After making this enquiry, the directors have a reasonable expectation that the Company and the Group have adequate resources to continue in operational existence. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

 

Standards and interpretations issued but not yet applied

 

The following standards, amendments and interpretations became effective from 1 January 2020, however none of these new standards has had an impact on the Group financial statements:

 

·    IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors (Amendment - Disclosure Initiative - Definition of Material)

·    IFRS 3 Business Combinations (Amendment - Definition of Business) Conceptual Framework for Financial Reporting (Revised)

·    IBOR Reform and its Effects on Financial Reporting

·    COVID-19 Related Rent Concessions - Amendment to IFRS 16

 

 

A number of new standards and amendments to standards and interpretations have been issued by International Accounting Standards Board but are not yet effective. The Directors do not expect that the adoption of these standards will have a material impact on the financial statements of the Group in future periods.

 

Basis of consolidation

             

The consolidated financial statements incorporate the financial statements of the Company and its subsidiaries drawn up to 31 March each year. Control is achieved where the Company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

 

Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by other members of the Group.

 

All intra-company transaction, balances, income and expenses are eliminated in full on consolidation.

 

Revenue recognition

 

The accounting policies for the group's revenue from contracts with customers are explained in note 4.

 

Taxation

 

The tax currently payable is based on the taxable profit for the period. Taxable profit differs from net profit as reported in the income statement because the taxable profits exclude items of income or expense that are taxable or deductible in other periods and it further excludes items that are not taxable or deductible. The Group's liability for corporate tax is calculated using the income tax rates that have been gazetted for the current reporting date.

 

Deferred income tax is provided for using the liability method on temporary differences at the reporting date between the tax basis of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred income tax liabilities are recognised in full for all temporary differences. Deferred income tax assets are recognised for all deductible temporary differences carried forward of unused tax credits and unused tax losses to the extent that it is probable that taxable profits will be available against which the deductible temporary differences and carry-forward of unused tax credits and unused losses can be utilised.

 

The carrying amount of deferred income tax assets is assessed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the deferred income tax asset to be utilised. Unrecognised deferred income tax assets are reassessed at each reporting date and are recognised to the extent that is probable that future taxable profits will allow the deferred income tax asset to be recovered.

 

Foreign currency

 

The Group's consolidated financial statements are presented in Sterling. The functional currency of the Group's subsidiary is Ringgit Malaysia ("MYR"). The Group determines the functional currency and items included in the financial statements of each entity are measured using that functional currency.

 

The assets and liabilities of foreign operations are translated into sterling at the rate of exchange ruling at the reporting date. Income and expenses are translated at weighted average exchange rates for the period. The exchange differences arising on translation for consolidation are recognised in other comprehensive income.

 

Financial instruments

 

Financial assets and financial liabilities are recognised on the statement of financial position when the Group becomes a party to the contractual provisions of the instrument.

 

Financial assets

 

Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through other comprehensive income (OCI), and fair value through profit or loss (FVTPL).

 

The classification of financial assets at initial recognition depends on the financial asset's contractual cash flow characteristics and the Group's business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient, the Group initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient are measured at the transaction price determined under IFRS 15.

 

Financial assets at amortised cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognised in profit or loss when the asset is de-recognised, modified or impaired.

 

The Group's financial assets at amortised cost includes trade receivables and loan to related parties, are included under other non-current financial assets. In the periods presented the Group does not have any financial assets categorised as fair value through OCI.

 

Impairment provisions for current and non-current trade receivables are recognised based on the simplified approach within IFRS 9 using a historical provision matrix in the determination of the lifetime expected credit losses except for the key customer which are separately assessed with its standalone credit risk profile. During this process the probability of the non-payment of the trade receivables is assessed. This probability is then multiplied by the amount of the expected loss arising from default to determine the lifetime expected credit loss for the trade receivables. For trade receivables, which are reported net, such provisions are recorded in a separate provision account with the loss being recognised within administration expenses in the consolidated statement of comprehensive income. On confirmation that the trade receivable will not be collectable, the gross carrying value of the asset is written off against the associated provision.

