Cover
Cover - shares | 6 Months Ended | |
Oct. 31, 2021 | Nov. 10, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Oct. 31, 2021 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --04-30 | |
Entity File Number | 333-218733 | |
Entity Registrant Name | Yijia Group Corp | |
Entity Central Index Key | 0001699709 | |
Entity Tax Identification Number | 35-2583762 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 30 N Gould St | |
Entity Address, Address Line Two | Suite 22545 | |
Entity Address, City or Town | Sheridan | |
Entity Address, State or Province | WY | |
Entity Address, Postal Zip Code | 82801 | |
City Area Code | 310 | |
Local Phone Number | 266-3738 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 5,871,250 |
CONDENSED BALANCE SHEETS (Unaud
CONDENSED BALANCE SHEETS (Unaudited) - USD ($) | Oct. 31, 2021 | Apr. 30, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 31,693 | $ 0 |
Total current assets | 31,693 | 0 |
TOTAL ASSETS | 31,693 | 0 |
Current Liabilities | ||
Other payable and accruals | 36,691 | 28,563 |
Amount due to a related party | 12,100 | 146,107 |
Total Current Liabilities | 48,791 | 174,670 |
Total Liabilities | 48,791 | 174,670 |
Commitments and Contingencies | ||
Stockholders’ Deficit | ||
Common stock, par value $0.001; 75,000,000 shares authorized, 5,871,250 and 5,871,250 shares issued and outstanding, respectively | 5,871 | 5,871 |
Additional paid in capital | 58,824 | 58,824 |
Accumulated deficit | (81,793) | (239,365) |
Total Stockholders’ Deficit | (17,098) | (174,670) |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $ 31,693 | $ 0 |
CONDENSED BALANCE SHEETS (Una_2
CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Oct. 31, 2021 | Apr. 30, 2021 |
Statement of Financial Position [Abstract] | ||
Common Stock, Par Value | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Shares, Issued | 5,871,250 | 5,871,250 |
Common Stock, Shares, Outstanding | 5,871,250 | 5,871,250 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2021 | Oct. 31, 2020 | |
Income Statement [Abstract] | ||||
Revenue | $ 45,000 | $ 0 | $ 45,000 | $ 0 |
OPERATING EXPENSES | ||||
General and Administrative Expenses | 29,991 | 12,385 | 40,477 | 23,632 |
TOTAL OPERATING EXPENSES | (29,991) | (12,385) | (40,477) | (23,632) |
Other income | ||||
Gain from forgiveness of debts | 0 | 0 | 153,049 | 0 |
INCOME (LOSS) BEFORE INCOME TAX | 15,009 | (12,385) | 157,572 | (23,632) |
PROVISION FOR INCOME TAXES | 0 | 0 | 0 | 0 |
NET INCOME (LOSS) | $ 15,009 | $ (12,385) | $ 157,572 | $ (23,632) |
NET INCOME (LOSS) PER SHARE - BASIC AND DILUTED | $ 0 | $ 0 | $ 0.03 | $ 0 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING - BASIC AND DILUTED | 5,871,250 | 5,871,250 | 5,871,250 | 5,871,250 |
CONDENSED STATEMENTS OF CHANGES
CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDER'S DEFICIT (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Apr. 30, 2020 | $ 5,871 | $ 58,824 | $ (187,271) | $ (122,576) |
Beginning balance, shares at Apr. 30, 2020 | 5,871,250 | |||
Net loss for the period | (11,247) | (11,247) | ||
Ending balance, value at Jul. 31, 2020 | $ 5,871 | 58,824 | (198,518) | (133,823) |
Ending balance, shares at Jul. 31, 2020 | 5,871,250 | |||
Beginning balance, value at Apr. 30, 2020 | $ 5,871 | 58,824 | (187,271) | (122,576) |
Beginning balance, shares at Apr. 30, 2020 | 5,871,250 | |||
Net loss for the period | (23,632) | |||
Ending balance, value at Oct. 31, 2020 | $ 5,871 | 58,824 | (210,903) | (146,208) |
Ending balance, shares at Oct. 31, 2020 | 5,871,250 | |||
Beginning balance, value at Jul. 31, 2020 | $ 5,871 | 58,824 | (198,518) | (133,823) |
Beginning balance, shares at Jul. 31, 2020 | 5,871,250 | |||
Net loss for the period | (12,385) | (12,385) | ||
Ending balance, value at Oct. 31, 2020 | $ 5,871 | 58,824 | (210,903) | (146,208) |
Ending balance, shares at Oct. 31, 2020 | 5,871,250 | |||
Beginning balance, value at Apr. 30, 2021 | $ 5,871 | 58,824 | (239,365) | (174,670) |
Beginning balance, shares at Apr. 30, 2021 | 5,871,250 | |||
Net loss for the period | 142,563 | 142,563 | ||
Ending balance, value at Jul. 31, 2021 | $ 5,871 | 58,824 | (96,802) | (32,107) |
Ending balance, shares at Jul. 31, 2021 | 5,871,250 | |||
Beginning balance, value at Apr. 30, 2021 | $ 5,871 | 58,824 | (239,365) | (174,670) |
Beginning balance, shares at Apr. 30, 2021 | 5,871,250 | |||
Net loss for the period | 157,572 | |||
Ending balance, value at Oct. 31, 2021 | $ 5,871 | 58,824 | (81,793) | (17,098) |
Ending balance, shares at Oct. 31, 2021 | 5,871,250 | |||
Beginning balance, value at Jul. 31, 2021 | $ 5,871 | 58,824 | (96,802) | (32,107) |
Beginning balance, shares at Jul. 31, 2021 | 5,871,250 | |||
Net loss for the period | 15,009 | 15,009 | ||
Ending balance, value at Oct. 31, 2021 | $ 5,871 | $ 58,824 | $ (81,793) | $ (17,098) |
Ending balance, shares at Oct. 31, 2021 | 5,871,250 |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 6 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (loss) | $ 157,572 | $ (23,632) |
Adjustment for non-cash income and expenses: | ||
Gain from forgiveness of related party debt | (153,049) | 0 |
Changes in operating assets and liabilities: | ||
Increase (decrease) in other payable and accruals | 8,128 | (6,939) |
