Caro (CAHO) 10-Q21 Feb 232023 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Dec. 31, 2022	Feb. 19, 2023
Cover [Abstract]
Entity Registrant Name	CARO HOLDINGS INC.
Entity Central Index Key	0001678105
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Small Business	true
Entity Shell Company	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Dec. 31, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Entity Common Stock Shares Outstanding		60,000,000
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	333-212268
Entity Incorporation State Country Code	NV
Entity Address Address Line 1	7 Castle Street
Entity Address City Or Town	Sheffield
Entity Address Postal Zip Code	S3 8LT
City Area Code	786
Local Phone Number	755-3210
Entity Interactive Data Current	Yes
Entity Address Country	GB

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2022	Mar. 31, 2022
Current Assets
Cash	$ 46,369	$ 0
Total Current Assets	46,369	0
TOTAL ASSETS	46,369	0
Current Liabilities
Accounts payable and accrued liabilities	20,554	20,203
Accrued interest	1,885	0
Due to related parties	52,321	1,800
Promissory note	25,000	0
Convertible notes	183,333	0
Total Current Liabilities	283,093	22,003
TOTAL LIABILITIES	283,093	22,003
Stockholders' Deficit
Preferred stock: 75,000,000 authorized; $0.00001 par value. No shares issued and outstanding	0	0
Common stock: 75,000,000 authorized; $0.00001 par value. 40,000,000 shares issued and outstanding	400	400
Additional paid-in capital	185,028	185,028
Accumulated deficit	(420,445)	(207,431)
Accumulated other comprehensive loss	(1,707)	0
Total Stockholders' Deficit	(236,724)	(22,003)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 46,369	$ 0

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2022	Mar. 31, 2022
Stockholders' Deficit
Preferred stock, shares authorized	75,000,000	75,000,000
Preferred stock, shares par value	$ 0.00001	$ 0.00001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares par value	$ 0.00001	$ 0.00001
Common stock, shares issued	40,000,000	40,000,000
Common stock, shares outstanding	40,000,000	40,000,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Operating Expenses
General and administration	$ 4,394	$ 283	$ 4,394	$ 18,892
Professional fees	49,109	8,850	85,556	24,520
Research and development	49,453	0	49,453	0
Total operating expenses	102,956	9,133	139,403	43,412
Loss from operations	(102,956)	(9,133)	(139,403)	(43,412)
Other income (expense)
Interest expense	(75,218)	0	(75,218)	0
Foreign exchange gain	1,607	0	1,607	0
Total other income (expense)	(73,611)	0	(73,611)	0
Net loss before taxes	(176,567)	(9,133)	(213,014)	(43,412)
Provision for income taxes	0	0	0	0
Net loss	(176,567)	(9,133)	(213,014)	(43,412)
Other comprehensive loss	(1,707)		(1,707)
Comprehensive Loss	$ (178,274)	$ (9,133)	$ (214,721)	$ (43,412)
Net Loss Per Common Share - Basic and Diluted	$ (0.01)	$ 0	$ (0.01)	$ (0.01)
Weighted Average Common Shares Outstanding	40,000,000	7,705,000	40,000,000	7,705,000

