Company: GRAN
Filing Date: 2025-03-14
Form Type: F-1/A
Source: 0001213900-25-023979
Chunk: 252

Company: Grande Group Ltd/HK
Filing Date: 2025-03-14
Form: F-1/A
Chunk 252
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. The adoption of ASC 832 did not have a material impact on the Company’s financial position, results of operations or cash flows. Accounts receivables, net Accounts receivable, net includes amounts billed under the contract terms. The amounts are stated at their net realizable value. The Company maintains an allowance for expected credit loss to provide for the estimated number of receivables that will not be collected. The Company considers several factors in its estimate of the allowance, including knowledge of a client’s financial condition, its historical collection experience, and other factors relevant to assessing the collectability of such receivables. Bad debts are written off against allowances. Leasehold improvement and equipment, net Leasehold improvement and equipment are carried at cost less accumulated depreciation. Depreciation is provided over their estimated useful lives, using the straight -linemethod. The Company typically applies a salvage value of 0%. The estimated useful lives of leasehold improvement and equipment are as follows:

| Leasehold improvement       |     | the lesser of useful life or term of lease |
| Office equipment and others |     | 4 years                                    |

F-10

NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) The cost and related accumulated depreciation of assets sold or otherwise retired are eliminated from the accounts, and any gain or loss are included in the Company’s results of operations. The costs of maintenance and repairs are recognized as incurred; significant renewals and betterments are capitalized. Deferred initial public offering (“IPO”) costs Deferred IPO costs consist of costs incurred in connection with the Company’s planned IPO in the United States. These costs, together with the underwriting discounts and commissions, will be charged to additional paid -incapital upon completion of the planned IPO or charged to consolidated statements of operations if the planned IPO is not completed. As of March31, 2024 and 2023, the Company had deferred IPO costs of $325,291 and nil, respectively. Revenue recognition Revenue from contracts with customers The Company follows the rules and guidance set out under ASC 606, when recognizing revenue from contracts with customers. The core principle of ASC 606 requires an entity to recognize revenues to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. In according with ASC 606, revenues are recognized when the Company satisfies the performance obligations by delivering the promised services to the customers, in an amount that