Cover
Cover - USD ($) | 12 Months Ended | ||
Mar. 31, 2022 | Jun. 21, 2022 | Sep. 30, 2021 | |
Cover [Abstract] | |||
Entity Registrant Name | Xenous Holdings, Inc. | ||
Entity Central Index Key | 0001651932 | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --03-31 | ||
Entity Well Known Seasoned Issuer | No | ||
Entity Small Business | true | ||
Entity Shell Company | true | ||
Entity Emerging Growth Company | false | ||
Entity Current Reporting Status | Yes | ||
Document Period End Date | Mar. 31, 2022 | ||
Entity Filer Category | Non-accelerated Filer | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2022 | ||
Entity Common Stock Shares Outstanding | 760,250,000 | ||
Entity Public Float | $ 5,522,227 | ||
Document Annual Report | true | ||
Entity File Number | 000-55512 | ||
Entity Incorporation State Country Code | NV | ||
Entity Tax Identification Number | 87-0363526 | ||
Entity Interactive Data Current | Yes | ||
Document Transition Report | false | ||
Entity Address Address Line 1 | Room 1120, 11th Floor, Peninsula Centre | ||
Entity Address Address Line 2 | 67 Mody Road | ||
Entity Address Address Line 3 | Tsim Sha Tsui | ||
Entity Address City Or Town | East Kowloon | ||
Entity Address Country | HK | ||
City Area Code | 852 | ||
Local Phone Number | 6464-2017 | ||
Auditor Name | JP CENTURION & PARTNERS PLT | ||
Auditor Location | Kuala Lumpur, Malaysia | ||
Auditor Firm Id | 6723 |
Balance Sheets
Balance Sheets - USD ($) | Mar. 31, 2022 | Mar. 31, 2021 |
Current Asset | ||
Prepaid expenses | $ 72 | $ 0 |
Total Current Asset | 72 | 0 |
TOTAL ASSET | 72 | 0 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 18,157 | 11,756 |
Due to a related party | 699,617 | 641,232 |
Total Current Liabilities | 717,774 | 652,988 |
TOTAL LIABILITIES | 717,774 | 652,988 |
STOCKHOLDERS' DEFICIT | ||
Preferred stock, par value $0.001 per share, 10,000,000 shares authorized, no shares issued and outstanding | 0 | 0 |
Common stock, par value $0.001 per share, 10,000,000,000 shares authorized, 760,250,000 shares issued and outstanding | 760,250 | 760,250 |
Capital deficiency | (449,450) | (449,450) |
Accumulated deficit | (1,028,502) | (963,788) |
Total Stockholders' Deficit | (717,702) | (652,988) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 72 | $ 0 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2022 | Mar. 31, 2021 |
STOCKHOLDERS' DEFICIT | ||
Preferred stock, shares par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 10,000,000,000 | 10,000,000,000 |
Common stock, shares issued | 760,250,000 | 760,250,000 |
Common stock, shares outstanding | 760,250,000 | 760,250,000 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
OPERATING EXPENSES | ||
General and administrative | $ 724 | $ 11,703 |
Professional fees | 63,990 | 78,088 |
OperatingExpenses | 64,714 | 89,791 |
NET LOSS | $ (64,714) | $ (89,791) |
Basic and Diluted Loss per Common Share | $ 0 | $ 0 |
Basic and Diluted Weighted Average Number of Common Shares | 760,250,000 | 760,250,000 |
Statements of Changes in Stockh
Statements of Changes in Stockholders' Deficit - USD ($) | Total | Common Stock | Capital Deficiency | Accumulated Deficit |
Balance, shares at Mar. 31, 2020 | 760,250,000 | |||
Balance, amount at Mar. 31, 2020 | $ (563,197) | $ 760,250 | $ (449,450) | $ (873,997) |
Net loss | (89,791) | $ 0 | 0 | (89,791) |
Balance, shares at Mar. 31, 2021 | 760,250,000 | |||
Balance, amount at Mar. 31, 2021 | (652,988) | $ 760,250 | (449,450) | (963,788) |
Net loss | (64,714) | $ 0 | 0 | (64,714) |
Balance, shares at Mar. 31, 2022 | 760,250,000 | |||
Balance, amount at Mar. 31, 2022 | $ (717,702) | $ 760,250 | $ (449,450) | $ (1,028,502) |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (64,714) | $ (89,791) |
Changes in operating asset and liabilities: | ||
Prepaid expenses | (72) | 0 |
Accounts payable and accrued liabilities | 6,401 | 5,626 |
Net cash used in operating activities | (58,385) | (84,165) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from related party advances | 58,385 | 84,165 |
Net cash provided by financing activities | 58,385 | 84,165 |
Net changes in cash and cash equivalents | 0 | 0 |
