Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 185

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 18
Chunk 185
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                   808  
  Income tax payable                                17                                 5                     1  
  Other payables                                 2,471                                36                     4  
  Total                                          7,049                             6,313                   813  

Note
9Credit facilities

As
of December 31, 2024 and 2023, bank loan consisted of the following:

Schedule of bank loan

                                                         HK$’000                      HK$’000              
                                                         December 31                                       
  Bank Name                      Nature of Loan          2023                         2024                 
                                                         HK$’000                      HK$’000              
  Bank of China (Hong Kong)      Revolving loan (1)                       11,000                   11,000  
  Total                                                                   11,000                   11,000  

  (1)      This                                                                                                                                           
           loan is a revolving loan up to HK$ 11,000,000, carries an interest of 2.25% below Hong Kong prime rate and is collateralized by the Company’s  
           office premises located in Hong Kong; a Hong Kong property jointly owned by Mr. Li and his spouse and a personal guarantee from Mr.            
           Li. This loan was first drawn down on October 22, 2018 and has been rolled over for every six-month period. The Company recognized             
           this loan as short-term bank borrowing in its consolidated financial statements. The security charged over the Company’s office                
           premises located in Hong Kong was released since September 29, 2022.                                                                           
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

Interest
expenses incurred from bank borrowings were HK$ 474,000 396,000 313,000 3.6 3.6 2.8

Note
10Related party balances and transactions

Related
party balances

The
related party balances consisted of the following:

Schedule of related party balances

  Name                                      Relationship                                        Nature                                          Classification                      December 31, 2023                                 
                                                                                                                                                                                    (HK$’000)                                         
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Mr. Li                                    Former sole shareholder and executive director      Advance from a former sole shareholder          Amounts due to related parties                               151      1,714      221  
  Mr. Chiu Yat