Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended |
Apr. 30, 2014 | |
Document and Entity Information: | ' |
Entity Registrant Name | 'Line Up Advertisement, Inc. |
Document Type | '10-K |
Document Period End Date | 30-Apr-14 |
Amendment Flag | 'false |
Entity Central Index Key | '0001552358 |
Current Fiscal Year End Date | '--04-30 |
Entity Common Stock, Shares Outstanding | 7,760,000 |
Entity Public Float | $7,760 |
Entity Filer Category | 'Smaller Reporting Company |
Entity Current Reporting Status | 'Yes |
Entity Voluntary Filers | 'No |
Entity Well-known Seasoned Issuer | 'No |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'FY |
BALANCE_SHEETS
BALANCE SHEETS (USD $) | Apr. 30, 2014 | Apr. 30, 2013 |
BALANCE SHEETS | ' | ' |
Cash | $0 | $395 |
TOTAL CURRENT ASSETS | 0 | 395 |
Accounts payable and accrued liabilities | 8,944 | 9,599 |
Due to Related Party | 28,085 | 1,163 |
TOTAL CURRENT LIABILITIES | 37,029 | 10,762 |
Common Stock, authorized 75,000,000 shares of common stock, $0.001 par value, Issued and outstanding 7,760,000 shares of common stock at April 30, 2013 and 7,500,000 at April 30, 2012 | 760 | 7,760 |
Additional paid in Capital | 26,655 | 4,940 |
Deficit accumulated during the development stage | -64,444 | -23,067 |
TOTAL STOCKHOLDERS' EQUITY/(DEFICIT) | -37,029 | -10,367 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT) | $0 | $395 |
STATEMENTS_OF_OPERATIONS
STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | 25 Months Ended | |
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2014 | |
STATEMENTS OF OPERATIONS | ' | ' | ' |
Revenues | ' | ' | ' |
Office and general | 17,495 | 6,692 | 25,312 |
Professional Fees | 23,882 | 9,000 | 39,132 |
Total Expenses | 41,377 | 15,692 | 64,444 |
NET LOSS | ($41,377) | ($15,692) | ($64,444) |
BASIC NET LOSS PER COMMON SHARE | ($0.01) | $0 | $0 |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING | 5,094,247 | 7,648,164 | ' |
STATEMENTS_OF_STOCKHOLDERS_EQU
STATEMENTS OF STOCKHOLDER'S EQUITY (DEFICIT) (USD $) | Common Stock | Additional Paid in Capital | Share Subscriptions Receivable | Deficit Accumulated During the Development Stage | Total |
Balance, Value at Apr. 17, 2012 | $0 | $0 | $0 | $0 | $0 |
Balance, Shares at Apr. 17, 2012 | 0 | ' | ' | ' | ' |
Founder's shares issued for cash at $0.001, Value | 7,500 | ' | ' | ' | 7,500 |
Founder's shares issued for cash at $0.001, Shares | 7,500,000 | ' | ' | ' | ' |
Net Loss | ' | ' | ' | -7,375 | -7,375 |
Balance, Value at Apr. 30, 2012 | 7,500 | ' | ' | -7,375 | 125 |
Balance, Shares at Apr. 30, 2012 | 7,500,000 | ' | ' | ' | ' |
Balance, Value at Apr. 30, 2012 | ' | ' | ' | ' | ' |
Common shares issued at $0.02, Value | 260 | 4,940 | ' | ' | 5,200 |
Common shares issued at $0.02, Shares | 260,000 | ' | ' | ' | ' |
Net Loss | ' | ' | ' | -15,692 | -15,692 |
Balance, Value at Apr. 30, 2013 | 7,760 | 4,940 | ' | -23,067 | -10,367 |
Balance, Shares at Apr. 30, 2013 | 7,760,000 | ' | ' | ' | ' |
Balance, Value at Apr. 30, 2013 | ' | ' | ' | ' | ' |
Net Loss | ' | ' | ' | -41,377 | -41,377 |
Forgiveness of Debt by former director | ' | 14,715 | ' | ' | 14,715 |
Common stock retired on December 13, 2014 | -7,000 | 7,000 | ' | ' | ' |
Balance, Value at Apr. 30, 2014 | $760 | $26,655 | ' | ($64,444) | ($37,029) |
Balance, Shares at Apr. 30, 2014 | 760,000 | ' | ' | ' | ' |
STATEMENTS_OF_CASH_FLOWS
STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | 25 Months Ended | |
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2014 | |
STATEMENTS OF CASH FLOWS | ' | ' | ' |
NET LOSS | ($41,377) | ($15,692) | ($64,444) |
Expenses paid on company's behalf by related party | 41,377 | 537 | 42,799 |
Increase (decrease) in accrued expenses | -655 | 3,350 | 8,944 |
NET CASH USED IN OPERATING ACTIVITIES | -395 | -11,805 | -12,700 |
Proceeds from sale of common stock | 0 | 5,200 | 12,700 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 0 | 5,200 | 12,700 |
NET INCREASE ( DECREASE) IN CASH | -395 | -6,605 | ' |
CASH, BEGINNING OF PERIOD | 395 | 7,000 | ' |
CASH, END OF PERIOD | 0 | 395 | ' |
Interest | ' | ' | ' |
Income taxes | ' | ' | ' |
Note_1_Nature_of_Operations_an
Note 1 - Nature of Operations and Basis of Presentation | 12 Months Ended |
Apr. 30, 2014 | |
Notes | ' |
Note 1 - Nature of Operations and Basis of Presentation | ' |
NOTE 1 – NATURE OF OPERATIONS AND BASIS OF PRESENTATION | |
The Company was incorporated in the State of Nevada as a for-profit Company on April 17, 2012 and established a fiscal year end of April 30. It is a development-stage Company, as defined under FASB ASC 915-10, "Development Stage Entities", which intends to provide televisions that will stream advertisements for patrons outside the nightclub line ups. | |
The Company presently has no products. All activities of the Company relate to its organization, initial funding, and share issuances. |
