v3.25.4

Lease | 12 Months Ended
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Sep. 30, 2025
Lease [Abstract] |
LEASE | 8. LEASE The Company’s leasing activities primarily consist of offices leased from third party which are operating lease and lease of vehicle from third party which is finance lease. ASC 842 requires leases to recognize right-of-use assets and lease liabilities on the balance sheet. The Company has elected an accounting policy to not recognize short-term leases (one year or less) on the balance sheet. As of September 30, 2024 and 2025, the finance lease’s weighted average remaining lease term was 1.17 years and 0.96 years, respectively. As of September 30, 2024 and 2025, the weighted average discount rate was 4.73% and 4.73%, respectively.
|  | As of September 30, |  |  | As of September 30, |
|  | 2025 |  |  | 2025 |  |  | 2024 |
|  | HK$ |  |  | US$ |  |  | HK$ |
Right-of -use asset-finance lease |  |  |  |  |  |  |  |  |
Motor vehicle |  |  | 590,215 |  |  |  | 75,854 |  |  |  | 590,215 |
Accumulated amortization |  |  | (577,391 | ) |  |  | (74,206 | ) |  |  | (500,445 | )
Right-of -use asset-finance lease, net |  |  | 12,824 |  |  |  | 1,648 |  |  |  | 89,770 |
Lease liability – finance lease, current portion |  |  | 20,902 |  |  |  | 2,686 |  |  |  | 122,156 |
Lease liability – finance lease, non-current portion |  |  | — |  |  |  | — |  |  |  | 20,902 |
Total finance lease liability |  |  | 20,902 |  |  |  | 2,686 |  |  |  | 143,058 |
|  | As of September 30, |  |  | As of September 30, |
|  | 2025 |  |  | 2025 |  |  | 2024 |
|  | HK$ |  |  | US$ |  |  | HK$ |
Right-of -use asset-operating lease |  |  |  |  |  |  |  |  |
Office lease |  |  | 1,634,357 |  |  |  | 210,047 |  |  |  | 1,634,357 |
Accumulated amortization |  |  | (637,573 | ) |  |  | (81,941 | ) |  |  | (117,539 |
Right-of -use asset-operating lease, net |  |  | 996,784 |  |  |  | 128,107 |  |  |  | 1,516,818 |
Lease liability – operating lease, current portion |  |  | 546,639 |  |  |  | 70,254 |  |  |  | 520,034 |
Lease liability – operating lease, non-current portion |  |  | 450,145 |  |  |  | 57,853 |  |  |  | 996,784 |
Total operating lease liability |  |  | 996,784 |  |  |  | 128,107 |  |  |  | 1,516,818 |
The components of lease costs were as follows:
|  |  |  |  |  |  |  |  |  |  | (Successor) |  |  | (Predecessor) |
|  | For the year ended September 30, 2025 |  |  | For the year ended September 30, 2024 |  |  | From October 12, 2022 to September 30, 2023 |  |  | From October 1, 2022 to October 11, 2022 |
|  | HK$ |  |  | US$ |  |  | HK$ |  |  | HK$ |  |  | HK$ |
Operating lease costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of operating lease asset |  |  | 520,034 |  |  |  | 66,835 |  |  |  | 117,539 |  |  |  | — |  |  |  | — |
Interest on lease liability |  |  | 64,030 |  |  |  | 8,229 |  |  |  | 6,496 |  |  |  | — |  |  |  | — |
Unrecognized ROU(i) |  |  | — |  |  |  | — |  |  |  | 173,797 |  |  |  | 460,800 |  |  |  | — |
Total operating lease costs |  |  | 584,064 |  |  |  | 75,064 |  |  |  | 297,832 |  |  |  | 460,800 |  |  |  | — |
Finance lease costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of finance lease asset |  |  | 76,946 |  |  |  | 9,889 |  |  |  | 76,946 |  |  |  | 248,620 |  |  |  | — |
Interest on lease liability |  |  | 3,904 |  |  |  | 502 |  |  |  | 9,226 |  |  |  | 14,316 |  |  |  | — |
Total finance lease costs |  |  | 80,850 |  |  |  | 10,391 |  |  |  | 86,172 |  |  |  | 262,936 |  |  |  | — |
(i) | Excluding cost of short-term contracts. The Company also have another lease agreement with one year term, for which the 2024 elected to not recognize right-of-use assets on balance sheet and expensed on straight-line method. The lease term was commenced from March 1, 2022 with monthly lease expense of HK$38,400. Short-term lease costs for the years ended September 30, 2023, 2024 and 2025 were HK$460,800, HK$173,797 and Nil, respectively, which were charged to general and administrative expenses.
Finance lease costs were recorded as general and administrative expenses and interest expenses. The operating lease expenses were charged to general and administrative expenses. No lease costs for operating and finance leases were capitalized. Future lease payments under lease liabilities as of September 30 were as follows:
|  | Operating leases |  |  | Finance leases |
|  | HK$ |  |  | US$ |  |  | HK$ |  |  | US$ |
Period ended September 30, |  |  |  |  |  |  |  |  |  |  |  |
2026 |  |  | 584,064 |  |  |  | 75,064 |  |  |  | 21,020 |  |  |  | 2,701 |
2027 |  |  | 460,029 |  |  |  | 59,123 |  |  |  | — |  |  |  | — |
Total future lease payments |  |  | 1,044,093 |  |  |  | 134,187 |  |  |  | 21,020 |  |  |  | 2,701 |
Less: Imputed interest |  |  | (47,309 | ) |  |  | (6,080 | ) |  |  | (118 | ) |  |  | (15 | )
Total lease liabilities balance |  |  | 996,784 |  |  |  | 128,107 |  |  |  | 20,902 |  |  |  | 2,686 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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