Company: BGHL
Filing Date: 2025-09-22
Form Type: F-1/A
Source: 0001213900-25-089787
Chunk: 180

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-09-22
Form: F-1/A
Chunk 180
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 the U.S. generally accepted accounting principles or GAAP on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Accordingly, the combined financial statements do not include any adjustments relating to the recoverability of assets and classification of liabilities that might be necessary should the Group be unable to continue as a going concern. (c)Segments ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Group’s internal organizational structure as well as information about geographical areas, business segments and major customers in combined financial statements for detailing the Group’s business segments. Based on the criteria established by ASC 280, the Group’s chief operating decision maker (“CODM”) has been identified as the Chief Executive Officer, who reviews combined results when making decisions about allocating resources and assessing performance of the Group. As a whole and hence, the Group operates in one reportable segment and solely within Hong Kong. The Group does not distinguish between markets or segments for the purpose of internal reporting. Accordingly, no segment or geographic information has been presented. (d)Use of estimates The preparation of these combined financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. Actual results may differ from those estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised and in any future periods affected. Area requiring a significant degree of estimation include allowance for credit losses. (e)Financial instruments Financial instruments of the Group primarily consist of cash and cash equivalents, accounts receivable, other current assets, amounts due with former related companies, accounts payable and accrued expenses and other current liabilities. The carrying values of the Group’s financial instruments approximate their fair values, principally because of the short -termmaturity of these instruments or their terms. The Group has no derivative financial instruments. (f)Cash and cash equivalents Cash and cash equivalents consist of cash on hand and highly liquid investments which are unrestricted as to withdrawal or use, and which have maturities of three months or less when purchased. F-8 BILLION GROUP HOLDINGS LIMITED
NOTES TO THE COMBINED FINANCIAL STATEMENTS 1. SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (cont.) (g)Revenue recognition Sales of food products are for cash or otherwise agreed -uponcredit terms. Our payment terms vary by customer.