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Right-of-use assets | 12 Months Ended
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Dec. 31, 2024
Right-of-use assets | 13. Right-of-use assets Schedule of detailed information about right-of-use assets
|  | Leased |
|  | properties |
|  | HK$ |
Cost |  |  |  |
January 1, 2023 |  |  | 184,630,718 |
Additions |  |  | 40,840,565 |
Modification |  |  | 3,010,450 |
Exchange adjustments |  |  | (87 | )
Transfer to assets classified as held for sale |  |  | (33,467,904 | )
December 31, 2023 |  |  | 195,013,742 |
Additions |  |  | 26,786,998 |
Modification |  |  | 16,222,827 |
Written-off |  |  | (15,023,753 | )
Exchange adjustments |  |  | (1,964 | )
December 31, 2024 |  |  | 222,997,850 |
Accumulated depreciation |  |  |  |
January 1, 2023 |  |  | 87,053,544 |
Charge for the year |  |  | 48,467,296 |
Exchange adjustments |  |  | 95 |
Transfer to assets classified as held for sale |  |  | (8,627,546 | )
December 31, 2023 |  |  | 126,893,389 |
Charge for the year |  |  | 44,562,079 |
Written-off |  |  | (15,023,753 | )
Exchange adjustments |  |  | (1,663 | )
December 31, 2024 |  |  | 156,430,052 |
Impairment |  |  |  |
January 1, 2023 and December 31, 2023 |  |  | - |
Provision |  |  | 5,013,080 |
December 31, 2024 |  |  | 5,013,080 |
Net carrying amount |  |  |  |
December 31, 2024 |  |  | 61,554,718 |
December 31, 2023 |  |  | 68,120,353 |
Net carrying amount (US$) |  |  |  |
December 31, 2024 |  |  | 7,924,446 |
During the year, an impairment loss of HK$5,013,080 was recognised. The Group has identified that its right-of-use assets constitutes a cash-generating unit that has been reporting persistent operating losses over 2 consecutive reporting periods. This sustained underperformance triggered a formal impairment assessment and a fully impairment loss has been made on the net carrying amount of assets. MasterBeef Group and its subsidiaries Notes to the Consolidated Financial Statements (Continued) December 31, 2024, 2023 and 2022
| 13. | Right-of-use assets (continued)
Schedule of detailed information about lease liabilities and short term leases
|  | 2024 |  |  | 2024 |  |  | 2023 |
|  | US$ |  |  | HK$ |  |  | HK$ |
Expense relating to short-term leases |  |  | 193,078 |  |  |  | 1,499,771 |  |  |  | 2,174,712 |
Variable lease payments not included in the measurement of lease liabilities |  |  | 34,992 |  |  |  | 271,808 |  |  |  | 591,527 |
Expense relating to leases of low-value assets, excluding short-term leases of low value assets |  |  | 939 |  |  |  | 7,295 |  |  |  | - |
Total cash outflow for leases # |  |  | 7,202,491 |  |  |  | 56,257,499 |  |  |  | 56,745,464 |
| # | Amount includes payments of principal and interest portion of lease liabilities and short-term leases.
For both years, the Group leases various offices and warehouses for its operations. Lease contracts are entered into for fixed term of 2 to 5 years. Lease terms are negotiated on an individual basis.

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- Definition The disclosure of quantitative information about right-of-use assets. [Refer: Right-of-use assets] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2024-01-01 -Paragraph 53 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2024-en-r&anchor=para_53&doctype=Standard -URIDate 2024-03-27 + Details
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