Company: NIVFW
Filing Date: 2025-03-07
Form Type: F-1
Source: 0001213900-25-021404
Chunk: 201

Company: NewGenIvf Group Ltd
Filing Date: 2025-03-07
Form: F-1
Chunk 201
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3, and 2022.

F-23 NEWGENIVF LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021
(Stated in US Dollars)

NOTE 7 — ACCRUED LIABILTIES AND OTHER PAYABLES

Accrued liabilities and other payables consist of the following:

|                               |     | December 31, |    2023 |     |   |    2022 |
|:------------------------------|:----|:-------------|--------:|:----|:--|--------:|
| Accrued expenses              |     | $            |  43,633 |     | $ |  22,345 |
| Other tax payable             |     |              |       — |     |   |   3,180 |
| Withholding tax payable       |     |              |   7,349 |     |   |  82,240 |
| Compensation payable (Note 1) |     |              | 144,015 |     |   | 117,935 |
| Other payables                |     |              |  46,616 |     |   |  64,077 |
|                               |     | $            | 241,613 |     | $ | 289,777 |

NOTE 8 — CONTRACT LIABILITIES

Contract liabilities consist of the following:

|                                  |     | December 31, |       2023 |   |     |   |      2022 |   |
|:---------------------------------|:----|:-------------|-----------:|:--|:----|:--|----------:|:--|
| Balance at beginning             
 of year                          |     | $            |  1,360,168 |   |     | $ |   812,158 |   |
| Additions                        |     |              |    112,006 |   |     |   | 1,360,168 |   |
| Recognized to revenue during the 
 year                             |     |              |   (122,662 | ) |     |   |  (812,158 | ) |
| Refund                           
 to customers (Note 1)            |     |              | (1,341,575 | ) |     |   |         - |   |
| Balance                          
 at end of year                   |     | $            |