8.
Prepayments and Other Assets, Net
Schedule of Prepayments and Other Assets, Net
| | |
June 30, 2026 | | |
December 31,
2025 | |
| | |
As of | |
| | |
June 30, 2026 | | |
December 31,
2025 | |
| | |
(Unaudited) | | |
(Audited) | |
| Other assets | |
$ | 194,000 | | |
$ | 116,933 | |
| Prepaid expenses | |
| 229,358 | | |
| 74,298 | |
| GST receivable | |
| 24,923 | | |
| 128,031 | |
| Less: allowance for credit losses | |
| (1,725 | ) | |
| (1,725 | ) |
| Total prepayments and other assets, net | |
| 446,556 | | |
| 317,537 | |
| Less: amounts classified as non-current assets | |
| - | | |
| (1,486 | ) |
| Amounts classified as current assets | |
$ | 446,556 | | |
$ | 316,051 | |
Uni-Fuels
Holdings Limited
Notes
to Unaudited Condensed Consolidated Financial Statements
For
the Six Months Ended June 30, 2026 and 2025
8.
Prepayments and Other Assets, Net (continued)
The
movement of allowances for credit losses is as follows:
Schedule
of Movement of Allowance for Credit Losses
| | |
2026 | | |
2025 | |
| | |
For the Six Months Ended June 30, | |
| | |
2026 | | |
2025 | |
| | |
(Unaudited) | | |
(Unaudited) | |
| Beginning balance at January 1, 2026 and 2025 | |
$ | 1,725 | | |
$ | 1,725 | |
| Allowance for credit losses | |
| - | | |
| - | |
| Ending balance at June 30, 2026 and 2025 | |
$ | 1,725 | | |
$ | 1,725 | |
|