Brilliant N.e.v. (CCYC) 10-K/A 11 Oct 22 2021 FY Annual report (amended) Financial data

Cover

Cover - USD ($)	12 Months Ended
	Jul. 31, 2021	Oct. 01, 2021	Jan. 31, 2021
Cover [Abstract]
Document Type	10-K/A
Amendment Flag	true
Amendment Description	This Form 10-K/A amends and restates in its entirety the Annual Report on Form 10-K of Clancy Corp. for the fiscal year ended July 31, 2021 (the “Original Filing”), as filed with the Securities and Exchange Commission (“Commission”) on November 12, 2021 and Amendment No. 1 and Amendment No. 2 to the Original Filing filed with the Commission on December 14, 2021 and September 13, 2022, respectively. This revision is in response to a Comment Letter from the staff of the Commission. This revision incorporates (i) a revised audit opinion from Jack Sharma CPA and (ii) revised Exhibit 31.1 certification.   Except as described above, no other changes have been made to the Original Filing, and this Form 10-K/A does not modify, amend or update in any other way any other of the financial or other information contained in the Original Filing. This Form 10-K/A does not reflect events that may have occurred subsequent to the filing date of the Original Filing.
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Jul. 31, 2021
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--07-31
Entity File Number	333-213698
Entity Registrant Name	CLANCY CORP.
Entity Central Index Key	0001681769
Entity Tax Identification Number	30-0944559
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	2nd Floor, BYD
Entity Address, Address Line Two	No. 56, Dongsihuan South Road
Entity Address, Address Line Three	Chaoyang District
Entity Address, City or Town	Beijing
Entity Address, Country	CN
Entity Address, Postal Zip Code	100023
Country Region	+86
City Area Code	189
Local Phone Number	1098-4577
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	true
Entity Public Float			$ 261,457,749
Entity Common Stock, Shares Outstanding		153,105,464
Documents Incorporated by Reference [Text Block]	None
Auditor Name	Morison Cogen LLP
Auditor Location	Blue Bell, Pennsylvania
Auditor Firm ID	536

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jul. 31, 2021	Jul. 31, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 54,375	$ 21,821
Prepaid expenses	15,260	7,677
Business advances		81,324
Total current assets	69,635	110,822
OTHER ASSETS
Prepaid expenses		38,571
Deposit	14,860	13,714
Operating lease right of use – building	112,515	155,602
TOTAL ASSETS	197,010	318,709
CURRENT LIABILITIES:
Accounts payable	30,385	587
Contract liabilities		14,143
Advances - related party	222,738	263,037
Operating lease liability – current	72,648	11,044
TOTAL CURRENT LIABILITIES	325,771	288,811
Operating lease liability – non-current	3,292	110,567
TOTAL LIABILITIES	329,063	399,378
Commitments and Contingencies
STOCKHOLDERS’ DEFICIT
Common Stock, 0.001 par value, authorized 345,000,000  shares, 153,105,464 and 3,105,250 shares issued and outstanding as of July 31, 2021 and July 31, 2020	153,105	3,105
Additional paid in capital	213,251	63,251
Accumulated other comprehensive income (loss)	(2,489)
Accumulated deficit	(495,921)	(147,025)
TOTAL STOCKHOLDERS’ DEFICIT	(132,054)	(80,669)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$ 197,010	$ 318,709

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jul. 31, 2021	Jul. 31, 2020
Statement of Financial Position [Abstract]
Common Stock, Par Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	345,000,000	345,000,000
Common Stock, Shares, Issued	153,105,464	3,105,250
Common Stock, Shares, Outstanding	153,105,464	3,105,250

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Income Statement [Abstract]
Revenues	$ 24,681
Revenues – related party	20,567
Total revenues	45,248
Cost of goods sold	17,368
Gross profit (loss)	27,880
EXPENSES
Research and development expenses	213,535
General and administrative Expenses	163,608	79,517
TOTAL OPERATING EXPENSES	377,143	79,517
NET LOSS FROM OPERATIONS	(349,263)	(79,517)
OTHER INCOME (EXPENSES)
Interest income	368
Net loss before tax	(348,895)	(79,517)
Provision for income taxes
NET LOSS	(348,895)	(79,517)
OTHER COMPREHENSIVE ITEM
Foreign currency translation loss	(2,489)
COMPREHENSIVE LOSS	$ (351,384)	$ (79,517)
NET LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS - BASIC & DILUTED	$ 0	$ (0.03)
NET LOSS PER COMMON SHARE FROM DISCONTINUED OPERATIONS - BASIC & DILUTED
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC & DILUTED	93,516,423	3,105,250