Note_2_Summary_of_Significant_
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Apr. 30, 2014 | |
Notes | ' |
Note 2 - Summary of Significant Accounting Policies | ' |
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation | |
In the opinion of management, the accompanying balance sheets, statements of operations, stockholders' equity (deficit) and cash flows include all adjustments, consisting only of normal recurring items, for their fair presentation in conformity with accounting principles generally accepted in the United States. These financial statements are presented in United States dollars. | |
Advertising | |
Advertising costs are expensed as incurred. As of April 30, 2014 and 2013, no advertising costs have been incurred. | |
Property | |
The Company does not own or rent any property. The office space is provided by the president at no charge. | |
Revenue and Cost Recognition | |
The Company has no current source of revenue; therefore the Company has not yet adopted any policy regarding the recognition of revenue or cost. | |
Cash and Cash Equivalents | |
The Company considers all highly liquid investments with maturity of three months or less to be cash equivalents. | |
Use of Estimates and Assumptions | |
Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. | |
Income Taxes | |
The Company follows the liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. | |
Net Loss per Share | |
Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive loss per share reflects the potential dilution of securities that could share in the losses of the Company. Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share. | |
Recent Accounting Pronouncements | |
The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the company’s financial statement. | |
Note_3_Going_Concern
Note 3 - Going Concern | 12 Months Ended |
Apr. 30, 2014 | |
Notes | ' |
Note 3 - Going Concern | ' |
NOTE 3 – GOING CONCERN | |
The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company has a working capital deficit of $28,085, an accumulated deficit of $64,444 and net loss from operations since inception of $64,444. The Company does not have a source of revenue sufficient to cover its operation costs giving substantial doubt for it to continue as a going concern. The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The Company funded its initial operations by way of issuing Founder’s shares. | |
The officers and directors have committed to advancing certain operating costs of the Company, including Legal, Audit, Transfer Agency and Edgarizing costs |
Note_4_Fair_Value_of_Financial
Note 4 - Fair Value of Financial Instruments | 12 Months Ended |
Apr. 30, 2014 | |
Notes | ' |
Note 4 - Fair Value of Financial Instruments | ' |
NOTE 4 - FAIR VALUE OF FINANCIAL INSTRUMENTS | |
The Company has determined the estimated fair value of financial instruments using available market information and appropriate valuation methodologies. The fair value of financial instruments classified as current assets or liabilities approximate their carrying value due to the short-term maturity of the instruments. |
Note_5_Capital_Stock
Note 5 - Capital Stock | 12 Months Ended |
Apr. 30, 2014 | |
Notes | ' |
Note 5 - Capital Stock | ' |
NOTE 5 – CAPITAL STOCK | |
The Company’s capitalization is 75,000,000 common shares with a par value of $0.001 per share. No preferred shares have been authorized or issued. | |
As of April 30, 2014, the Company has not granted any stock options and has not recorded any stock-based compensation. | |
On April 25, 2012 the Company issued 7,500,000 Founder's shares for cash at $0.001 per share. In September 2012 the Company issued 260,000 common shares for cash at $0.02 per share. | |
On December 13, 2014, 7,000,000 common shares were retired. | |
On April 30, 2014 and on April 30, 2013, the Company had 760,000 and 7,760,000 common shares issued and outstanding respectively. |
Note_6_Related_Party_Transacti
Note 6 - Related Party Transactions | 12 Months Ended |
Apr. 30, 2014 | |
Notes | ' |
Note 6 - Related Party Transactions | ' |
NOTE 6 – RELATED PARTY TRANSACTIONS | |
As of April 30, 2014 and 2013, the Company has received $28,085 and $1,163, respectively, in loans and payment of expenses from a related party. The loans are payable on demand and without interest. |
Note_7_Income_Taxes
Note 7 - Income Taxes | 12 Months Ended | ||
Apr. 30, 2014 | |||
Notes | ' | ||
Note 7 - Income Taxes | ' | ||
NOTE 7 – INCOME TAXES | |||
We did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. Accounting for Uncertainty in Income Taxes when it is more likely than not that a tax asset cannot be realized through future income the Company must allow for this future tax benefit. We provided a full valuation allowance on the net deferred tax asset, consisting of net operating loss carry forwards, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carry forward period. | |||
