123 www.excelforce.com.my Notes to the Financial Statements (cont’d) 37. Capital Management (cont’d) The gearing ratios at the end of the reporting period are as follows: Group Company 2024 2023 2024 2023 RM RM RM RM Trade and other payables 3,587,601 3,613,686 581,222 3,498,849 Lease liabilities 1,606,170 632,211 330,415 632,211 Term loan 6,941,175 - 6,941,175 - Total debts 12,134,946 4,245,897 7,852,812 4,131,060 Less: Cash and cash equivalents (21,004,378) (31,170,722) (17,799,417) (30,050,305) Excess fund (8,869,432) (26,924,825) (9,946,605) (25,919,245) Total equity 128,131,930 96,895,620 122,366,641 97,736,322 Gearing ratio (times) -* -* -* -* * The gearing ratio is not applicable as the Group and the Company have sufficient cash and cash equivalents to settle the liabilities at the end of the reporting period. There were no changes in the Group’s and the Company’s approach to capital management during the financial year. 38. Date of Authorisation for Issue of Financial Statements The financial statements were authorised for issue by the Board of Directors in accordance with a resolution of the Directors on 24 October 2024.
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