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' DEFICIT - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Comprehensive Income [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Jul. 31, 2019	$ 3,105	$ 63,251		$ (67,508)	$ (1,152)
Beginning balance, Shares at Jul. 31, 2019	3,105,250
Net Loss				(79,517)	(79,517)
Ending balance, value at Jul. 31, 2020	$ 3,105	63,251		(147,025)	(80,669)
Ending balance, Shares at Jul. 31, 2020	3,105,250
Rounding of shares due to stock split, Shares	214
Shares issued	$ 150,000	150,000			300,000
Shares Issued, Shares	150,000,000
Currency translation			(2,489)		(2,489)
Net Loss				(348,895)	(348,895)
Ending balance, value at Jul. 31, 2021	$ 153,105	$ 213,251	$ (2,489)	$ (468,070)	$ (132,054)
Ending balance, Shares at Jul. 31, 2021	153,105,464

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
OPERATING ACTIVITIES
Net Loss	$ (348,895)	$ (79,517)
Adjustments to reconcile net cash used in operating activities:
Amortization	10,581	5,670
Decrease in assets:
Change in prepaid expenses	24,454	(85,909)
Changes in deposit		(13,714)
Increase in liabilities:
Accounts payable	29,312	587
Increase in contract liabilities	(15,083)	14,143
Total Net Cash Used by Operating Activities	(299,631)	(158,740)
FINANCING ACTIVITIES:
Business advances	86,728	(81,324)
Proceeds from shares issued	300,000
Proceeds from Advances Related Party	(55,458)	261,885
Total Net Cash Provided by Financing Activities	331,270	180,561
EFFECT OF EXCHANGE RATE CHANGE ON CASH	914
NET INCREASE (DECREASE) IN CASH	32,553	21,821
CASH AT BEGINNING OF YEAR	21,821
CASH AT END OF YEAR	54,375	21,821
Supplemental Cash flow Information:
Interest Paid
Taxes Paid
Supplemental Disclosure of Non Cash Lease Activity:
Recognition of Right of use asset		169,173
Recognition of Lease liability		$ (169,173)

