Company: MEGL
Filing Date: 2025-05-09
Form Type: F-1
Source: 0001641172-25-009448
Chunk: 90

Company: Magic Empire Global Ltd
Filing Date: 2025-05-09
Form: F-1
Chunk 90
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  1,096,249 |     |      |     885,448 |     |      |    113,991 |
| Total                       
 current assets              |     |                 | 96,256,048 |     |      | 130,640,958 |     |      | 16,818,486 |
| Current liabilities         |     |                 |            |     |      |             |     |      |            |
| Accruals and other payables |     |                 |  1,079,000 |     |      |     693,234 |     |      |     89,246 |
| Contract liabilities        |     |                 |  1,164,000 |     |      |   1,644,000 |     |      |    211,645 |
| Operating lease liabilities |     |                 |  1,746,317 |     |      |   1,204,436 |     |      |    155,057 |
| Total                       
 current liabilities         |     |                 |  3,989,317 |     |      |   3,541,670 |     |      |    455,948 |
| Net                         
 current assets              |     |                 | 92,266,731 |     |      | 127,099,288 |     |      | 16,362,538 |

| 53 |

Accounts Receivable

Our accounts receivable represented receivables from clients of our corporate finance advisory services. Accounts receivable from corporate finance advisory services included service fees billed but not yet settled. We do not grant credit terms to our clients. We issue an invoice to our clients of corporate finance advisory services after a milestone specified under our mandate is achieved or upon completion of the transaction.

Our accounts receivable balance decreased by HK$508,218, or 22.1% from HK$2,302,436 as of December 31, 2023 to HK$1,794,218 (US$230,984) as of December 31, 2024. The decrease was mainly due to billing made prior to year-end of 2023 remain unsettled while billing made prior to year-end of 2024 decreased.

An impairment analysis is performed on a regular basis. During the years ended December 31, 2023 and 2024, we had not made any provision for credit losses in relation to our accounts receivable.

Deposits and