Leases

12 Months Ended

Sep. 30, 2023

The Group has entered into lease contracts for its offices, delivery vans and staff motor vehicles. The Group's obligations under its leases are secured either by the lessor's title to the leased assets or by a collateral pledge over the lease assets.

The carrying amounts and movement in the right-of-use assets are set out below:


(in USD)	Leasehold property			Furniture, fixtures and office equipment			Vehicles			Total
Cost
At October 1, 2021		27,407			—			26,266			53,673
Additions		339,539			10,271			—			349,810
Effect of movements in exchange rates		(36,657	)		(760	)		(4,161	)		(41,578	)
At September 30, 2022		330,289			9,511			22,105			361,905
Additions		467,465			—			92,933			560,398
Adjustments for early termination		(403,080	)		—			—			(403,080	)
Effect of movements in exchange rates		25,316			171			(3,635	)		21,852
At September 30, 2023		419,990			9,682			111,403			541,075
Accumulated depreciation and impairment losses
At October 1, 2021		2,284			—			6,566			8,850
Depreciation for the year		27,741			285			6,039			34,065
Effect of movements in exchange rates		(2,660	)		(21	)		(1,553	)		(4,234	)
At September 30, 2022		27,365			264			11,052			38,681
Depreciation for the year		97,756			1,682			20,336			119,774
Impairment for the year		25,588			—			—			25,588
Effect of movements in exchange rates		(2,014	)		(64	)		53			(2,025	)
At September 30, 2023		148,695			1,882			31,441			182,018
Carrying amounts
At October 1, 2021		25,123			—			19,700			44,823
At September 30, 2022		302,924			9,247			11,053			323,224
At September 30, 2023		271,295			7,800			79,962			359,057

The carrying amount and movement in the lease liabilities are set out below:


(in USD)	September 30, 2023
At October 1, 2021		45,560
Additions		349,810
Interest		9,719
Payments		(33,883	)
Effect of movements in exchange rates		(38,390	)
At September 30, 2022		332,816
Additions		560,398
Interest		39,402
Payments		(109,974	)
Movement in lease payment accrual		—
Adjustments for early termination		(414,389	)
Effect of movements in exchange rates		(11,519	)
At September 30, 2023		396,734

The following are the amounts recognized in the statement of profit or loss in respect of lease agreements:


	For the Year Ended September 30,
(in USD)	2023		2022
Depreciation expense on right-of-use assets		119,775		34,065
Interest on lease liabilities		39,402		9,719
		159,177		43,784