Cover
Cover - shares | 3 Months Ended | |
Jul. 31, 2023 | Sep. 12, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jul. 31, 2023 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2024 | |
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 | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 5,871,250 |
Unaudited Condensed Balance She
Unaudited Condensed Balance Sheets - USD ($) | Jul. 31, 2023 | Apr. 30, 2023 |
Current assets: | ||
Cash and cash equivalent | $ 0 | $ 8,728 |
Total Current Assets | 0 | 8,728 |
TOTAL ASSETS | 8,728 | |
Current Liabilities | ||
Accrued liabilities and other payable | 49,943 | 51,843 |
Amount due to a related party | 16,237 | 16,100 |
Amount due to a director | 17,282 | |
Total Current Liabilities | 83,462 | 67,943 |
Total Liabilities | 83,462 | 67,943 |
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 | (148,157) | (123,910) |
Total Stockholders’ Deficit | (83,462) | (59,215) |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $ 0 | $ 8,728 |
Unaudited Condensed Balance S_2
Unaudited Condensed Balance Sheets (Parenthetical) - $ / shares | Jul. 31, 2023 | Apr. 30, 2023 |
Statement of Financial Position [Abstract] | ||
Common Stock, Par or Stated Value Per Share | $ 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 |
Unaudited Condensed Statements
Unaudited Condensed Statements of Operations - USD ($) | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Income Statement [Abstract] | ||
Revenue, net | $ 0 | $ 15,000 |
OPERATING EXPENSES | ||
General and Administrative Expenses | (24,247) | (12,866) |
TOTAL OPERATING EXPENSES | (24,247) | (12,866) |
(LOSS) INCOME FROM OPERATION | (24,247) | 2,134 |
(LOSS) INCOME BEFORE INCOME TAX | (24,247) | 2,134 |
PROVISION FOR INCOME TAXES | 0 | 0 |
NET (LOSS) INCOME | $ (24,247) | $ 2,134 |
Unaudited Condensed Statement_2
Unaudited Condensed Statements of Operations (Parenthetical) - $ / shares | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Income Statement [Abstract] | ||
Earnings Per Share, Basic | $ 0 | $ 0 |
Earnings Per Share, Diluted | $ 0 | $ 0 |
Weighted Average Number of Shares Outstanding, Basic | 5,871,250 | 5,871,250 |
Weighted Average Number of Shares Outstanding, Diluted | 5,871,250 | 5,871,250 |
Unaudited Condensed Statement_3
Unaudited Condensed Statements of Changes in Stockholders Deficit - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Apr. 30, 2022 | $ 5,871 | $ 58,824 | $ (99,683) | $ (34,988) |
Shares, Outstanding, Beginning Balance at Apr. 30, 2022 | 5,871,250 | |||
Net income for the period | 2,134 | 2,134 | ||
Ending balance, value at Jul. 31, 2022 | $ 5,871 | 58,824 | (97,549) | (32,854) |
Shares, Outstanding, Beginning Balance at Jul. 31, 2022 | 5,871,250 | |||
Beginning balance, value at Apr. 30, 2023 | $ 5,871 | 58,824 | (123,910) | (59,215) |
Shares, Outstanding, Beginning Balance at Apr. 30, 2023 | 5,871,250 | |||
Net income for the period | (24,247) | (24,247) | ||
Ending balance, value at Jul. 31, 2023 | $ 5,871 | $ 58,824 | $ (148,157) | $ (83,462) |
Shares, Outstanding, Beginning Balance at Jul. 31, 2023 | 5,871,250 |
Unaudited Condensed Statement_4
Unaudited Condensed Statements of Cash Flows - USD ($) | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net (loss) income | $ (24,247) | $ 2,134 |
Changes in operating assets and liabilities: | ||
Accrued liabilities and other payable | (1,900) | 4,647 |
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES | (26,147) | 6,781 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceed from a related party | 137 | 0 |
Proceed from a director | 17,282 | 0 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 17,419 | 0 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | (8,728) | 6,781 |
Cash and cash equivalents, beginning of period | 8,728 | 23,103 |
Cash and cash equivalents, end of period | 29,884 | |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 3,880 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 3 Months Ended |
Jul. 31, 2023 | |
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 –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 condensed balance sheet as of April 30, 2023 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 July 31, 2023 are not necessarily indicative of the results to be expected for the entire fiscal year ending April 30, 2024 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, 2023, filed with the SEC on May 15, 2023. |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 3 Months Ended |
Jul. 31, 2023 | |
