Xenous (XITO) 10-K 28 Jun 23 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Mar. 31, 2023	Jun. 22, 2023	Sep. 30, 2022
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, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Entity Common Stock Shares Outstanding		760,250,000
Entity Public Float			$ 897,362
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, 2023	Mar. 31, 2022
Current Asset
Prepaid expenses	$ 0	$ 72
Total Current Asset	0	72
TOTAL ASSET	0	72
Current Liabilities
Accounts payable and accrued liabilities	13,966	18,157
Due to a related party	761,454	699,617
Total Current Liabilities	775,420	717,774
TOTAL LIABILITIES	775,420	717,774
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	(1,086,220)	(1,028,502)
Total Stockholders' Deficit	(775,420)	(717,702)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 0	$ 72

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Mar. 31, 2022
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, 2023	Mar. 31, 2022
OPERATING EXPENSES
General and administrative	$ 530	$ 724
Professional fees	57,188	63,990
TOTAL OPERATING EXPENSES	57,718	64,714
NET LOSS	$ (57,718)	$ (64,714)
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 ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement [Line Items]
Balance, amount	$ (717,702)	$ (652,988)
Net loss	(57,718)	(64,714)
Balance, amount	$ (775,420)	$ (717,702)
Common Stock
Statement [Line Items]
Balance, shares	760,250,000	760,250,000
Balance, amount	$ 760,250	$ 760,250
Net loss	$ 0	$ 0
Balance, shares	760,250,000	760,250,000
Balance, amount	$ 760,250	$ 760,250
Capital Deficiency
Statement [Line Items]
Balance, amount	(449,450)	(449,450)
Net loss	0	0
Balance, amount	(449,450)	(449,450)
Accumulated Deficit
Statement [Line Items]
Balance, amount	(1,028,502)	(963,788)
Net loss	(57,718)	(64,714)
Balance, amount	$ (1,086,220)	$ (1,028,502)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (57,718)	$ (64,714)
Changes in operating assets and liabilities:
Prepaid expenses	72	(72)
Accounts payable and accrued liabilities	(4,191)	6,401
Net cash used in operating activities	(61,837)	(58,385)
CASH FLOWS FROM FINANCING ACTIVITY
Proceeds from related party advances	61,837	58,385
Net cash provided by financing activity	61,837	58,385
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, 2023
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, 2023
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, 2023 and 2022, 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, 2023, there were no unrecognized tax benefits. (see Note 6) Recently Issued Accounting Pronouncements 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. In May 2019, the FASB issued ASU 2019-05, which is an update to ASU Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced the expected credit losses methodology for the measurement of credit losses on financial assets measured at amortized cost basis, replacing the previous incurred loss methodology. The amendments in Update 2016-13 added Topic 326, Financial Instruments—Credit Losses, and made several consequential amendments to the Codification. The amendments in this Update address those stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Furthermore, the targeted transition relief also may reduce the costs for some entities to comply with the amendments in Update 2016-13 while still providing financial statement users with decision-useful information. In November 2019, the FASB issued ASU No. 2019-10, which to update the effective date of ASU No. 2016-13 for private companies, not-for-profit organizations and certain smaller reporting companies applying for credit losses, leases, and hedging standard. The new effective date for these preparers is for fiscal years beginning after December 15, 2022. ASU 2019-05 is effective for the Company for annual and interim reporting periods beginning January 1, 2023 as the Company is qualified as a smaller reporting company. The Company is currently evaluating the impact ASU 2019-05 may have on its consolidated financial statements.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Mar. 31, 2023
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 $57,718 for the year ended March 31, 2023. As of March 31, 2023, the Company has accumulated deficit of $1,086,220, negative operating cash flow of $61,837 and negative working capital of $775,420. 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, 2023
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 4 - RELATED PARTY TRANSACTIONS Due to Related Party During the year ended March 31, 2023 and 2022, Smartex Investment Ltd., the majority shareholder of the Company which is holding 82% of the Company’s common shares, advanced $61,837 and $58,385, respectively, to the Company for operating expenses. As of March 31, 2023 and March 31, 2022, total amount due to Smartex Investment Ltd. was $761,454 and $699,617 respectively. The loan is non-interest bearing and due on demand.

SHARE CAPITAL

SHARE CAPITAL	12 Months Ended
	Mar. 31, 2023
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, 2023 and March 31, 2022, 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, 2023 and 2022. As of March 31, 2023 and March 31, 2022, the Company had 760,250,000 shares of common stock issued and outstanding.

