Cover
Cover - shares | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Apr. 30, 2021 | Jul. 31, 2021 | May 31, 2021 | |
Cover [Abstract] | |||
Document Type | 10-Q | ||
Amendment Flag | false | ||
Document Quarterly Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Jul. 31, 2021 | ||
Document Fiscal Period Focus | Q2 | ||
Document Fiscal Year Focus | 2021 | ||
Current Fiscal Year End Date | --01-31 | ||
File Number | 333-223963 | ||
Registrant Name | Minaro Corp. | ||
Entity Central Index Key | 0001710495 | ||
Tax Identification Number | 36-4864568 | ||
Incorporation State Country Code | NV | ||
Address Line 1 | Kleonos 8A | ||
Address City Or Town | Lakatameia | ||
Address Country | CY | ||
Address Postal Zip Code | 2333 | ||
City Area Code | 357 | ||
Local Phone Number | 22000344 | ||
Current Reporting Status | Yes | ||
Interactive Data Current | No | ||
Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | true | ||
Elected Not To Use the Extended Transition Period | true | ||
Entity Shel lCompany | false | ||
Common Stock Shares Outstanding | 3,734,550 |
Balance Sheet
Balance Sheet - USD ($) | Jul. 31, 2021 | Jan. 31, 2021 |
Current Assets | ||
Cash and cash equivalents | $ 1,508 | $ 3,546 |
Prepaid expenses | 267 | 2,696 |
Total Current Assets | 1,775 | 6,241 |
Fixed Assets | ||
Equipment, software, leasehold improvement, net | 17,762 | 26,081 |
Total Fixed Assets | 17,762 | 26,081 |
Total Assets | 19,537 | 32,322 |
Current Liabilities | ||
Related party loan | 72,015 | 36,135 |
Investments | 12,100 | |
Total Current Liabilities | 72,015 | 48,235 |
Total Liabilities | 72,015 | 48,235 |
Commitments and Contingencies | ||
Stockholder’s Equity | ||
Common stock, par value $0.001; 75,000,000 shares authorized, 3,734,550 and 3,580,000 shares issued and outstanding | 3,735 | 3,580 |
Additional paid in capital | 17,756 | 14,820 |
Retained earnings (accumulated deficit) | (73,969) | (34,313) |
Total Stockholder’s Deficit | (52,478) | (15,913) |
Total Liabilities and Stockholder’s Equity | $ 19,537 | $ 32,322 |
Balance Sheet (Parenthetical)
Balance Sheet (Parenthetical) - $ / shares | Apr. 30, 2021 | Jan. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Common Stock Value Per Share | $ 0.001 | $ 0.001 |
Common Stock Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock Shares Issued | 3,734,550 | 3,580,000 |
Common Stock Shares Outstanding | 3,734,550 | 3,580,000 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
REVENUES | ||||
Gross Profit | ||||
OPERATING EXPENSES | ||||
General and Administrative Expenses | (23,893) | (8,413) | (39,656) | (18,397) |
TOTAL OPERATING EXPENSES | (23,893) | (8,413) | (39,656) | (18,397) |
NET INCOME/LOSS FROM OPERATIONS | (23,893) | (8,413) | (39,656) | (18,397) |
PROVISION FOR INCOME TAXES | ||||
NET INCOME/LOSS | $ (23,893) | $ (8,413) | $ (39,656) | $ (18,397) |
NET INCOME PER SHARE: BASIC AND DILUTED | $ 0 | $ 0 | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 3,734,550 | 2,950,000 | 3,731,848 | 2,830,000 |
Statements of Changes in Stockh
Statements of Changes in Stockholders Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance, shares | 2,950,000 | |||
Beginning balance, value at Jan. 31, 2020 | $ 2,950 | $ 2,815 | $ (14,806) | $ (9,041) |
Issuance of common stock | ||||
Net loss | (18,397) | (18,397) | ||
Balance, July 31, 2020 at Jul. 31, 2020 | 2,950 | 2,815 | (33,203) | (27,438) |
Balance, value | 2,950,000 | |||
Balance, July 31, 2020 at Jul. 31, 2020 | 2,950 | 2,815 | (33,203) | (27,438) |
Beginning balance, value at Apr. 30, 2020 | 2,950 | 2,815 | (24,790) | (19,025) |
Issuance of common stock | ||||
Net loss | (8,413) | $ (8,413) | ||
Balance, shares | 2,950,000 | |||
Balance, shares | 3,580,000 | |||
Beginning balance, value at Jan. 31, 2021 | 3,580 | 14,820 | (34,313) | $ (15,913) |
Issuance of common stock | 155 | 2,963 | 3,091 | |
Net loss | (39,656) | $ (39,656) | ||
Issuance of common stock | 154,550 | |||
Balance, July 31, 2021 at Jul. 31, 2021 | 3,735 | 17,756 | (73,969) | $ (52,478) |
Beginning balance, value at Jan. 31, 2021 | $ (15,913) | |||
Balance, shares | 3,734,550 | |||
Balance, value | $ 3,734,550 | |||
Beginning balance, value at Apr. 30, 2021 | 3,735 | 17,756 | (50,076) | (28,585) |
Balance, July 31, 2021 at Jul. 31, 2021 | 3,735 | 17,756 | (73,969) | (52,478) |
Net loss | (23,893) | (23,893) | ||
Issuance of common stock | ||||
Balance, shares | 3,734,550 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 6 Months Ended | |
Jul. 31, 2021 | Jul. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Income | $ (39,656) | $ (18,397) |