 

Impairment provisions for receivables from related parties and loans to related parties are recognised based on a forward-looking expected credit loss model. The methodology used to determine the amount of the provision is based on whether there has been a significant increase in credit risk since initial recognition of the financial asset. For those for which credit risk has increased significantly, lifetime expected credit losses are recognised, unless further information becomes available contrary to the increased credit risk. For those that are determined to be permanently credit impaired, lifetime expected credit losses are recognised.

 

Trade and other payables

 

Trade and other payables are initially measured at fair value, net of transaction costs, and are subsequently measured at amortised cost, where applicable, using the effective interest method, with interest expense recognised on an effective yield basis.

 

Cash and cash equivalents

 

The Group considers any cash on short-term deposits and other short-term investments to be cash equivalents.

 

Leases

 

The Group assesses whether a contract is or contains a lease, at the inception of the contract. The Group recognises a right-of-use asset and corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for low-value assets and short-term leases with 12 months or less. For these leases, the Group recognises the lease payments as an operating expense on a straight-line method over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed.

 

The Group recognises a right-of-use asset and a lease liability at the lease commencement date. The right-of-use assets and the associated lease liabilities are presented as a separate line item in the statement of financial position.

 

The right-of-use asset is initially measured at cost. Cost includes the initial amount of the corresponding lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred, less any incentives received.

 

The right-of-use asset is subsequently measured at cost less accumulated depreciation and any impairment losses, and adjustment for any remeasurement of the lease liability. The depreciation starts from the commencement date of the lease. If the lease transfers ownership of the underlying asset to the Group or the cost of the right-of-use asset reflects that the Group expects to exercise a purchase option, the related right-of-use asset is depreciated over the useful life of the underlying asset. Otherwise, the Group depreciates the right-of-use asset to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term.

 

The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the incremental borrowing rate is calculated on a lease by lease basis.

 

The lease liability is subsequently measured at amortised cost using the effective interest method. It is remeasured when there is a change in the future lease payments (other than lease modification that is not accounted for as a separate lease) with the corresponding adjustment is made to the carrying amount of the right-of-use asset or is recognised in profit or loss if the carrying amount has been reduced to zero.

 

Operating segments

 

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision maker has been identified as the management team including the two main directors and two non-executive directors.

 

The Board considers that the Group's activity constitutes one operating and one reporting segment, as defined under IFRS 8. Management reviews the performance of the Group by reference to total results against budget.

 

The total profit measures are operating profit and profit for the period, both disclosed on the face of the income statement. No differences exist between the basis of preparation of the performance measures used by management and the figures in the Group's financial information.

 

3.   CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

 

The preparation of financial statements in compliance with IFRSs requires the use of certain critical accounting estimates or judgements. The estimates and judgements which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are discussed below:

 

Lease liability discount rate

The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which is generally the case for leases in the Group, the lessee's incremental borrowing rate is used, being the rate that the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security and conditions.

 

To determine the incremental borrowing rate, the Group:

•     Where possible, uses recent third-party financing received by the individual lessee as a starting point, adjusted to reflect changes in financing conditions since third party financing was received;

•     Uses a build-up approach that starts with a risk-free interest rate adjusted for credit risk for leases held by the company, which does not have recent third-party financing; and

•     Makes adjustments specific to the lease, e.g. term, currency and security.

 

The Group used incremental borrowing rates at a prevailing rate of 6.9%.

4.   REVENUE

 

	Year 31-Mar-22 £		Year 31-Mar-21 £
Revenue	611,544		807,133
	611,544		807,133

 

Revenue is recognised either when the performance obligation in the contract has been performed (so 'point in time' recognition) or 'over time' as control of the performance obligation is transferred to the customer. Revenue represents rendered managed telecommunication services to the customers, the end users, which is recognised over the period of time when the services is performed.

 

Invoicing and payment terms are generally monthly in advance except for a single customer is granted extended timeframe for settlement. A contract liability represents the obligation of the Group to render services to a customer for which consideration has been received (or the amount is due) from the customer.

