income