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	12 Months Ended
	Jul. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF BUSINESS	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Clancy Corp. was incorporated on March 22, 2016 under the laws of the State of Nevada, USA. Clancy Corp. initially was formed for the purpose of producing and selling handcrafted soaps. Clancy Corp. and its wholly owned subsidiary are collectively, except where content requires, referred to as the “Company” Effective June 28, 2019 (“Effective Date”), a change of control occurred with respect to the Company. Pursuant to the terms of Stock Purchase Agreement, Gaoyang Liu purchased 2,000,000 shares of the Company’s issued and outstanding common stock from Iryna Kologrim, the then sole officer, director, and majority shareholder of the Company. The 2,000,000 shares represented 64.4% of the shares of outstanding common stock of the Company. In connection with the transaction, Mr. Liu became the sole officer and director of the Company and Ms. Kologrim resigned in all capacities with respect to the Company. In connection with the change of control, the Company ceased its business operations and is now a “shell company” as defined under Rule 405 promulgated under the Securities Act of 1933, as amended. It also assigned all assets to Iryna Kologrim, the then sole officer, director, and majority shareholder of the Company in exchange for a waiver of all labilities owed to her by the Company. On January 15, 2020, the Company filed a Certificate of Amendment to Articles of Incorporation with the Nevada Secretary of State which effectuated the following corporate actions: ● the forward split of the Company’s issued and outstanding common stock, $0.001 par value, on thirty (30) post-split shares for a one (1) pre-split share basis applicable to stockholders of record as of January 2, 2020 ● The increase of the Company’s authorized shares of common stock, $0.001 par value, from 75,000,000 345,000,000 The above corporate actions were adopted by written consent of our sole Director on January 2, 2020, and the sole Director recommended the Corporate Actions be presented to our shareholders for approval. On January 3, 2020, our majority stockholder, holding 64.4% of our outstanding voting securities executed written consent approving the stated corporate actions. For purposes of the forward stock split described above, the sole Director also set January 2, 2020 as the record date of such action. On March 31, 2020, a change of control occurred with respect to the Company. Pursuant to a Stock Purchase Agreement entered into by and among the Clancy Corp., Gaoyang Liu (“Seller”), and Xiangying Meng (“Buyer”), Seller assigned, transferred and conveyed to Buyer 60,000,000 shares of common stock of Company (“ Common Stock Clancy Corp. has registered a wholly foreign-owned entity in Shanghai, China on April 13, 2020. Its name is Shanghai Clancy Enterprise Management Co., Ltd. (Shanghai Clancy). Shanghai Clancy had no business activity from inception through July 31, 2020. The main business scope is business management consulting, business information consulting, marketing planning, cultural and art exchange planning consulting (except performance brokers, business performances), corporate image planning, conference services and exhibition and display services. Shanghai Clancy registered a wholly-owned subsidiary in Beijing on April 24, 2020. Its name is Beijing Clancy Information Technology Co., Ltd. (Beijing Clancy). The main business scope is technology development, transfer, consultation, services and promotion. On July 6, 2020, the Nevada Secretary of State approved the Company’s Certificate of Amendment to Articles of Incorporation with which effectuated the following corporate action: ● the reverse split of the Company’s issued and outstanding common stock, $0.001 par value, on thirty (30) pre-split shares to one (1) post-split share basis. Fractional shares resulting from the action will be rounded up to the nearest whole share. The above corporate action was adopted by written consent of our sole Director on June 11, 2020, and the sole Director recommended the corporate action be presented to our shareholders for approval. For purposes of the reverse stock split described above, the sole Director also set June 12, 2020 as the record date of such action. On June 12, 2020, our majority stockholder, holding 91.88% of our outstanding voting securities, executed written consent in lieu of a shareholder meeting approving the corporate action. All shares disclosed in the financial statements and notes to the financial statements have been retroactively adjusted for the 30 for 1 reverse split. From August 1, 2020 to April 30, 2021, the Company business centered on providing IT services to a small number of clients. Beginning in May 2021, the Company terminated its IT services and re-focused its business operations to business consulting services to small and median sized businesses. Management believes their prior business experience will enable them to assist small and medium sized companies improve their operating efficiencies. The Company will charge its clients based on their performance. Management believes the new business model will reduce internal overhead costs and potentially provide a larger market for its services.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Jul. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 2 – GOING CONCERN The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. Although Beijing Clancy started business operation and had generated revenue for the YEAR ended July 31, 2021, the Company incurred loss, an accumulated deficit and experienced negative cash flow from operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Mr. Meng, the major stockholder, Chief Executive Officer and sole director of Company, verbally has agreed to provide continued financial support to the Company. The Company’s business objective for the next twelve month and beyond such time will be to expand business operations and increase revenue. The Company will focus on product management, digital marketing, refined user operations, performance optimization, after-sales service, etc. to provide customers with more convenient and high- quality service experience. The Covid-19 pandemic presents novel challenges and a chaotic business environment globally. The duration and intensity of the impact of the Covid-19 to business entities differ geographically. Covid-19 has a limited impact on the Company’s activities since Shanghai Clancy has no activities and Beijing Clancy operations are limited to Beijing, PRC. The impact on the Company’s result of operation and the financial statements was immaterial as of July 31, 2021.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jul. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION The consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and include the accounts of Clancy Corp. and its wholly owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation. Fiscal year end The Company’s year end is July 31 st 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Cash and Cash Equivalents Cash and cash equivalents consist of all cash balances and highly liquid investments with original maturities of three months or less. Because of short maturity of these investments, the carrying amounts approximate their fair values. Concentration of Credit Risk The Company is exposed to credit risk in the normal course of business, primarily related to cash and cash equivalents. A portion of the Company’s cash and cash equivalents are deposited with Industrial and Commercial Bank of China Limited and Pingan Bank in the PRC, which is not insured or otherwise protected. The Company had deposits of $ 51,486 Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities in the consolidated balance sheets. Finance leases are included in finance lease ROU assets and finance lease liabilities in the consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease and finance lease ROU assets and liabilities recognized at July 31, 2021 and 2020 