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Accounts Receivable, Net
12 Months Ended
Sep. 30, 2023
Accounts Receivable, Net [Abstract]  
ACCOUNTS RECEIVABLE, NET

3. ACCOUNTS RECEIVABLE, NET

 

Accounts receivable, net, consists of the following:

 

   (Predecessor)   (Successor) 
   As of September 30, 
   2022   2023 
   HK$   HK$   US$ 
Accounts receivable   317,862    461,017    58,872 
Less: allowance for doubtful accounts   (313,362)   (213,362)   (27,246)
Accounts receivable, net   4,500    247,655    31,626 

 

The following table presents movement in allowance for doubtful accounts:

 

   (Predecessor)   (Successor) 
   As of September 30, 
   2021   2022   2023 
   HK$   HK$   HK$ 
Balance at beginning of the year   —    —    313,362 
Additions   —    313,362    — 
Reversal   —    —    (100,000)
Balance at end of the year   —    313,362    213,362 

 

As of September 30, 2022, an allowance for doubtful accounts in the amount of HK$313,362 has been recorded due to a significant increase in credit risk from one specific customer, and such receivable is not expected to be settled and the bad debt allowance was provided accordingly.

 

Accounts receivable of HK$100,000 (approximately US$12,674) has been received in April 2023, and there were no issues regarding the recoverability of this amount.

 

Up to the date of this annual report, accounts receivable of HK$216,420 (approximately US$27,637) of the HK$247,655 in accounts receivable as of September 30, 2023 have been settled and there was no issue on recoverability.