NET CASH GENERATED FROM (USED IN) OPERATING ACTIVITIES | 12,651 | (30,571) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceed from a related party | 19,042 | 30,571 |
NET CASH GENERATED FROM FINANCING ACTIVITIES | 19,042 | 30,571 |
NET CHANGE IN CASH AND CASH EQUIVALENTS FOR THE PERIOD | 31,693 | 0 |
Cash and cash equivalents, beginning of period | 0 | 0 |
Cash and cash equivalents, end of period | 31,693 | 0 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 6 Months Ended |
Oct. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PRESENTATION | Note 1 – BASIS OF PRESENTATION The accompanying unaudited condensed financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (“GAAP”), and the instructions to Form 10–Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. In the opinion of management, the balance sheet as of April 30, 2021 which has been derived from audited financial statements and these unaudited condensed financial statements reflect all normal and considered necessary to state fairly the results for the periods presented. The results for the period ended October 31, 2021 are not necessarily indicative of the results to be expected for the entire fiscal year ending April 30, 2022 or for any future period. These unaudited condensed financial statements and notes thereto should be read in conjunction with the Management’s Discussion and the audited financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended April 30, 2021. |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 6 Months Ended |
Oct. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND NATURE OF BUSINESS | Note 2 – ORGANIZATION AND NATURE OF BUSINESS Yijia Group Corp. (“the Company”, “we”, “us” or “our”) was incorporated as Soldino Group Corp. on January 25, 2017 under the laws of the State of Nevada, United States of America. The Company has ceased its operations as of October 2018. As such, the Company accounted for all of its assets, liabilities and results of operations up to October 31, 2018 as discontinued operations. As of November 1, 2018, the Company is a shell company. On November 15, 2018, the Company changed its name to Yijia Group Corp. On October 31, 2018, Aurora Fiorin resigned as the President, Treasurer, Secretary and Director of the Company. Ms. Fiorin’s resignation as President, Treasurer and Secretary was effective immediately. Ms. Fiorin’s resignation as a Director was effective ten (10) days following the filing by the Company of the Information Statement on Schedule 14f-1 with the United States Securities and Exchange Commission (the “SEC”). Prior to Ms. Fiorin’s, resignation, she appointed Ms. Shaoyin Wu as the new President and Chief Executive Officer of the Company and Mr. Kim Lee Poh as the Company’s new Chief Financial Officer and Secretary. Ms. Wu and Mr. Poh were appointed as new board members of the Company, along with Mr. Jian Yang. On July 28, 2021, Barry Sytner, a non-affiliate of the registrant, purchased an aggregate of 5,066,250 common shares from Kim Lee Poh, Jian Yang and Shaoyin Wu, officers and directors of the registrant and from Jiang Bo, Chen Bo Bo and Zheng Lixing, other majority shareholders of the registrant. The purchase price for the common shares was paid from Mr. Sytner’s personal funds resulting in a change of control of the registrant. The common shares were transferred to Barry Sytner effective August 4, 2021. The 5,066,250 common shares represent 86.3% of the currently issued and outstanding common of the Company. Also, on July 28, 2021, Shaoyin Wu, Kim Lee Poh and Jian Yang resigned as officers and directors of the Company. Concurrently, on July 28, 2021, Barry Sytner, was appointed as Chief Executive Officer and Director of the Company. Starting from July 30, 2021, the Company commenced its operation in the rendering of business consulting service to domestic and international customers. On July 30, 2021, the Company entered into two consulting agreements with non-affiliates to provide business consulting services. Under the consulting agreements, the Company will receive consulting fees of $5,000 and $10,000 per month, respectively. The term of the consulting agreements is for an initial three month period. Unless terminated in writing prior to the end of the period, the consulting agreements are renewable for successive three month periods. |
GOING CONCERN
GOING CONCERN | 6 Months Ended |
Oct. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | Note 3 – GOING CONCERN The accompanying condensed financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. The Company suffered from a working capital deficit of $ 17,098 81,793 Therefore, there is substantial doubt about the Company’s ability to continue as a going concern without future profitability. Management anticipates that the Company will be dependent, in the near future, on additional capital to fund operating expenses. The Company intends to position itself to able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern. The accompanying financial statements have been prepared on a going concern basis which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments relating to the recoverability and classification of assets or the amounts and classifications 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 | 6 Months Ended |