based on the present value of lease payments over the lease term discounted using the rate implicit in the lease. In cases where the implicit rate is not readily determinable, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has elected not to recognize operating lease ROU assets and liabilities arising from short-term leases. Reporting Currency and Translation The financial statements of the Company’s foreign subsidiaries are measured using the local currency, Renminbi (“RMB”), as the functional currency; whereas the functional currency of Clancy Corp. and reporting currency of the Company is the United States dollar (“USD” or “$”). The Company has operations in China where the local currency of RMB is used to prepare the financial statements which are translated into the Company’s reporting currency, U.S. dollars. The local currency of RMB is the functional currency for the operations outside the United States. Changes in the exchange rates between this currency and the Company’s reporting currency, are partially responsible for some of the periodic changes in the consolidated financial statements. Assets and liabilities of the Company’s foreign operations are translated into U.S. dollars at the spot rate in effect at the applicable reporting date. Revenues and expenses of the Company’s foreign operations are translated at the average exchange rate during the applicable period. The resulting unrealized cumulative translation adjustment is recorded as a component of accumulated other comprehensive income (loss) in stockholders’ deficit. Realized and unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entity are recorded in general and administrative expense in the period in which they occur. For the years ended July 31, July 31, 2021 and 2020 there were no realized or unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entities. The exchange rates used to translate amounts in RMB to USD for the purposes of preparing the consolidated financial statements were as follows: Schedule of exchange rates July 31, 2021 July 31, 2020 Period end USD: RMB exchange rate 6.46 7.00 Average USD: RMB exchange rate 6.56 7.04 Foreign Operations All of the Company’s operations and assets are located in Beijing China. The Company may be adversely affected by possible political or economic events in this country. The effect of these factors cannot be accurately predicted. Contract Liabilities On July 29, 2020, the Company entered into three-year service maintenance agreements with three customers. The three service maintenance agreements total 1,188,000 RMB to be received over the three-year period. The contracts require three months of upfront payments each quarter, totaling 99,000 RMB per quarter. The Company’s performance obligation will be satisfied on a monthly basis and the upfront payments will be recognized as revenue, pro rata on a monthly basis, over each fiscal quarter. For the year ended July 31, 2021, the company recognized revenue of $45,248. Including revenues of $20,567 from related parties. There were no revenues for the year ended July 31, 2020. One of the service maintenance agreements is with a company that is controlled by a supervising officer of Beijing Clancy and thus is deemed to be a related party. The total value of this service maintenance agreement is 540,000 RMB, payable quarterly with upfront quarterly payments of 45,000 RMB. The Company recently determined to re-focus is business strategy and direction. As a result, the Company has ceased its IT service maintenance agreements with its customers effective April 30, 2021 and re-focused its business operations to business consulting services to small and median sized businesses. Management believes their prior business experience will enable them to assist small and medium sized companies improve their operating efficiencies. The Company will charge its clients based on their performance. Management believes the new business model will reduce internal overhead costs and potentially provide a larger market for its services. Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260 ”Earnings per Share”. Basic (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted income (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. As of July 31, 2021, and 2020, there were no potentially dilutive equity instruments issued or outstanding. Comprehensive Income The Company follows Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) 220, “Comprehensive Income,” in reporting comprehensive income. Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income. The Company has one item of other comprehensive income, consisting of a foreign translation adjustment; however, the translation adjustment was immaterial for the years ending July 31, 2021 and 2020. Financial Instruments The carrying value of the Company’s short-term financial instruments, such as accounts payable and advances, approximates their fair values because of their short maturities. Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options. Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ASU NO. 2016-02 “Leases (Topic 842)” As of July 31, 2021, there are no recently issued accounting standards not yet adopted which would have a material effect on the Company’s consolidated financial statements.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Jul. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 4 – COMMITMENTS AND CONTINGENCIES The Company had entered into a one-year rental agreement for a $300 monthly fee, starting on September 1, 2016. Leased Premise with the area of 40 square meters is located at str. Vizantiou 28, Strovolos, Lefkosia, Cyprus, 2006. This premise is used as a manufacturing area. The Company extended the lease agreement until September 1, 2019. The Company paid $0 for rent for the year ended July 31, 2020. The lease terminated as of September 1, 2019. On October 19, 2017 the Company entered into a five-year rental agreement for a $540 monthly fee, starting on November 1, 2017. Leased Premise with the area of 74 square meters is located at 8 Stasinou Ave, Lefkosia 1060, Nicosia, Cyprus. The Company paid $0 for rent for the year ended July 31, 2021 and 2020. Due to the adoption of the new lease standard under the optional transition method which allows the entity to apply the new lease standard at the adoption date, the Company has capitalized the present value of the minimum lease payments commencing August 1, 2019, using an estimated incremental borrowing rate of 6%. The minimum lease payments do not include common area annual expenses which are considered to be non-lease components. As of August 1, 2019, the operating lease right-of-use asset and operating lease liability amounted to $17,951 with no cumulative-effect adjustment to the opening balance of accumulated deficit. On May 26, 2020, the Company entered into a three-year rental agreement for a 32,000 RMB per month. The office is located on the second floor of BYD 4S shop, No 56, Dongsihuan South Road, Chaoyang District, Beijing. At inception, the Company pre-paid the first year along with a 3 month deposit. Due to the adoption of the new lease standard under the optional transition method which allows the entity to apply the new lease standard at the adoption date, the Company has capitalized the present value of the minimum lease payments commencing August 1, 2019, using an estimated incremental borrowing rate of 6%. The minimum lease payments do not include common area annual expenses which are considered to be non-lease components. There are no other material operating leases. The Company has elected not to recognize right-of-use assets and lease liabilities arising from short-term leases. Future minimum lease payments under the operating lease as of July 31, 2021 are: Schedule of Future Minimum Lease Payment 2022 $ 78,881 2023 1,620 2024 - Total Lease payments 80,501 Less Imputed Interest (4,560 ) Net Lease liability $ 75,940 Total lease expense under operating leases for the year ended July 31, 2021 and 2020 were 65,921 8,947 As of July 31, 2021 and 2020, the total operating lease Right of Use assets were $ 112,515 155,602

