Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Sep. 30, 2019 | Jan. 10, 2020 | |
Document And Entity Information | ||
Entity Registrant Name | Caro Holdings Inc. | |
Entity Central Index Key | 0001678105 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Emerging Growth Company | true | |
Entity Current Reporting Status | Yes | |
Document Period End Date | Sep. 30, 2019 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2020 | |
Entity Ex Transition Period | false | |
Entity Common Stock Shares Outstanding | 7,705,000 | |
EntityFileNumber | 333-212268 | |
EntityAddressAddressLine1 | 28th Floor Cityland Pasong Tamo Tower U2807 | |
EntityAddressAddressLine2 | 2210 Chino Roces Avenue (Pasong Tamo) | |
EntityAddressPostalZipCode | 1230 | |
EntityTaxIdentificationNumber | 333212268 | |
EntityAddressCityOrTown | Mkati City | |
LocalPhoneNumber | 8938909 | |
CityAreaCode | 632 | |
EntityAddressStateOrProvince | PHILIPPINES |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Sep. 30, 2019 | Mar. 31, 2019 |
Current Assets | ||
Cash and cash equivalents | $ 1,492 | $ 1,714 |
Prepaid expenses | 344 | 756 |
Total Current Assets | 1,836 | 2,470 |
TOTAL ASSETS | 1,836 | 2,470 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 11,986 | 13,573 |
Due to related party | 43,390 | 29,640 |
Total Current Liabilities | 55,376 | 43,213 |
TOTAL LIABILITIES | 55,376 | 43,213 |
Stockholders' Deficit | ||
Preferred stock: 75,000,000 authorized; $0.00001 par value. No shares issued and outstanding | ||
Common stock: 75,000,000 authorized; $0.00001 par value 7,705,000 shares issued and outstanding | 77 | 77 |
Additional paid in capital | 49,973 | 49,973 |
Accumulated deficit | (103,590) | (90,793) |
Total Stockholders' Deficit | (53,540) | (40,743) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 1,836 | $ 2,470 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - $ / shares | Sep. 30, 2019 | Mar. 31, 2019 |
Stockholders' Deficit | ||
Preferred stock, shares authorized | 75,000,000 | 75,000,000 |
Preferred stock, shares par value | $ 0.00001 | $ 0.00001 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares par value | $ 0.00001 | $ 0.00001 |
Common stock, shares issued | 7,705,000 | 7,705,000 |
Common stock, shares outstanding | 7,705,000 | 7,705,000 |
STATEMENTS OF OPERATIONS (Unaud
STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
STATEMENTS OF OPERATIONS (Unaudited) | ||||
Revenues | $ 100 | $ 100 | ||
Cost of Goods Sold | 36 | 36 | ||
Gross Profit | 64 | 64 | ||
Operating Expenses | ||||
General and administration | 9,285 | 9,227 | 12,797 | 15,539 |
Total operating expenses | 9,285 | 9,227 | 12,797 | 15,539 |
Net loss | $ (9,285) | $ (9,163) | $ (12,797) | $ (15,475) |
Net Loss Per Common Share - Basic and Diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted Average Common Shares Outstanding | 7,705,000 | 7,705,000 | 7,705,000 | 7,705,000 |
STATEMENTS OF CHANGES IN STOCKH
STATEMENTS OF CHANGES IN STOCKHOLDERS DEFICIT (Unaudited) - USD ($) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Defict [Member] |
Balance, shares at Mar. 31, 2018 | 7,705,000 | |||
Balance, amount at Mar. 31, 2018 | $ (12,429) | $ 77 | $ 49,973 | $ (62,479) |
Net Income (Loss) | $ (6,312) | $ (6,312) | ||
Balance, shares at Jun. 30, 2018 | 7,705,000 | |||
Balance, amount at Jun. 30, 2018 | $ (18,741) | $ 77 | $ 49,973 | $ (68,791) |
Net Income (Loss) | $ (9,163) | $ (9,163) | ||
Balance, shares at Sep. 30, 2018 | 7,705,000 | |||
Balance, amount at Sep. 30, 2018 | $ (27,904) | $ 77 | $ 49,973 | $ (77,954) |
Balance, shares at Mar. 31, 2019 | 7,705,000 | |||
Balance, amount at Mar. 31, 2019 | $ (40,743) | $ 77 | $ 49,973 | $ (90,793) |
Net Income (Loss) | $ (3,512) | $ (3,512) | ||
Balance, shares at Jun. 30, 2019 | 7,705,000 | |||
Balance, amount at Jun. 30, 2019 | $ (44,255) | $ 77 | $ 49,973 | $ (94,305) |
Net Income (Loss) | $ (9,285) | $ (9,285) | ||
Balance, shares at Sep. 30, 2019 | 7,705,000 | |||
Balance, amount at Sep. 30, 2019 | $ (53,540) | $ 77 | $ 49,973 | $ (103,590) |
STATEMENTS OF CASH FLOWS (Unaud
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 6 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Cash Flows from Operating Activities | ||
Net Loss | $ (12,797) | $ (15,475) |
Changes in operating assets and liabilities: | ||
Prepaid expenses | 412 | |
Accounts payable and accrued liabilities | 12,163 | 15,309 |
Deferred revenue | 500 | |
Net Cash Provided by (Used in) Operating Activities | (222) | 334 |
