| Right-of-use assets |
Right-of-use assets | | | | | | | | | | | Leased properties | | As at December 31, 2024 | | | | Carrying amount | | $ | 1,463,566 | | | As at December 31, 2025 | | | | Carrying amount | | $ | 2,875,107 | | | For the year ended December 31, 2024 | | | | Depreciation charge | | $ | 2,489,615 | | | Gain on early termination of lease | | (104,493) | | | For the year ended December 31, 2025 | | | | Depreciation charge | | $ | 1,215,689 | |
| | | | | | | | | | | | | 2025 | | 2024 | | Total cash outflow for leases | $ | 1,329,298 | | | $ | 2,541,362 | | | Additions to right-of-use assets | 2,557,828 | | | 1,114,252 | |
For current year, the Group leased various offices for its operations. Lease contracts are entered into for fixed term of two to three years. Lease terms are negotiated on an individual basis and contain different terms and conditions. In determining the lease term and assessing the length of the non-cancellable period, the Group applies the definition of a contract and determines the period for which the contract is enforceable. Lease liabilities | | | | | | | | | | | | | 2025 | | 2024 | | Lease liabilities payable: | | | | | Within one year | $ | 1,297,001 | | | $ | 1,116,827 | | | Within a period of more than one year but not exceeding two years | 915,552 | | | 457,711 | | | Within a period of more than two years but not exceeding five years | 758,642 | | | 39,367 | | | 2,971,195 | | | 1,613,905 | | | Less: Amount due for settlement with 12 months shown under current liabilities | (1,297,001) | | | (1,116,827) | | | Amount due for settlement after 12 months shown under non-current liabilities | $ | 1,674,194 | | | $ | 497,078 | |
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