v3.25.1
INCOME TAX EXPENSE (Tables)
12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSES (BENEFITS)

The income tax expenses (benefits) consist of the following components:

 

   2022   2023   2024   2024 
   For the years ended December 31, 
   2022   2023   2024   2024 
   HKD’000   HKD’000   HKD’000   US$’000 
Current tax   317    733    18    2 
Overprovision in prior years   -    -    (149)   (20)
Deferred tax   15    (1,791)   (982)   (126)
Total   332    (1,058)   (1,113)   (144)
SCHEDULE OF RECONCILIATION OF PROVISION FOR INCOME TAXES

A reconciliation of the provision for income taxes determined at the Hong Kong statutory income tax rate to the Company’s effective income tax rate is as follows:

 

   2022   2023   2024   2024 
   For the years ended December 31, 
   2022   2023   2024   2024 
   HKD’000   HKD’000   HKD’000   US$’000 
Loss before income taxes   (612)   (7,072)   (6,636)   (854)
Tax at Hong Kong statutory tax rate of 16.5%   (101)   (1,167)   

(1,095

)   (141)
Reconciling items:                    
Effect of tax-exempt for the Company and its subsidiaries incorporated in Cayman Islands and British Virgin Islands   -    33    35    5 
Adjustments in respect of current tax of previous years             (149)   (20)
Tax effect of Hong Kong concessionary tax rate   -    (165)   (12)   (2)
Tax effect of temporary difference   99    (13)   

-

   

-

Tax effect of non-taxable income   (55)   (39)   

(98

)   

(13

)
Tax effect of non-deductible expense   389    293    206    27 
Income tax expense   332    (1,058)   (1,113)   (144)
SCHEDULE OF COMPONENTS OF DEFERRED TAX

Significant components of deferred tax were as follows:

  

Property and

equipment

   Allowance for expected credit losses   Net operating loss     Total   Total 
   HKD’000   HKD’000   HKD’000     HKD’000   US$’000 
                       
As of January 1, 2022   329    -           -      329    42 
Recognized in statements of loss   (15)   -     -      (15)   (2)
                           
As of December 31, 2022   314    -    

-

     314    40 
Recognized in statements of loss   (15)   1,806    

-

     1,791    231 
              

            
As of December 31, 2023   299    1,806    

-

     2,105    271 
Recognized in statements of loss   (112)   (236)    1,330      982    126 
                             
As of December 31, 2024   187    1,570     1,330      3,087    397