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Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Mar. 31, 2024
Current assets    
Cash and cash equivalents $ 249,923 $ 1,080,514
Accounts receivable, net (Note 3) 4,222,982 1,643,568
Contract assets (Note 4) 5,304,061 6,098,497
Deposits, prepayments and other current assets (Note 5) 483,864 20,925
Total current assets 10,260,830 8,843,504
Non-current assets    
Property and equipment, net (Note 6) 1,132,422 1,223,100
Right-of-use assets – finance lease (Note 7) 147,967 216,065
Life insurance policy, cash surrender value (Note 2) 167,224 160,891
Contract assets (Note 4) 1,636,414 740,600
Deferred offering costs 704,568
Deferred tax assets (Note 12) 79,426 150
Total non-current assets 3,163,453 3,045,374
Total assets 13,424,283 11,888,878
Current liabilities    
Accounts payable (Note 8) 3,964,976 3,166,177
Bank and other borrowings (Note 10) 4,761,434 3,818,453
Finance lease liabilities (Note 7) 66,150 67,372
Accrued expenses and other current liabilities (Note 9) 412,470 136,791
Income tax payable 321,445 552,670
Total current liabilities 9,526,475 7,741,463
Non-current liabilities    
Bank and other borrowings (Note 10) 2,865,484 3,033,780
Finance lease liabilities (Note 7) 48,345 114,495
Deferred tax liabilities (Note 12) 878
Total non-current liabilities 2,913,829 3,149,153
Total liabilities 12,440,304 10,890,616
Shareholders’ equity    
Ordinary shares, 100,000,000 shares authorized; USD0.0005 par value, 12,975,000 and 11,250,000 shares issued and outstanding, as of March 31, 2025 and 2024, respectively [1] 6,488 5,625
Subscription receivable (5,625)
Additional paid in capital 6,819,954 1,282
(Accumulated deficit) Retained earnings (5,842,463) 996,980
Total shareholders’ equity 983,979 998,262
Total liabilities and shareholders’ equity $ 13,424,283 $ 11,888,878
[1] Retrospectively restated for effect of share reorganization (Note 1)