Adjustments to reconcile net loss to net cash from operating activities: | ||
Depreciation | 8,319 | 7,868 |
Change in prepaid expenses | 2,428 | 15,182 |
Change in customer deposits | (7,530) | |
CASH FLOWS FROM OPERATING ACTIVITIES | (28,909) | (2,877) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of Fixed Assets | (13,580) | |
CASH FLOWS USED IN INVESTING ACTIVITIES | (13,580) | |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Related party loan | $ 23,780 | $ 16,185 |
Provision of Capital Stock | false | false |
CASH FLOWS FROM FINANCING ACTIVITIES | $ 26,871 | $ 16,185 |
NET CHANGE IN CASH | (2,038) | (272) |
Cash, beginning of period | 3,546 | 511 |
Cash, end of period | 1,508 | 239 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Interest paid | ||
Income taxes paid |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 6 Months Ended |
Jul. 31, 2021 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND NATURE OF BUSINESS | Note 1 – ORGANIZATION AND NATURE OF BUSINESS Minaro Corp. (“the Company”) was incorporated in the State of Nevada on March 14, 2017. The Company is located in Cyprus. Its business is production of 3D visualizations (3D exterior for commercial space and interior renderings, prototyping, 3D modeling). Minaro Corp. is going to provide our clients with the high-quality products, visualizing their thoughts and ideas. Our goal at the beginning of each new project is to reach the highest level of our client vision understanding in order to transform it into stunning 3D design visualization. |
GOING CONCERN
GOING CONCERN | 6 Months Ended |
Jul. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | Note 2 – GOING CONCERN The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”), which contemplate continuation of the Company as a going concern. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern. Management anticipates that the Company will be dependent, for 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. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jul. 31, 2021 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Note 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying financial statements have been prepared in accordance with GAAP. The Company’s year-end is January 31. Use of Estimates The preparation of financial statements in conformity with GAAP 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 of 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 E ui v lents T e C m a c nsi ers all i ly li i inves m e ts wit ori i a m ritie o thre m t les to s e q i a le t Prepaid Expenses Prepaid Expenses are recorded at fair market value. The Company had $267 in prepaid rent as of July 31, 2021. 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. Equipment Equipment is stated at cost, net of accumulated depreciation. The cost of equipment and software is depreciated using the straight-line method over one and five years and the cost of leasehold improvement is depreciated using the straight-line method over one year. Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the equipment's useful life are capitalized. Equipment sold or retired, together with the related accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income. 8 Minaro Corp. NOTES TO THE FINANCIAL STATEMENTS July 31, 2021 (Unaudited) Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 606, “Revenue from Contracts with Customers”. ASC 606 adoption is on February 1, 2018. 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. Specifically, Section 606-10-50 requires an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts. For the six months ended January July 31, 2021, the Company has generated $0 revenue. Minaro Corp. provides 3D visualizations to its clients according to the signed contracts. Revenue is recognized when the order is completed and approved by the customer. Recent Accounting Pronouncements We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company. In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-09, “Compensation – Stock Compensation” (Topic 718): Improvements to Employee Share-Based Payment Accounting. This guidance changes how companies account for certain aspects of share-based payments to employees. Among other things, under the new guidance, companies will no longer record excess tax benefits and certain tax deficiencies in additional paid-in-capital (“APIC”) but will instead record such items as income tax expense or benefit in the income statement, and APIC pools will be eliminated. Companies will apply this guidance prospectively. Another component of the new