Company: TOP
Filing Date: 2025-08-13
Form Type: 20-F
Source: 0001213900-25-075728
Chunk: 91

Company: TOP Financial Group Ltd
Filing Date: 2025-08-13
Form: 20-F
Item: Item 19
Chunk 91
---
                   719,579                   775,464  
  Occupancy                                                                                                     130,734                   133,304                   124,792  
  Travel and business development                                                                                57,105                   120,114                   188,963  
  Professional fees                                                                                             586,959                 1,825,913                 1,207,552  
  Allowance for expected credit loss                                                                          2,679,859                   170,643                         -  
  Impairment of long-term investment                                                                            256,420                         -                         -  
  Other administrative expenses                                                                               1,713,738                   394,101                   140,784  
  Total expenses                                                                                              9,152,500                 7,049,258                 6,266,139  
  Income (loss) before income taxes                                                                         ( 5,823,244                   987,847                 3,429,263  
  Income tax benefits (expense)                                                                               ( 146,104                    63,692                  ( 31,520  
  Net income (loss)                                                                                         ( 5,969,348                 1,051,539                 3,397,743  
  Other comprehensive income (loss)                                                                                                                                          
  Total foreign currency translation adjustment                                                                 251,524                 ( 205,352                   115,501  
  Total comprehensive (loss) income                                      $                                  ( 5,717,824      $            846,187      $          3,513,244  
  Earnings (loss) per share:                                                                                                                                                 
  Basic and diluted                                                      $                                       ( 0.16      $               0.03      $               0.10  
  Weighted average number of ordinary shares outstanding:                                                                                                                    
  Basic and Diluted                                                                                          37,031,391                32,278,485                34,165,920  

The
accompanying notes are an integral part of these consolidated financial statements.

F-4

TOP
Financial Group Limited

Consolidated
Statements of Changes in Shareholders’ Equity

(Expressed
in U. S. dollar, except for the number of shares)

                                                                                                                                  Additional                                                                   
                                                                                                                                  Paid-in                                                                      
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                                                                                  Capital                                                                      
  Balance as of March 31, 2022                                                                        30,000