Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 244

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 19
Chunk 244
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 AND ACCRUED LIABILITIES

                                       2023                                    2024               
                                       As of September 30,                                        
                                       2023                                    2024               
 ──────────────────────────────────────────────────────────────────────────────────────────────────
  Accrued staff salaries               $                          133,799      $          47,087  
  Accrued administrative expenses                                 191,603                182,176  
  Accrued offering costs                                          762,821                  2,564  
  Other payables                                                    7,793                  3,366  
  Total                                $                        1,096,016      $         235,193  

NOTE
9 - SEGMENT INFORMATION

The Company follows FASB ASC Topic 280,
Segment Reporting, which requires that companies disclose segment data based on how management makes decision about allocating resources
to segments and evaluating their performance. Reportable operating segments include components of an entity about which separate financial
information is available and which operating results are regularly reviewed by the chief operating decision maker (“ CODM”),
Mr. Wai Yiu Yau, to make decisions about resources to be allocated to the segment and assess each operating segment’s performance.

Based on the management’s assessment,
the Company determined that it has only one operating segment which is the provision of forwarding services and therefore one reportable
segment as defined by ASC 280. For the years ended September 30, 2022, 2023 and 2024, revenue and assets within Hong Kong contributed
over 90% of the Company’s total revenue and assets. The single segment represents the Company’s core business of providing
(i) integrated cross-border logistics services; and (ii) air freight forwarding services.

Information for the Company’s breakdown
of integrated cross-border logistics revenue destination for the years ended September 30, 2022, 2023 and 2024 are as follows:

SCHEDULE
OF INTEGRATED CROSS BORDER LOGISTICS REVENUE

                                                       For the year ended                                                                                  
                                                       September 30,                                                                                       
                                                       2022                                                                                                
                                                       USD                                                                                                 
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Australia                                            $                       17,860,666       91.9      14,985,267       88.8      13,151,359      87.0  
  New Zealand                                                                   1,583,516        8.1