BUSINESS ADVANCES

BUSINESS ADVANCES	12 Months Ended
	Jul. 31, 2021
Business Advances
BUSINESS ADVANCES	NOTE 5 – BUSINESS ADVANCES During the three months ended July 31, 2020, the Company made business advances totaling $ 81,324

ADVANCES FROM RELATED PARTIES

ADVANCES FROM RELATED PARTIES	12 Months Ended
	Jul. 31, 2021
Related Party Transactions [Abstract]
ADVANCES FROM RELATED PARTIES	NOTE 6 – ADVANCES FROM RELATED PARTIES Immediately prior to June 28, 2019, the Company’s then sole officer and director had a loan outstanding to the Company in the amount of $23,334. This loan was unsecured, non-interest bearing and due on demand. As part of change of control transaction which occurred on June 28, 2019, the outstanding balance was forgiven and written off. As a result, the balance due to this former officer and director was $0 as of July 31, 2019. On that same date (June 28, 2019), the Company also assigned all assets and liabilities to the former officer and director of the Company. In connection with this change of control, the Company ceased its business operations and is now a “shell company” as defined under Rule 405 promulgated under the Securities Act of 1933, as amended. On March 31, 2020, Mr. Meng purchased a controlling interest in the Company and was assigned the rights and interest to the advances made to the company by the then former majority stockholder, Mr. Gaoyang Liu. Since the ownership change, Mr. Meng, the new officer and director, has been funding the Company’s operations. As of July 31, 2021 and 2020, the Company owed Mr. Meng $ 222,738 263,037

RESEARCH AND DEVELOPMENT EXPENS

RESEARCH AND DEVELOPMENT EXPENSE	12 Months Ended
	Jul. 31, 2021
Research And Development Expense
RESEARCH AND DEVELOPMENT EXPENSE	NOTE 7 - RESEARCH AND DEVELOPMENT EXPENSE As of July 31, 2021, the Company fully expensed the cost of development of software prepaid to a third party in the amount of $ 41,135 213,535

GENERAL AND ADMINISTRATIVE EXPE

GENERAL AND ADMINISTRATIVE EXPENSES (G&A)	12 Months Ended
	Jul. 31, 2021
General And Administrative Expenses
GENERAL AND ADMINISTRATIVE EXPENSES (G&A)	NOTE 8 – GENERAL AND ADMINISTRATIVE EXPENSES (G&A) The general and administrative expenses contain the following: Schedule of General and Administrative Expenses For the year ended Description 2021 2020 Payroll and payroll tax expenses $ 54,278 Professional fees 32,859 61,044 Lease expenses 65,921 5,670 Other G&A 10,551 12,803 Total $ 163,608 $ 79,517

