RELATED PARTY BALANCES AND TRANSACTIONS |
6 Months Ended |
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Sep. 30, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY BALANCES AND TRANSACTIONS | NOTE 4 - RELATED PARTY BALANCES AND TRANSACTIONS
The Company has been provided office space by its president at no cost. The management determined that such cost is nominal and did not recognize the rent expense in its financial statements.
On December 13, 2019, the Company borrowed $40,000 from our shareholder, Northern Ifurniture Inc. which is 100% owned by the President of the Company, bearing no interest and due on demand. During the six months ended September 30, 2021, the Company received additional loan of $14,470 from the President of the Company. During the year ended March 31, 2022, the Company received loan of $26,630 from Northern Ifuniture Inc., an entity under the common control. During the three months ended September 30, 2022, the Company received additional loan of $1,266 from the President. As of September 30, 2022 and March 31, 2022, the balance of shareholder loans was in the amount of $82,366 and $81,100, respectively. Such loans are non-interest-bearing, unsecured and due on demand.
During the three months ended September 30, 2022 and 2021, the Company purchased inventories in the amount of $11,266 and $from Northern Efurniture, Inc., an entity which is owned by the husband of our President.
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