Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 241

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 19
Chunk 241
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                                  $                  169,834      $                 -  

Note:
As of September 30, 2024, the Company has both long-term and short-term deposit and prepayment for financial services related to ELOC.

NOTE
5 - CONTRACT ASSETS

Contract
assets are presented net of allowance for credit loss:

SCHEDULE
OF CONTRACT ASSETS NET OF ALLOWANCE FOR CREDIT LOSS

                                                2023                                   2024                
                                                As of September 30,                                        
                                                2023                                   2024                
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────
  Contract assets                               $                         556,239      $          912,349  
  Less: allowance for expected credit loss                               ( 12,401                ( 14,940  
  Total                                         $                         543,838      $          897,409  

The
movement of allowances for credit loss is as follow:

SCHEDULE
OF ALLOWANCE FOR CREDIT LOSS

                                        2023                                   2024                
                                        As of September 30,                                        
                                        2023                                   2024                
  Balance at beginning of the year      $                         ( 1,102      $         ( 12,401  
 ───────────────────────────────────────────────────────────────────────────────────────────────────
  Increase                                                       ( 11,299                 ( 2,539  
  Total                                 $                        ( 12,401      $         ( 14,940  

NOTE
6 - PROPERTY, PLANT AND EQUIPMENT, NET

As of September 30, 2023 and 2024, property, plant and equipment,
net consisted of the following:

SCHEDULE
OF PROPERTY, PLANT, AND EQUIPMENT

                                                   2023                                  2024                
                                                   As of September 30,                                       
                                                   2023                                  2024                
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Fixture, Furniture and Equipment                 $                         20,662      $           63,101  
  Leasehold improvement                                                           -                  87,172  
  Total property plant and equipment, at cost                                20,662                 150,273  
  Less: accumulated depreciation                                            ( 7,388                ( 27,172  
  Total property, plant and equipment, net         $                         13,274      $          123,101  

Depreciation expenses for the years ended
September 30, 2022,