guidance allows companies to make an accounting policy election for the impact of forfeitures on the recognition of expense for share-based payment awards, whereby forfeitures can be estimated, as required today, or recognized when they occur. If elected, the change to recognize forfeitures when they occur needs to be adopted using a modified retrospective approach. All of the guidance is effective for fiscal years beginning after December 15, 2016. Adoption of the ASU had no impact on our financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases” (Topic 842), which issued new guidance related to leases that outlines a comprehensive lease accounting model and supersedes the current lease guidance. The new guidance requires lessees to recognize lease liabilities and corresponding right-of-use assets for all leases with lease terms of greater than 12 months. It also changes the definition of a lease and expands the disclosure requirements of lease arrangements. The new guidance is effective for fiscal years beginning after December 15, 2019 and interim periods within fiscal years beginning after December 15, 2020. The Company is currently evaluating the impact of this guidance, if any, on its financial statements and related disclosures. Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with ASC 260 “Earnings per Share”. Basic 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 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. For the six months ended July 31, 2021 there were no potentially dilutive debt or equity instruments issued or outstanding. 9 Minaro Corp. NOTES TO THE FINANCIAL STATEMENTS July 31, 2021 (Unaudited) Impact of COVID-19 on the Company The global outbreak of COVID-19 has led to severe disruptions in general economic activities, as businesses and governments have taken broad actions to mitigate this public health crisis. Although the Company has not experienced any significant disruption to its business to date, these conditions could significantly negatively impact the Company’s business in the future. The extent to which the COVID-19 outbreak ultimately impacts the Company’s business, future revenues, results of operations and financial condition will depend on future developments, which are highly uncertain and cannot be predicted, including, but not limited to, the duration and spread of the outbreak, its severity and longevity, the actions to curtail the virus and treat its impact (including an effective vaccine), and how quickly and to what extent normal economic and operating conditions can resume. Even after the COVID-19 outbreak has subsided, the Company may be at risk of experiencing a significant impact to its business as a result of the global economic impact, including any economic downturn or recession that has occurred or may occur in the future. As a result of the impact of COVID-19 on capital markets, the availability, amount, and type of financing available to the Company in the near future is uncertain and cannot be assured and is largely dependent upon evolving market conditions and other factors. The Company intends to continue to monitor the situation and may adjust its current business plans as more information and guidance become available. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Jul. 31, 2021 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | Note 4 – RELATED PARTY TRANSACTIONS The Company’s sole director has loaned to the Company $ 72,015 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Jul. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | Note 5 – COMMITMENTS AND CONTINGENCIES The Company has reentered signed rental agreement for a $ 267 From time-to-time, the Company is subject to various litigation and other claims in the normal course of business. The Company establishes liabilities in connection with legal actions that management deems to be probable and estimable. No amounts have been accrued in the financial statements with respect to any matters. |
INCOME TAXES
INCOME TAXES | 6 Months Ended |
Jul. 31, 2021 | |
Accounting Policies [Abstract] | |
