Company: KMRK
Filing Date: 2025-08-15
Form Type: 20-F
Source: 0001213900-25-077494
Chunk: 84

Company: K-TECH SOLUTIONS CO LTD
Filing Date: 2025-08-15
Form: 20-F
Item: Item 5
Chunk 84
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 bank borrowing of approximately US$0.2 million, payment of lease
liabilities of approximately US$0.1 million and net repayment of related parties of approximately US$0.1 million.

CONSOLIDATED AND COMBINED BALANCE SHEETS

                                                  As of March 31,                                          
                                                  2025                                2024                 
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                  US$                                 US$                  
  Assets                                                                                                   
  Current assets:                                                                                          
  Cash and cash equivalents                                            4,373,256                5,385,536  
  Accounts receivable, net                                             1,387,915                1,224,980  
  Amounts due from related parties                                             -                   12,583  
  Tax refundable                                                          97,858                        -  
  Prepayments, deposits and other receivable                             454,700                   27,307  
  Total current assets                                                 6,313,729                6,650,406  
  Liabilities                                                                                              
  Current liabilities:                                                                                     
  Bank loans                                                             184,334                  187,288  
  Accounts payable                                                     1,716,216                  987,666  
  Other payables and accrued liabilities                                 168,170                    8,631  
  Contract liabilities                                                   430,735                  518,441  
  Amounts due to related parties                                         450,894                2,478,554  
  Tax payable                                                                  -                  136,623  
  Lease liabilities under finance leases                                 175,315                  110,513  
  Total current liabilities                                            3,125,664                4,427,716  
  Net Current Assets                                                   3,188,065                2,222,690  

Accounts receivable, net

Accounts receivable represented
receivables from our customers arising from our services. We generally grant our customers a credit period typically ranging from 0 to
60 days, depending on their reputation and transaction history. Our accounts receivable, net increased by 13.3% to US$1.39 million as
of March 31, 2025, from US$1.22 million as of March 31, 2024 as a result of extending repayment periods for old customers to maintaining
a positive and supportive relationship with the customers.

Amounts due (to)/ from related parties

                                                                                                     As of March 31,                                          
  Name of related