Company: LSEB
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001199835-25-000233
Chunk: 433

Company: LSEB Creative Corp.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 5
Chunk 433
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 seeking financing to fully execute the next phase of the Company’s growth initiatives. Any capital raised will be through
either a private placement or a convertible debenture and will result in the issuance of common shares from the Company’s authorized
capital. The Company believes it can satisfy minimum cash requirements for the next twelve months with either an equity financing, convertible
debenture or if needed, loans from shareholders.

There
can be no assurance that the Company will be able to continue to raise funds, in which case the Company may be unable to meet its obligations.
Should the Company be unable to realize its assets and discharge its liabilities in the normal course of business, the net realizable
value of its assets may be materially less than the amounts recorded in these audited financial statements. The company has experienced
recurring losses that raise substantial doubt about its ability to continue as a going concern.

The
consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset
amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.

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

4.SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES

Cash

As
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,