 

In addition, under contract with customer, the customer is also entitled to claim rebates if the service performance/downtime is more than the allowed hours in any given month. The Group has implemented an open source fully customised Network Performance Monitoring system, which can provide an in-depth view of performance by customer. Due to the high level of service provided under each contract with a customer, the Group has no history of having to provide rebates. On that basis, the variable consideration was considered as remote.

 

All revenue derived from Malaysia, Singapore and Thailand. Revenue excludes value added tax and other sales taxes.

 

5.   MATERIAL PROFIT OR LOSS ITEMS

 

A number of items which are material due to the significance of their nature and/or amount is stated as follow:

	Year 31-Mar-22 £		Year 31-Mar-21 £
Consultancy fee	18,573		23,128
Staff costs (include directors)	192,116		161,442
Depreciation of right-of-use assets	97,496		99,010
Advertising and marketing	28,941		45,034
Interest on lease liability	10,136		9,756
Auditors' remuneration:
Fees payable to the Group's auditor for the audit of the Group's annual accounts	18,500		22,000
Fees payable to the Group's subsidiary auditor for the audit of the subsidiary's annual accounts	1,809		4,587

6.   INCOME TAX EXPENSE

 

The corporation tax in the UK applied during the year was 19% (2021: 19%).

 

The charge for the year can be reconciled to the profit/(loss) in the Statement of Comprehensive income as follow:

	As at		As at
	31-Mar-22		31-Mar-21
	£		£
Profit/(loss) before tax on continuing operations	34,719		83,572
Tax at the UK corporation tax rate	6,597		15,879
Tax effect of expenses that are not deductible in determining taxable profit	442		3,664
Difference in oversea tax rate	-		(1,065)
Utilised tax loss	7,039		(19,924)
Unutilised tax loss carried forward	-		1,446
Tax charge for the year	-		-

 

The Group has accumulated tax losses of approximately £102,961 (2021: £110,000) which can be carried forward indefinitely. No deferred tax asset has been recognised in respect of the losses carried forward, due to the uncertainty as to whether the Group will generate sufficient future profits in the foreseeable future to prudently justify this.

 

 

 

7.   PROFIT / (LOSS) PER SHARE

 

Basic and diluted profit per ordinary share is calculated by dividing the profit attributable to equity holders of the Group by the weighted average number of ordinary shares in issue during the period. Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares.  There are currently no dilutive potential ordinary shares.

 

Profit per share attributed to ordinary shareholders

	Year 31-Mar-22 £		Year 31-Mar-21 £
Profit for the year (£)	34,719		83,572
Weighted average number of shares (Unit)	10,000,000		10,000,000
Basic and diluted profit per share (Pence)	0.35		0.84

 

 

8.   RIGHT-OF-USE ASSET

 

	Office
Cost	£
At 1 April 2021	292,474
Addition due to increase in lease term	167,304
Exchange difference	7,484
At 31 March 2022	467,262
Accumulated depreciation
At 1 April 2021	73,118
Depreciation for the year	97,496
Exchange difference	1,872
At 31 March 2022	172,486
Net Book Value
At 31 March 2022	294,7765
At 31 March 2021	219,356

 

The Group subsidiary entered into a lease agreement for an office. The lease was renewed for a period of three (3) years commence of 1^st April 2022.

 

 

 

9.   TRADE AND OTHER RECEIVABLES

 

	As at 31-Mar-22 £		As at 31-Mar-21 £
Trade receivables	21,478		217,037
Prepayment and deposit	47,230		64,374
Other receivables	57,226		25,044
	125,934		306,455

 

The Group allows credit terms of 30 days to all customers. During the pandemic, the Group made an exception to allow certain customers to settle the debts at the agreed extended timeframe. Subsequent to the year end, the Group received the payment of the overdue debts in full before the date of approval of these financial statements. Accordingly, these past due trade receivables are not impaired and no expected credit loss is recognised in these financial statements.

