Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 147

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4A
Chunk 147
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2024 because the number of transactions processed by the banks increased during the year.

Building management fee

It represented the building
management fees paid for its office facilities in PRC, Hong Kong and Taiwan. It increased by HKD4,191 or 3%, to HKD164,960 (US$21,126)
in the year ended June 30, 2024 from HKD160,769 in the year ended June 30, 2023. There is no material fluctuation during the year.

Depreciation

The Group incurred depreciation
expense for its leasehold improvements, furniture and fixtures and office equipment. Depreciation expense decreased by HKD44,251 or -29%,
to HKD110,206 (US$14,114) in the year ended June 30, 2024 from HKD154,457 in the year ended June 30, 2023. The depreciation expense incurred
in the fiscal year 2024 decreased because there are more fully depreciated property and equipment for the year ended June 30, 2024 compared
with the same period of 2023.

Insurance

Insurance cost included professional
indemnity for the directors, the medical insurance and employee compensation insurance premiums the Group paid for its employees. Insurance
cost decreased by HKD26,318 or -9%, to HKD273,184 (US$34,986) in the year ended June 30, 2024 from HKD299,502 in the year ended June 30,
2023. It represented the exchange difference between the US$ charged by the insurance company and the HKD used as the presentation currency
of the Group. There is no material fluctuation during the year.

Internet and IT service fee

Internet and IT service fee
included, the consulting and service fee paid to internet service providers and the maintenance service rendered from third-party service
providers. It decreased by HKD5,799 or -2%, to HKD355,040 (US$45,470) in the year ended June 30, 2024 from HKD360,839 in the year ended
June 30, 2023. There is no material fluctuation during the year.

Meal and Entertainment

Compared to the year ended
June 30, 2023, the Group’s meal and entertainment in the year ended June 30, 2023 increased by HKD10,176 or 5%, from HKD192,464
in 202