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v3.25.1

Property, plant and equipment | 12 Months Ended
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Dec. 31, 2024
Notes and other explanatory information [abstract] |
Property, plant and equipment | 12. Property, plant and equipment Schedule of Property, Plant and Equipment
|  | Leasehold |  |  | Plant and |  |  | Office |  |  | Motor |  |  |  |
|  | improvements |  |  | machinery |  |  | equipment |  |  | vehicle |  |  | Total |
|  | HK$ |  |  | HK$ |  |  | HK$ |  |  | HK$ |  |  | HK$ |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
January 1, 2023 |  |  | 118,492,499 |  |  |  | 27,449,585 |  |  |  | 2,031,408 |  |  |  | - |  |  |  | 147,973,492 |
Additions |  |  | 39,658,741 |  |  |  | 4,971,545 |  |  |  | 981,818 |  |  |  | - |  |  |  | 45,612,104 |
Disposals |  |  | - |  |  |  | (137,998 | ) |  |  | (45,818 | ) |  |  | - |  |  |  | (183,816 | )
Written off |  |  | (7,935,580 | ) |  |  | (5,741,030 | ) |  |  | (673,237 | ) |  |  | - |  |  |  | (14,349,847 | )
Transfer to assets classified as held for sale |  |  | (18,267,902 | ) |  |  | (2,949,730 | ) |  |  | (272,354 | ) |  |  | - |  |  |  | (21,489,986 | )
December 31, 2023 |  |  | 131,947,758 |  |  |  | 23,592,372 |  |  |  | 2,021,817 |  |  |  | - |  |  |  | 157,561,947 |
Cost, beginning |  |  | 131,947,758 |  |  |  | 23,592,372 |  |  |  | 2,021,817 |  |  |  | - |  |  |  | 157,561,947 |
Additions |  |  | 6,451,975 |  |  |  | 1,137,141 |  |  |  | 264,025 |  |  |  | 20,000 |  |  |  | 7,873,141 |
Written off |  |  | (3,934,125 | ) |  |  | (924,330 | ) |  |  | (65,283 | ) |  |  | - |  |  |  | (4,923,738 | )
December 31, 2024 |  |  | 134,465,608 |  |  |  | 23,805,183 |  |  |  | 2,220,559 |  |  |  | 20,000 |  |  |  | 160,511,350 |
Cost, ending |  |  | 134,465,608 |  |  |  | 23,805,183 |  |  |  | 2,220,559 |  |  |  | 20,000 |  |  |  | 160,511,350 |
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
January 1, 2023 |  |  | 42,808,392 |  |  |  | 10,454,220 |  |  |  | 846,972 |  |  |  | - |  |  |  | 54,109,584 |
Charge for the year |  |  | 30,561,795 |  |  |  | 4,824,258 |  |  |  | 409,898 |  |  |  | - |  |  |  | 35,795,951 |
Disposals |  |  | - |  |  |  | (78,784 | ) |  |  | (43,793 | ) |  |  | - |  |  |  | (122,577 | )
Written off |  |  | (4,576,871 | ) |  |  | (2,711,267 | ) |  |  | (359,528 | ) |  |  | - |  |  |  | (7,647,666 | )
Transfer to assets classified as held for sale |  |  | (5,622,048 | ) |  |  | (635,463 | ) |  |  | (64,142 | ) |  |  | - |  |  |  | (6,321,653 | )
December 31, 2023 |  |  | 63,171,268 |  |  |  | 11,852,964 |  |  |  | 789,407 |  |  |  | - |  |  |  | 75,813,639 |
Accumulated depreciation, beginning |  |  | 63,171,268 |  |  |  | 11,852,964 |  |  |  | 789,407 |  |  |  | - |  |  |  | 75,813,639 |
Charge for the year |  |  | 28,956,777 |  |  |  | 4,671,570 |  |  |  | 408,508 |  |  |  | 2,000 |  |  |  | 34,038,855 |
Written off |  |  | (3,634,261 | ) |  |  | (717,381 | ) |  |  | (45,817 | ) |  |  | - |  |  |  | (4,397,459 | )
December 31, 2024 |  |  | 88,493,784 |  |  |  | 15,807,153 |  |  |  | 1,152,098 |  |  |  | 2,000 |  |  |  | 105,455,035 |
Accumulated depreciation, ending |  |  | 88,493,784 |  |  |  | 15,807,153 |  |  |  | 1,152,098 |  |  |  | 2,000 |  |  |  | 105,455,035 |
Impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
January 1, 2023 and December 31, 2023 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Impairment, beginning balance |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Provision |  |  | 4,549,381 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4,549,381 |
December 31, 2024 |  |  | 4,549,381 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4,549,381 |
Impairment, ending balance |  |  | 4,549,381 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4,549,381 |
Net carrying amount |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2024 |  |  | 41,422,443 |  |  |  | 7,998,030 |  |  |  | 1,068,461 |  |  |  | 18,000 |  |  |  | 50,506,934 |
December 31, 2023 |  |  | 68,776,490 |  |  |  | 11,739,408 |  |  |  | 1,232,410 |  |  |  | - |  |  |  | 81,748,308 |
Net carrying amount (US$) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2024 |  |  | 5,332,652 |  |  |  | 1,029,652 |  |  |  | 137,552 |  |  |  | 2,317 |  |  |  | 6,502,173 |
Net carrying amount |  |  | 5,332,652 |  |  |  | 1,029,652 |  |  |  | 137,552 |  |  |  | 2,317 |  |  |  | 6,502,173 |
MasterBeef Group and its subsidiaries Notes to the Consolidated Financial Statements (Continued) December 31, 2024, 2023 and 2022
| 12. | Property, plant and equipment (continued)
During the year, the Group does not dispose of property, plant and equipment. (2023: the Group disposed of property, plant and equipment with net book value of HK$61,239 at a consideration of HK$61,239.) During the year, the Group write off of property, plant and equipment with net book value of HK$526,277 due to reallocation of restaurant. (2023: the Group write off of property, plant and equipment with net book value of HK$6,702,181 due to termination of a warehouse tenancy agreement and malfunction of plant and machinery and office equipment.) During the year, an impairment loss of HK$4,549,381 was recognised for the leasehold improvements. The Group has identified that its property, plant and equipment constitute a cash-generating unit that has been reporting persistent operating losses over 2 consecutive reporting periods. This sustained underperformance triggered a formal impairment assessment and a fully impairment loss has been made on the net carrying amount of assets. MasterBeef Group and its subsidiaries Notes to the Consolidated Financial Statements (Continued) December 31, 2024, 2023 and 2022

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