Gushen (GSHN) 10-Q 10 Sep 15 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - Jul. 31, 2015 - shares	Total
Document and Entity Information [Abstract]
Entity Registrant Name	Gushen, Inc
Entity Central Index Key	1,639,327
Amendment Flag	false
Current Fiscal Year End Date	--04-30
Document Type	10-Q
Document Period End Date	Jul. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	28,930,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jul. 31, 2015	Apr. 30, 2015
CURRENT ASSETS
Cash and cash equivalents	$ 50,911	$ 59,649
TOTAL ASSETS	50,911	$ 59,649
CURRENT LIABILITIES
Accrued liabilities	1,500
Amount due to a director	9,460	$ 16,000
TOTAL LIABILITIES	$ 10,960	$ 16,000
STOCKHOLDERS' EQUITY
Preferred stock - Par value $0.0001; Authorized: 200,000,000 None issued and outstanding
Common stock - Par value $ 0.0001; Authorized: 600,000,000 Issued and outstanding: 28,930,000	$ 2,893	$ 2,893
Additional paid-in capital	42,957	42,957
Accumulated deficit	(5,899)	(2,201)
TOTAL STOCKHOLDERS' EQUITY	39,951	43,649
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 50,911	$ 59,649

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jul. 31, 2015	Apr. 30, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	200,000,000	200,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	28,930,000	28,930,000
Common stock, shares outstanding	28,930,000	28,930,000

Condensed Consolidated Statemen

Condensed Consolidated Statement of Operations (Unaudited) - 3 months ended Jul. 31, 2015 - USD ($)	Total
Income Statement [Abstract]
REVENUE
COST OF SERVICE
GROSS PROFIT
GENERAL AND ADMINISTRATIVE EXPENSES	$ 3,698
LOSS BEFORE INCOME TAX	$ (3,698)
INCOME TAX EXPENSE
NET LOSS	$ (3,698)
Net loss per share, basic and diluted:	$ 0
Weighted average number of common shares outstanding, basic and diluted	28,930,000

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - 3 months ended Jul. 31, 2015 - USD ($)	Total	COMMON STOCK	ADDITIONAL PAID-IN CAPITAL	ACCUMULATED DEFICIT
Beginning balance at Apr. 30, 2015	$ 43,649	$ 2,893	$ 42,957	$ (2,201)
Beginning balance, shares at Apr. 30, 2015		28,930,000
Net loss	$ (3,698)			$ (3,698)
Ending balance at Jul. 31, 2015	$ 39,951	$ 2,893	$ 42,957	$ (5,899)
Ending balance, shares at Jul. 31, 2015		28,930,000

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Cash Flows (Unaudited)	3 Months Ended
	Jul. 31, 2015USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,698)
Changes in operating assets and liabilities
Accrued liabilities	1,500
Net cash flows used in operating activities	(2,198)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment to a director	(6,540)
Net cash flows used in financing activities	(6,540)
Net changes in cash and cash equivalents	(8,738)
Cash and cash equivalents, beginning of period	59,649
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 50,911
SUPPLEMENTAL CASH FLOWS INFORMATION
Income taxes paid
Interest paid

Basis of Presentation

Basis of Presentation	3 Months Ended
	Jul. 31, 2015
Basis of Presentation [Abstract]
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (“GAAP”), and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. In the opinion of management, the consolidated balance sheet as of April 30, 2015 which has been derived from audited financial statements and these unaudited condensed consolidated financial statements reflect all normal and recurring adjustments considered necessary to state fairly the results for the periods presented. The results for the period ended July 31, 2015 are not necessarily indicative of the results to be expected for the entire fiscal year ending April 30, 2016 or for any future period. These unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the Management’s Discussion and the audited financial statements and notes thereto included in the Amendment No. 2 to Form S-1 for the period from March 9, 2015 (inception) to April 30, 2015.

Description of Business and Org

Description of Business and Organization	3 Months Ended
	Jul. 31, 2015
Description of Business and Organization [Abstract]
DESCRIPTION OF BUSINESS AND ORGANIZATION	2. DESCRIPTION OF BUSINESS AND ORGANIZATION Gushen, Inc. (the “Company”) was incorporated on March 9, 2015 in the state of Nevada. The Company is a development stage company that intends to provide managerial assistance services for small and medium enterprises (“SMEs”) in their early stage of operations through its subsidiary, Gushen Holding Limited, which incorporated in the Republic of Seychelles. The Company attempts to assist the SMEs which are recently established and at an early stage of operations, but will not participate in the Board of the SMEs or making business decision. The primary purpose behind focusing on providing services to companies at this early stage of development will be for the Company to establish and nurture long-term relationship with clients during their growth and development.

