LEASES (Tables)
|
9 Months Ended |
Mar. 31, 2024 |
|---|
| Leases |
|
| SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASE |
Supplemental
balance sheet information related to leases was as follows:
SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASE
| |
|
As of |
|
|
As of |
|
| |
|
March 31, 2024 |
|
|
June 30, 2023 |
|
| Assets |
|
|
|
|
|
|
|
|
| Operating lease assets, net |
|
$ |
1,490,669 |
|
|
$ |
1,151,575 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
| Current |
|
|
|
|
|
|
|
|
| Operating |
|
$ |
635,168 |
|
|
$ |
505,237 |
|
| Operating, Current |
|
$ |
635,168 |
|
|
$ |
505,237 |
|
| Non-current |
|
|
|
|
|
|
|
|
| Operating |
|
|
837,756 |
|
|
|
652,194 |
|
| Operating, Non Current |
|
|
837,756 |
|
|
|
652,194 |
|
| Total Lease Liabilities |
|
$ |
1,472,924 |
|
|
$ |
1,157,431 |
|
|
| SCHEDULE OF COMPONENTS OF LEASE COST |
The
components of lease cost were as follows:
SCHEDULE OF COMPONENTS OF LEASE COST
| |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
| |
|
For the Three Months |
|
|
For the Nine Months |
|
| |
|
Ended March 31, |
|
|
Ended March 31, |
|
| |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization of finance lease assets |
|
$ |
3,963 |
|
|
$ |
2,569 |
|
|
$ |
8,624 |
|
|
$ |
8,564 |
|
| Interest on finance lease obligation |
|
|
1,434 |
|
|
|
1,043 |
|
|
|
3,073 |
|
|
|
4,402 |
|
| Operating lease cost |
|
|
99,201 |
|
|
|
115,392 |
|
|
|
304,543 |
|
|
|
346,993 |
|
| Short term lease cost |
|
|
41,087 |
|
|
|
39,356 |
|
|
|
122,311 |
|
|
|
143,978 |
|
| Sub lease income |
|
|
(8,406 |
) |
|
|
(8,099 |
) |
|
|
(25,011 |
) |
|
|
(23,697 |
) |
| Total lease cost |
|
$ |
137,279 |
|
|
$ |
150,261 |
|
|
$ |
413,540 |
|
|
$ |
480,240 |
|
|
| SCHEDULE OF LEASE TERM AND DISCOUNT RATE |
Lease
term and discount rate were as follows:
SCHEDULE OF LEASE TERM AND DISCOUNT RATE
| |
|
As of |
|
|
As of |
|
| |
|
March 31, 2024 |
|
|
June 30, 2023 |
|
| |
|
|
|
|
|
|
| Weighted average remaining lease term - Operating leases |
|
|
2.2 Years |
|
|
|
3.09
Years |
|
| |
|
|
|
|
|
|
|
|
| Weighted average discount rate - Operating leases |
|
|
4.6 |
% |
|
|
4.0 |
% |
|
| SCHEDULE OF SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION RELATED TO LEASES |
Supplemental
disclosures of cash flow information related to leases were as follows:
SCHEDULE OF SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION RELATED TO LEASES
| |
|
|
|
|
|
|
| |
|
For the Nine Months |
|
| |
|
Ended March 31, |
|
| |
|
2024 |
|
|
2023 |
|
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
| Operating cash flows related to operating leases |
|
$ |
230,943 |
|
|
$ |
358,778 |
|
| |
|
|
|
|
|
|
|
|
| Operating cash flows related to finance leases |
|
$ |
3,070 |
|
|
$ |
4,472 |
|
| |
|
|
|
|
|
|
|
|
| Financing cash flows related finance leases |
|
$ |
20,180 |
|
|
$ |
24,362 |
|
|
| SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES |
Maturities
of operating lease liabilities were as follows as of March 31, 2024:
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES
| |
|
Amount |
|
| Within year 1 |
|
$ |
698,961 |
|
| Within year 2 |
|
|
485,363 |
|
| Within year 3 |
|
|
275,582 |
|
| Within year 4 |
|
|
108,551 |
|
| Within year 5 |
|
|
27,494 |
|
| Thereafter |
|
|
119 |
|
| Total Lease Payments |
|
|
1,596,070 |
|
| Less: Imputed interest |
|
|
(123,146 |
) |
| Present Value of lease liabilities |
|
|
1,472,924 |
|
| Less: Current portion |
|
|
(635,168 |
) |
| Non-Current portion |
|
$ |
837,756 |
|
|