Document and Entity Information
Document and Entity Information | 6 Months Ended |
Sep. 30, 2018shares | |
Document And Entity Information | |
Entity Registrant Name | Achison Inc |
Entity Central Index Key | 1,672,571 |
Document Type | 10-Q |
Document Period End Date | Sep. 30, 2018 |
Amendment Flag | false |
Current Fiscal Year End Date | --03-31 |
Entity Filer Category | Non-accelerated Filer |
Entity Common Stock, Shares Outstanding | 9,990,000 |
Document Fiscal Period Focus | Q2 |
Document Fiscal Year Focus | 2,019 |
Entity Emerging Growth Company | false |
Entity Small Business | true |
Balance Sheets
Balance Sheets - USD ($) | Sep. 30, 2018 | Mar. 31, 2018 |
Current Assets: | ||
Cash & cash equivalents | $ 26,322 | $ 1,511 |
Short Term Investments | 45,509 | 8,280 |
Total current assets | 71,831 | 9,791 |
Other assets: | ||
Notes Receivable | 28,200 | 16,000 |
Total other assets | 28,200 | 16,000 |
TOTAL ASSETS | 100,031 | 25,791 |
Current Liabilities: | ||
Accounts Payable | ||
Taxes Payable | 17,369 | |
Loans | 2,000 | |
Deferred Tax Liabilities | 1,669 | |
Total current liabilities | 19,038 | 2,000 |
Stockholder's equity: | ||
Common Stock: 0.001 Par Value; 9,990,000 Shares Authorized; 9,990,000 share issued and outstanding | 9,990 | 9,990 |
Additional paid-in capital | 39,035 | 13,935 |
Retained Earnings (Deficit) | 29,587 | (134) |
Equity Atttributable to Holders of the Parents | 78,612 | 23,791 |
Equity Attributable to Non-controlling Interest | 2,381 | |
Total Stockholder's equity | 80,993 | 23,791 |
Total liabilities and stockholder's equity | $ 100,031 | $ 25,791 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2018 | Mar. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, Authorized | 9,990,000 | 9,990,000 |
Common stock, Issued | 9,990,000 | 9,990,000 |
Common stock, outstanding | 9,990,000 | 9,990,000 |
Statements of Revenues and Expe
Statements of Revenues and Expenses - USD ($) | 3 Months Ended | 6 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenues: | |||
Realized Gain (loss) from Investment | $ 34,970 | $ 63,660 | $ 22 |
Trading Comissions | 7 | ||
Interest Income | 792 | 1,418 | |
Unrealized Gain (loss) from Investments | 11,005 | 4,599 | (159) |
Less: (Fee and commission expense) | (265) | (565) | (36) |
Net Profit (loss) | 46,502 | 69,112 | (166) |
Expenses: | |||
Bank Service Charges | 161 | 270 | 54 |
Franchise Tax, License and Permit | 688 | 713 | 82 |
Custody Expenses | 26 | 26 | |
Legal & Professional | 13,644 | 19,919 | |
Total Expenses | 14,519 | 20,928 | 136 |
Excess of Expenses over Revenues before Taxes | 31,983 | 48,184 | (302) |
Provision for Taxes-Federal Taxes | 10,998 | 10,998 | |
Provision for Taxes-NY State Taxes | 3,404 | 3,404 | |
Provision for Taxes-NYC Taxes | 4,635 | 4,635 | |
Net Income (Loss) | 12,946 | 29,147 | (302) |
Attributable to the Parent Net Income (Loss) | 13,521 | 29,722 | |
Attributable to the Non-controlling Interest Net Income (Loss) | $ (575) | $ (575) |
Statement of Changes in Stockho
Statement of Changes in Stockholders Equity - 6 months ended Sep. 30, 2018 | USD ($) |
Beginning Balance, Amount at Mar. 31, 2018 | $ 23,791 |
Net (Loss) of Parent Company | 33,336 |
Net (Loss) of Non-controlling Interest | (4,189) |
Common Stock of Non-controlling Interest | 1,585 |
Additional paid-in capital of Parent Company | 25,099 |
Additional paid-in capital of Non-controlling Interest | 1,371 |
Ending Balance, Amount at Sep. 30, 2018 | $ 80,993 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 6 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash Flows From Operating Activities: | ||
Net Income (loss) | $ 29,147 | $ (302) |
Adjustments to reconcile excess of revenue over expenses to net cash provided by operating activities: | ||
Depreciation | ||
(Increase) decrease in assets: | ||
Accounts receivables | ||
Short-Term Investments | (37,229) | 270 |
Increase (decrease) in liabilities: | ||
Accounts payables | 17,369 | |
Deferred Taxes | 1,669 | |
Net cash provided by operating activities | 10,956 | (32) |
