Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 254

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 19
Chunk 254
---
          15,366  
  Recovery                                   ( 11,767                ( 115,535               ( 14,718  
  Addition                                    113,365                   38,317                  4,881  
  Ending balance         $                    120,620      $            43,402      $           5,529  

Note 5 - Prepayment, deposits and other
receivables

Prepayment, deposits and other
receivables included the following:

                                                                               As of June 30,                                                                
                                                                               2024                               2025                                       
                                                                               HKD                                HKD                      US$               
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Prepayments (1)                                                              $                     698,581      $           153,818      $         19,595  
  Other deposits (2)                                                                               1,335,268                  872,428               111,139  
  Rental deposits                                                                                          -                  516,293                65,770  
  Remuneration receivables from the customers to customers’ employees (3)                            753,715                  432,116                55,048  
  Total Prepayment, deposits and other receivables, net                        $                   2,787,564      $         1,974,655      $        251,552  

  (1)      It includes the expenses paid in advance to service providers.  

  (2)      It is refundable deposits to in-country partners upon the termination of services.  

  (3)      It represents the unsettled payments from customers in respect of the Group’s invoices issued for payments of salaries and other statutory contributions (if applicable) of employees of the cust...  

F-19

Note 6 - Property and equipment, net

Property and equipment consisted
of the following:

                                      As of June 30,                                                                  
                                      2024                               2025                                         
                                      HKD                                HKD                      US$                 
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Leasehold improvements              $                     229,624      $           229,624      $           29,252  
  Furniture and fixtures                                    102,000                  102,000                  12,994  
  Office equipment                                          699,851                  767,502                  97,772  
  Subtotal                                                1