Company: CLIK
Filing Date: 2025-03-19
Form Type: F-1
Source: 0001213900-25-025112
Chunk: 184

Company: Click Holdings Ltd.
Filing Date: 2025-03-19
Form: F-1
Chunk 184
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 not yet paid, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate for the same term as the underlying lease. The right -of -useasset is recognized initially at cost, which primarily comprises the initial amount of the lease liability, plus any initial direct costs incurred, consisting mainly of brokerage commissions, less any lease incentives received. All right -of -useassets are reviewed for impairment. There was no impairment for right -of -uselease assets as of December 31, 2023. F-27

CLICK HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2023 AND 2022 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) H. Property and equipment, net Property and equipment primarily consists of leasehold improvement and furniture, fixtures and equipment, which is stated at cost less accumulated depreciation less any impairment losses. The cost of property and equipment comprises its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Depreciation is computed using the straight -linemethod based on the estimated useful life.

| Fixed Asset Category       |     | Useful lives                                       |
| Office equipment and other |     | 5 years                                            |
| Leasehold improvements     |     | Shorter of lease term or life of underlying assets |

Costs of repairs and maintenance are expensed as incurred and asset improvements are capitalized. The cost and related accumulated depreciation of assets disposed of or retired are removed from the accounts, and any resulting gain or loss is reflected in the consolidated statements of income. I. Impairment of long-lived assets The Company reviews long -livedassets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the assets exceeds the FV of the assets. No impairment of long -livedassets was recognized for the years ended December 31, 2023 and 2022. J. Revenue recognition The Company follows Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (ASC) Topic 606,