Berkshire Homes (BKSH) 10-Q 16 Oct 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Aug. 31, 2013	Oct. 14, 2013
Document And Entity Information
Entity Registrant Name	Berkshire Homes, Inc.
Entity Central Index Key	1505124
Document Type	10-Q
Document Period End Date	31-Aug-13
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		10,760,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2013

Balance_Sheets

Balance Sheets (USD $)	Aug. 31, 2013	Nov. 30, 2012
Current Assets
Cash and equivalents	$1,020,959
Inventory of property under development	1,023,980
Deferred financing costs	19,650
TOTAL ASSETS	2,064,589
Current Liabilities
Accounts payable and accrued interest	533,029	551,479
Accounts payable - related party	12,577	3,989
Due to related party	275	275
Promissory notes - current		400,000
Total Current Liabilities	545,881	955,743
Promissory notes – long term	2,650,000
Total liabilities	3,195,881	955,743
Stockholders Deficit
Common Stock, $.0001 par value, 500,000,000 shares authorized, 10,760,000 shares issued and outstanding	1,076	451
Additional paid-in capital	147,524	23,149
Deficit accumulated during the development stage	-1,279,892	-979,343
Total Stockholders Deficit	-1,131,292	-955,743
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$2,064,589

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Aug. 31, 2013	Nov. 30, 2012
Statement of Financial Position [Abstract]
Preferred stock, par value	$0.00	$0.00
Preferred stock, authorized shares	20,000,000	20,000,000
Preferred stock, shares issued and outstanding	0	0
Common stock, par value	$0.00	$0.00
Common stock, authorized shares	500,000,000	500,000,000
Common stock, shares issued and outstanding	10,760,000	10,760,000

Statements_of_Operations

Statements of Operations (USD $)	3 Months Ended		9 Months Ended		39 Months Ended
	Aug. 31, 2013	Aug. 31, 2012	Aug. 31, 2013	Aug. 31, 2012	Aug. 31, 2013
Income Statement [Abstract]
REVENUES					$22,000
EXPENSES
Consulting fees			1,000	84,419	554,922
General and administrative	33,039	22,409	55,335	77,177	184,845
Professional fees	3,700	9,600	47,076	45,213	133,932
Management fees and expenses	37,500	34,960	87,500	144,382	273,276
Bad debt expense					2,125
TOTAL EXPENSES	74,239	66,969	190,911	351,191	1,149,100
LOSS FROM OPERATIONS	-74,239	-66,969	-190,911	-351,191	-1,127,100
OTHER INCOME (EXPENSE)
Loss on extinguishment of liabilities	-35,715		-35,715		-35,715
Interest expense	-37,522	-16,000	-73,922	-27,155	-117,077
Total other expense	-73,237	-16,000	-109,637	-27,155	-152,792
PROVISION FOR INCOME TAXES	0	0	0	0	0
NET LOSS	($147,476)	($82,969)	($300,548)	($378,346)	($1,279,892)
NET LOSS PER SHARE: BASIC AND DILUTED	($0.02)	($0.02)	($0.05)	($0.08)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	6,593,333	4,510,000	5,551,667	4,510,000

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	9 Months Ended		39 Months Ended
	Aug. 31, 2013	Aug. 31, 2012	Aug. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period	($300,548)	($378,346)	($1,279,891)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss on extinguishment of liabilities	35,715		35,715
Changes in operating assets and liabilities:
Inventory of properties under development	-1,023,980		-1,023,980
Accounts payable and accrued interest	70,834	14,016	622,313
Accounts payable – related party	8,588	-10,349	12,577
Net Cash Used by Operating Activities	-1,209,391	-374,679	-1,633,266
CASH FLOWS FROM FINANCING ACTIVITIES
Loans from related parties			275
Deferred financing costs	-19,650		-19,650
Issuance of promissory notes	2,750,000	400,000	3,150,000
Payments made on long term debt	-500,000		-500,000
Sale of common stock			23,600
Net Cash Provided by Financing Activities	2,230,350	400,000	2,654,225
Net Increase (Decrease) in Cash	1,020,959	25,321	1,020,959
Cash, beginning of period			0
Cash, end of period	1,020,959	25,321	1,020,959
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid	0	0	0
Income taxes paid	0	0	0
Accrued interest converted to shares	$89,285	$0	$89,285

