| PREPAID EXPENSES AND OTHER ASSETS |
NOTE
6. PREPAID EXPENSES AND OTHER ASSETS
Prepaid
expenses and other assets consisted of the following:
Schedule of prepaid expenses and other assets
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As of September 30, | |
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2024 | | |
2025 | |
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HK$ | | |
HK$ | |
| Prepaid investor-searching expenses – current | |
(A) | |
| — | | |
| 3,642,090 | |
| Prepaid marketing expenses – current | |
(B) | |
| 3,286,530 | | |
| — | |
| Prepaid marketing expenses – non-current | |
(B) | |
| 1,917,143 | | |
| — | |
| Prepayment for purchase of intangible assets – non-current | |
(C) | |
| 2,000,000 | | |
| 2,000,000 | |
| Other prepaid expenses – current | |
(D) | |
| 828,973 | | |
| 1,064,035 | |
| Other prepaid expenses – non-current | |
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| — | | |
| 495,000 | |
| Advances to staff | |
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| 75,172 | | |
| 37,000 | |
| Deposits – current | |
(E) | |
| 823,201 | | |
| 680,210 | |
| Deposits – non-current | |
(E) | |
| 545,680 | | |
| 953,366 | |
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| 9,476,699 | | |
| 8,871,701 | |
| Prepaid expenses and other assets – current | |
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| 5,013,876 | | |
| 5,423,335 | |
| Prepaid expenses and other assets – non-current | |
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| 4,462,823 | | |
| 3,448,366 | |
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| 9,476,699 | | |
| 8,871,701 | |
| (A) |
Mainly related to
bridging activities to search for potential investors aiming to explore the strategic opportunities to expand the business. |
| (B) |
Mainly related to
marketing activities which are used to promote and market the Group’s brand name as steps to expand the business. |
| (C) |
Mainly consist of
fees prepaid for system development which are used to improve internal working efficiency. The service provider was reviewing
the enterprise resource planning system being used by the Group, and will propose improvement suggestion. |
| (D) |
Mainly consist of
prepayments for insurance including directors and officers liability insurance and various insurance for daily operations
such as contractors’ all risk insurance, office package insurance, and group medical insurance. |
| (E) |
Deposits consist
of deposits paid to utility service providers such as power and water supplies, landlords of the leased properties, and management
offices of the leased or owned properties. The deposits are refundable upon termination or expiry of corresponding services
and rental. |
No
provision was made for credit loss of other assets for the years ended September 30, 2024, and 2025.
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