INCOME TAXES | Note 6 – INCOME TAXES The Company adopted the provisions of uncertain tax positions as addressed in ASC 740 “Income Taxes” (“ASC 740”). As a result of the implementation of ASC 740, the Company recognized no increase in the liability for unrecognized tax benefits. As of July 31, 2021, the Company had net operating loss carry forwards of approximately $73,969 that may be available to reduce future years’ taxable income in varying amounts through 2031. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carryforwards. The valuation allowance at July 31, 2021 was approximately $15,533. The net change in valuation allowance during the six months ended July 31, 2021 was $8,328. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion 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 July 31, 2021. All tax years since inception remain open for examination by taxing authorities. 10 Minaro Corp. NOTES TO THE FINANCIAL STATEMENTS July 31, 2021 (Unaudited) The provision for Federal income tax As of July 31, 2021 As of January 31, 2021 Non-current deferred tax assets: Net operating loss carry forward $ (15,533) (7,205) Valuation allowance $ 15,533 7,205 Net deferred tax assets $ - - The actual tax benefit Six months ended July 31, 2021 Six months ended July 31, 2020 Computed “expected” tax expense (benefit) $ (8,328) (3,863) Change in valuation allowance $ 8,328 3,863 Actual tax expense (benefit) $ - - The related deferred tax benefit on the above unutilized tax losses has a full valuation allowance not recognized against it as there is no certainty of its realization. Management has evaluated tax positions in accordance with ASC 740 and has not identified any significant tax positions, other than those disclosed. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Jul. 31, 2021 | |
Accounting Policies [Abstract] | |
SUBSEQUENT EVENTS | Note 7 – SUBSEQUENT EVENTS In accordance with ASC 855, “Subsequent Events”, the Company has analyzed its operations subsequent to July 31, 2021, through September 3, 2021, and has determined that it does not have any material subsequent events to disclose in these financial statements, other than shares issuance. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Jul. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation The accompanying financial statements have been prepared in accordance with GAAP. The Company’s year-end is January 31. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP 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 of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash | Cash and Cash E ui v lents T e C m a c nsi ers all i ly li i inves m e ts wit ori i a m ritie o thre m t les to s e q i a le t |
Prepaid Expenses | Prepaid Expenses Prepaid Expenses are recorded at fair market value. The Company had $267 in prepaid rent as of July 31, 2021. |
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. |
Equipment | Equipment Equipment is stated at cost, net of accumulated depreciation. The cost of equipment and software is depreciated using the straight-line method over one and five years and the cost of leasehold improvement is depreciated using the straight-line method over one year. Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the equipment's useful life are capitalized. Equipment sold or retired, together with the related accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income. 8 Minaro Corp. NOTES TO THE FINANCIAL STATEMENTS July 31, 2021 (Unaudited) |
Revenue Recognition | Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 606, “Revenue from Contracts with Customers”. ASC 606 adoption is on February 1, 2018. 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. Specifically, Section 606-10-50 requires an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts. For the six months ended January July 31, 2021, the Company has generated $0 revenue. Minaro Corp. provides 3D visualizations to its clients according to the signed contracts. Revenue is recognized when the order is completed and approved by the customer. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company. In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-09, “Compensation – Stock Compensation” (Topic 718): Improvements to Employee Share-Based Payment Accounting. This guidance changes how companies account for certain aspects of share-based payments to employees. Among other things, under the new guidance, companies will no longer record excess tax benefits and certain tax deficiencies in additional paid-in-capital (“APIC”) but will instead record such items as income tax expense or benefit in the income statement, and APIC pools will be eliminated. Companies will apply this guidance prospectively. Another component of the new guidance allows companies to make an accounting policy election for the impact of forfeitures on the recognition of expense for share-based payment awards, whereby forfeitures can be estimated, as required today, or recognized when they occur. If elected, the change to recognize forfeitures when they occur needs to be