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Aug. 31, 2013
Accounting Policies [Abstract]
BASIS OF PRESENTATION	The accompanying unaudited interim financial statements of Berkshire Homes, Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company's most recent Annual Report on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year ended November 30, 2012 as reported in the Company’s most recent Annual Report on Form 10-K, have been omitted.

GOING_CONCERN

GOING CONCERN	9 Months Ended
	Aug. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	These financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred losses since inception resulting in an accumulated deficit of $1,279,981 as of August 31, 2013 and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management anticipates financing operating costs over the next twelve months with loans and/or private placement of common stock. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty.

PROPERTY_INVENTORY

PROPERTY INVENTORY	9 Months Ended
	Aug. 31, 2013
Notes to Financial Statements
PROPERTY INVENTORY	Inventories are stated at the lower of cost of market using the first-in, first-out (FIFO) cost method of accounting. During the current interim period, the Company paid $1,023,980 for properties purchased for resale.

RELATED_PARTY_TRANSATIONS

RELATED PARTY TRANSATIONS	9 Months Ended
	Aug. 31, 2013
Related Party Transactions [Abstract]
RELATED PARTY TRANSATIONS	During the three months and nine months ended August 31, 2013, the Company incurred management fees of $37,500 (2012- $ 34,960) and $ 87,500 ( 2012-$144,382) respectively to the sole director and officer of the Company..
	During the nine months ended August 31, 2013, the sole director and officer of the Company made payments of $12,577 on behalf of the Company which is outstanding and recorded as accounts payable to related party at August 31, 2013.
	A former director of the Company loaned $275 to the Company on June 2, 2010. The amount was outstanding at August 31, 2013.
	The amounts due to related parties are due on demand, non-interest bearing and unsecured.

PROMISSORY_NOTES

PROMISSORY NOTES	9 Months Ended
	Aug. 31, 2013
Debt Disclosure [Abstract]
PROMISSORY NOTES	During the year ended November 30, 2012, the Company issued three promissory notes for total proceeds of $400,000 at an interest rate of 16% per annum. On February 4, 2013, the Company sold a promissory note for gross proceeds of $100,000 at an interest rate of 16% per annum. All four promissory notes are unsecured and payable on demand. The promissory notes payable were repaid in full on June 27, 2013. Accrued interest outstanding of $ 89,285 was converted into 6,250,000 common shares on July 9,2013.
	On June 13, 2013, the Company issued a promissory note for proceeds of $ 2,150,000 at an interest rate of 5% per annum. The promissory note is unsecured and is due on June 13, 2015. Financing costs incurred in relation to the issuance of the note payable have been deferred and will be amortized over the length of the note.
	On June 27, 2013, the Company issued a promissory note for proceeds of $ 500,000 at an interest rate of 5% per annum. The promissory note is unsecured and is due on June 27, 2015.
	During the nine months ended August 31, 2013, the Company recorded interest expense of $73,922 on the four promissory notes.