Oct. 31, 2021 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Note 4 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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. Fair Value of Financial Instruments Accounting Standards Codification (“ASC”) topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy organizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash and the Company’s loan from shareholders approximates its fair value due to their short-term maturity. Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. 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. Uncertain tax positions The Company did not take any uncertain tax positions and had no adjustments to its income tax liabilities or benefits pursuant to the ASC 740 provisions of Section 740-10-25 for the six months ended October 31, 2021 and 2020. Revenue Recognition The Company adopted Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”) using the full retrospective transition method. The Company's adoption of ASU 2014-09 did not have a material impact on the amount and timing of revenue recognized in its condensed financial statements. Under ASU 2014-09, the Company recognizes revenue when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: • identify the contract with a customer; • identify the performance obligations in the contract; • determine the transaction price; • allocate the transaction price to performance obligations in the contract; and • recognize revenue as the performance obligation is satisfied. Consulting income is recognized, when the service is rendered and billed to the customer on a monthly basis, pursuant to the fulfillment of service terms in the agreement. Net Income (Loss) Per Share The Company computes net profit per share in accordance with FASB ASC 260 “Earnings per Share”. Basic income (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted profit per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive profit per share excludes all potential common shares if their effect is anti-dilutive. As of October 31, 2021, there were no Currencies The Company’s reporting and functional currencies are both the U.S. dollar. Foreign currency transaction gains and losses are included in other income (expense) but are negligible. Comprehensive Income Comprehensive income is defined as all changes in stockholders’ deficit, exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of October 31, 2021 and April 30, 2021, there were no differences between our comprehensive income (loss) and net income (loss). Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the party in making financial and operational decisions. Companies are also considered to be related if they are subject to common control or common significant influence. Reclassification Certain reclassifications have been made to the financial statements for the prior year periods to present that information on a basis consistent with the current period. Recent Accounting Pronouncements In September 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326)” (“ASU 2016-13”), which requires the immediate recognition of management’s estimates of current and expected credit losses. In November 2018, the FASB issued ASU 2018-19, which makes certain improvements to Topic 326. In April and May 2019, the FASB issued ASUs 2019-04 and 2019-05, respectively, which adds codification improvements and transition relief for Topic 326. In November 2019, the FASB issued ASU 2019-10, which delays the effective date of Topic 326 for Smaller Reporting Companies to interim and annual periods beginning after December 15, 2022, with early adoption permitted. In November 2019, the FASB issued ASU 2019-11, which makes improvements to certain areas of Topic 326. In February 2020, the FASB issued ASU 2020-02, which adds an SEC paragraph, pursuant to the issuance of SEC Staff Accounting Bulletin No. 119, to Topic 326. Topic 326 is effective for the Company for fiscal years and interim reporting periods within those years beginning after December 15, 2022. Early adoption is permitted for interim and annual periods beginning December 15, 2019. The Company is currently evaluating the potential impact of adopting this guidance on the condensed financial statements. All new accounting pronouncements issued but not yet effective are not expected to have a material impact on our results of operations, cash flows or financial position with the exception of the updated previously disclosed above, there have been no new accounting pronouncements not yet effective that have significance to the condensed financial statements. |
AMOUNT DUE TO A RELATED PARTY
AMOUNT DUE TO A RELATED PARTY | 6 Months Ended |
Oct. 31, 2021 | |
Related Party Transactions [Abstract] | |
AMOUNT DUE TO A RELATED PARTY | Note 5 – AMOUNT DUE TO A RELATED PARTY For the six months ended October 31, 2021, the amount of $ 153,049 As of October 31, 2021, the amount due to a related party represented temporary advances made by the Company’s director, Mr. Barry Sytner, which was unsecured, interest-free with no fixed repayment term. Imputed interest on this amount is considered insignificant. |
COMMON STOCK
COMMON STOCK | 6 Months Ended |
Oct. 31, 2021 | |
Equity [Abstract] | |
