PREPAYMENTS AND OTHER RECEIVABLES

9 Months Ended

Dec. 31, 2024

Statement of Financial Position [Abstract]

PREPAYMENTS AND OTHER RECEIVABLES

The prepayment represents the amount paid pursuant of a lease agreement executed with one of the directors for the commercial unit used as office space by the company. The current term of lease is approx. USD $800 (CAD $1,000) per month for 8 months starting from January 2022 with an option to extend it with mutual consent. The Company executed a Lease Extension Agreement for an additional 12 month period starting September 1, 2022 and ending August 31, 2023 for USD $800 (CAD $1,000) per month.

On September 1, 2023 the Company executed a further 12 month extension ending August 31, 2024 for USD $800 (CAD $1,000) per month.

On September 1, 2024 the Company executed a further 12 month extension ending August 31, 2025 for USD $800 (CAD $1,000) per month.

As of December 31, 2024, the Company has also made an advance payment of $30,652 to its manufacturing partners in Portugal. Once the goods are received by the Company we will allocate the amount to inventory.

LSEB Creative Corp. 10-Q