Net Increase (Decrease) in Cash and Cash Equivalents | (222) | 334 |
Cash and Cash Equivalents, beginning of period | 1,714 | 1,671 |
Cash and Cash Equivalents, end of period | 1,492 | 2,005 |
Supplemental Disclosure Information: | ||
Cash paid for interest | ||
Cash paid for taxes | ||
Non-Cash Investing and Financing Activities: | ||
Operating expenses paid by related party | 13,750 | 14,875 |
Inventory costs paid by related party | $ 36 |
ORGANIZATION AND DESCRIPTION OF
ORGANIZATION AND DESCRIPTION OF BUSINESS | 6 Months Ended |
Sep. 30, 2019 | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | |
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS | Caro Holdings Inc. (the “Company”) was incorporated in the State of Nevada on March 29, 2016 and is engaged in the subscription box business with its initial focus on offering sock subscriptions to its customers. |
GOING CONCERN UNCERTAINTY
GOING CONCERN UNCERTAINTY | 6 Months Ended |
Sep. 30, 2019 | |
GOING CONCERN UNCERTAINTY | |
NOTE 2 - GOING CONCERN UNCERTAINTY | As reflected in the accompanying financial statements, the Company has an accumulated deficit of $103,590, and a net loss of $12,797 for the six months ended September 30, 2019. The Company did not generate revenues during the six months ended September 30, 2019. These factors among others raise substantial doubt about our ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent on its ability to raise additional capital and implement its business plan. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management believes that the current actions to obtain additional funding and implement its strategic plans provide the opportunity for the Company to continue as a going concern. There are no assurances that additional funds will be available when needed from any source or, if available, will be available on terms that are acceptable to us. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Sep. 30, 2019 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Basis of Presentation The accompanying unaudited interim financial statements of the Company have been prepared in accordance with generally accepted accounting principles used in the United States of America (“US GAAP”) and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. This report should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended March 31, 2019 included in the Company’s Annual Report on Form 10-K as filed with the SEC on August 1, 2019. Related Parties We follow ASC 850, “Related Party Disclosures,” |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Sep. 30, 2019 | |
RELATED PARTY TRANSACTIONS | |
NOTE 4 - RELATED PARTY TRANSACTIONS | During the six months ended September 30, 2019 and September 30, 2018, the CEO of the Company paid $13,750 and $14,875 on behalf of the Company for business operation purpose, respectively. As of September The loan is non-interest bearing, due upon demand and unsecured. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (POLICIES) | 6 Months Ended |
Sep. 30, 2019 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation | The accompanying unaudited interim financial statements of the Company have been prepared in accordance with generally accepted accounting principles used in the United States of America (“US GAAP”) and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. This report should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended March 31, 2019 included in the Company’s Annual Report on Form 10-K as filed with the SEC on August 1, 2019. |
Related Parties | We follow ASC 850, “Related Party Disclosures,” |
ORGANIZATION AND DESCRIPTION _2
ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative) | 6 Months Ended |
Sep. 30, 2019 | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | |
State of incorporation | Nevada |
Date of incorporation | Mar. 29, 2016 |
GOING CONCERN UNCERTAINTY (Deta
GOING CONCERN UNCERTAINTY (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Mar. 31, 2019 | |
GOING CONCERN UNCERTAINTY | |||||
Accumulated deficit | $ (103,590) | $ (103,590) | $ (90,793) | ||
Net Loss | $ (9,285) | $ (9,163) | $ (12,797) | $ (15,475) |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 6 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Mar. 31, 2019 | |
Due to related party | $ 43,390 | $ 29,640 | |
Sole Director and CEO [Member] | |||
Repayment of related party debt | $ 13,750 | $ 14,875 |