Cash Flows From Investing Activities: | ||
Long Term Investments | ||
Net cash (used in) investing activities | ||
Cash Flows From Financing Activities: | ||
Notes Receivable | (12,200) | |
Loans Payable | (2,000) | |
Capital stock-Parent Company | 9,990 | |
Capital stock-Non-controlling Interest | 1,371 | |
Additional paid-in capital-Parent Company | 25,099 | 510 |
Additional paid-in capital-Non-controlling Interest | 1,585 | |
Net cash provided by (used in) financing activities | 13,855 | 10,500 |
Net increase (decrease) in cash and cash equivalents | 24,811 | 10,468 |
Cash and cash equivalents - beginning | 1,511 | 1,635 |
Cash and cash equivalents - ending | 26,322 | 1,856 |
Supplemental cash flow information: | ||
Cash paid during the periods for: Interest | ||
Cash paid during the period for: Tax expenses |
NOTE 1. ORGANIZATION AND BUSINE
NOTE 1. ORGANIZATION AND BUSINESS ACTIVITIES | 6 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
NOTE 1. ORGANIZATION AND BUSINESS ACTIVITIES | NOTE 1. ORGANIZATION AND BUSINESS ACTIVITIES Achison Inc., the Company, incorporated in the State of New York on December 29, 2014, is currently engaged in trading in spot silver in Singapore market, investing in equity securities in the U.S. market and Whisky in the United Kingdom market. Prior to September of 2017 the Company primarily engaged in trading spot gold and silver in Singapore Markets but has now recently opened a securities brokerage account with Wilson Davis Company located in Salt Lake City, Utah through which they purchase and sell U.S. equity securities. The Company no longer intends to engage in the trading of spot gold. Furthermore, the Company has engaged in the trading of crypto/digital currency, however has discontinued all trading in crypto currency as of the balance sheet date. The Company’s activities are subject to significant risks and uncertainties. |
NOTE 2. SUMMARY OF SIGNIFICANT
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES a. Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The company was incorporated on December 29, 2014, and the Company started its operations to trade the spot gold and spot silver on March 29, 2016 through August 2017. Now the Company only trades in the spot silver in Singapore and U.S. equity securities. Additionally, the Company started to trade in Whisky in the UK markets starting September 30, 2018. These accompanying consolidated financial statements of the Company is for the period from April 01, 2018 to September 30, 2018, the subsidiary, Linton, Inc. was acquired on July 20, 2018 and Achison Inc. owns 86.27% of the company.. b. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. c. Income Taxes The Company is responsible for paying federal, state and local income tax and, accordingly, provisions are made for income taxes. d. Basis of measurement The financial statements have been prepared on the historical cost basis, except for the following material items in the statement of financial position: (a). All short-term investments including spot gold, spot silver and equity securities are considered Trading Securities (b). Short-term investments at fair value through gains or losses are measured at fair value e. Cash and Cash Equivalents The financial statements are presented in US dollar, which is the Company's functional currency. Cash and cash equivalents include cash on hand; cash in banks and brokerage accounts and all highly liquid investments with maturity of three months or less at the time purchase. Cash in Bank and brokerage accounts $ 26,322. f. Revenue Recognition The company recognizes capital gains and losses from the spot gold trading and the spot silver trading at the time it sells gold and silver from the trading in brokerage firms. With trading in crypto/digital currency, it recognizes capital gains when they are converted to USD. Additionally, it recognizes unrealized gains and losses through adjustments to the fair market value at the end of each period. The change in fair market value is reported on the income statement under "Revenues" - "Unrealized Gain (loss) from investments". |