 

 

10. BANK

 

Cash and cash equivalents are denominated in the following currencies:

 

	As at 31-Mar-22 £		As at 31-Mar-21 £
Great Britain Pound	15,302		20,102
Singapore Dollar	19,249		18,494
United States Dollar	26,592		25,370
Malaysia Ringgit	405,480		327,817
	466,623		391,783

 

 

11. SHARE CAPITAL

 

Ordinary shares of £0.10 each

	Number of shares		Amount £
Issued and paid up
As at 31 March 2022 and 31 March 2021	10,000,000		1,000,000

 

At 31 March 2022, the total issued ordinary share of the Group were 10,000,000.

 

 

 

12. TRADE AND OTHER PAYABLES

	Year 31-Mar-22 £		Year 31-Mar-21 £
Amount due to directors	3,051		3,004
Trade creditors	-		134,551
Accruals	33,487		40,703
Contract liability	8,136		10,418
Other payables	51,149		50,152
	95,823		238,828

 

13. LEASE LIABILITY

				Year		Year
				31-Mar-22		31-Mar-21
				£		£
At 1 April				223,726		73,825
Addition				167,303		292,474
Changes due to lease modification				(3,586)		(48,272)
Repayment of principal				(98,392)		(90,885)
Exchange differences				5,725		(3,416)
At 31 March				294,776		223,726

 

Lease liabilities are payable as follow:
Current liability				93,552		96,094
Non-current liability				201,224		127,632
				294,776		223,726

 

14. SUBSIDIARY UNDERTAKING

 

The details of the subsidiary in the Group are as follows:

 

Name of subsidiary	Country of incorporation	Effective holding	Principal activities
Orient BB Sdn. Bhd.	Malaysia	100%	IT managed services

 

Below is the registered address of the subsidiary undertakings.

 

ORIENT BB Sdn Bhd     Orient Telecoms Ltd

28, 3rd Floor, Lorong Medan Tuanku Satu, 50300 Kuala Lumpur, Malaysia   Wickhams Cay II, Road Town, Tortola, VG1110, British Virgin Islands

15. EMPLOYEES AND DIRECTORS' EMOLUMENTS

	Year ended		Year ended
	31-Mar-22		31-Mar-21
	£		£
Staff costs (include directors)	198,874		161,442

 

 

Directors' fee during the year

			Year ended at		Year ended at
			31-Mar-22		31-Mar-21
			£		£
Wong Chee Keong			21,144		19,856
Sayed Mustafa Ali			15,000		15,000
Ross Andrews			24,000		20,000
Leon Santos			10,000		15,000
			70,144		69,856

 

The Directors' fees are payable to the third-party companies in respect of their services as the directors of the Group.

 

The average monthly number of employees, including directors, during the year was 11 (2021: 12)

 

 

16. SEGMENTAL ANALYSIS

 

The chief operating decision maker has determined that in the year end 31 March 2022, the Group had a single operating segment, the provision of managed telecommunications services.

 

Apart from holding Group activities in the UK the Group's operations where predominantly revenue derived from Malaysia, representing 50% (2021: 52%) of total revenue, and the remaining revenue derived from the countries within the South East Asia region during the reporting year.

 

There are 2 customers (2021: 2 customers) with revenue greater than 10% during the reporting year as follow:

 

				As at		As at
				31-Mar-22		31-Mar-21
				£		£
Customer A				278,151		390,270
Customer B				120,000		88,073
				398,151		478,343

 

 

 

 

17. FINANCIAL INSTRUMENTS

 

The Group's principal financial instruments comprise trade & other receivables and other payables. The Group's accounting policies and method adopted, including the criteria for recognition, the basis on which income and expenses are recognised in respect of each class of financial assets, financial liability and equity instrument are set out in Note 2. The Group does not use financial instruments for speculative purposes.

 

The principal financial instruments used by the Group, from which financial instrument risk arises, are as follows:

 

	As at		As at
	31-Mar-22		31-Mar-21
	£		£
Financial assets
Loans and receivables
Cash and cash equivalent	466,623		391,783
Trade and other receivable	65,520		242,081
Total financial assets	532,143		633,864
Financial liabilities at amortised cost
Amount due to directors	3,051		3,004
Trade and other payables	81,953		225,406
Total financial liabilities	85,004		228,410

 

 

The Group uses a limited number of financial instruments, comprising cash, short-term deposits and various items such as trade receivables and payables, which arise directly from operations. The Group does not trade in financial instruments and it has no external borrowing.