COMMON STOCK | Note 6 – COMMON STOCK The Company has 75,000,000 0.001 5,871,250 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Oct. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | Note 7 – COMMITMENTS AND CONTINGENCIES As of October 31, 2021, the Company has no material commitments or contingencies. |
INTEREST AND PENALTIES
INTEREST AND PENALTIES | 6 Months Ended |
Oct. 31, 2021 | |
Interest And Penalties | |
INTEREST AND PENALTIES | Note 8 – INTEREST AND PENALTIES The Company includes interest and penalties arising from the underpayment of income taxes in the statements of operations in the provision for income taxes. As of October 31, 2021 and April 30, 2021, the Company had no accrued interest or penalties related to uncertain tax positions. |
INCOME TAXES
INCOME TAXES | 6 Months Ended |
Oct. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | Note 9 – INCOME TAXES The Company adopted the provisions of uncertain tax positions as addressed in ASC 740-10-65-1. As a result of the implementation of ASC 740-10-65-1, the Company recognized no increase in the liability for unrecognized tax benefits. The Company has no tax position on October 31, 2021, for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. The Company does not recognize interest accrued related to unrecognized tax benefits in interest expenses and penalties in operating expenses. No such interest or penalties were recognized during the period presented. The Company had no accruals for interest and penalties on October 31, 2021. The Company’s utilization of any net operating loss carry forward may be unlikely as a result of its intended activities. The valuation allowance on October 31, 2021 was $17,177. The net change in valuation allowance during the six months ended October 31, 2021 was $33,090. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some or all of the deferred income tax assets will not be realized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred income tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based on consideration of these items, management has determined that enough uncertainty exists relative to the realization of the deferred income tax asset balances to warrant the application of a full valuation allowance as of October 31, 2021 and 2020. All tax years since inception remain open for examination only by taxing authorities of United States and State of Nevada. The Company has a net operating loss carryforward for tax purposes totaling $ 81,793 2041 Schedule of deferred taxes As of As of Non-current deferred tax assets: Net operating loss carryforwards $ (81,793 ) $ (239,365 ) Total deferred tax assets (17,177 ) (50,267 ) Valuation allowance 17,177 50,267 Net deferred tax assets $ – $ – The actual tax benefit at the expected rate of 21% differs from the expected tax benefit for the six months ended October 31, 2021 and 2020, as follows: Schedule of actual tax benefit Six months ended Six months ended Computed "expected" tax benefit $ (17,177 ) $ (44,290 ) Change in valuation allowance 17,177 44,290 Actual tax benefit $ – $ – |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Oct. 31, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | Note 10 – SUBSEQUENT EVENTS In accordance with ASC Topic 855, “ Subsequent Events , and has determined that it does not have any material subsequent events to disclose in these financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Oct. 31, 2021 | |
Accounting Policies [Abstract] | |
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. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Accounting Standards Codification (“ASC”) topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy organizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash and the Company’s loan from shareholders approximates its fair value due to their short-term maturity. |
Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. |
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. |
Uncertain tax positions | Uncertain tax positions The Company did not take any uncertain tax positions and had no adjustments to its income tax liabilities or benefits pursuant to the ASC 740 provisions of Section 740-10-25 for the six months ended October 31, 2021 and 2020. |
Revenue Recognition | Revenue Recognition The Company adopted Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”) using the full retrospective transition method. The Company's adoption of ASU 2014-09 did not have a material impact on the amount and timing of revenue recognized in its condensed financial statements. Under ASU 2014-09, the Company recognizes revenue when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: • identify the contract with a customer; • identify the performance obligations in the contract; • determine the transaction price; • allocate the transaction price to performance obligations in the contract; and • recognize revenue as the performance obligation is satisfied. Consulting income is recognized, when the service is rendered and billed to the customer on a monthly basis, pursuant to the fulfillment of service terms in the agreement. |
