| Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
| Dec. 31, 2016 |
| Summary Of Significant Accounting Policies Policies | |
| Fiscal Year | The Companys fiscal year
ends December 31. |
| Cash and Cash equivalents | We
classify all highly liquid investments with stated maturities of three months or less from date of purchase as cash equivalents
and all highly liquid investments with stated maturities of greater than three months as marketable securities. |
| Use of Estimates | The preparation of financial statements
in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities
and disclosure of contingent assets and liabilities at the date of the balance sheets and the reported amounts of revenues and
expenses during the reporting period. Actual results could differ materially from those estimates. There were no significant estimates
at December 31, 2016 and December 31, 2015 |
| Fair Value of Financial Instruments | The
book values of cash, prepaid expenses, and accounts payable approximate their respective fair values due to the short-term nature
of these instruments. The fair value hierarchy under GAAP distinguishes between assumptions based on market data (observable inputs)
and an entitys own assumptions (unobservable inputs). The
hierarchy consists of three levels:
· Level
one Quoted market prices in active markets for identical assets or liabilities;
· Level
two Inputs other than level one inputs that are either directly or indirectly observable; and
· Level
three Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and
reflect those assumptions that a market participant would use. Determining
which category an asset or liability falls within the hierarchy requires significant judgment. We evaluate our hierarchy disclosures
each quarter. |
| Segments and Related Information | The
Company operates primarily in one principal business segment, infant and toddler products. |
| Amortization of Website | The
accompanying balance sheet reflects our websites at cost less accumulated amortization. The estimated useful life is 5 years and
these websites were developed in 2005 and amortized using the straight line method over its useful life. Our website is www.polkadotpatch.com.
The cost and accumulated amortization of the websites for the years ended December 31, 2016 and December 31, 2015 were both $5,435
as these websites were fully amortized at December 31, 2016 and December 31, 2015. |
| Revenue Recognition | Sales
to consumers are recorded when the price is fixed or determinable and goods are shipped to the customers. Sales are reported net
of allowances for estimated returns and allowances in the accompanying statements of income. Allowances for returns are estimated
based on historical customer return rates. Customers pre-pay for orders through our website with their credit cards prior to the
shipment of the goods, which takes place within a few days after the order is placed. The Company does not carry inventory and
all orders are drop-shipped by our vendors and shipped directly by them to our customers. The
Company evaluates the criteria outlined in FASB ASC Subtopic 605-45, Revenue RecognitionPrincipal Agent Considerations |
| Allowances Against Accounts Receivable | The
Company did not have any accounts receivable at December 31, 2016 and 2015. The Company will record allowances against accounts
receivable based upon contractually agreed-upon deductions for items such as customer returns. These deductions are recorded throughout
the year commensurate with sales activity and historical product returns. All such allowances are recorded as direct offsets to
sales. The Company gives all its customers a 14 day product return policy on all sales; the allowances are reduced to reflect
such payments or credits issued against the customers account balance. After 14 days there are no returns but the Company
may issue an optional store credit to the customer for up to 25% of the sale amount. There are no returns for sales of products
that are personalized for its customers. The Company analyzes the components of the allowances for customer deductions monthly
and adjusts the allowances to the appropriate levels. There was no sales returns allowance recorded at December 31, 2016 and December
31, 2015. The historical sales return rate for the Company in relation to its total sales have not been significant. |
| Income Taxes | Income
taxes are accounted for under the asset and liability method in accordance with United States generally accepted accounting principles.
Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial
carrying amounts of existing assets and liabilities and their respective tax bases as well as operating loss and tax credit carry
forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the
years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities
of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced
by a valuation allowance to the extent that the recoverability of the asset is unlikely to be recognized. We did not provide any
current or deferred income tax provision or benefit for any periods presented to date because we have continued to experience
a net operating loss since inception and therefore provide a 100% valuation allowance against all of our deferred tax assets. The
Company adopted the FASB ASC accounting guidance for recognizing and measuring uncertain tax positions, as defined in the FASB
ASC Topic Income Taxes. This guidance prescribes a threshold condition that a tax position must meet for any of
the benefits of the uncertain tax position to be recognized in the financial statements. This guidance also provides accounting
guidance on derecognizing, classification and disclosure of these uncertain tax positions. The Company recognizes interest accrued
related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Company has not recognized any
interest and penalties in 2016 or 2015. The
company has no deferred tax assets or deferred tax liabilities. They have a net operating loss carry-forward for federal and state
tax purposes of approximately $11,000 at December 31, 2016, that is available to offset future taxable income, which will begin
to expire in the year 2028. The Company took a 100% valuation allowance against the net operating loss deferred tax asset. |
| Earnings Per Share | Basic
and diluted earnings per share are computed based on the weighted-average common shares and common share equivalents outstanding
during the period. The merger with Maple Tree Kids LLC took place on September 27, 2013 and prior periods have been restated to
reflect the change in the capitalization of the Company at the merger date. |
| Advertising Costs | Advertising
costs are expensed as incurred. Advertising costs for the years ended December 31, 2016 and 2015 were $- and $- respectively These
expenses are recorded under general and administrative expenses. |
| Shipping and Handling Fees Charged to Customers and Reported as Revenue | Shipping and handling fees billed
to customers are classified on the Statements of Income under the caption selling, general and administrative expenses. |
| Gift Cards | The
Company will collect the proceeds from gift cards issued and record a liability for the full amount sold. This liability will