Going Concern Uncertainties

Going Concern Uncertainties	3 Months Ended
	Jul. 31, 2015
Going Concern Uncertainties [Abstract]
GOING CONCERN UNCERTAINTIES	3. GOING CONCERN UNCERTAINTIES The accompanying unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the discharge of liabilities in the normal course of business for the foreseeable future. . As of July 31, 2015, the Company suffered an accumulated deficit of $5,899 and had no revenue or committed sources of capital or financing for the reporting period. While the Company has not generated revenues from its services, the Company’s cash position may not be significant enough to support the Company’s daily operations. Management believes that the actions presently being taken to further implement its business plan and generate additional products and revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to realize revenues and in its ability to raise additional funds, there can be no assurances to that effect. The Company’s ability to continue as a going concern is dependent upon its ability to achieve profitable operations or obtain adequate financing. These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. These condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result in the Company not being able to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Jul. 31, 2015
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying condensed consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). Basis of consolidation The condensed consolidated financial statements include the accounts of the Company and its subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. Use of estimates Management uses estimates and assumptions in preparing these condensed consolidated financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheet, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates. Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. Income taxes Income taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”). Under this method, 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 basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. Any 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. ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. Net loss per share The Company calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. Foreign currencies translation Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations. The reporting currency of the Company is United States Dollars (“US$”) and the accompanying condensed consolidated financial statements have been expressed in US$. In addition, the Company’s subsidiary in Seychelles maintains its books and record in Hong Kong Dollars (“HK$”), which is functional currency as being the primary currency of the economic environment in which the entity operates. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity. The gains and losses are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity. Translation of amounts from HK$ into US$1 has been made at the following exchange rates for the respective periods: As of and for the period ended As of and for the period ended July 31, 2015 April 30, 2015 Period-end / average HK$ : US$1 exchange rate 7.75 7.75 Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence. Fair value of financial instruments: The carrying value of the Company's financial instruments: cash and cash equivalents and amount due to a director approximate at their fair values because of the short-term nature of these financial instruments. The Company also follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” ("ASC 820-10"), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. Recent accounting pronouncements FASB issues various Accounting Standards Updates relating to the treatment and recording of certain accounting transactions. On June 10, 2015, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2015-10, Development Stage Entities (Topic 915) - Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) entirely from current accounting guidance. The Company has elected adoption of this standard, which eliminates the designation of DSEs and the requirement to disclose results of operations and cash flows since inception. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Jul. 31, 2015
Stockholders' Equity [Abstract]
STOCKHOLDERS' EQUITY	5. STOCKHOLDERS’ EQUITY As of July 31, 2015, there are 28,930,000 shares of common stock issued and outstanding. There were no stock options, warrants or other potentially dilutive securities outstanding as of July 31, 2015.

Income Taxes

Income Taxes	3 Months Ended
	Jul. 31, 2015
Income Taxes [Abstract]
INCOME TAXES	6. INCOME TAXES For the three months ended July 31, 2015, the local (United States) and foreign components of loss before income taxes were comprised of the following: Three months ended July 31, 2015 Tax jurisdictions from: - Local (3,635 ) - Foreign, representing Seychelles (63 ) Loss before income tax (3,698 ) The provision for income taxes consisted of the following: Three months ended July 31, 2015 Current: - Local - - Foreign - Deferred: - Local - - Foreign - Income tax expense - The effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates. The Company and its subsidiary that operate in various countries: United States and Seychelles that are subject to taxes in the jurisdictions in which they operate, as follows: United States of America The Company is registered in the State of Nevada and is subject to the tax laws of the United States of America. As of July 31, 2015, the operations in the United States of America incurred $4,414 of cumulative net operating losses which can be carried forward to offset future taxable income. The net operating loss carryforwards begin to expire in 2035, if unutilized. The Company has provided for a full valuation allowance of $1,545 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future. Seychelles Under the current laws of the Republic of Seychelles (“Seychelles”), Gushen Holding Limited is registered as an international business company which governs by the International Business Companies Act of Seychelles. A company is subject to Seychelles income tax if it does business in Seychelles. A company that is incorporated in Seychelles, but that does not do business in Seychelles, is not subject to income tax there. Gushen Holding Limited did not do business in Seychelles for the three months ended July 31, 2015, and it does not intend to do business in Seychelles in the future. For the three months ended July 31, 2015, Gushen Holding Limited incurred a net operating loss of $63.