Net Income (Loss) Per Share | Net Income (Loss) Per Share The Company computes net profit per share in accordance with FASB ASC 260 “Earnings per Share”. Basic income (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted profit per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive profit per share excludes all potential common shares if their effect is anti-dilutive. As of October 31, 2021, there were no |
Currencies | Currencies The Company’s reporting and functional currencies are both the U.S. dollar. Foreign currency transaction gains and losses are included in other income (expense) but are negligible. |
Comprehensive Income | Comprehensive Income Comprehensive income is defined as all changes in stockholders’ deficit, exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of October 31, 2021 and April 30, 2021, there were no differences between our comprehensive income (loss) and net income (loss). |
Related parties | Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the party in making financial and operational decisions. Companies are also considered to be related if they are subject to common control or common significant influence. |
Reclassification | Reclassification Certain reclassifications have been made to the financial statements for the prior year periods to present that information on a basis consistent with the current period. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In September 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326)” (“ASU 2016-13”), which requires the immediate recognition of management’s estimates of current and expected credit losses. In November 2018, the FASB issued ASU 2018-19, which makes certain improvements to Topic 326. In April and May 2019, the FASB issued ASUs 2019-04 and 2019-05, respectively, which adds codification improvements and transition relief for Topic 326. In November 2019, the FASB issued ASU 2019-10, which delays the effective date of Topic 326 for Smaller Reporting Companies to interim and annual periods beginning after December 15, 2022, with early adoption permitted. In November 2019, the FASB issued ASU 2019-11, which makes improvements to certain areas of Topic 326. In February 2020, the FASB issued ASU 2020-02, which adds an SEC paragraph, pursuant to the issuance of SEC Staff Accounting Bulletin No. 119, to Topic 326. Topic 326 is effective for the Company for fiscal years and interim reporting periods within those years beginning after December 15, 2022. Early adoption is permitted for interim and annual periods beginning December 15, 2019. The Company is currently evaluating the potential impact of adopting this guidance on the condensed financial statements. All new accounting pronouncements issued but not yet effective are not expected to have a material impact on our results of operations, cash flows or financial position with the exception of the updated previously disclosed above, there have been no new accounting pronouncements not yet effective that have significance to the condensed financial statements. |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 6 Months Ended |
Oct. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of deferred taxes | Schedule of deferred taxes As of As of Non-current deferred tax assets: Net operating loss carryforwards $ (81,793 ) $ (239,365 ) Total deferred tax assets (17,177 ) (50,267 ) Valuation allowance 17,177 50,267 Net deferred tax assets $ – $ – |
Schedule of actual tax benefit | Schedule of actual tax benefit Six months ended Six months ended Computed "expected" tax benefit $ (17,177 ) $ (44,290 ) Change in valuation allowance 17,177 44,290 Actual tax benefit $ – $ – |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Oct. 31, 2021 | Apr. 30, 2021 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Working capital deficit | $ 17,098 | |
Retained Earnings (Accumulated Deficit) | $ 81,793 | $ 239,365 |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) | 6 Months Ended |
Oct. 31, 2021shares | |
Accounting Policies [Abstract] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 |
AMOUNT DUE TO A RELATED PARTY (
AMOUNT DUE TO A RELATED PARTY (Details Narrative) | 6 Months Ended |
Oct. 31, 2021USD ($) | |
Forgiveness Of Debt [Member] | |
Related Party Transaction [Line Items] | |
Debt Instrument, Decrease, Forgiveness | $ 153,049 |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - $ / shares | Oct. 31, 2021 | Apr. 30, 2021 |
Equity [Abstract] | ||
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares, Issued | 5,871,250 | 5,871,250 |
Common Stock, Shares, Outstanding | 5,871,250 | 5,871,250 |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) | Oct. 31, 2021 | Apr. 30, 2021 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carryforwards | $ (81,793) | $ (239,365) |
Total deferred tax assets | (17,177) | (50,267) |
Valuation allowance | 17,177 | 50,267 |
Net deferred tax assets | $ 0 | $ 0 |
INCOME TAXES (Details-1)
INCOME TAXES (Details-1) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2021 | Oct. 31, 2020 | |
Income Tax Disclosure [Abstract] | ||||
Computed "expected" tax benefit | $ (17,177) | $ (44,290) | ||
Change in valuation allowance | 17,177 | 44,290 | ||
Actual tax benefit | $ 0 | $ 0 | $ 0 | $ 0 |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) | 6 Months Ended |
Oct. 31, 2021USD ($) | |
Income Tax Disclosure [Abstract] | |
Operating Loss Carryforwards | $ 81,793 |
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2041 |