Company: LSEB
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001199835-25-000233
Chunk: 295

Company: LSEB Creative Corp.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 2
Chunk 295
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 asset, as it is unlikely to be realized. Therefore, a valuation allowance of $150,054 for the year
ended March 31, 2025 (March 31, 2024: $116,452) was recorded to offset deferred tax assets.

As
of March 31, 2025, the Company has approximately $714,545 (March 31, 2023: $554,534) of non-capital losses available to offset future
taxable income. Based on the Tax Cuts and Jobs Act, federal net operating losses carryforward from 2019 are subject to an 80% limitation
on taxable income, do not expire and could be carried indefinitely.

11.SUBSEQUENT
EVENTS

The
Company’s management has evaluated subsequent events up to July 15, 2025, the date the financial statements were issued, pursuant
to the requirements of ASC 855 and has determined there are no material subsequent events to report.

Page | 14

ITEM
9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

ITEM
9A. CONTROLS AND PROCEDURES

Evaluation
of Disclosure Controls and Procedures

The
Securities and Exchange Commission defines the term “disclosure controls and procedures” to mean the company’s controls
and other procedures of an issuer that are designed to ensure that information required to be disclosed in the reports that it files
or submits under the Securities Exchange Act of 1934 (the “Exchange Act”) is recorded, processed, summarized and reported,
within the time periods specified in the Securities and Exchange Commission’s rules and forms. Disclosure controls and procedures
include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the
reports that it files or submits under the Securities Exchange Act of 1934 is accumulated and communicated to the issuer’s management,
including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow
timely decisions regarding required disclosure. The Company maintains such a simple system of controls and procedures in an effort to
ensure that all information which it is required to disclose in the reports it files under the Securities Exchange Act of 1934 is recorded,
processed, summarized and reported within the time periods specified under the SEC’s rules and forms and that information required
to be disclosed is accumulated and communicated to principal executive and principal financial officers to allow timely decisions regarding
disclosure.