Company: CLIK
Filing Date: 2025-03-27
Form Type: F-1/A
Source: 0001013762-25-003127
Chunk: 171

Company: Click Holdings Ltd.
Filing Date: 2025-03-27
Form: F-1/A
Chunk 171
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 for expected credit losses after all means of collection have been exhausted and that the likelihood of collection is not probable. G. Operating leases The Company adopted ASU 2016 -02, Leases (Topic 842) on January 1, 2022 using a modified retrospective approach reflecting the application of the standard to leases existing at, or entered after, the beginning of the earliest comparative period presented in the unaudited condensed CFS. The Company leases its offices, which leases are classified as operating leases in accordance with Topic 842. Operating leases are required to be recorded in the balance sheet as right -of -useassets and lease liabilities, initially measured at the present value of the lease payments. The Company elected the package of practical expedients, which allows the Company not to reassess (1) whether any expired or existing contracts as of the adoption date are or contain a lease, (2) lease classification for any expired or existing leases as of the adoption date, and (3) initial direct costs for any expired or existing leases as of the adoption date. The Company elected the short -termlease exemption as the lease terms are 12 months or less. At the commencement date, the Company recognizes the lease liability at the present value of the lease payments 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 June 30, 2024. F-9

CLICK HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 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.

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