Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 215

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 215
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  Deposits (i)                                               $                273,041      $                42,832  
  Prepaid expenses (ii)                                                     1,122,403                       18,279  
  Prepaid income tax (iii)                                                      1,812                       23,366  
  GST recoverable (iv)                                                        209,880                      232,367  
  Other receivables (v)                                                       153,809                      197,102  
  Less: allowance for credit loss                                            ( 27,923                     ( 52,949  
  Total other receivables and other current assets, net      $              1,733,022      $               460,997  

  (i)      Deposits  

The balance of deposit mainly comprised deposits made for
rental and utility service of the Company.

  (ii)      Prepaid expenses  

The balance of prepaid expenses represented prepayment for
services, such as subscription fees, advertising expenses, and director & officer insurance.

F-36

GCL GLOBAL HOLDINGS LTD
AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

  (iii)      Prepaid income tax  

The balance of prepaid income tax represents
prepaid estimated income tax from the Company’s Singapore subsidiary.

  (iv)      GST recoverable  

The balance of GST recoverable represented
the amount of GST, which resulted from historical purchasing activities and could be further used for deducting future GST in Singapore.

  (v)      Other receivables  

The balance of other receivables mainly represented balance
due from vendor for marketing expense paid on behalf.

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

                              March 31,                    March 31,                  March 31,             
                              2025                         2024                       2023                  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Beginning balance           $                52,949      $               3,747      $              2,376  
  (Recovery) Addition                        ( 24,093                     49,351                     1,279  
  Translation adjustment                        ( 933                      ( 149                        92  
  Ending balance              $                27,923      $              52,949      $              3,747  

Note