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Related party transactions | 12 Months Ended
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Dec. 31, 2024
Notes and other explanatory information [abstract] |
Related party transactions |
| 34. | Related party transactions
In addition to the transactions detailed elsewhere in these consolidated financial statements, the Group had the following transactions with related parties during the year:- Schedule of transaction detailed in consolidated financial statements
|  | 2024 |  |  | 2024 |  |  | 2023 |  |  | 2022 |
|  | US$ |  |  | HK$ |  |  | HK$ |  |  | HK$ |
Sales of goods to related companies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- related companies (Note (a)) |  |  | 1,440,945 |  |  |  | 11,192,830 |  |  |  | - |  |  |  | 105,522 |
- a related company (Note (b)) |  |  | - |  |  |  | - |  |  |  | 22,298 |  |  |  | 187,430 |
- a related company (Note (c)) |  |  | - |  |  |  | - |  |  |  | 9,432 |  |  |  | 8,466 |
Rental income received from related companies (Note (a)) |  |  | 80,657 |  |  |  | 626,517 |  |  |  | - |  |  |  | - |
Rental expenses paid to related companies (Note (b)) |  |  | 478,288 |  |  |  | 3,715,200 |  |  |  | 4,188,400 |  |  |  | 4,110,000 |
Loan interest expenses paid to related companies (Note (b)) |  |  | 251,071 |  |  |  | 1,950,246 |  |  |  | 2,285,985 |  |  |  | 2,252,192 |
Storage expenses paid to related company (Note (b)) |  |  | 13,390 |  |  |  | 104,011 |  |  |  | 113,142 |  |  |  | 916,542 |
Management fee income from related companies (Note (a)) |  |  | 1,776,459 |  |  |  | 13,799,000 |  |  |  | - |  |  |  | 883,000 |
The above transactions were made at prices and terms in the normal course of business as agreed between the parties. Note:
| (a) | These are the related companies to the Group because some of the directors of the Group are part of the shareholders in these related companies.
| (b) | These are related companies to the Group because some of the directors of the Group, are the close family member of the shareholder in this related company.
| (c) | This is a related company to the Group because one of the directors of the Group, is a close family member of one of the shareholders in this related company.
Compensation of key management personnel and directors’ remuneration The directors are considered the only key management personnel of the Company. Compensation of key management personnel of the Group during the year was as follows: Schedule of compensation of key management
|  | 2024 |  |  | 2024 |  |  | 2023 |  |  | 2022 |
|  | US$ |  |  | HK$ |  |  | HK$ |  |  | HK$ |
Short-term employee benefits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- other emoluments |  |  | 580,462 |  |  |  | 4,508,852 |  |  |  | 7,680,000 |  |  |  | 4,661,333 |
Employer’s contribution to defined contribution plans |  |  | 9,848 |  |  |  | 76,500 |  |  |  | 108,000 |  |  |  | 108,000 |
Short-term employee benefits |  |  | 590,310 |  |  |  | 4,585,352 |  |  |  | 7,788,000 |  |  |  | 4,769,333 |
MasterBeef Group and its subsidiaries Notes to the Consolidated Financial Statements (Continued) December 31, 2024, 2023 and 2022
| 34. | Related party transactions (continued)
As at December 31, 2024, the parent and ultimate holding company of the Company was Galaxy Shine Company Limited, which was incorporated in the Cayman Islands. The shareholders of Galaxy Shine Company Limited are Chau Oi Wai, Chung Hee Shun, Chau Oi Yee, Leung Man Kit and Chan Yuk Ming and their respective shareholdings in Galaxy Shine Company Limited are approximately 27.27%, 24.83%, 27.27%, 13.64% and 6.99%, respectively.

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- Definition The entire disclosure for related parties. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 24 -IssueDate 2024-01-01 -Section Disclosures -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=24&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IAS24_g13-24_TI -URIDate 2024-03-27 + Details
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