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LEASE LIABILITIES
 6 Months Ended 12 Months Ended
Sep. 30, 2024
Mar. 31, 2024
Notes and other explanatory information [abstract]    
LEASE LIABILITIES

19 LEASE LIABILITIES

 

During the year ended 31 March 2024, the Company entered into a lease that expires on 1 January 2027. The initial quarterly rent is 31,316 Euros ($34,580). The lease is adjusted annually by an indexation factor and has an annual break clause. The quarterly rent is adjusted and increased to 32,091 Euros ($34,905) from February 2024.

 

Changes in lease liability is as follows:

 

 SCHEDULE OF CHANGES IN LEASE LIABILITY

   At 30 September   At 31 March 
   2024   2024 
   USD   USD 
At the beginning of the period/year   365,356    - 
Increase in lease liability   -    482,619 
Interest expense (note 8)   9,667    18,328 
Lease modification adjustment   -    (25,837)
Reduction in lease liability   (104,715)   (109,754)
At the end of the period/year   270,308    365,356 

 

Classified in the unaudited interim condensed consolidated statements of financial position as follows:

 

 SCHEDULE OF LEASE LIABILITIES

   At 30 September   At 31 March 
   2024   2024 
   USD   USD 
Current   122,076    122,076 
Non-current   148,232    243,280 
    270,308    365,356 

 

Maturity of lease liabilities is as follows:

 

 SCHEDULE OF MATURITY OF LEASE LIABILITIES

   At 30 September   At 31 March 
   2024   2024 
   USD   USD 
Not later than one year   104,714    139,619 
Later than one year and not later than five years   186,159    255,969 
Later than five years   -    - 
    290,873    395,588 
Finance costs   (20,565)   (30,232)
Present value of minimum lease payments   270,308    365,356 

 

The lease commitments have been discounted to calculate a present value of commitments using a cost of capital rate of 5.88%.

 

 

19 LEASE LIABILITIES

 

During the year ended 31 March 2024, the Company entered into a lease that expires on 1 January 2027. The quarterly rent is 31,316 Euros ($34,580). The lease is adjusted annually by an indexation factor and has an annual break clause. The quarterly rent is adjusted and increased to 32,091 Euros ($34,905) from February 2024.

 

Changes in lease liability is as follows:

 

   At 31 March   At 31 March 
   2024   2023 
   USD   USD 
At 1 April   -    - 
Increase in lease liability   482,619    - 
Interest expense (note 8)   18,328    - 
Lease modification adjustment   (25,837)     
Reduction in lease liability   (109,754)   - 
Ending balance   365,356    - 

 

Classified in the combined statements of financial position as follows:

 

   At 31 March   At 31 March 
   2024   2023 
   USD   USD 
Current   122,076    - 
Non-current   243,280    - 
Lease liabilities   365,356    - 

 

Maturity of lease liabilities is as follows:

 

   At 31 March   At 31 March 
   2024   2023 
   USD   USD 
Not later than one year   139,619    - 
Later than one year and not later than five years   255,969    - 
Total future minimum lease payments   395,588    - 
Finance costs   (30,232)   - 
Present value of minimum lease payments   365,356    - 

 

The lease commitments have been discounted to calculate a present value of commitments using a cost of capital rate of 5.88%.