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 on January 25, 2017 under the laws of the State of Nevada, United States of America. The Company has currently commenced its operation in the rendering of business consulting service to domestic and international customers. On June 6, 2023, the Company’s major shareholder and director, Barry Sytner entered into a securities purchase agreement (the “Securities Purchase Agreement”) with Xianchang Ma (“Mr. Ma”), pursuant to which Barry Sytner sold 5,066,250 shares of common stock of the Company to Mr. Ma, constituting approximately 86.3% of the issued and outstanding shares of the Company as of May 2, 2023, for a total consideration of $470,562, derived from the purchaser’s personal funds. The Securities Purchase Agreement was closed on June 14, 2023. Following the closing, Mr. Ma acquired a beneficial interest in 5,066,250 shares of common stock of the Company constituting approximately 86.3% of the issued and outstanding shares of the Company as of May 2, 2023 and constituting the change of control of the Company. Pursuant to the Securities Purchase Agreement, Barry Sytner has resigned from all his positions with the Company, and Mr. Ma has been appointed as the Chief Executive Officer, President, Chief Financial Officer and Director of the Company with effect from June 14, 2023. |
GOING CONCERN
GOING CONCERN | 3 Months Ended |
Jul. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | Note 3 – GOING CONCERN The accompanying unaudited 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 $ 83,462 148,157 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 investment capital to fund operating expenses. The Company intends to position itself so that it will be 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 condensed 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 | 3 Months Ended |
Jul. 31, 2023 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Note 4 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of the unaudited condensed financial statements in conformity with accounting principles generally accepted in the U.S. 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. 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. Revenue Recognition The Company adopted Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers 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. 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 three months ended July 31, 2023 and 2022. Net (Loss) Income Per Share The Company computes net (loss) income per share in accordance with FASB ASC 260 “Earnings per Share”. Basic income per share is computed by dividing net (loss) income available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted (loss) income per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive (loss) income per share excludes all potential common shares if their effect is anti-dilutive. As of July 31, 2023 and 2022, there were no potentially dilutive debt or equity instruments issued or outstanding. 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 (Loss) Income Comprehensive (loss) income is defined as all changes in stockholders’ deficit, exclusive of transactions with owners, such as capital investments. Comprehensive (loss) 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 July 31, 2023 and April 30, 2023, there were no differences between our comprehensive (loss) income and net (loss) income. Related parties Parties, which can be a corporation or individual, are considered to be related if the entities have 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. Fair Value of Financial Instruments Accounting Standard Codification (“ASC”) topic 820 “ Fair Value Measurements and Disclosures” 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 amount due to a related party and director approximates its fair value due to their short-term maturity. Recent Accounting Pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations. |
AMOUNT DUE TO A RELATED PARTY A
AMOUNT DUE TO A RELATED PARTY AND A DIRECTOR | 3 Months Ended |
Jul. 31, 2023 | |
Related Party Transactions [Abstract] | |
AMOUNT DUE TO A RELATED PARTY AND A DIRECTOR | Note 5 – AMOUNT DUE TO A RELATED PARTY AND A DIRECTOR Amount due to a related party and a director represent temporary advance by the former director and the current director of the Company. The amounts are unsecured, interest-free and repayment on demand. |
COMMON STOCK
COMMON STOCK | 3 Months Ended |
Jul. 31, 2023 | |
Equity [Abstract] | |
COMMON STOCK | Note 6 – COMMON STOCK Authorized shares The Company has 75,000,000 0.001 Issued and outstanding shares As of July 31, 2023 and April 30, 2023, there were 5,871,250 |
INCOME TAXES
INCOME TAXES | 3 Months Ended |