adopted using a modified retrospective approach. All of the guidance is effective for fiscal years beginning after December 15, 2016. Adoption of the ASU had no impact on our financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases” (Topic 842), which issued new guidance related to leases that outlines a comprehensive lease accounting model and supersedes the current lease guidance. The new guidance requires lessees to recognize lease liabilities and corresponding right-of-use assets for all leases with lease terms of greater than 12 months. It also changes the definition of a lease and expands the disclosure requirements of lease arrangements. The new guidance is effective for fiscal years beginning after December 15, 2019 and interim periods within fiscal years beginning after December 15, 2020. The Company is currently evaluating the impact of this guidance, if any, on its financial statements and related disclosures. |
Basic Income (Loss) Per Share | Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with ASC 260 “Earnings per Share”. Basic 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 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. For the six months ended July 31, 2021 there were no potentially dilutive debt or equity instruments issued or outstanding. 9 Minaro Corp. NOTES TO THE FINANCIAL STATEMENTS July 31, 2021 (Unaudited) |
Impact of COVID-19 on the Company | Impact of COVID-19 on the Company The global outbreak of COVID-19 has led to severe disruptions in general economic activities, as businesses and governments have taken broad actions to mitigate this public health crisis. Although the Company has not experienced any significant disruption to its business to date, these conditions could significantly negatively impact the Company’s business in the future. The extent to which the COVID-19 outbreak ultimately impacts the Company’s business, future revenues, results of operations and financial condition will depend on future developments, which are highly uncertain and cannot be predicted, including, but not limited to, the duration and spread of the outbreak, its severity and longevity, the actions to curtail the virus and treat its impact (including an effective vaccine), and how quickly and to what extent normal economic and operating conditions can resume. Even after the COVID-19 outbreak has subsided, the Company may be at risk of experiencing a significant impact to its business as a result of the global economic impact, including any economic downturn or recession that has occurred or may occur in the future. As a result of the impact of COVID-19 on capital markets, the availability, amount, and type of financing available to the Company in the near future is uncertain and cannot be assured and is largely dependent upon evolving market conditions and other factors. The Company intends to continue to monitor the situation and may adjust its current business plans as more information and guidance become available. |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Accounting Policies [Abstract] | |
actual tax benefit | The provision for Federal income tax As of July 31, 2021 As of January 31, 2021 Non-current deferred tax assets: Net operating loss carry forward $ (15,533) (7,205) Valuation allowance $ 15,533 7,205 Net deferred tax assets $ - - The actual tax benefit Six months ended July 31, 2021 Six months ended July 31, 2020 Computed “expected” tax expense (benefit) $ (8,328) (3,863) Change in valuation allowance $ 8,328 3,863 Actual tax expense (benefit) $ - - |
actual tax benefit | The actual tax benefit Six months ended July 31, 2021 Six months ended July 31, 2020 Computed “expected” tax expense (benefit) $ (8,328) (3,863) Change in valuation allowance $ 8,328 3,863 Actual tax expense (benefit) $ - - |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | Jul. 31, 2021 | Jan. 31, 2021 |
Related Party Transactions [Abstract] | ||
sole director has loaned | $ 72,015 | $ 36,135 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) | Jul. 31, 2021USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
rentel monthly fee | $ 267 |
actual tax benefit (Details)
actual tax benefit (Details) - USD ($) | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jan. 31, 2021 | |
Non-current deferred tax assets: | |||
Net operating loss carry forward | $ (15,533) | $ (7,205) | |
Valuation allowance | 15,533 | 7,205 | |
Net deferred tax assets | |||
Computed “expected” tax expense (benefit) | (8,328) | $ (3,863) | |
Change in valuation allowance | 8,328 | 3,863 | |
Actual tax expense (benefit) |