 

 

18. FINANCIAL RISK MANAGEMENT

 

Financial risk factors

 

The Group's activities expose it to a variety of financial risks: currency risk, credit risk, liquidity risk and cash flow interest rate risk. The Group's overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the Group's financial performance.

 

a) Currency risk

 

The Group has transactional currency exposures arising from sales, and expenses that are denominated in a currency other than in Pounds Sterling. The foreign currency in which these transactions are denominated in Ringgit Malaysia ("MYR"). The Group also holds cash and cash equivalents denominated in foreign currencies, predominantly in MYR, for working capital purposes.

At the reporting date, the following Group's financial instruments are denominated in MYR:

 

	As at			As at
	31-Mar-22			31-Mar-21
	£			£
Financial assets
Loans and receivables
Cash and cash equivalent	405,479			327,817
Trade and other receivable	72,721			122,872
Total financial assets	478,200			450,689
Financial liabilities at amortised cost
Trade and other payables	66,672			50,555
Total financial liabilities	66,672			50,555
Net financial asset	411,528			400,134

 

If the GBP strengthened by 5% against the MYR, with all other variables in each case remaining constant, then the impact on the group's post-tax profit for the year would be loss of approximately £20,500 (2021: loss of £19,000) or vice versa.

 

b) Credit risk

 

The Group's exposure to credit risk or the risk of counterparties defaulting, is primarily attributable to trade receivables. The Group manages its exposure to credit risk by the application of credit approvals, credit limits and monitoring procedures on an ongoing basis. For other financial assets (including cash and bank balances), the Group minimises credit risk by (i) customer is compulsory to place security deposit (ii) 1-month payment in advance for monthly recurring invoice (iii) no credit risk for past 12 month

 

(i)         Credit Risk Concentration Profile

 

The Group's major concentration of credit risk relates to amounts owing by one (1) customer which constitute 24% (2021: 55%) of its trade receivables as at the end of the reporting period.

 

(ii)        Exposure to credit risk

 

At the end of the financial year, the maximum exposure to credit risk is represented by the carrying amount of each class of the financial assets recognised in the statement of financial position of the company after deducting any allowance for impairment losses (where applicable)

 

(iii)       Assessment of Impairment Losses

 

At each reporting date, the Group assesses whether any of the financial assets at amortised cost are credit impaired

The gross carrying amounts of those financial assets are written off when there is no reasonable expectation of recovery (i.e. the debtor does not have assets or sources of income to generate sufficient cash flows to repay the debt). However, those assets are still subject to enforcement activities.

 

Trade Receivables

 

The Group applies the simplified approach to measure expected credit losses which uses a lifetime expected loss allowance for all trade receivables.

 

To measure the expected credit losses, trade receivable has been grouped based on shared credit risk characteristic and the days past due.

 

The Group considers any receivables having financial difficulty or with significant balances outstanding for more than one year, as credit impaired. However, due to the pandemic, exceptions have been granted to specified trade receivables, which is valued on case-by-case basis and subject to approval.

 

The expected loss rates are based on the payment profiles of sales over a period of 12 months from the measurement date and the corresponding historical credit losses experienced within this period. The historical loss rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of the customers to settle their debts.

 

The information about the exposure to credit risk and the loss allowances calculated under IFRS 9 for trade receivables is summarised below: -

 

		Gross Amount £				ECL Provision £				Carrying Amount £
	2022
	Current (not past due)	14,597				-				14,597
	1 to 30 days past due	3,660				-				3,660
	31 to 60 days past due	2,569				-				2,569
	61 to 90 days past due	652				-				652
	more than 90 days	-				-				-
		21,478				-				21,478
		Gross Amount £				ECL Provision £				Carrying Amount £
	2021
	Current (not past due)	79,412				-				79,412
	1 to 30 days past due	61,052				-				61,052
	31 to 60 days past due	11,349				-				11,349
	61 to 90 days past due	8,721				-				8,721
	more than 90 days	56,503				-				56,503
		217,037				-				217,037

Deposit with a Licensed Bank and Bank Balances

 

The company considers the banks and financial institutions have low credit risks. Therefore, the Company is of the view that the loss allowance is immaterial and hence, it is not provided for.