NOTE 3. EARNINGS PER SHARE
NOTE 3. EARNINGS PER SHARE | 6 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share, Basic [Abstract] | |
NOTE 3. EARNINGS PER SHARE | NOTE 3. EARNINGS PER SHARE Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. There were no potentially dilutive shares outstanding as of September 30, 2018. |
NOTE 4. SHORT TERM INVESTMENTS
NOTE 4. SHORT TERM INVESTMENTS | 6 Months Ended |
Sep. 30, 2018 | |
Investments, All Other Investments [Abstract] | |
NOTE 4. SHORT TERM INVESTMENTS | NOTE 4. SHORT TERM INVESTMENTS The Company considers all investments including the spot silver and marketable securities that can and will be sold within one year to be short term investments. Achison Inc. operated a trading account in Wilson-Davis Company to trade U.S. equity securities and a trading account in Bullion Vault to trade spot silver and a Whisky trading account in the UK. Since those investments in the account can be sold online and can be traded anytime in near future as the Company's primary activity source, the Company treats the Wilson-Davis Company and Bullion Vault and Whisky trading account as short term investments assets. As of September 30, 2018, the Short Term Investment holdings were as follows: Bullion Property (kg) (Kg) Valuation in $(USD) Singapore Silver 2.64 $1,241 Totals: $1,241 Other Investments Valuation in $(USD) Equities - $37,794 Whisky Property (LPA) - $3,474 Start Engine Crowfunding Inc - $3,000 Totals: - $45,509 |
NOTE 5. STOCKHOLDERS EQUITY
NOTE 5. STOCKHOLDERS EQUITY | 6 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
NOTE 5. STOCKHOLDERS EQUITY | NOTE 5. STOCKHOLDER'S EQUITY The Company has authorized 99,900,000,000 shares of common stocks with a par value of 0.0000001 per share. There Company issued 99,900,000,0000 Class A common shares on August 25, 2017. On November 9, 2017, the Company had made a 1-for-10,000 reverse stock split. Therefore, there are currently 9,990,000 shares of common stocks outstanding as of September 30, 2018. In the period from April 1, 2018 to September 30, 2018, the Company didn't issue any stock types, options and warrants; the Company didn't have any share-based compensation, related to employee share-based awards, Tax benefit from share-based award activities. |
NOTE 6. RELATED PARTY TRANSACTI
NOTE 6. RELATED PARTY TRANSACTIONS | 6 Months Ended |
Sep. 30, 2018 | |
Related Party Transactions [Abstract] | |
NOTE 6. RELATED PARTY TRANSACTIONS | NOTE 6. RELATED PARTY TRANSACTIONS The Company has been provided office space by its majority stockholder at no cost. Management determined that such cost is nominal and did not recognize the rent expense in its financial statements. On November 21, 2016, Lansdale Inc. loaned $2,000 to Achison Inc. for working capital purposes. The Company's president, Mr. Wanjun Xie owns 40% of common stocks issued and outstanding of Lansdale Inc. and is also the president and CEO of that entity. It is a short term loan that bears no interest and will be paid back within 12 months. Since this is a short term loan, imputed interest need not be calculated as it is rendered immaterial. On April 25, 2018 Lansdale Inc. gifted 15,000 shares of SMKC to Achison Inc. On April 27, 2018 Lansdale Inc. gifted 20,000 shares of SMKC to Achison Inc. On August 29, 2018 Lansdale Inc. gifted 15,000 shares of SMKC to Achison Inc On September 04, 2018, Lansdale Inc., loaned an additional $5,000 to Lansdale Inc. bearing 10% interest. |
NOTE 2. SUMMARY OF SIGNIFICAN_2
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | a. Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The company was incorporated on December 29, 2014, and the Company started its operations to trade the spot gold and spot silver on March 29, 2016 through August 2017. Now the Company only trades in the spot silver in Singapore and U.S. equity securities. Additionally, the Company started to trade in Whisky in the UK markets starting September 30, 2018. These accompanying consolidated financial statements of the Company is for the period from April 01, 2018 to September 30, 2018, the subsidiary, Linton, Inc. was acquired on July 20, 2018 and Achison Inc. owns 86.27% of the company. |
