Leases (Tables)
|
12 Months Ended |
Mar. 31, 2025 |
|---|
| Presentation of leases for lessee [abstract] |
|
| Schedule of Annual Rent |
The annual rent as of March 31, 2025 is as follows:
|
|
To July 31, 2025 |
GBP 76,179 |
To July 31, 2026 |
GBP 80,709 |
To July 31, 2027 |
GBP 84,745 |
To July 31, 2028 |
GBP 88,982 |
To July 31, 2029 |
GBP 93,431 |
|
| Summary of Right of Use Assets Activity |
The following table summarizes our right-of-use assets activity for the BioCity and Shanghai lease for the years ended March 31, 2025, 2024 and 2023, respectively.
|
|
|
|
|
|
|
Office and Lab Leases |
|
Cost |
|
|
|
Balance at March 31, 2023 |
|
$ |
— |
|
Additions |
|
|
254,319 |
|
Effects of currency translation |
|
|
— |
|
Balance at March 31, 2024 |
|
$ |
254,319 |
|
Additions |
|
|
181,641 |
|
Effects of currency translation |
|
|
(4,832 |
) |
Balance at March 31, 2025 |
|
$ |
431,128 |
|
|
|
|
|
Accumulated amortization |
|
|
|
Balance at March 31, 2023 |
|
$ |
— |
|
Amortization |
|
|
(48,229 |
) |
Effects of currency translation |
|
|
— |
|
Balance at March 31, 2024 |
|
$ |
(48,229 |
) |
Amortization |
|
|
(76,784 |
) |
Effects of currency translation |
|
|
537 |
|
Balance at March 31, 2025 |
|
$ |
(124,476 |
) |
|
|
|
|
March 31, 2024 right-of-use assets, net |
|
$ |
206,090 |
|
March 31, 2025 right-of-use assets, net |
|
$ |
306,652 |
|
|
| Summary of Lease Liability Activity |
The following table summarizes the Company's lease liability activity for the BioCity lease and Shanghai lease for the years ended March 31, 2025, 2024 and 2023, respectively.
|
|
|
|
|
|
|
Total |
|
Balance as of March 31, 2023 |
|
$ |
— |
|
Additions |
|
|
254,319 |
|
Payment of lease liabilities |
|
|
(56,366 |
) |
Interest expense on lease liabilities |
|
|
26,347 |
|
Effects of currency translation |
|
|
— |
|
Balance as of March 31, 2024 |
|
$ |
224,300 |
|
Additions |
|
|
211,524 |
|
Deletions |
|
|
(32,510 |
) |
Payment of lease liabilities |
|
|
(100,089 |
) |
Interest expense on lease liabilities |
|
|
45,600 |
|
Effects of currency translation |
|
|
(4,289 |
) |
Balance as of March 31, 2025 |
|
$ |
344,536 |
|
|
| Summary of Maturity of Lease Liabilities |
The following table summarizes the maturity of our lease liabilities as of March 31, 2025:
|
|
|
|
|
|
|
March 31, 2025 |
|
Less than one year |
|
$ |
99,960 |
|
One to five years |
|
|
370,076 |
|
More than five years |
|
|
— |
|
Total lease payments |
|
$ |
470,036 |
|
Less: imputed interest |
|
|
(125,500 |
) |
Lease Liabilities |
|
$ |
344,536 |
|
|