Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Apr. 30, 2019 | Aug. 07, 2019 | Oct. 31, 2018 | |
Document And Entity Information | |||
Entity Registrant Name | GLOBAL HOUSE HOLDINGS LTD. | ||
Entity Central Index Key | 0001673475 | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --04-30 | ||
Entity Well Known Seasoned Issuer | No | ||
Entity Small Business | true | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | true | ||
Entity Current Reporting Status | Yes | ||
Document Period End Date | Apr. 30, 2019 | ||
Entity Filer Category | Non-accelerated Filer | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2019 | ||
Entity Ex Transition Period | false | ||
Entity Common Stock Shares Outstanding | 111,800,000 | ||
Entity Public Float | $ 10,360,000 |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Apr. 30, 2019 | Apr. 30, 2018 |
Current Assets: | ||
Prepaid expenses | $ 20,358 | $ 403 |
Total Current Assets | 20,358 | 403 |
TOTAL ASSETS | 20,358 | 403 |
Current Liabilities: | ||
Accounts payable and accrued liabilities | 11,477 | 1,760 |
Due to related party | 72,268 | 21,218 |
Total Current Liabilities | 83,745 | 22,978 |
Total Liabilities | 83,745 | 22,978 |
Stockholders' Deficit: | ||
Common stock, $0.001 par value, 1,500,000,000 shares authorized 111,800,000 shares issued and outstanding | 111,800 | 111,800 |
Additional paid-in capital (deficiency) | (83,737) | (83,737) |
Accumulated deficit | (91,450) | (50,638) |
Total Stockholders' Deficit | (63,387) | (22,575) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 20,358 | $ 403 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - $ / shares | Apr. 30, 2019 | Apr. 30, 2018 |
Stockholders' Deficit | ||
Common stock, shares par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 1,500,000,000 | 1,500,000,000 |
Common stock, shares issued | 111,800,000 | 111,800,000 |
Common stock, shares outstanding | 111,800,000 | 111,800,000 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
STATEMENTS OF OPERATIONS | ||
Revenues | ||
Operating Expenses | ||
General and administrative | 40,812 | 47,731 |
Total Operating Expenses | 40,812 | 47,731 |
Loss from operations | (40,812) | (47,731) |
Net Loss | $ (40,812) | $ (47,731) |
Net Loss Per Common Share: Basic and Diluted | $ 0 | $ 0 |
Weighted Average Number of Common Shares Outstanding: Basic and Diluted | 111,800,000 | 142,868,493 |
STATEMENTS OF CHANGES IN STOCKH
STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) | Total | Common stock Shares | Additional paid-in capital deficiency | Accumulated Deficit |
Balance, Shares at Apr. 30, 2017 | 251,800,000 | |||
Balance, Amount at Apr. 30, 2017 | $ 32,993 | $ 251,800 | $ (215,900) | $ (2,907) |
Common shares cancelled, Shares | (140,000,000) | |||
Common shares cancelled, Amount | $ (140,000) | 140,000 | ||
Forgiveness of related party loans | 2,247 | 2,247 | ||
Fixed assets transferred to previous sole officer and director | (10,084) | (10,084) | ||
Net loss for the period | (47,731) | (47,731) | ||
Balance, Shares at Apr. 30, 2018 | 111,800,000 | |||
Balance, Amount at Apr. 30, 2018 | (22,575) | $ 111,800 | (83,737) | (50,638) |
Net loss for the period | (40,812) | (40,812) | ||
Balance, Shares at Apr. 30, 2019 | 111,800,000 | |||
Balance, Amount at Apr. 30, 2019 | $ (63,387) | $ 111,800 | $ (83,737) | $ (91,450) |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (40,812) | $ (47,731) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 616 | |
Changes in operating assets and liabilities: | ||
Prepaid expenses | (19,955) | (395) |
Accounts payable and accrued liabilities | 9,717 | 1,760 |
Net cash used in Operating Activities | (51,050) | (45,750) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of property, plant and equipment | (5,100) | |
Net cash used in Investing Activities | (5,100) | |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Repayment of debt to previous sole shareholder | (96) | |
Proceeds from loan from shareholders | 51,050 | 21,218 |
Net cash provided by Financing Activities | 51,050 | 21,122 |
Net cash decrease for period | (29,728) | |
Cash at beginning of period | 29,728 | |
Cash at end of period | ||
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid for income taxes | ||
Cash paid for interest | ||
NON CASH INVESTING AND FINANCING ACTIVITIES | ||
Cancellation of common shares | 140,000 | |
Net assets transferred to previous sole shareholder | 10,084 | |
Forgiveness of related party loans | $ 2,247 |
ORGANIZATION AND BASIS OF PRESE
ORGANIZATION AND BASIS OF PRESENTATION | 12 Months Ended |
Apr. 30, 2019 | |
ORGANIZATION AND BASIS OF PRESENTATION | |
NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION | GLOBAL HOUSE HOLDINGS LTD. (the Company) is a corporation established under the corporation laws in the State of Nevada on March 29, 2016. The Companys activities are subject to significant risks and uncertainties including failure to secure additional funding to properly execute the Companys business plan. On April 2, 2018, the Company approved an agreement and plan of merger for the purposes of changing our corporate name from Koldeck Inc. to Global House Holdings Ltd. Pursuant to the agreement and plan of merger, our company merged with our wholly-owned subsidiary Global House Holdings Ltd., a Nevada corporation. Koldeck Inc. remained the surviving company of the merger, continuing under the name Global House Holdings Ltd. The name change, as well as a 20:1 forward stock split, was approved by FINRA and effective April 3, 2018 (Note 4). Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Companys year-end is April 30. |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Apr. 30, 2019 | |
GOING CONCERN | |
NOTE 2 - GOING CONCERN | The Company's financial statements as of April 30, 2019 have been prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplate the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The Company has incurred a cumulative net loss from of $91,450. These factors among others raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Managements plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Apr. 30, 2019 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Use of Estimates Preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from managements estimates and assumptions. Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. At April 30, 2019 and 2018, the Company's did not have any cash. Financial Instruments The Companys 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 Loss per Share Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. The Company had no potentially dilutive instruments outstanding during the periods presented. New Accounting Pronouncements There were various accounting standards and interpretations issued recently, none of which have or are expected to a have a material impact on our financial position, operations or cash flows. |
CAPITAL STOCK
CAPITAL STOCK | 12 Months Ended |
Apr. 30, 2019 | |
CAPITAL STOCK | |
NOTE 4 - CAPTIAL STOCK | As of April 30, 2019 and 2018, the Company had 111,800,000 shares of common stock issued and outstanding. The company has not authorized or designated any preferred stock. On July 20, 2017, the sole officer and director of the Company returned and cancelled 140,000,000 common shares. On October 26, 2017, our Board of Directors approved a forward stock split of the issued and authorized shares of common stock on the basis of 20 new shares for one (1) old share. The forward stock split was effective April 3, 2018 and resulted in the increase of our authorized capital from 75,000,000 shares of common stock to 1,500,000,000 shares of common stock. The issued and outstanding capital increased from 5,590,000 shares of common stock to 111,800,000 shares of common stock. The $0.001 par value of our common shares remains unchanged. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Apr. 30, 2019 | |
RELATED PARTY TRANSACTIONS | |
NOTE 5 - RELATED PARTY TRANSACTIONS | In support of the Company's efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by officers, directors, or shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note. During the years ended April 30, 2019 and April 30, 2018, the Company's sole officer and director loaned the Company $51,050 and $21,218, respectively, to pay for operating expenses. The amounts are non-interest bearing and due on demand. As of April 30, 2019 and 2018, $72,268 and $21,218, respectively, is outstanding. |
PREPAID EXPENSES
PREPAID EXPENSES | 12 Months Ended |
Apr. 30, 2019 | |
PREPAID EXPENSES | |
NOTE 6 - PREPAID EXPENSES | Prepaid expenses relate to prepayment made for future services in advance and will be expensed over time as the benefit of the services is received in the future, expected within one year. Prepaid expenses consisted of the following at April 30, 2019 and 2018: April 30, April 30, 2019 2018 Legal Fees $ 20,358 $ - Transfer Agent Fees - 403 $ 20,358 $ 403 |
INCOME TAX
INCOME TAX | 12 Months Ended |
Apr. 30, 2019 | |
INCOME TAX | |
NOTE 7 - INCOME TAX | The Company provides for income taxes under ASC 740, Income Taxes. On December 22, 2017, the United States enacted the Tax Cuts and Jobs Act (the Act) resulting in significant modifications to existing law. The Company has considered the accounting impact of the effects of the Act during the year ended April 30, 2018 including a reduction in the corporate tax rate from 34% to 21% among other changes. The components of the Company's deferred tax asset and reconciliation of income taxes computed at the new statutory rate of 21% to the income tax amount recorded as of April 30, 2019 and 2018 are as follows: April 30, April 30, 2019 2018 Net operating loss carryforward $ (91,450 ) $ (50,638 ) Effective tax rate 21 % 21 % Deferred tax asset (19,205 ) (10,634 ) Less: Valuation allowance 19,205 10,634 Net deferred asset $ - $ - The change in the valuation allowance during the years ended April 30, 2018 and 2017 was $8,571 and $ 9,646, respectively. The effect of the change in the tax rate from 34% to 21% was a decrease in the deferred tax assets of $0 and $6,205 for the years ended April 30, 2019 and 2018, respectively. As of April 30, 2019, the Company had $91,450 in net operating losses (NOLs) that may be available to offset future taxable income. 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 2016 through 2019 are subject to review by the tax authorities. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Apr. 30, 2019 | |