Cash and cash equivalents - beginning of period | 0 | 0 |
Cash and cash equivalents - end of period | 0 | 0 |
Supplemental Cash Flow Disclosures | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | $ 0 | $ 0 |
NATURE OF BUSINESS AND CONTINUA
NATURE OF BUSINESS AND CONTINUANCE OF OPERATIONS | 12 Months Ended |
Mar. 31, 2022 | |
NATURE OF BUSINESS AND CONTINUANCE OF OPERATIONS | |
NATURE OF BUSINESS AND CONTINUANCE OF OPERATIONS | NOTE 1 - NATURE OF BUSINESS AND CONTINUANCE OF OPERATIONS Xenous Holdings, Inc. (the “Company”) was incorporated on May 20, 1980 as Dayne Weiss and Associates, Inc. under the laws of the State of Utah. On December 19, 2014, the Company completed a change of domicile merger with Concept Holding Corp., a Nevada corporation, which became the surviving entity. On July 21, 2017, the Board of Directors of the Company elected to file Articles of Merger with the Nevada SOS whereby it would enter into a statutory merger with its wholly-owned subsidiary, M101 Corp., a Nevada corporation, pursuant to Nevada Revised Statutes 92A.200, et seq. The effect of such merger is the Company is the surviving entity and changed its name to “M101 Corp.” The merger took effect on August 14, 2017. On November 2, 2019, a majority of shareholders approved a resolution to change the name of the Company to Xenous Holdings, Inc. On November 19, 2019, the Company received notice that the Secretary of State of Nevada accepted the Company’s Certificate of Amendment to its Articles of Incorporation to change the name of the Company to Xenous Holdings, Inc. The Company currently has no business operations. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Mar. 31, 2022 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). These financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States. Use of Estimates The Company prepares its financial statements in conformity with “GAAP,” which require 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 financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Fair Value of Financial Instruments ASC 820 “ Fair Value Measurements and Disclosures These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company’s financial instruments consist primarily of accounts payable and debts. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and approximate market interest rates of these instruments. Basic and Diluted Earnings Per Share The Company has adopted ASC Topic 260, ”Earnings per Share,” As of March 31, 2022 and March 31, 2021, the Company did not have any potentially dilutive securities. Related Parties We follow ASC 850, “Related Party Disclosures,” Income Taxes The Company accounts for income taxes pursuant to FASB ASC 740 “ Income Taxes ASC 740 also provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax positions. Under ASC 740, the impact of an uncertain tax position on the income tax return may only be recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. At March 31, 2022, there were no unrecognized tax benefits. (see Note 6). COVID-19 In early 2020, the World Health Organization declared the rapidly spreading coronavirus disease (COVID-19) outbreak a pandemic. This pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no material adverse impacts on the Company’s results of operations and financial position at March 31, 2022. The full extent of the future impacts of COVID-19 on the Company’s operations is uncertain. A prolonged outbreak could have a material adverse impact on financial results and business operations of the Company in the future. The Company is not 10 may Recently Issued Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income taxes. This guidance will be effective for entities for the fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020 on a prospective basis, with early adoption permitted. We adopted the new standard effective April 1, 2021 and there was no material impact on the Company’s financial statements. Management has considered all recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements. |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Mar. 31, 2022 | |
GOING CONCERN | |
