Company: KMRK
Filing Date: 2025-01-02
Form Type: DRS
Source: 0001213900-25-000267
Chunk: 185

Company: K-TECH SOLUTIONS CO LTD
Filing Date: 2025-01-02
Form: DRS
Chunk 185
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,307 |     |         — |
| Remarkable Group Holdings     
 Limited                       |     | Related company with common directors |     | Payments of lease liabilities             |     |                    — |     |    15,338 |

NOTE 20 — FAIR VALUES OF FINANCIAL ASSETS AND LIABILITIES ASC Topic 825, Financial Instruments, requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non -recurringbasis. The following summarizes the methods and significant assumptions we used in estimating our fair value disclosures for financial instruments: •For cash and cash equivalents, Accounts receivable, amounts due from related parties, deposits and other receivables, accounts payable, other payable and accrued liabilities and amounts due to related parties, their carrying values approximate their estimated fair values due to short -termnature of these items; •For bank loans and lease liabilities classified under current liabilities, their carrying values approximate their estimated fair values due to short -termnature of these items; •For bank loans and lease liabilities classified under non -currentliabilities, their fair values are estimated by discounting scheduled future payments of principal and interest at current rates available on these financial liabilities with similar terms. The differences between their carrying values and estimated fair values are considered as insignificant.

F-21 K-TECH SOLUTIONS COMPANY LIMITED AND SUBSIDIARYNOTES TO COMBINED FINANCIAL STATEMENTS
(Currency expressed in United States Dollars (“US$”) NOTE 21 — MAJOR NON-CASH TRANSACTIONS During the year ended March 31, 2023, the Company had the following major non -cashtransactions: •On March31, 2023, the Company declared a dividend of US$191,332 to the shareholders of the Company, Kwok Yiu Keung and Kwok Yiu Fai, who are also the directors of the Company, by offsetting through the balances with Kwok Yiu Keung of US$95,666 and Kwok Yiu Fai of US$95,666 respectively; •On March31, 2023, the Company entered into an offsetting agreement with Kwok Yiu Keung and Kwok Yiu Fai, both the directors of the Company, pursuant to which the amount due from Kwok Yiu Fai of US$110,612 was offset against the amount due to Kwok Yiu Keung of US$110,612; •