SUBSEQUENT EVENTS | |
NOTE 8 - SUBSEQUENT EVENTS | Management has evaluated subsequent events through the date these financial statements were issued. Based on our evaluation, no material subsequent events have occurred that require disclosure. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Apr. 30, 2019 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | |
Use of Estimates | Preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from managements estimates and assumptions. |
Cash and Cash Equivalents | For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. At April 30, 2019 and 2018, the Company's did not have any cash. |
Financial Instruments | 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 Loss Per Share | Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. The Company had no potentially dilutive instruments outstanding during the periods presented. |
New Accounting Pronouncements | There were various accounting standards and interpretations issued recently, none of which have or are expected to a have a material impact on our financial position, operations or cash flows. |
PREPAID EXPENSES (Tables)
PREPAID EXPENSES (Tables) | 12 Months Ended |
Apr. 30, 2019 | |
PREPAID EXPENSES (Tables) | |
Schedule of Prepaid expenses | Prepaid expenses consisted of the following at April 30, 2019 and 2018: April 30, April 30, 2019 2018 Legal Fees $ 20,358 $ - Transfer Agent Fees - 403 $ 20,358 $ 403 |
INCOME TAX (Tables)
INCOME TAX (Tables) | 12 Months Ended |
Apr. 30, 2019 | |
INCOME TAX (Tables) | |
Schedule of deferred tax assets | The components of the Companys deferred tax asset and reconciliation of income taxes computed at the new statutory rate of 21% to the income tax amount recorded as of April 30, 2019 and 2018 are as follows: April 30, April 30, 2019 2018 Net operating loss carryforward $ (91,450 ) $ (50,638 ) Effective tax rate 21 % 21 % Deferred tax asset (19,205 ) (10,634 ) Less: Valuation allowance 19,205 10,634 Net deferred asset $ - $ - |
ORGANIZATION AND BASIS OF PRE_2
ORGANIZATION AND BASIS OF PRESENTATION (Details Narrative) | Apr. 03, 2018 | Apr. 30, 2019 |
ORGANIZATION AND BASIS OF PRESENTATION (Details Narrative) | ||
State of Incorporation | Nevada | |
Date of incorporation | Mar. 29, 2016 | |
Forward stock split | 20:1 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Apr. 30, 2019 | Apr. 30, 2018 |
GOING CONCERN | ||
Accumulated deficit | $ (91,450) | $ (50,638) |
CAPITAL STOCK (Details Narrativ
CAPITAL STOCK (Details Narrative) - $ / shares | Apr. 03, 2018 | Oct. 26, 2017 | Apr. 30, 2019 | Apr. 30, 2018 | Jul. 20, 2017 |
Common stock, authorized | 1,500,000,000 | 1,500,000,000 | |||
Common stock, shares issued | 111,800,000 | 111,800,000 | |||
Common stock, shares outstanding | 111,800,000 | 111,800,000 | |||
Description of forward stock split | 20:1 | ||||
Common stock, par value | $ 0.001 | $ 0.001 | |||
Director [Member] | |||||
Common stock, shares cancelled | 140,000,000 | ||||
Board of Directors [Member] | |||||
Description of forward stock split | a forward stock split of the issued and authorized shares of common stock on the basis of 20 new shares for one (1) old share. | ||||
Common stock, par value | $ 0.001 | ||||
Forward stock split effective date | Apr. 3, 2018 | ||||
Pre split [Member] | |||||
Common stock, authorized | 75,000,000 | ||||
Common stock, shares issued | 5,590,000 | ||||
Common stock, shares outstanding | 5,590,000 | ||||
Post split [Member] | |||||
Common stock, authorized | 1,500,000,000 | ||||
Common stock, shares issued | 111,800,000 | ||||
Common stock, shares outstanding | 111,800,000 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 12 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Due to related party | $ 72,268 | $ 21,218 |
Proceeds from loan from shareholders | 51,050 | 21,218 |
Sole Officer and Director [Member] | ||
Proceeds from loan from shareholders | $ 51,050 | $ 10,000 |
PREPAID EXPENSES (Details)
PREPAID EXPENSES (Details) - USD ($) | 12 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
PREPAID EXPENSES (Details) | ||
Legal Fees | $ 20,358 | |
Transfer Agent Fees | 403 | |
Prepaid expenses | $ 20,358 | $ 403 |
INCOME TAX (Details)
INCOME TAX (Details) - USD ($) | 12 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
INCOME TAX | ||
Net operating loss carryforward | $ (91,450) | $ (50,638) |
Effective tax rate | 21.00% | 21.00% |
Deferred tax asset | $ (19,205) | $ (10,634) |
Less: Valuation allowance | 19,205 | 10,634 |
Net deferred asset |
INCOME TAX (Details Narrative)
INCOME TAX (Details Narrative) - USD ($) | 12 Months Ended | ||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2017 | |
INCOME TAX | |||
Net operating losses | $ 91,450 | ||
Change in valuation allowance | $ 8,571 | $ 9,646 | |
Decrease in deferred tax assets due to change in tax rate | $ 6,205 |