Company: CLIK
Filing Date: 2025-03-19
Form Type: F-1
Source: 0001213900-25-025112
Chunk: 185

Company: Click Holdings Ltd.
Filing Date: 2025-03-19
Form: F-1
Chunk 185
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 Revenue from Contracts with Customers (“ASC 606”). ASC 606 establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. In accordance with ASC 606, revenues are recognized when control of the promised services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services. Step 1:Identify the contract with the customer; Step 2:Identify the performance obligations in the contract; Step 3:Determine the transaction price; Step 4:Allocate the transaction price to the performance obligations in the contract; and Step 5:Recognize revenue when the Company satisfies a performance obligation.

F-28 CLICK HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2023 AND 2022 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) The Company operates as a human resources solutions provider, specializing in offering comprehensive human resources solutions to its customers in three reportable segments. 1.Professional solution services — delivery of accounting and auditing, company secretarial, and financial and compliance advisory services; 2.Nursing solution services — delivery of temporary healthcare services to institutional clients, including social service organizations and nursing home and individuals; and 3.Logistics and other solution services — delivery of logistics and warehouse human resources solutions services to corporate customers. The professional solution services arrangements are provided primarily at a fixed fee. The nursing solution and logistics and other solution services arrangements are primarily provided on an hourly basis, and the Company generally invoices its customers monthly or bimonthly in arrears for these services based on actual hours and expenses incurred. Revenues are recognized when services are delivered. Typical payment terms require the customers to pay within 30 days from the invoice date. The Company generally recognizes human resources solutions service income on a gross basis as the Company has control of the services before they are delivered to the Company’s customers. In drawing this conclusion, the Company considers various factors, including latitude in establishing the sales price, discretion in the vendor selection and that the Company is the primary obligor in the Company’s service arrangements