be reduced when the Company honors redemptions of the gift cards as a form of tender. As a result, the Company will maintain a
liability equivalent to 100% of the proceeds from unredeemed gift cards, less estimated unredeemed gift cards. For the years ended
December 31, 2016 and 2015 there were no significant gift cards sales, therefore the unredeemed gift certificates
liability was $0 at December 31, 2016 and December 31, 2015. In
recognizing the unredeemed gift card income above, the Company considered the guidance under ASC 405-20-40, Liabilities-Extinguishments
of Liabilities-Derecognition paragraph 40-1 that states A debtor shall derecognize a liability if and only if it has been
extinguished. A liability under this standard has been extinguished if either of the following conditions is met: (a) the debtor
pays the creditor and is relieved of its obligation for the liability or (b) the debtor is legally released from being the primary
obligor under the liability either judicially or by the creditor. The recognition of unredeemed gift card income is not
expected to be material in future reporting periods. If we have future sales of gift cards, we will review historical gift card
redemption information at each reporting period to assess the continued appropriateness of the gift card breakage rates and pattern
of redemption. |
| Contingencies | Certain
conditions may exist which may result in a loss to the Company, but which will only be resolved when one or more future events
occur or fail to occur. The Companys management and its legal counsel assess such contingent liabilities, and such assessment
inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against
the Company, or unasserted claims that may result in such proceedings, the Companys legal counsel evaluates the perceived
merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected
to be sought therein. If
the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability
can be estimated, the estimated liability would be accrued in the Companys financial statements. If the assessment indicates
that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated,
the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material,
would be disclosed. Loss
contingencies considered remote are generally not disclosed unless they arise from guarantees, in which case the guarantees would
be disclosed. |
| Recently-Issued Accounting Standards | Recently-Issued
Accounting Standards: Management does not believe that any recently issued, but not yet effective, accounting standards if currently
adopted would have a material effect on the accompanying financial statements. |
| Going Concern | ASU
2014-15 Presentation of Financial StatementsGoing ConcernDisclosure of Uncertainties about an Entitys
Ability to Continue as a Going Concern (ASU 2014-15). In August 2014, the FASB issued ASU 2014-15 requiring
management to assess an entitys ability to continue as a going concern, and to provide related footnote disclosures in
certain circumstances. ASU 2014-15 is effective for annual periods, and interim periods within those annual periods, starting
December 15, 2016. Management adopted this guidance for the year ended December 31, 2016. |
| Financial Instruments | In
January 2016, the FASB issued ASU No. 2016-01, Financial Instruments Overall (Subtopic 825-10): Recognition and Measurement
of Financial Assets and Financial Liabilities (ASU 2016-01), which updates certain aspects of recognition, measurement,
presentation and disclosure of financial instruments. ASU 2016-01 will be effective for the Company beginning in its first quarter
of 2019. The Company does not believe the adoption of ASU 2016-01 will have a material impact on its consolidated financial statements. In
June 2016, the FASB issued ASU No. 2016-13, Financial Instruments Credit Losses (Topic 326): Measurement of Credit Losses
on Financial Instruments (ASU 2016-13), which modifies the measurement of expected credit losses of certain financial
instruments. ASU 2016-13 will be effective for the Company beginning in its first quarter of 2021 and early adoption is permitted.
The Company does not believe the adoption of ASU 2016-13 will have a material impact on its consolidated financial statements. |
| Leases | In
February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (ASU 2016-02), which modified lease accounting
for both lessees and lessors to increase transparency and comparability by recognizing lease assets and lease liabilities by lessees
for those leases classified as operating leases under previous accounting standards and disclosing key information about leasing
arrangements. ASU 2016-02 will be effective for the Company beginning in its first quarter of 2020, and early adoption is permitted.
The Company is currently evaluating the timing of its adoption and the impact of adopting ASU 2016-02 on its consolidated financial
statements. |
| Stock Compensation | In
March 2016, the FASB issued ASU No. 2016-09, Compensation Stock Compensation (Topic 718): Improvements to Employee Share-Based
Payment Accounting (ASU 2016-09), which simplified certain aspects of the accounting for share-based payment transactions,
including income taxes, classification of awards and classification on the statement of cash flows. ASU 2016-09 will be effective
for the Company beginning in its first quarter of 2018. The Company is currently evaluating the impact of adopting ASU 2016-09
on its consolidated financial statements. |
| Income Taxes | In
October 2016, FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfer of Assets Other than Inventory (ASU
2016-16), which requires the recognition of the income tax consequences of an intra-entity transfer of an asset, other
than inventory, when the transfer occurs. ASU 2016-06 will be effective for the Company in its first quarter of 2019. The Company
is currently evaluating the impact of adopting ASU 2016-16 on its consolidated financial statements. |
| Revenue Recognition | In
May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (ASU 2014-09), which
amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition
of revenue at an amount an entity expects to be entitled when products are transferred to customers. ASU 2014-09 will be effective
for the Company beginning in its first quarter of 2019, and early adoption is permitted. Subsequently,
the FASB has issued the following standards related to ASU 2014-09: ASU No. 2016-08, Revenue from Contracts with Customers (Topic
606): Principal versus Agent Considerations (ASU 2016-08); ASU No. 2016-10, Revenue from Contracts with Customers
(Topic 606): Identifying Performance Obligations and Licensing (ASU 2016-10); and ASU No. 2016-12, Revenue from
Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients (ASU 2016-12). The Company
must adopt ASU 2016-08, ASU 2016-10 and ASU 2016-12 with ASU 2014-09 (collectively, the new revenue standards). The
new revenue standards may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect
recognized as of the date of adoption. The Company currently expects to adopt the new revenue standards in its first quarter of
2018 utilizing the full retrospective transition method. The Company does not expect adoption of the new revenue standards to
have a material impact on its consolidated financial statements. |
