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v3.26.1

TAXATION | 12 Months Ended
--- | ---
Mar. 31, 2026
Notes and other explanatory information [abstract] |
TAXATION |
| 10. | TAXATION
Cayman Islands Under the current and applicable laws of the Cayman Islands, the Company is not subject to tax on income or capital gain. Additionally, upon payments of dividends by the Company to its shareholders, no Cayman Islands withholding tax will be imposed. Hong Kong The subsidiaries of the Group are incorporated in Hong Kong and are subject to Hong Kong Profits Tax on the taxable income as reported in their statutory financial statements adjusted in accordance with relevant Hong Kong tax laws. For the years ended March 31, 2024, 2025 and 2026, Hong Kong Profits Tax is calculated in accordance with the two-tiered profits tax rates regime. The applicable tax rate for the first HK$2 million of assessable profits is 8.25% and assessable profits above HK$2 million will continue to be subject to the rate of 16.5% for corporations in Hong Kong, effective from the year of assessment 2018/2019. Before that, the applicable tax rate was 16.5% for corporations in Hong Kong. The taxation expense is attributable to the following tax jurisdictions:
Schedule of taxation expense |  |  |  |  |  |  |  |  |  |  |  |
|  | For the years ended March 31, |
|  | 2024 |  |  | 2025 |  |  | 2026 |
|  | HK$’000 |  |  | HK$’000 |  |  | HK$’000 |
Hong Kong |  |  |  |  |  |  |  |  |  |  |  |
- Charged for the year |  |  | 2,085 |  |  |  | 3,203 |  |  |  | 2,195 |
- Underprovision in prior years |  |  | - |  |  |  | - |  |  |  | 13 |
Cayman Islands |  |  |  |  |  |  |  |  |  |  |  |
- Charged for the year |  |  | - |  |  |  | - |  |  |  | - |
|  |  | 2,085 |  |  |  | 3,203 |  |  |  | 2,208 |
The taxation can be reconciled to the profit before tax per the consolidated statements of profit or loss and other comprehensive income as follows:
Schedule of profit before tax |  |  |  |  |  |  |  |  |  |  |  |
|  | For the year ended March 31, |
|  | 2024 |  |  | 2025 |  |  | 2026 |
|  | HK$’000 |  |  | HK$’000 |  |  | HK$’000 |
Profit before tax |  |  | 11,296 |  |  |  | 13,289 |  |  |  | 12,367 |
Income tax rate |  |  | 16.5 | % |  |  | 16.5 | % |  |  | 16.5 | %
Tax at the domestic income tax rate of 16.5% |  |  | 1,864 |  |  |  | 2,192 |  |  |  | 2,041 |
Tax effect of income not taxable for tax purpose |  |  | - |  |  |  | (3,926 | ) |  |  | (1,899 | )
Tax effect of expenses not deductible for tax purpose |  |  | 247 |  |  |  | 4,505 |  |  |  | 34 |
Tax effect of two-tier profits tax rates regime |  |  | (165 | ) |  |  | (165 | ) |  |  | (165 | )
Tax effect of tax loss not recognized |  |  | 102 |  |  |  | 498 |  |  |  | 491 |
Unrecognized temporary differences |  |  | 113 |  |  |  | 102 |  |  |  | 1,696 |
Utilization of tax losses previously not recognized |  |  | (52 | ) |  |  | - |  |  |  | - |
Underprovision in respect of prior years |  |  | - |  |  |  | - |  |  |  | 13 |
Tax concession |  |  | (24 | ) |  |  | (3 | ) |  |  | (3 | )
Taxation for the year |  |  | 2,085 |  |  |  | 3,203 |  |  |  | 2,208 |
The Group has not recognized deferred tax assets arising from deductible temporary differences on net decelerated tax depreciation as it is uncertain that the related tax benefits can be realized through future taxable profit.

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