Company: NIVFW
Filing Date: 2025-03-07
Form Type: F-1
Source: 0001213900-25-021404
Chunk: 222

Company: NewGenIvf Group Ltd
Filing Date: 2025-03-07
Form: F-1
Chunk 222
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, other
receivables and deferred Initial Public Offering (“IPO”) cost, net primarily include deposits paid to suppliers, prepaid
expenses, the prepaid professional fee which meets the definition of deferred IPO cost, and other deposits.

Deferred IPO costs consist
of underwriting, legal, accounting and other expenses incurred through the balance sheet date that are directly related to the Initial
Public Offering and that were charged to shareholders’ equity upon the completion of the Initial Public Offering.

Plant and equipment, net

Plant and equipment are
stated at cost less accumulated depreciation. Depreciation is provided over their estimated useful lives, using the straight-line method.
The Company typically applies a salvage value of %.

| Furniture and fixtures |     | 3 – 5 years                                |
| Leasehold improvements |     | the lesser of useful life or term of lease |
| Medical instruments    |     | 3 – 10 years                               |
| Motor vehicle          |     | 3 – 5 years                                |
| Office equipment       |     | 3 – 5 years                                |

The cost and related accumulated
depreciation of assets sold or otherwise retired are eliminated from the accounts, and any gain or loss are included in the Company’s
results of operations. The costs of maintenance and repairs are expensed as incurred. Significant renewals and betterments that extend
the useful life of an assets are capitalized.

Impairment of long-lived assets

The Company evaluates the
long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of assets may not
be recoverable. Impairment may become obsolete from a difference in the industry, introduction of new technologies, or if the Company
has inadequate working capital to utilize the long-lived assets to generate adequate profits. Impairment is present if the carrying
amount of an asset is less than its expected future undiscounted cash flows.

If an asset is considered
impaired, a loss is recognized based on the amount by which the carrying amount exceeds the fair market value of the asset. Assets to
be disposed of are reported lower the carrying amount or fair value less cost to sell.

F-44 NEWGENIVF GROUP LIMITED
NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 2024 AND 2023
(Stated in US Dollars) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)

Inventories

Inventories are