Company: MEGL
Filing Date: 2025-06-27
Form Type: F-1/A
Source: 0001641172-25-016831
Chunk: 184

Company: Magic Empire Global Ltd
Filing Date: 2025-06-27
Form: F-1/A
Chunk 184
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 companies for fiscal year beginning after December 15, 2025. The Group has not early adopted this update and it will become effective on January 1, 2026. The Group does not expect any material impact on the Group’s consolidated financial statements.

In November 2024, the FASB ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”). which enhances the disclosures required for expense disaggregation in the Company’s annual and interim consolidated financial statements. ASU 2024-03 is effective for the Company for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Group is currently assessing the impact of the adoption of this standard on its consolidated financial statements disclosures.

Except as mentioned above, the Group does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Group’s consolidated balance sheets, statements of operations and statements of cash flows.

| F-21 |

<div align='center'>MAGIC EMPIRE GLOBAL LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

3. DEPOSITS AND PREPAYMENTS

Deposits and prepayments consist of the following:

|                                     |     |              As 
 of December 31, |           |     |      |         |     |      |         |
|                                     |     |            2023 |           |     | 2024 |         |     | 2024 |         |
|                                     |     |             HK$ |           |     |  HK$ |         |     |  US$ |         |
| Prepaid rent                        |     |                 |   170,335 |     |      |       — |     |      |       — |
| Prepaid building management fee     |     |                 |    31,557 |     |      |  32,633 |     |      |   4,201 |
| Prepaid governmental rent and rates |     |                 |    56,950 |     |      |  53,550 |     |      |   6,894 |
| Rental deposit                      |     |                 |   681,340 |     |      | 516,384 |     |      |  66,