INCOME TAX

INCOME TAX	12 Months Ended
	Mar. 31, 2023
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, 2023 and 2022, are as follows: March 31, March 31, 2023 2022 Net operating loss carryforward $ (741,283 ) $ (683,565 ) Tax Rate 21 % 21 % Deferred tax asset (155,669 ) (143,548 ) Less: Valuation allowance 155,669 143,548 Deferred tax asset $ - $ - As of March 31, 2023, the Company had approximately $741,000 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 2023 are subject to review by the tax authorities.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Mar. 31, 2023
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 7 – SUBSEQUENT EVENTS In accordance with ASC 855-10, the Company has analyzed its operations subsequent to December 31, 2022 to the date these financial statements were issued and has determined that it does not have other material subsequent events to disclose in these financial statements except as stated below: In November 2022, the Company previously announced that it was conducting a full financial and legal due diligence of a Malaysia-based company involving the plantations, inoculations, cultivations, manufacturing, marketing, trading and conducting research and development of agricultural commodities in relation to Aquilaria trees and its related products. However, the due diligence process related to the acquisition plan is still in progress as at the date of this filing, and upon satisfactory only, the Company shall execute a separate share purchase agreement based on the valuation report. In February 2023, the Company previously announced that it was conducting a full financial and legal due diligence of a US-based company involving renewable energies which have been awarded a solar farm project backed by the US Government. However, the negotiations on the acquisition terms were unsuccessful as at the date of this filing.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2023
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, 2023 and 2022, 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, 2023, there were no unrecognized tax benefits. (see Note 6)
Recently Issued Accounting Pronouncements	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. In May 2019, the FASB issued ASU 2019-05, which is an update to ASU Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced the expected credit losses methodology for the measurement of credit losses on financial assets measured at amortized cost basis, replacing the previous incurred loss methodology. The amendments in Update 2016-13 added Topic 326, Financial Instruments—Credit Losses, and made several consequential amendments to the Codification. The amendments in this Update address those stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Furthermore, the targeted transition relief also may reduce the costs for some entities to comply with the amendments in Update 2016-13 while still providing financial statement users with decision-useful information. In November 2019, the FASB issued ASU No. 2019-10, which to update the effective date of ASU No. 2016-13 for private companies, not-for-profit organizations and certain smaller reporting companies applying for credit losses, leases, and hedging standard. The new effective date for these preparers is for fiscal years beginning after December 15, 2022. ASU 2019-05 is effective for the Company for annual and interim reporting periods beginning January 1, 2023 as the Company is qualified as a smaller reporting company. The Company is currently evaluating the impact ASU 2019-05 may have on its consolidated financial statements.

INCOME TAX (Tables)

INCOME TAX (Tables)	12 Months Ended
	Mar. 31, 2023
INCOME TAX
Schedule of deferred tax asset and reconciliation of income taxes	March 31, March 31, 2023 2022 Net operating loss carryforward $ (741,283 ) $ (683,565 ) Tax Rate 21 % 21 % Deferred tax asset (155,669 ) (143,548 ) Less: Valuation allowance 155,669 143,548 Deferred tax asset $ - $ -

GOING CONCERN (Detail Narrative

GOING CONCERN (Detail Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
GOING CONCERN
Cash Flow From Operating Activities	$ (61,837)
Net loss	(57,718)	$ (64,714)
Accumulated deficit	(1,086,220)	$ (1,028,502)
Working capital	$ (775,420)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement [Line Items]
Due to a related party	$ 761,454	$ 699,617
Proceeds from related party advances	61,837	58,385
Smartex Investment Ltd [Member]
Statement [Line Items]
Due to a related party	761,454	699,617
Proceeds from related party advances	$ 61,837	$ 58,385
Ownership percentage	82%

SHARE CAPITAL (Details Narrativ

SHARE CAPITAL (Details Narrative) - $ / shares	Mar. 31, 2023	Mar. 31, 2022
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, 2023	Mar. 31, 2022
INCOME TAX
Net operating loss carryforward	$ (741,283)	$ (683,565)
Tax rate	21%	21%
Deferred tax asset	$ (155,669)	$ (143,548)
Less: Valuation allowance	155,669	143,548
Deferred tax asset	$ 0	$ 0

INCOME TAX (Details Narrative)

INCOME TAX (Details Narrative)	12 Months Ended
	Mar. 31, 2023 USD ($)
INCOME TAX
Net operating loss carryforward	$ 741,000
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