Company: CLIK
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001493152-25-019286
Chunk: 114

Company: Click Holdings Ltd.
Filing Date: 2025-10-24
Form: 20-F
Item: Item 19
Chunk 114
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ingent consideration asset, allowance for accounts receivable, useful life of property and equipment and intangible assets and impairment
of goodwill and intangible assets with indefinite lives. Actual amounts could differ from those estimates.

D. Functional currency

The
functional currency and presentation currency of the Company and its Hong Kong subsidiaries is the Hong Kong dollar (“ HKD”).
The determination of functional currency is based on the criteria of ASC as promulgated by Financial Accounting Standards Board (“ FASB”)
ASC 830, Foreign Currency Matters. The presentation currency of the Company is HKD as Hong Kong is the primary economic environment in
which the Company operates.

E. Convenience translation

Translations
of amounts in the CFS from HKD into US$ as of and for the year ended June 30, 2025 are solely for the convenience of the readers and
were calculated at US$1.00 = HKD 7.8 7.75 7.85

F. Fair value of financial instruments

The
accounting standards regarding fair value (“ FV”) of financial instruments and related FV measurements defines financial instruments
and requires disclosure of the FV of financial instruments held by the Company. The Company considers the carrying amount of current
assets and liabilities to approximate their FVs because of their short-term nature.

The
accounting standards define FV, establish a three-level valuation hierarchy for disclosures of FV measurements and enhance disclosure
requirements for FV measures. The three levels are defined as follow:

  Level      Inputs                                                                                                                          
  Level      Inputs                                                                                                                          
  Level      Inputs                                                                                                                          

Financial
instruments of the Company are primarily comprised of cash and cash equivalents, accounts receivable, other current assets, income
tax receivable, financial assets - contingent consideration asset, accounts payable, accrued expenses and other current
liabilities, advance from customers, bank loans and income tax payable. As of June 30, 2024 and 2025, except for financial assets
 - contingent consideration asset which is measured at fair value under Level 3, the carrying values of these financial
instruments approximated their FVs because of the short-term nature of these instruments.

CLICK
HOLDINGS LIMITED AND SUBSIDIARIES

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

G. Cash and cash equivalents

Cash
and cash equivalents primarily consist of cash on hand and bank deposits. The Company mainly