 

Other receivables

 

The company applies the 3-stage general approach to measuring expected credit losses for other receivables. No expected credit loss is recognised on these balances as it is negligible.

 

 

c) Liquidity risk

 

Liquidity risk arises from general funding and business activities. The Group practices prudent risk management by maintaining sufficient cash balances and adequate working capital to meet its obligations as and when they fall due The Group ensures it has adequate resource to discharge all its liabilities. The directors have considered the liquidity risk as part of their going concern assessment. (See note 2)

 

 

d) Maturity Analysis

 

The following table sets out the maturity profile of the financial liabilities at the end of the reporting period based on contractual undiscounted cash flows (including interest payments computed using contractual rates or if floating based on the rates at the end of the reporting period). The Group ensures it has adequate resource to discharge all its liabilities. The directors have considered the liquidity risk as part of their going concern assessment.

 

	Carrying Amount		Contractual Undiscounted cash flow			Within 1 year		More than 1 year
	£		£			£		£
2022
Trade and other payables	92,772		92,772			92,772		-
Amount due to directors	3,051		3,051			3,051		-
Lease liabilities	294,776		294,776			93,552		201,224
	390,599		390,599			189,375		201,224
2021
Trade and other payables	225,406		225,406			225,406		-
Amount due to directors	3,004		3,004			3,004		-
Lease liabilities	223,726		238,095			105,820		132,275
	452,136		466,505			334,230		132,275

 

Fair values

 

Management assessed that the fair values of cash and short-term deposits, trade receivables, trade payables and other current liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.

 

 

19. CAPITAL RISK MANAGEMENT POLICY

 

The Group defines capital as the total equity and debt of the Group. The objective of the Group's capital management is to safeguard and maintain the Group's ability to continue as a going concern in order to provide returns to and benefits for all stakeholders and to maintain an optimal capital structure to reduce the cost of capital and towards ensuring availability of funds in order to support its businesses and related shareholders value. To achieve this objective, the Group may make adjustments to the capital structure in view of changes in economic conditions such as adjusting the amount of dividend payments or issuing new shares. The capital structure of the Group consists of the equity attributable to equity holders of the Group which comprises of issued share capital and reserves.

 

The Group monitors and maintains a prudent level of total debt to total equity ratio to optimise shareholders value and to ensure compliance with debt covenants and regulatory,

 

There was no change in the Group's approach to capital management during the financial year.

 

 

20. NET DEBT RECONCILIATION

 

The below table sets out an analysis of net debt and the movement in net debt for the years presented:

			As at		As at
			31-Mar-22		31-Mar-21
			£		£
Cash and cash equivalent			466,623		391,783
Lease liabilities			(294,776)		(223,726)
			171,847		168,057

 

 

21. RELATED PARTY TRANSACTIONS

 

Key management are considered to be the directors and the key management personnel compensation has been disclosed in note 15.

 

In 2017, Orient Managed Services Limited entered into an agreement with a third party which provides consultancy services in relation to the listing exercise of the Group. Orient Managed Services Limited is partly owned by Sayed Mustafa Ali, a director of the Group.

 

 

		As at		As at
		31-Mar-22		31-Mar-21
		£		£
Amount due to directors
-      Sayed Mustafa Ali		1,250		1,250
-      Wong Chee Keong		1,801		1,754
		3,051		3,004

 

The amount due to the related parties are interest-free and is payable on demand.

Sayed Mustafa Ali is a director in both, the Group and Orient Telecoms Sdn Bhd.

 

 

22. CONTROL

 

The directors consider there is no ultimate controlling party.

 

 

23. SUBSEQUENT EVENTS

 

There were no subsequent events after the reporting period.