SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) |
9 Months Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 | ||||||||||||||||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||||||||
| Basis of Presentation | The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). |
|||||||||||||||
| New Accounting Pronouncements | Management continues to evaluate the impact of recently issued but not yet effective accounting pronouncements, and will adopt them as required. No recently issued accounting standards are expected to have a significant impact on the Company’s financial statements. |
|||||||||||||||
| Use of Estimates | The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from these estimates. |
|||||||||||||||
| Cash and Cash Equivalents | The Company considers all highly liquid investments with an original maturity of three months or less at the date of acquisition to be cash equivalents. As of June 30, 2025, the Company’s cash and cash equivalents consist primarily of deposits with financial institutions. |
|||||||||||||||
| Foreign Currency Translation | The Company’s functional currency is the U.S. dollar. Transactions denominated in currencies other than the U.S. dollar are recorded at the exchange rate in effect on the date of the transaction. Monetary assets and liabilities in foreign currencies are remeasured at the end of each reporting period using the prevailing exchange rate. Any resulting foreign exchange gains or losses are included in the statement of operations under “Foreign Exchange Gain/Loss.” When a foreign currency account is settled or closed, any remaining balance due to cumulative exchange rate differences is recognized in the period in which the settlement occurs. |
|||||||||||||||
| Intangible Assets | The Company capitalizes costs directly attributable to the acquisition and development of intangible assets. The Company’s website is considered a finite-lived intangible asset and is recorded at its historical cost of $3,000, less accumulated amortization and any impairment losses. As of June 30, 2025, the website’s net carrying value was $2,700, reflecting accumulated amortization of $300. The website is being amortized on a straight-line basis over an estimated useful life of five years. |
|||||||||||||||
| Amortization of Intangible Assets | Finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives. The Company amortizes the website cost over five years, with amortization calculated and recorded monthly. This results in a monthly amortization expense of $50, recognized in the Statement of Operations. The Company periodically reviews the estimated useful lives and amortization methods to ensure they remain appropriate and reflect the assets’ expected consumption of economic benefits. |
|||||||||||||||
| Revenue Recognition | The Company recognizes revenue in accordance with Accounting Standards Codification (ASC) 606 – Revenue from Contracts with Customers. Under this standard, revenue is recognized when control of a promised good or service is transferred to the customer in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services.
During the three months ended June 30, 2025, the Company did not recognize revenue. For the nine months ended June 30, 2025, the Company recognized $10,000 from architectural and design services.
The Company evaluates each contract to determine:
|
|||||||||||||||
| Income Taxes | The Company accounts for income taxes under the asset‑and‑liability method prescribed by ASC 740, Income Taxes. Deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the financial‑statement carrying amounts of assets and liabilities and their respective tax bases, as well as for operating‑loss and tax‑credit carryforwards. A valuation allowance is recorded when it is more‑likely‑than‑not that some portion of the deferred tax assets will not be realized.
As of June 30, 2025, the Company incurred a net loss for the period; accordingly, no current tax expense was recorded. Any deferred tax effects and NOLs will be assessed upon filing the returns. |
|||||||||||||||
| Fair Value of Financial Instruments | Accounting Standards Codification (“ASC”) 825, “Disclosures about Fair Value of Financial Instruments,” requires the disclosure of fair value information for certain financial instruments. ASC 820, “Fair Value Measurements,” defines fair value, establishes a framework for measuring fair value in accordance with GAAP, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon market assumptions and pertinent information available to management as of June 30, 2025. |
|||||||||||||||
| Earnings per Share | The Company follows the guidance of ASC 260, “Earnings Per Share,” which governs the calculation, presentation, and disclosure of earnings (loss) per share for entities with publicly traded common stock.
Basic loss per common share is calculated by dividing the net loss by the weighted average number of common shares outstanding during the reporting period. Since the Company has no dilutive securities, diluted loss per share is identical to basic loss per share. |
|||||||||||||||
| Rounding Policy | All amounts in these financial statements are presented in U.S. dollars and rounded to the nearest dollar, unless otherwise indicated. |