Amount Due to a Director

Amount Due to a Director	3 Months Ended
	Jul. 31, 2015
Amount Due to a Director [Abstract]
AMOUNT DUE TO A DIRECTOR	7. AMOUNT DUE TO A DIRECTOR As of July 31, 2015, amount due to a director represented the temporary advances made to the Company by the director of the Company, Mr. Cheung Yat Kit, which is unsecured, interest-free and repayable on demand.

Subsequent Events

Subsequent Events	3 Months Ended
	Jul. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	8. SUBSEQUENT EVENTS In accordance with ASC Topic 855, “ Subsequent Events

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jul. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying condensed consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”).
Basis of consolidation	Basis of consolidation The condensed consolidated financial statements include the accounts of the Company and its subsidiary. All inter-company accounts and transactions have been eliminated in consolidation.
Use of estimates	Use of estimates Management uses estimates and assumptions in preparing these condensed consolidated financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheet, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments.
Income taxes	Income taxes Income taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”). Under this method, 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 basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. Any 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. ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.
Net loss per share	Net loss per share The Company calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive.
Foreign currencies translation	Foreign currencies translation Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations. The reporting currency of the Company is United States Dollars (“US$”) and the accompanying condensed consolidated financial statements have been expressed in US$. In addition, the Company’s subsidiary in Seychelles maintains its books and record in Hong Kong Dollars (“HK$”), which is functional currency as being the primary currency of the economic environment in which the entity operates. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity. The gains and losses are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity. Translation of amounts from HK$ into US$1 has been made at the following exchange rates for the respective periods: As of and for the period ended As of and for the period ended July 31, 2015 April 30, 2015 Period-end / average HK$ : US$1 exchange rate 7.75 7.75
Related parties	Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.
Fair value of financial instruments	Fair value of financial instruments: The carrying value of the Company's financial instruments: cash and cash equivalents and amount due to a director approximate at their fair values because of the short-term nature of these financial instruments. The Company also follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” ("ASC 820-10"), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.
Recent accounting pronouncements	Recent accounting pronouncements FASB issues various Accounting Standards Updates relating to the treatment and recording of certain accounting transactions. On June 10, 2015, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2015-10, Development Stage Entities (Topic 915) - Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) entirely from current accounting guidance. The Company has elected adoption of this standard, which eliminates the designation of DSEs and the requirement to disclose results of operations and cash flows since inception. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Jul. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Schedule of exchange rates for the respective periods	As of and for the period ended As of and for the period ended July 31, 2015 April 30, 2015 Period-end / average HK$ : US$1 exchange rate 7.75 7.75

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Jul. 31, 2015
Income Taxes [Abstract]
Schedule of local and foreign components of loss before income taxes	Three months ended July 31, 2015 Tax jurisdictions from: - Local (3,635 ) - Foreign, representing Seychelles (63 ) Loss before income tax (3,698 )
Schedule of provision for income taxes	Three months ended July 31, 2015 Current: - Local - - Foreign - Deferred: - Local - - Foreign - Income tax expense -

Going Concern Uncertainties (De

Going Concern Uncertainties (Details) - USD ($)	Jul. 31, 2015	Apr. 30, 2015
Going concern uncertainties (Textual)
Accumulated deficit	$ 5,899	$ 2,201

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Details)	Jul. 31, 2015	Apr. 30, 2015
Summary of Significant Accounting Policies [Abstract]
Period-end / average HK$ : US$1 exchange rate	7.75	7.75

Stockholders' Equity (Details)

Stockholders' Equity (Details) - shares	Jul. 31, 2015	Apr. 30, 2015
Equity (Textual)
Common stock issued, shares	28,930,000	28,930,000
Common stock outstanding, shares	28,930,000	28,930,000

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Jul. 31, 2015USD ($)
Tax jurisdictions from:
Local	$ (3,635)
Foreign, representing Seychelles	(63)
Loss before income tax	$ (3,698)

Income Taxes (Details 1)

Income Taxes (Details 1) None in scaling factor is -9223372036854775296	3 Months Ended
	Jul. 31, 2015USD ($)
Current:
Local
Foreign
Deferred:
Local
Foreign
Income tax expense

Income Taxes (Details Textual)

Income Taxes (Details Textual) - Jul. 31, 2015 - USD ($)	Total
Income taxes (Textual)
Cumulative net operating losses	$ 4,414
Operating loss carryforwards expiration date	Expire in 2035
Deferred tax assets valuation allowance	$ 1,545
Net operating loss Seychelles	$ (63)