Company: KPEA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023821
Chunk: 51

Company: Kun Peng International Ltd.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 51
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ables included the following:

SCHEDULE OF TRADE AND OTHER PAYABLES

    June 30,  
    September 30, 

    2025  
    2024 

    Accrued expenses to service agents 
    $3,083,836  
    $3,056,730 
  
    Refundable deposit to third-party individuals 
     244,291  
     - 
  
    Expense reimbursement payable 
     107,536  
     54,892 
  
    Customer deposits 
     50,393  
     45,600 
  
    Deposit payable to suppliers 
     26,523  
     17,670 
  
    Others 
     4,660  
     33,534 
  
    Total trade and other payables 
    $3,517,239  
    $3,208,426 

NOTE
10 - DEFERRED REVENUE

SCHEDULE
OF DEFERRED REVENUE

    June 30,  
    September 30, 

    2025  
    2024 

    Advance payments from customers 
    $504,385  
    $584,116 
  
    Total deferred revenue 
    $504,385  
    $584,116 

Deferred
revenue results from transactions where the Company has received the payments from the customers but revenue recognition criteria under
the five-step model have yet to be met. As of June 30, 2025 and September 30, 2024, the Company had total deferred revenue of $504,385
and $584,116, respectively. Once the five-step model criteria have been satisfied, revenues will
be recognized upon the transfer of risk and rewards to the customers. Management has agreed that the amount received is non-refundable.
However, this term is not bound by any written agreement. Thus, the customers may have the right to challenge and demand that the advances
be refunded under relevant commercial laws and regulations.

NOTE
11 - RELATED PARTY TRANSACTIONS

Acquisition
of Kun Pin Hui (Shandong) Trading Co. Ltd.

On
April 3, 2024, King Eagle (Tianjin) entered into a Share Transfer Agreement (the “Share Purchase Agreement”) with Zhandong
Fan and Yuanyuan Zhang for the acquisition of all the subscribed shares of Kun Pin Hui (Shandong) Trading