Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

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ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
 12 Months Ended
Dec. 31, 2023
Notes and other explanatory information [abstract]  
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

NOTE 17 — ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

 

As of December 31, 2023 and 2022, accrued expenses and other current liabilities consist of:

 

    2023     2022  
    As of December 31,  
    2023     2022  
          As restated  
Accrued expenses   $ 723,633     $ 1,539,791  
Student refunds payable     690,154       571,543  
Sundry payables     629,004       1,007,222  
North West Parks Board     -       955,591  
VAT     288,432       184,977  
Other taxation payable     87,982       121,959  
Total   $ 2,419,205     $ 4,381,083  

 

The North West Parks Board accrual represents the amounts owed related to the Company’s Tau Game Lodge. The amount owed is related to turnover fees, concession fees and interest payable. The balance is nil for December 31, 2023 as a result of spin off.

 

Student refunds payable amounting to $571,543 is restatement in 2022. The amount has been reclassified from deferred revenue to accrued expenses and other current liabilities.