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jul. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 9 – INCOME TAXES The Company utilizes the asset and liability method of accounting for income taxes in accordance with FASB ASC 740, “Income Taxes”. Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current period and (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity’s financial statements or tax returns. Deferred tax assets also include the prior years’ net operating losses (“NOL”) carried forward. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and negative evidence, it is more likely than not some portion or all of the deferred tax assets will not be realized. The Company is subject to income taxes by entity on income arising in or derived from the tax jurisdiction in which each entity is domiciled. The Company’s PRC subsidiaries file their income tax returns online with PRC tax authorities. The Company conducts all of its businesses through its subsidiaries and affiliated entities, principally in the PRC. (A) United States (“US”) The Company’s US parent company was incorporated in the US and is subject to U.S. income tax rate of 21% and files U.S. federal income tax return. As of July 31, 2021, the US entity had net operating loss carry forwards for income tax purpose of $ 106,708 (B) PRC The Company’s wholly owned Chinese subsidiary Shanghai Clancy is a wholly foreign-owned entity (“WFOE”). Shanghai Clancy had no business activity from inception through July 31, 2020. The Company’s second tier WOFE subsidiary, Beijing Clancy, is subject to the reduced PRC income tax rate as follows as per Caishui (2019) No. 13 issued by General Administration of Taxation, Ministry of Finance of PRC in January 2019: if the annual taxable income of small enterprises does not exceed RMB 1 million ($152,000), only 25% of such taxable income is required for paying the income tax at an income tax rate of 20% (equivalent to 5% of the total taxable income); if the annual taxable income of small enterprises is between RMB 1 million ($152,000) and RMB 3 million ($456,000), only 50% of such taxable income is required for paying the income tax at an income tax rate of 20% (equivalent to 10% of the total taxable income). This tax-reduced policy is effective for the period from January 1, 2019 through December 31, 2021. Beijing Clancy did not have taxable income for year ending July 31, 2021. Tax losses of the operating subsidiaries of the Company may be carried forward for five years in China. As of July 31, 2021, Beijing Clancy has $ 12,803 276,505 The following table reconciles the U.S. statutory rates to the Company’s effective tax rate for the years ended July 31, 2021 and 2020: Schedule of Effective Income Tax Rates Fiscal Years Ended July 31, 2021 2020 US federal statutory rates (21.0 )% (21.0 )% Tax rate difference – current provision (0.6 )% (0.6 )% Effect of PRC tax holiday 3.2 % 3.2 % Valuation allowance 18.4 % 18.4 % Effective tax rate — % — % Income tax expense was $0 for the years ended July 31, 2021 and 2020. The provision for income tax expense (benefit) for the years ended July 31, 2021 and 2020 consisted of the following: Schedule of Components of Income tax expense 2021 2020 Income tax expense – current $ — $ — Income tax expense (benefit) – deferred (24,567 ) (13,460 ) Increase (decrease) in valuation allowance 24,567 13,460 Total income tax expense $ — $ — The Company’s net deferred tax asset as of July 31, 2020 and 2019 is as follows: Schedule of Deferred Tax Assets July 31, 2021 July 31, 2020 Deferred tax asset Net operating loss $ 38,268 $ 13,701 Total 38,268 13,701 Less: valuation allowance (38,268 ) (13,701 ) Net deferred tax asset $ — $ —

SHARES ISSUED FOR EQUITY FINANC

SHARES ISSUED FOR EQUITY FINANCING	12 Months Ended
	Jul. 31, 2021
Shares Issued For Equity Financing
SHARES ISSUED FOR EQUITY FINANCING	NOTE 10 - SHARES ISSUED FOR EQUITY FINANCING In December 2020, the Company issued 150,000,000 300,000 153,105,464 3,105,250