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS DEFICIT (Unaudited) - USD ($)	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other comprehensive loss
Balance, shares at Mar. 31, 2021		7,705,000
Balance, amount at Mar. 31, 2021	$ (96,282)	$ 77	$ 49,973	$ (146,332)
Net loss	(19,179)	$ 0	0	(19,179)
Balance, shares at Jun. 30, 2021		7,705,000
Balance, amount at Jun. 30, 2021	(115,461)	$ 77	49,973	(165,511)
Balance, shares at Mar. 31, 2021		7,705,000
Balance, amount at Mar. 31, 2021	(96,282)	$ 77	49,973	(146,332)
Net loss	(43,412)
Balance, shares at Dec. 31, 2021		7,705,000
Balance, amount at Dec. 31, 2021	(139,694)	$ 77	49,973	(189,744)
Balance, shares at Jun. 30, 2021		7,705,000
Balance, amount at Jun. 30, 2021	(115,461)	$ 77	49,973	(165,511)
Net loss	(15,100)	$ 0	0	(15,100)
Balance, shares at Sep. 30, 2021		7,705,000
Balance, amount at Sep. 30, 2021	(130,561)	$ 77	49,973	(180,611)
Net loss	(9,133)	$ 0	0	(9,133)
Balance, shares at Dec. 31, 2021		7,705,000
Balance, amount at Dec. 31, 2021	(139,694)	$ 77	49,973	(189,744)
Balance, shares at Mar. 31, 2022		40,000,000
Balance, amount at Mar. 31, 2022	(22,003)	$ 400	185,028	(207,431)	$ 0
Net loss	(10,572)	$ 0	0	(10,572)	0
Balance, shares at Jun. 30, 2022		40,000,000
Balance, amount at Jun. 30, 2022	(32,575)	$ 400	185,028	(218,003)	0
Balance, shares at Mar. 31, 2022		40,000,000
Balance, amount at Mar. 31, 2022	(22,003)	$ 400	185,028	(207,431)	0
Net loss	(213,014)
Other comprehensive loss	(1,707)
Balance, shares at Dec. 31, 2022		40,000,000
Balance, amount at Dec. 31, 2022	(236,724)	$ 400	185,028	(420,445)	(1,707)
Balance, shares at Jun. 30, 2022		40,000,000
Balance, amount at Jun. 30, 2022	(32,575)	$ 400	185,028	(218,003)	0
Net loss	(25,875)	$ 0	0	(25,875)	0
Balance, shares at Sep. 30, 2022		40,000,000
Balance, amount at Sep. 30, 2022	(58,450)	$ 400	185,028	(243,878)	0
Net loss	(176,567)	0	0	(176,567)	0
Other comprehensive loss	(1,707)	$ 0	0	0	(1,707)
Balance, shares at Dec. 31, 2022		40,000,000
Balance, amount at Dec. 31, 2022	$ (236,724)	$ 400	$ 185,028	$ (420,445)	$ (1,707)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Cash Flows from Operating Activities:
Net loss	$ (213,014)	$ (43,412)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss on convertible notes	73,333	0
Changes in operating assets and liabilities:
Prepaid expenses	0	2,500
Accounts payable and accrued liabilities	48,896	40,421
Accured interest	1,885	0
Net Cash Used in Operating Activities	(88,900)	(491)
Cash Flows from Financing Activities:
Proceeds from issuance of promissory note	25,000	0
Proceeds from issuance of convertible notes	110,000	0
Advancement from related party	1,976	500
Net Cash Provided by Financing Activities	136,976	500
Effects on changes in foreign exchange rate	(1,707)	0
Net Changes in Cash	46,369	9
Cash, beginning of period	0	1,429
Cash, end of period	46,369	1,438
Supplemental Disclosure Information:
Cash paid for interest	0	0
Cash paid for taxes	0	0
Non-Cash Investing and Financing Activities:
Operating expenses paid by related parties	$ 50,345	$ 41,300

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	9 Months Ended
ORGANIZATION AND DESCRIPTION OF BUSINESS	Dec. 31, 2022
ORGANIZATION AND DESCRIPTION OF BUSINESS
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS Caro Holdings Inc. (the “Company”) was incorporated in the State of Nevada on March 29, 2016 and engaged in the subscription box business with initial focus on offering sock subscriptions to its customers. The Company is now engaged in the development of its Direct To Consumer systems and methodologies where the Company analyzes the marketplace and work with mid-size brands that have a strong bricks and mortar presence, and have a desire to increase their digital presence. Effective April 28, 2022, Rozh Caroro, the previous sole director, CEO and majority shareholder of the Company, entered into a stock purchase agreement for the sale of 36,795,000 shares of Common Stock of the Company to Christopher McEachnie. As a result of the stock transfer, Mr. McEachnie holds approximately 92% of the issued and outstanding shares of Common Stock of the Company, and as such he is able to unilaterally control the election of our board of directors, all matters upon which shareholder approval is required and, ultimately, the direction of our Company. Also effective April 25, 2022, the previous sole officer and director of the Company, Rozh Caroro, resigned her positions with the Company. Upon her resignation, Mr. McEachnie was appointed as Chief Executive Officer, Treasurer and Secretary, and sole Director of the Company. On September 21 2022, the Company incorporated a subsidiary Caro Holdings International Ltd. in UK. To streamline operations, hire employees, consultants and contractors including the payment of payroll taxes and the collection of local VAT, Caro Holdings International Ltd, has been established. The subsidiary is currently enhancing the ecommerce software that will allow the Small and Medium sized Business (SMB) community to sell, market and distribute their products. The company intends to create subsidiaries in markets where it perceives a significant sales opportunity. The Company is located at 7 Castle Street, Sheffield, UK.