GOING CONCERN | NOTE 3 - GOING CONCERN The Company has not yet generated any revenue since its inception and has an operating loss and net loss of $64,714 for the year ended March 31, 2022. As of March 31, 2022, the Company has accumulated deficit of $1,028,502, and negative working capital of $717,702. The Company’s continuation as a going concern is dependent on its ability to execute its operation plan to generate sufficient cash flows from operations to meet its obligations and/or obtaining additional financing from its major shareholders or other sources, as may be required. There can be no assurance that the necessary debt or equity financing will be available or will be available on terms acceptable to the Company. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above conditions raise substantial doubt about the Company’s ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. While we believe in the viability of our strategy to generate sufficient revenues in the future and in our ability to raise additional funds, there can be no assurances to that effect. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Mar. 31, 2022 | |
RELATED PARTY TRANSACTIONS | |
RELATED PARTY TRANSACTIONS | NOTE 4 - RELATED PARTY TRANSACTIONS Due to Related Party During the year ended March 31, 2022 and 2021, Smartex Investment Ltd., the majority shareholder of the Company which is holding 82% of the Company’s common shares, advanced $58,385 and $84,165, respectively, to the Company for operating expenses. As of March 31, 2022 and March 31, 2021, total amount due to Smartex Investment Ltd. was $699,617 and $641,232 respectively. The loan is non-interest bearing and due on demand. |
SHARE CAPITAL
SHARE CAPITAL | 12 Months Ended |
Mar. 31, 2022 | |
SHARE CAPITAL | |
SHARE CAPITAL | NOTE 5 – SHARE CAPITAL Preferred Stock The Company is authorized to issue 10,000,000 shares of preferred stock with a par value of $0.001 per share. As of March 31, 2022 and March 31, 2021, no preferred shares have been issued. Common Stock The Company is authorized to issue 10,000,000,000 shares of common stock with a par value of $0.001 per share. There were no stock issuances during the year ended March 31, 2022 and 2021. As of March 31, 2022 and March 31, 2021, the Company had 760,250,000 shares of common stock issued and outstanding. |
INCOME TAX
INCOME TAX | 12 Months Ended |
Mar. 31, 2022 | |
INCOME TAX | |
INCOME TAX | NOTE 6 – INCOME TAX The Company provides for income taxes under ASC 740, “ Income Taxes.” 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 March 31, 2022 and 2021, are as follows: March 31, March 31, 2022 2021 Net operating loss carryforward $ (683,565 ) $ (618,851 ) Tax Rate 21 % 21 % Deferred tax asset (143,548 ) (129,958 ) Less: Valuation allowance 143,548 129,958 Deferred tax asset $ - $ - As of March 31, 2022, the Company had approximately $684,000 of the U.S. net operating losses (the “U.S. NOLs”), which begin to expire between 2034 and 2038. NOLs generated in tax years prior to March 31, 2018, can be carried forward for twenty years, whereas NOLs generated after March 31, 2018 can be carried forward indefinitely. In accordance with Section 382 of the U.S. Internal Revenue Code, the usage of the Company’s net operating loss carry forwards is subject to annual limitations following greater than 50% ownership changes. Tax returns for the years ended 2014 through 2022 are subject to review by the tax authorities. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Mar. 31, 2022 | |
SUBSEQUENT EVENTS | |
SUBSEQUENT EVENTS | NOTE 7 – SUBSEQUENT EVENTS Management has evaluated subsequent events through the date these financial statements were issued. Based on our evaluation, no events have occurred that require disclosure. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Mar. 31, 2022 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation | The financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). These financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States. |