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jul. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 11 - SUBSEQUENT EVENTS Management has evaluated subsequent events through the date of filing the financial statements with the Securities and Exchange Commission, the date the financial statements were available to be issued. Management is not aware of any reportable events that occurred subsequent to the balance sheet date up to the date of filing this report.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jul. 31, 2021
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and include the accounts of Clancy Corp. and its wholly owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation.
Fiscal year end	Fiscal year end The Company’s year end is July 31 st
Use of Estimates	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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Income Taxes	Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of all cash balances and highly liquid investments with original maturities of three months or less. Because of short maturity of these investments, the carrying amounts approximate their fair values.
Concentration of Credit Risk	Concentration of Credit Risk The Company is exposed to credit risk in the normal course of business, primarily related to cash and cash equivalents. A portion of the Company’s cash and cash equivalents are deposited with Industrial and Commercial Bank of China Limited and Pingan Bank in the PRC, which is not insured or otherwise protected. The Company had deposits of $ 51,486
Leases	Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities in the consolidated balance sheets. Finance leases are included in finance lease ROU assets and finance lease liabilities in the consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease and finance lease ROU assets and liabilities recognized at July 31, 2021 and 2020 based on the present value of lease payments over the lease term discounted using the rate implicit in the lease. In cases where the implicit rate is not readily determinable, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has elected not to recognize operating lease ROU assets and liabilities arising from short-term leases.
Reporting Currency and Translation	Reporting Currency and Translation The financial statements of the Company’s foreign subsidiaries are measured using the local currency, Renminbi (“RMB”), as the functional currency; whereas the functional currency of Clancy Corp. and reporting currency of the Company is the United States dollar (“USD” or “$”). The Company has operations in China where the local currency of RMB is used to prepare the financial statements which are translated into the Company’s reporting currency, U.S. dollars. The local currency of RMB is the functional currency for the operations outside the United States. Changes in the exchange rates between this currency and the Company’s reporting currency, are partially responsible for some of the periodic changes in the consolidated financial statements. Assets and liabilities of the Company’s foreign operations are translated into U.S. dollars at the spot rate in effect at the applicable reporting date. Revenues and expenses of the Company’s foreign operations are translated at the average exchange rate during the applicable period. The resulting unrealized cumulative translation adjustment is recorded as a component of accumulated other comprehensive income (loss) in stockholders’ deficit. Realized and unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entity are recorded in general and administrative expense in the period in which they occur. For the years ended July 31, July 31, 2021 and 2020 there were no realized or unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entities. The exchange rates used to translate amounts in RMB to USD for the purposes of preparing the consolidated financial statements were as follows: Schedule of exchange rates July 31, 2021 July 31, 2020 Period end USD: RMB exchange rate 6.46 7.00 Average USD: RMB exchange rate 6.56 7.04
Foreign Operations	Foreign Operations All of the Company’s operations and assets are located in Beijing China. The Company may be adversely affected by possible political or economic events in this country. The effect of these factors cannot be accurately predicted.
Contract Liabilities	Contract Liabilities On July 29, 2020, the Company entered into three-year service maintenance agreements with three customers. The three service maintenance agreements total 1,188,000 RMB to be received over the three-year period. The contracts require three months of upfront payments each quarter, totaling 99,000 RMB per quarter. The Company’s performance obligation will be satisfied on a monthly basis and the upfront payments will be recognized as revenue, pro rata on a monthly basis, over each fiscal quarter. For the year ended July 31, 2021, the company recognized revenue of $45,248. Including revenues of $20,567 from related parties. There were no revenues for the year ended July 31, 2020. One of the service maintenance agreements is with a company that is controlled by a supervising officer of Beijing Clancy and thus is deemed to be a related party. The total value of this service maintenance agreement is 540,000 RMB, payable quarterly with upfront quarterly payments of 45,000 RMB. The Company recently determined to re-focus is business strategy and direction. As a result, the Company has ceased its IT service maintenance agreements with its customers effective April 30, 2021 and re-focused its business operations to business consulting services to small and median sized businesses. Management believes their prior business experience will enable them to assist small and medium sized companies improve their operating efficiencies. The Company will charge its clients based on their performance. Management believes the new business model will reduce internal overhead costs and potentially provide a larger market for its services.
Basic Income (Loss) Per Share	Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260 ”Earnings per Share”. Basic (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted income (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. As of July 31, 2021, and 2020, there were no potentially dilutive equity instruments issued or outstanding.
Comprehensive Income	Comprehensive Income The Company follows Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) 220, “Comprehensive Income,” in reporting comprehensive income. Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income. The Company has one item of other comprehensive income, consisting of a foreign translation adjustment; however, the translation adjustment was immaterial for the years ending July 31, 2021 and 2020.
Financial Instruments	Financial Instruments The carrying value of the Company’s short-term financial instruments, such as accounts payable and advances, approximates their fair values because of their short maturities.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ASU NO. 2016-02 “Leases (Topic 842)” As of July 31, 2021, there are no recently issued accounting standards not yet adopted which would have a material effect on the Company’s consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Jul. 31, 2021
Accounting Policies [Abstract]
Schedule of exchange rates	Schedule of exchange rates July 31, 2021 July 31, 2020 Period end USD: RMB exchange rate 6.46 7.00 Average USD: RMB exchange rate 6.56 7.04

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Jul. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Lease Payment	Schedule of Future Minimum Lease Payment 2022 $ 78,881 2023 1,620 2024 - Total Lease payments 80,501 Less Imputed Interest (4,560 ) Net Lease liability $ 75,940

GENERAL AND ADMINISTRATIVE EX_2

GENERAL AND ADMINISTRATIVE EXPENSES (G&A) (Tables)	12 Months Ended
	Jul. 31, 2021
General And Administrative Expenses
Schedule of General and Administrative Expenses	Schedule of General and Administrative Expenses For the year ended Description 2021 2020 Payroll and payroll tax expenses $ 54,278 Professional fees 32,859 61,044 Lease expenses 65,921 5,670 Other G&A 10,551 12,803 Total $ 163,608 $ 79,517

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jul. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rates	Schedule of Effective Income Tax Rates Fiscal Years Ended July 31, 2021 2020 US federal statutory rates (21.0 )% (21.0 )% Tax rate difference – current provision (0.6 )% (0.6 )% Effect of PRC tax holiday 3.2 % 3.2 % Valuation allowance 18.4 % 18.4 % Effective tax rate — % — %
Schedule of Components of Income tax expense	Schedule of Components of Income tax expense 2021 2020 Income tax expense – current $ — $ — Income tax expense (benefit) – deferred (24,567 ) (13,460 ) Increase (decrease) in valuation allowance 24,567 13,460 Total income tax expense $ — $ —
Schedule of Deferred Tax Assets	Schedule of Deferred Tax Assets July 31, 2021 July 31, 2020 Deferred tax asset Net operating loss $ 38,268 $ 13,701 Total 38,268 13,701 Less: valuation allowance (38,268 ) (13,701 ) Net deferred tax asset $ — $ —