The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of April 30, 2014 and 2013 are as follows: | |||
April 30, 2014 | 30-Apr-13 | ||
Net operating loss carry forward | 64,444 | 23,067 | |
Effective Tax rate | 35% | 35% | |
Deferred Tax Assets | 22,555 | 8,073 | |
Less: Valuation Allowance | -22,555 | -8,073 | |
Net deferred tax asset | $0 | $0 | |
The net federal operating loss carry forward will expire between 2032 and 2033. This carry forward may be limited upon the consummation of a business combination under IRC Section 381. |
Note_8_Subsequent_Events
Note 8 - Subsequent Events | 12 Months Ended |
Apr. 30, 2014 | |
Notes | ' |
Note 8 - Subsequent Events | ' |
NOTE 8 - SUBSEQUENT EVENTS | |
The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and has determined that there are no events to disclose. |
Note_2_Summary_of_Significant_1
Note 2 - Summary of Significant Accounting Policies: Basis of Presentation (Policies) | 12 Months Ended |
Apr. 30, 2014 | |
Policies | ' |
Basis of Presentation | ' |
Basis of Presentation | |
In the opinion of management, the accompanying balance sheets, statements of operations, stockholders' equity (deficit) and cash flows include all adjustments, consisting only of normal recurring items, for their fair presentation in conformity with accounting principles generally accepted in the United States. These financial statements are presented in United States dollars. |
Note_2_Summary_of_Significant_2
Note 2 - Summary of Significant Accounting Policies: Advertising (Policies) | 12 Months Ended |
Apr. 30, 2014 | |
Policies | ' |
Advertising | ' |
Advertising | |
Advertising costs are expensed as incurred. As of April 30, 2014 and 2013, no advertising costs have been incurred. |
Note_2_Summary_of_Significant_3
Note 2 - Summary of Significant Accounting Policies: Property (Policies) | 12 Months Ended |
Apr. 30, 2014 | |
Policies | ' |
Property | ' |
Property | |
The Company does not own or rent any property. The office space is provided by the president at no charge. |
Note_2_Summary_of_Significant_4
Note 2 - Summary of Significant Accounting Policies: Revenue and Cost Recognition (Policies) | 12 Months Ended |
Apr. 30, 2014 | |
Policies | ' |
Revenue and Cost Recognition | ' |
Revenue and Cost Recognition | |
The Company has no current source of revenue; therefore the Company has not yet adopted any policy regarding the recognition of revenue or cost. |
Note_2_Summary_of_Significant_5
Note 2 - Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies) | 12 Months Ended |
Apr. 30, 2014 | |
Policies | ' |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
The Company considers all highly liquid investments with maturity of three months or less to be cash equivalents. |
Note_2_Summary_of_Significant_6
Note 2 - Summary of Significant Accounting Policies: Use of Estimates and Assumptions (Policies) | 12 Months Ended |
Apr. 30, 2014 | |
Policies | ' |
Use of Estimates and Assumptions | ' |
Use of Estimates and Assumptions | |
Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. |
Note_2_Summary_of_Significant_7
Note 2 - Summary of Significant Accounting Policies: Income Taxes (Policies) | 12 Months Ended |
Apr. 30, 2014 | |
Policies | ' |
Income Taxes | ' |
Income Taxes | |
The Company follows the liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. |
Note_2_Summary_of_Significant_8
Note 2 - Summary of Significant Accounting Policies: Net Loss Per Share (Policies) | 12 Months Ended |
Apr. 30, 2014 | |
Policies | ' |
Net Loss Per Share | ' |
Net Loss per Share | |
Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive loss per share reflects the potential dilution of securities that could share in the losses of the Company. Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share. |
Note_2_Summary_of_Significant_9
Note 2 - Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies) | 12 Months Ended |
Apr. 30, 2014 | |
Policies | ' |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the company’s financial statement. |
Note_3_Going_Concern_Details
Note 3 - Going Concern (Details) (USD $) | Apr. 30, 2014 |
Details | ' |
Working capital deficit | $28,085 |
Accumulated deficit | 64,444 |
Net loss from operations | $64,444 |
Note_5_Capital_Stock_Details
Note 5 - Capital Stock (Details) | Apr. 30, 2014 |
Details | ' |
Common shares | 75,000,000 |
Founder's shares | 7,500,000 |
Company issued | 260,000 |
Common shares were retired | 7,000,000 |
Common shares issued | 760,000 |
Outstanding | 7,760,000 |
Note_6_Related_Party_Transacti1
Note 6 - Related Party Transactions (Details) (USD $) | Apr. 30, 2014 |
Details | ' |
Loans | $28,085 |
Payment of expenses | $1,163 |