Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 161

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4A
Chunk 161
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473      250,121         5,084      3,625,254  
  2024 (HKD)              1,943,780      541,592       33,148         24,800            -       133,373      2,676,693  
  Change (HKD)             (571,610      132,936      283,730        981,673      250,121      (128,289        948,561  

The gross accounts receivable
increased to HKD3,625,254 (US$461,822) as of June 30, 2025 from HKD2,676,693 as of June 30, 2024. Due to its increased effort in collection
and the steady business recovery of its clients, the Group received collections HKD2,286,873 (US$291,325) in the subsequent period as
of the date this report. The Group factored the customer settlements received for its account receivables in subsequent period when it
estimated its provision for credit losses as of June 30, 2025 and 2024. The amount of provision for credit losses was HKD(77,218) (US$(9,837))
and HKD101,598 for the year ended June 30, 2025 and 2024. The Group’s allowance for credit losses as of June 30, 2025 decreased
to HKD43,402 (US$5,529) from HKD120,620 as of June 30, 2024.

Other income

Other income was primarily
comprised of interest income, interest expenses and other income (expense). The total other income for the year ended June 30, 2025 was
HKD725,272 (US$92,392), compared to the total other income of HKD264,811 for the year ended June 30, 2024. During the year ended June
30, 2025, we recognized interest income, HKD757,385 (US$96,483), interest expenses, HKD59,771 (US$7,614) and other expense, HKD27,658
(US$3,523). During the year ended June 30, 2024, we recognized interest income, HKD221,723, interest expenses, HKD34,674 and other income,
HKD77,762.