GOING CONCERN UNCERTAINTY

GOING CONCERN UNCERTAINTY	9 Months Ended
GOING CONCERN UNCERTAINTY	Dec. 31, 2022
GOING CONCERN UNCERTAINTY
GOING CONCERN UNCERTAINTY	NOTE 2 – GOING CONCERN UNCERTAINTY As reflected in the accompanying financial statements, the Company has an accumulated deficit of $420,445, and a net loss of $213,014 for the nine months ended December 31, 2022. The Company did not generate revenues during the nine months ended December 31, 2022. These factors among others raise substantial doubt about our ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent on its ability to raise additional capital and implement its business plan. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management believes that the current actions to obtain additional funding and implement its strategic plans provide the opportunity for the Company to continue as a going concern. There are no assurances that additional funds will be available when needed from any source or, if available, will be available on terms that are acceptable to us.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles used in the United States of America (“US GAAP”) and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. This report should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended March 31, 2022 included in the Company’s Annual Report on Form 10-K as filed with the SEC on October 17, 2022. Basis of Consolidation These unaudited interim consolidated financial statements include the accounts of the Company and the wholly-owned subsidiary Caro Holdings International, Ltd.. All material intercompany balances and transactions have been eliminated. Foreign Currency Translations The Company’s functional and reporting currency is the U.S. dollar. Caro Holdings International, Ltd.’s functional currency is the Great British Pounds (GBP). All transactions initiated in GBP are translated into U.S. dollars in accordance with ASC 830-30, ” 1) Monetary assets and liabilities at the rate of exchange in effect at the balance sheet date. 2) Equity at historical rates. 3) Revenue and expense items at the average rate of exchange prevailing during the period. Adjustments arising from such translations are deferred until realization and are included as a separate component of stockholders’ equity as a component of comprehensive income or loss. Therefore, translation adjustments are not included in determining net income (loss) but reported as other comprehensive income (loss). Gains and losses from foreign currency transactions are included in earnings in the period of settlement. Nine Months Ended Nine Months Ended December 31, December 31, 2022 2021 Spot GBP: USD exchange rate 1.2051 n/a Average GBP: USD exchange rate 1.1749 n/a 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. Reclassifications Certain prior period amounts have been reclassified to conform with the current period presentation. The reclassification had no impact on net loss and financial position. Related Parties We follow ASC 850, “Related Party Disclosures”, Fair Value of Financial Instruments The Company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures,” which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The estimated fair value of certain financial instruments, including accounts payable and accrued liabilities. are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. The carrying amounts of our short term credit obligations approximate fair value because the effective yields on these obligations, which include contractual interest rates taken together with other features such as embedded conversion options, are comparable to rates of returns for instruments of similar credit risk. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 - quoted prices in active markets for identical assets or liabilities Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 - inputs that are unobservable (for example cash flow modeling inputs based on assumptions) Convertible Note The Company follows ASC 480-10, Distinguishing Liabilities from Equity (“ASC 480-10”) in its evaluation of the accounting for a hybrid instrument. A financial instrument that embodies an unconditional obligation, or a financial instrument other than an outstanding share that embodies a conditional obligation, that the issuer must or may settle by issuing a variable number of its equity shares shall be classified as a liability (or an asset in some circumstances) if, at inception, the monetary value of the obligation is based solely or predominantly on any one of the following: (a) a fixed monetary amount known at inception; (b) variations in something other than the fair value of the issuer’s equity shares; or (c) variations inversely related to changes in the fair value of the issuer’s equity shares. Hybrid instruments meeting these criteria are not further evaluated for any embedded derivatives. The Company records each convertible note as a liability at the fixed monetary amount by measuring and recording a premium, as applicable, on the note issuance date with a charge to interest expense in the accompanying consolidated statements of operations and comprehensive loss. Web Development Cost In accordance with FASB ASC 350-50 “Web Development Costs”, all costs incurred during the website planning stage are incurred. During the website application and infrastructure development stage, software tool costs and internet domain costs are capitalized, and website hosting costs are expensed. Cost incurred in the graphics development, content development and operating stage are generally expensed unless the costs are software related and should then be capitalized. During the nine ended December 31, 2022, the Company incurred $6,463 web development cost. Net Income (Loss) per Share The Company computes basic and diluted net loss per share amounts in accordance with ASC Topic 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 shares of common stock outstanding during the reporting period. Diluted loss per share reflects the potential dilution that could occur if convertible notes to issue common stock were converted resulting in the issuance of common stock that could share in the loss of the Company. For the nine months ended December 31, 2022 and 2021, convertible notes were dilutive instruments and were not included in the calculation of diluted loss per share as their effect would be antidilutive. December 31, December 31, 2022 2021 (Shares) (Shares) Convertible notes payable 183,333 - Recently Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, ASC Subtopic 470-20 “Debt—Debt with “Conversion and Other Options” and ASC subtopic 815-40 “Hedging—Contracts in Entity’s Own Equity”. The standard reduced the number of accounting models for convertible debt instruments and convertible preferred stock. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting; and, (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. The amendments in this update are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is currently assessing the impact of the adoption of this standard on its consolidated financial statements.

PROMISSORY NOTE

PROMISSORY NOTE	9 Months Ended
PROMISSORY NOTE	Dec. 31, 2022
PROMISSORY NOTE
PROMISSORY NOTE	NOTE 4 – PROMISSORY NOTE On October 9, 2022, the Company issued a promissory note to an unaffiliated party at principal amount of $25,000. The note bears interest at 8% per annum and matures in six months from the issuance date. As of December 31, 2022and March 31, 2022, the promissory note payable was $25,000 and $0, respectively. As of December 31, 2022 and March 31, 2022, the accrued interest payable was $455 and 0, respectively.

