Company: CLIK
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001493152-25-019286
Chunk: 122

Company: Click Holdings Ltd.
Filing Date: 2025-10-24
Form: 20-F
Item: Item 19
Chunk 122
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 of business, the Company is subject to loss contingencies, such as legal proceedings and claims arising out of its
business, that cover a wide range of matters, including, among others, government investigations and tax matters. In accordance with
ASC 450-20, “ Loss Contingencies”, the Company records accruals for such loss contingencies when it is probable that a liability
has been incurred and the amount of loss can be reasonably estimated.

Y. Recently issued accounting pronouncements

In
December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures requiring enhancements and
further transparency to certain income tax disclosures, most notably the tax rate reconciliation and income taxes paid. This ASU is effective
for fiscal years beginning after December 15, 2024 on a prospective basis and retroactive application is permitted.

In
November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income (Topic 220-40): Expense Disaggregation
Disclosures. This update requires, among other things, more detailed disclosure about types of expenses in commonly presented expense
captions such as cost of sales and selling, general, and administrative expenses, and is intended to improve the disclosures about an
entity’s expenses including purchases of inventory, employee compensation, depreciation and amortization. This ASU is effective
for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027.

The
Company is reviewing the impact of these accounting pronouncements but does not currently expect the adoption of these standards to have
a material impact on its CFS.

CLICK
HOLDINGS LIMITED AND SUBSIDIARIES

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

3. BUSINESS COMBINATION

In
April 2025, the Company acquired 100 80 100 78,923,708 10,118,424 a contingent consideration asset of HK$1,680,000(US$215,385)
was recognized at fair value, representing a profit guarantee from the seller if Care U’s net income for year ending June 30,
2026 and 2027 falls below an agreed target.

Below
are the assets acquired and liabilities recognized at the date of acquisition:

SCHEDULE
OF BUSINESS COMBINATION ASSETS ACQUIRED AND LIABILITIES RECOGNIZED