Use of Estimates | b. Use of Estimates he preparation of financial statements in conformity with generally accepted accounting principles 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Income Taxes | c. Income Taxes The Company is responsible for paying federal, state and local income tax and, accordingly, provisions are made for income taxes. |
Basis of Measurement | d. Basis of measurement The financial statements have been prepared on the historical cost basis, except for the following material items in the statement of financial position: (a). All short-term investments including spot gold, spot silver and equity securities are considered Trading Securities (b). Short-term investments at fair value through gains or losses are measured at fair value |
Cash and Cash Equivalents | e. Cash and Cash Equivalents The financial statements are presented in US dollar, which is the Company's functional currency. Cash and cash equivalents include cash on hand; cash in banks and brokerage accounts and all highly liquid investments with maturity of three months or less at the time purchase. Cash in Bank and brokerage accounts $ 26,322. |
Revenue Recognition | f. Revenue Recognition The company recognizes capital gains and losses from the spot gold trading and the spot silver trading at the time it sells gold and silver from the trading in brokerage firms. With trading in crypto/digital currency, it recognizes capital gains when they are converted to USD. Additionally, it recognizes unrealized gains and losses through adjustments to the fair market value at the end of each period. The change in fair market value is reported on the income statement under "Revenues" - "Unrealized Gain (loss) from investments". |
NOTE 4. SHORT TERM INVESTMENTS
NOTE 4. SHORT TERM INVESTMENTS (Tables) | 6 Months Ended |
Sep. 30, 2018 | |
Investments, All Other Investments [Abstract] | |
Short term investments | Bullion Property (kg) (Kg) Valuation in $(USD) Singapore Silver 2.64 $1,241 Totals: $1,241 Other Investments Valuation in $(USD) Equities - $37,794 Whisky Property (LPA) - $3,474 Start Engine Crowfunding Inc - $3,000 Totals: - $45,509 |
NOTE 2. SUMMARY OF SIGNIFICAN_3
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | Sep. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2017 | Mar. 31, 2017 |
Accounting Policies [Abstract] | ||||
FDIC | $ 250,000 | |||
Cash in bank | $ 26,322 | $ 1,511 | $ 1,856 | $ 1,635 |
NOTE 4. SHORT TERM INVESTMENT_2
NOTE 4. SHORT TERM INVESTMENTS (Details) - USD ($) | 6 Months Ended | |
Sep. 30, 2018 | Mar. 31, 2018 | |
Short term investments | $ 45,509 | $ 8,280 |
Singapore Silver [Member] | ||
Short term investments | $ 1,241 | |
Bullion Property (kg) | 2.64 | |
Equities [Member] | ||
Short term investments | $ 37,794 | |
Whisky Property (LPA) [Member] | ||
Short term investments | 3,474 | |
Start Engine Crowfunding Inc [Member] | ||
Short term investments | 3,000 | |
Total Equities[Member] | ||
Short term investments | $ 45,509 |
NOTE 5. STOCKHOLDERS EQUITY (D
NOTE 5. STOCKHOLDERS EQUITY (Details Narrative) - $ / shares | 7 Months Ended | ||
Nov. 09, 2017 | Sep. 30, 2018 | Mar. 31, 2018 | |
Equity [Abstract] | |||
Common stock, par value | $ 0.001 | $ 0.001 | |
Common stock, Authorized | 9,990,000 | 9,990,000 | |
Reverse stock split | 1-for-10,000 |
NOTE 6. RELATED PARTY TRANSAC_2
NOTE 6. RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 1 Months Ended | 5 Months Ended | 6 Months Ended | ||||
Apr. 27, 2018 | Apr. 25, 2018 | Nov. 21, 2016 | Aug. 29, 2018 | Sep. 30, 2018 | Sep. 04, 2018 | Mar. 31, 2018 | |
Related Party Transactions [Abstract] | |||||||
Loan from related party | $ 2,000 | $ 2,000 | |||||
Ownership of company | 40.00% | ||||||
Additional paid-in-capital | $ 20,000 | $ 15,000 | $ 15,000 | 49,100 | |||
Notes Receivable | $ 28,200 | $ 5,000 | $ 16,000 |