Use of Estimates | The Company prepares its financial statements in conformity with “GAAP,” which require 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 financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Fair Value of Financial Instruments | ASC 820 “ Fair Value Measurements and Disclosures These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company’s financial instruments consist primarily of accounts payable and debts. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and approximate market interest rates of these instruments. |
Basic and Diluted Earnings Per Share | The Company has adopted ASC Topic 260, ”Earnings per Share,” As of March 31, 2022 and March 31, 2021, the Company did not have any potentially dilutive securities. |
Related Parties | We follow ASC 850, “Related Party Disclosures,” |
Income Taxes | The Company accounts for income taxes pursuant to FASB ASC 740 “ Income Taxes ASC 740 also provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax positions. Under ASC 740, the impact of an uncertain tax position on the income tax return may only be recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. At March 31, 2022, there were no unrecognized tax benefits. (see Note 6). |
COVID-19 | In early 2020, the World Health Organization declared the rapidly spreading coronavirus disease (COVID-19) outbreak a pandemic. This pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no material adverse impacts on the Company’s results of operations and financial position at March 31, 2022. The full extent of the future impacts of COVID-19 on the Company’s operations is uncertain. A prolonged outbreak could have a material adverse impact on financial results and business operations of the Company in the future. The Company is not 10 may |
Recently Issued Accounting Pronouncements | In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income taxes. This guidance will be effective for entities for the fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020 on a prospective basis, with early adoption permitted. We adopted the new standard effective April 1, 2021 and there was no material impact on the Company’s financial statements. Management has considered all recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements. |
INCOME TAX (Tables)
INCOME TAX (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
INCOME TAX | |
Schedule of Deferred Tax Assets | March 31, March 31, 2022 2021 Net operating loss carryforward $ (683,565 ) $ (618,851 ) Tax Rate 21 % 21 % Deferred tax asset (143,548 ) (129,958 ) Less: Valuation allowance 143,548 129,958 Deferred tax asset $ - $ - |
GOING CONCERN (Detail Narrative
GOING CONCERN (Detail Narrative) - USD ($) | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
GOING CONCERN | |||
Net loss | $ (64,714) | $ (89,791) | |
Accumulated deficit | (1,028,502) | (963,788) | |
Total Stockholders' Deficit | $ (717,702) | $ (652,988) | $ (563,197) |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Due to a related party | $ 699,617 | $ 641,232 |
Proceeds from related party advances | 58,385 | 84,165 |
Smartex Investment Ltd [Member] | ||
Due to a related party | 699,617 | 641,232 |
Proceeds from related party advances | $ 58,385 | $ 84,165 |
Ownership percentage | 82% |
SHARE CAPITAL (Details Narrativ
SHARE CAPITAL (Details Narrative) - $ / shares | Mar. 31, 2022 | Mar. 31, 2021 |
SHARE CAPITAL | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 10,000,000,000 | 10,000,000,000 |
Common stock, shares issued | 760,250,000 | 760,250,000 |
Common stock, shares outstanding | 760,250,000 | 760,250,000 |
INCOME TAX (Details)
INCOME TAX (Details) - USD ($) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
INCOME TAX | ||
Net operating loss carryforward | $ (683,565) | $ (618,851) |
Tax rate | 21% | 21% |
Deferred tax asset | $ (143,548) | $ (129,958) |
Less: Valuation allowance | 143,548 | 129,958 |
Deferred tax asset | $ 0 | $ 0 |
INCOME TAX (Details Narrative)
INCOME TAX (Details Narrative) | 12 Months Ended |
Mar. 31, 2022 USD ($) | |
INCOME TAX | |
Net operating loss carryforward | $ 684,000 |
Description of expire date | expire between 2034 and 2038 |
Ownership changes | 50% |
Description of ownership changes | the Company’s net operating loss carry forwards is subject to annual limitations following greater than 50% ownership changes |