ORGANIZATION AND NATURE OF BU_2

ORGANIZATION AND NATURE OF BUSINESS (Details Narrative) - shares	Jul. 06, 2020	Jan. 15, 2020	Jul. 31, 2021	Jul. 31, 2020	Jan. 14, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stockholders' Equity Note, Stock Split		the forward split of the Company’s issued and outstanding common stock, $0.001 par value, on thirty (30) post-split shares for a one (1) pre-split share basis applicable to stockholders of record as of January 2, 2020
Common Stock, Shares Authorized		345,000,000	345,000,000	345,000,000	75,000,000
Stockholders' Equity, Reverse Stock Split	the reverse split of the Company’s issued and outstanding common stock, $0.001 par value, on thirty (30) pre-split shares to one (1) post-split share basis. Fractional shares resulting from the action will be rounded up to the nearest whole share.

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Jul. 31, 2021	Jul. 31, 2020
Period End R M B U S D Exchange Rate [Member]
Intercompany Foreign Currency Balance [Line Items]
Average USD: RMB exchange rate	6.46	7
Period Average R M B U S D Exchange Rate [Member]
Intercompany Foreign Currency Balance [Line Items]
Average USD: RMB exchange rate	6.56	7.04

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Jul. 31, 2021 USD ($)
Accounting Policies [Abstract]
Bank Deposits	$ 51,486

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details)	Jul. 31, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2022	$ 78,881
2023	1,620
2024
Total Lease payments	80,501
Less Imputed Interest	(4,560)
Net Lease liability	$ 75,940

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Operating leases expenses	$ 65,921	$ 8,947
Operating lease Right of Use assets	$ 112,515	$ 155,602

BUSINESS ADVANCES (Details Narr

BUSINESS ADVANCES (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Business Advances
Increase decrease in business advances	$ 81,324	$ (86,728)	$ 81,324

ADVANCES FROM RELATED PARTIES (

ADVANCES FROM RELATED PARTIES (Details Narrative) - USD ($)	Jul. 31, 2021	Jul. 31, 2020
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Contract with Customer, Liability, Current		$ 14,143
Director [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Contract with Customer, Liability, Current	$ 222,738	$ 263,037

RESEARCH AND DEVELOPMENT EXPE_2

RESEARCH AND DEVELOPMENT EXPENSE (Details Narrative)	12 Months Ended
	Jul. 31, 2021 USD ($)
Research And Development Expense
Cost of Development of Software	$ 41,135
Research and Development Expense	$ 213,535

GENERAL AND ADMINISTRATIVE EX_3

GENERAL AND ADMINISTRATIVE EXPENSES (G&A) (Details) - USD ($)	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
General And Administrative Expenses
Payroll and payroll tax expenses	$ 54,278
Professional fees	32,859	$ 61,044
Lease expenses	65,921	5,670
Other G&A	10,551	12,803
Total	$ 163,608	$ 79,517

INCOME TAXES (Details)

INCOME TAXES (Details)	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Income Tax Disclosure [Abstract]
US federal statutory rates	(21.00%)	(21.00%)
Tax rate difference – current provision	(0.60%)	(0.60%)
Effect of PRC tax holiday	3.20%	3.20%
Valuation allowance	18.40%	18.40%
Effective tax rate

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Income Tax Disclosure [Abstract]
Income tax expense – current
Income tax expense (benefit) – deferred	(24,567)	(13,460)
Increase (decrease) in valuation allowance	24,567	13,460
Total income tax expense

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($)	Jul. 31, 2021	Jul. 31, 2020
Deferred tax asset
Net operating loss	$ 38,268	$ 13,701
Total	38,268	13,701
Less: valuation allowance	(38,268)	(13,701)
Net deferred tax asset

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	Jul. 31, 2021 USD ($)
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 106,708
Foreign Tax Authority [Member] | Tax Year 2025 [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	12,803
Foreign Tax Authority [Member] | Tax Year 2026 [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 276,505

SHARES ISSUED FOR EQUITY FINA_2

SHARES ISSUED FOR EQUITY FINANCING (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Stock Issued During Period, Value, New Issues	$ 300,000	$ 300,000
Common Stock, Shares, Issued		153,105,464	3,105,250
Common Stock, Shares, Outstanding		153,105,464	3,105,250
Common Stock [Member]
Stock Issued During Period, Shares, New Issues	150,000,000	150,000,000
Stock Issued During Period, Value, New Issues		$ 150,000