Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 145

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 19
Chunk 145
---
,350  
  Furniture                                            292,724                  292,724                 37,685  
  Motor                                              1,904,972                1,904,972                245,242  
  Office                                               108,995                  108,995                 14,032  
  Total                                              4,064,908                4,064,908                523,309  
  Less:                                              2,369,902                2,750,897                354,146  
  Net                                                1,695,006                1,314,011                169,163  

Depreciation
expenses recognized for the years ended December 31, 2024, 2023 and 2022 were HK$ 380,995 49,049 209,966 62,683

5. RIGHT-OF-USE ASSETS AND OPERATING LIABILITIES

As
of December 31, 2024, the Group subsisted of the following non-cancellable lease contracts.

  Description                Lease                                                
  of lease                   term                                                 
  Office                     3 years from November 16, 2024 to November 15, 2027  
  at Central, Hong Kong                                                           
 ──────────────────────────────────────────────────────────────────────────────────

  (a)      Amounts                                        

SCHEDULE OF RIGHT
OF USE ASSETS AND OPERATING LEASE LIABILITIES

                                   As                                                                              
                                   of December 31,                                                                 
                                   2023                                2024                     2024               
                                   HK$                                 HK$                      US$                
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Right-of-use                                          1,658,382                4,188,215                539,183  
  Operating                                                                                                        
  Current                                               1,746,317                1,204,436                155,057  
  Non-current                                                   —                3,063,509                394,390  
  Total                                                 1,746,317                4,267,945                549,447  

MAGIC
EMPIRE GLOBAL LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

  RIGHT-OF-USE                                    
  ASSETS AND OPEARTING LEASE LIABILITIES (cont.)  
 ──────────────────────────────────────────────────

  (b)      A                                                                                                                             

SCHEDULE OF SUPPLEMENTAL
CASH