COMMON_STOCK

COMMON STOCK	9 Months Ended
	Aug. 31, 2013
Equity [Abstract]
COMMON STOCK	From inception through November 30, 2012, the Company issued an aggregate of 4,510,000 common shares for cash proceeds of $23,600.
	On January 11, 2013, the Company amended and restated its Articles of Incorporation and increased the Company’s authorized capital stock from 75,000,000 shares of Common Stock, par value $0.001 per share, and no Preferred Stock to 500,000,000 shares of Common Stock, par value $0.0001 per share, and 20,000,000 shares of “blank-check” Preferred Stock, par value $0.0001 per share.
	The financial statements herein have been retroactively restated to reflect the amended par value of Common Stock.
	On July 19,2013, the Company issued 6,250,000 shares of common stock, valued at $125,000, for accrued interest of $ 89,285. As a result, a loss on the extinguishment of $35,715 was recognized.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Aug. 31, 2013
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	In accordance with ASC 855-10, the Company has analyzed its operations subsequent to October 8, 2013 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements, except as noted below.

BASIS_OF_PRESENTATION_Details_

BASIS OF PRESENTATION (Details Narrative)	9 Months Ended
	Aug. 31, 2013
Accounting Policies [Abstract]
Current Fiscal Year End	-19

GOING_CONCERN_Details_Narrativ

GOING CONCERN (Details Narrative) (USD $)	9 Months Ended		39 Months Ended
	Aug. 31, 2013	Aug. 31, 2012	Aug. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	($300,548)	($378,346)	($1,279,891)

PROPERTY_INVENTORY_Details_Nar

PROPERTY INVENTORY (Details Narrative) (USD $)	Aug. 31, 2013
Notes to Financial Statements
Inventory of property under development	$1,023,980

RELATED_PARTY_TRANSATIONS_Deta

RELATED PARTY TRANSATIONS (Details Narrative) (USD $)	3 Months Ended		9 Months Ended		39 Months Ended
	Aug. 31, 2013	Aug. 31, 2012	Aug. 31, 2013	Aug. 31, 2012	Aug. 31, 2013	Jun. 27, 2013	Jun. 13, 2013	Nov. 30, 2012	Jun. 03, 2010
Related Party Transactions [Abstract]
Management fees	$37,500	$34,960	$87,500	$144,382	$273,276
Accounts payable related party	12,577		12,577		12,577			3,989
Loan amount former director						$500,000	$2,150,000		$275

PROMISSORY_NOTES_Details_Narra

PROMISSORY NOTES (Details Narrative) (USD $)	3 Months Ended		9 Months Ended		39 Months Ended
	Aug. 31, 2013	Aug. 31, 2012	Aug. 31, 2013	Aug. 31, 2012	Aug. 31, 2013	Jul. 09, 2013	Jun. 27, 2013	Jun. 13, 2013	Jun. 03, 2010	Feb. 04, 2013	Nov. 30, 2012
										Promissory Note Payable	Promissory Note Payable
Promissory notes amount							$500,000	$2,150,000	$275	$100,000	$400,000
Promissory note interest rate							5.00%	5.00%		16.00%	16.00%
Promissory note due							27-Jun-15	13-Jun-15		27-Jun-13	27-Jun-13
Interest expense	-37,522	-16,000	-73,922	-27,155	-117,077
Accrued interest converted to shares			$89,285	$0	$89,285
Issuance of common stock, shares						6,250,000

COMMON_STOCK_Details_Narrative

COMMON STOCK (Details Narrative) (USD $)	9 Months Ended		39 Months Ended
	Aug. 31, 2013	Aug. 31, 2012	Aug. 31, 2013	Jul. 09, 2013	Jan. 11, 2013	Nov. 30, 2012
Equity [Abstract]
Issuance of common shares			4,510,000
Cash proceeds from common shares issuance			$23,600
Common stock shares authorized	500,000,000		500,000,000		500,000,000	500,000,000
Common stock par value	$0.00		$0.00		$0.00	$0.00
Preferred stock shares authorized	20,000,000		20,000,000		20,000,000	20,000,000
Preferred stock par value	$0.00		$0.00		$0.00	$0.00
Issuance of common stock, shares				6,250,000
Issuance of common stock, value				125,000
Accrued interest converted to shares	89,285	0	89,285
Loss on extinguishment of liabilities	$35,715		$35,715