Jul. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | Note 7 – 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 at July 31, 2023 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 expense 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 at July 31, 2023. The Company’s utilization of any net operating loss carry forward may be unlikely as a result of its intended activities. The valuation allowance at July 31, 2023 was $ 31,113 5,092 The Company has a net operating loss carryforward for tax purposes totaling $ 148,157 As of As of Non-current deferred tax assets: Net operating loss carryforward $ (148,157 ) $ (123,910 ) Total deferred tax assets $ (31,113 ) $ (26,021 ) Valuation allowance 31,113 26,021 Net deferred tax assets $ – $ – |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Jul. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | Note 8 – COMMITMENTS AND CONTINGENCIES As of July 31, 2023, the Company has no material commitments and contingencies. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Jul. 31, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | Note 9 – SUBSEQUENT EVENTS In accordance with ASC Topic 855, “ Subsequent Events |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Jul. 31, 2023 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates The preparation of the unaudited condensed financial statements in conformity with accounting principles generally accepted in the U.S. 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. |
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. |
Revenue Recognition | Revenue Recognition The Company adopted Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers 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. |
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 three months ended July 31, 2023 and 2022. |
Net (Loss) Income Per Share | Net (Loss) Income Per Share The Company computes net (loss) income per share in accordance with FASB ASC 260 “Earnings per Share”. Basic income per share is computed by dividing net (loss) income available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted (loss) income per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive (loss) income per share excludes all potential common shares if their effect is anti-dilutive. As of July 31, 2023 and 2022, there were no potentially dilutive debt or equity instruments issued or outstanding. |
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 (Loss) Income | Comprehensive (Loss) Income Comprehensive (loss) income is defined as all changes in stockholders’ deficit, exclusive of transactions with owners, such as capital investments. Comprehensive (loss) 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 July 31, 2023 and April 30, 2023, there were no differences between our comprehensive (loss) income and net (loss) income. |
Related parties | Related parties Parties, which can be a corporation or individual, are considered to be related if the entities have 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. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Accounting Standard Codification (“ASC”) topic 820 “ Fair Value Measurements and Disclosures” 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 amount due to a related party and director approximates its fair value due to their short-term maturity. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations. |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 3 Months Ended |
Jul. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES (Details - Deferred taxes) | As of As of Non-current deferred tax assets: Net operating loss carryforward $ (148,157 ) $ (123,910 ) Total deferred tax assets $ (31,113 ) $ (26,021 ) Valuation allowance 31,113 26,021 Net deferred tax assets $ – $ – |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Jul. 31, 2023 | Apr. 30, 2023 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Working capital deficit | $ 83,462 | |
Retained Earnings (Accumulated Deficit) | $ 148,157 | $ 123,910 |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - $ / shares | Jul. 31, 2023 | Apr. 30, 2023 |
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 - Deferre
INCOME TAXES (Details - Deferred taxes) - USD ($) | Jul. 31, 2023 | Apr. 30, 2023 |
Non-current deferred tax assets: | ||
Net operating loss carryforward | $ (148,157) | $ (123,910) |
Total deferred tax assets | (31,113) | (26,021) |
Valuation allowance | 31,113 | 26,021 |
Net deferred tax assets | $ 0 | $ 0 |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | 3 Months Ended | |
Jul. 31, 2023 | Apr. 30, 2023 | |
Income Tax Disclosure [Abstract] | ||
Deferred Tax Assets, Valuation Allowance | $ 31,113 | $ 26,021 |
Increase (Decrease) in Deferred Income Taxes | 5,092 | |
Operating Loss Carryforwards | $ 148,157 |