CONVERTIBLE NOTES

CONVERTIBLE NOTES	9 Months Ended
CONVERTIBLE NOTES	Dec. 31, 2022
CONVERTIBLE NOTES
CONVERTIBLE NOTES	NOTE 5 – CONVERTIBLE NOTES As of December 31, 2022 and March 31, 2022, the convertible note payable was $183,333 and $0, respectively. On October 13, 2022, the Company entered into an agreement to issue a convertible promissory note to an unaffiliate for an amount of $20,000 The convertible promissory note bears interest at 10% per annum and matures six months from the issuance date. The conversion price is 60% of the average VWAP of the Company’s’ stock during the previous 15 trading days prior to conversion. Debt premium of $13,333 was recognized as a loss on convertible note and charged to interest expense. As of December 31, 2022, the balance of convertible note was $33,333. On November 8, 2022, the Company entered into an agreement to issue a convertible promissory note to an unaffiliate for an amount of $70,000 The convertible promissory note bears interest at 8% per annum and matures one year from the issuance date. The conversion price is 60% of the average VWAP of the Company’s stock during the previous 15 trading days prior to conversion. Debt premium of $46,667 was recognized as a loss on convertible note and charged to interest expense. As of December 31, 2022, the balance of convertible note was $116,667. On November 19, 2022, the Company entered into an agreement to issue a convertible promissory note to an unaffiliate for an amount of $20,000. The convertible promissory note bears interest at 8% per annum and matures six months from the issuance date. The conversion price is 60% of the average VWAP of the Company’s stock during the previous 15 trading days prior to conversion. Debt premium of $13,333 was recognized as a loss on convertible note and charged to interest expense. As of December 31, 2022, the balance of convertible note was $33,333. Accrued interest on convertible notes During the nine months ended December 31, 2022 and 2021, interest expense of $ 74,763 (including $73,333 loss on convertible notes charged to interest expense as described above) and $0 was incurred on convertible notes, respectively. As of December 31, 2022 and March 31, 2022, accrued interest payable on convertible notes was $1,430 and $0, respectively.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2022
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 6 – RELATED PARTY TRANSACTIONS During the nine months ended December 31, 2022, the director and Chief Executive Officer (“CEO”) of the Company paid $50,345 on behalf of the Company for business operation purpose. During the nine months ended December 31, 2022, the director and Chief Operating Officer (“COO”) of the Company advanced $1,976 (GBP1,640) to the subsidiary of the Company for operation purpose. As of December 31, 2022 and March 31, 2022, there was $52,321 due to the current directors and CEO of the Company and $1,800 due to the former director and CEO of the Company, respectively.

EQUITY

EQUITY	9 Months Ended
EQUITY	Dec. 31, 2022
EQUITY
EQUITY	NOTE 7 – EQUITY Authorized Stock The Company’s authorized common stock consists of 75,000,000 shares at $0.00001 par value. Common Stock As of December 31, 2022 and March 31, 2022, the issued and outstanding common stock was 40,000,000 shares.

RISKS AND UNCERTAINTIES

RISKS AND UNCERTAINTIES	9 Months Ended
RISKS AND UNCERTAINTIES	Dec. 31, 2022
RISKS AND UNCERTAINTIES
RISKS AND UNCERTAINTIES	NOTE 8 – RISKS AND UNCERTAINTIES In early 2020, the World Health Organization declared the rapidly spreading coronavirus disease (COVID-19) outbreak a pandemic. This pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no material adverse impacts on the Company’s results of operations and financial position at December 31, 2022. The full extent of the future impacts of COVID-19 on the Company’s operations is uncertain. A prolonged outbreak could have a material adverse impact on financial results and business operations of the Company in the future. The Company is not may

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 9 – SUBSEQUENT EVENTS In accordance with ASC 855-10, the Company has analyzed its operations subsequent to the December 31, 2022 to the date these financial statements were issued and has determined that it has the following material subsequent events: On December 29, 2022, the Company entered into a software license agreement with Noise Comms Ltd. for the acquisition of Unified Communications Platform which enables multi-party communications between brands and consumers in consideration of 20,000,000 shares of common stock and 100 preferred A shares. For the last six years, the director and COO of the Company has been operating Noise Comms Ltd and is the sole shareholder, COO and director. As of December 31, 2022, the transaction was not closed, and the ownership control of the software has not been transferred. On January 9, 2023, the Company issued 20,000,000 shares of common stock to Noise Comms Ltd. As at the date of this filing, 100 preferred A shares have not been issued. On December 31, 2022, the Company entered into a board resolution with the director and CEO of the Company for the cancellation of 36,865,000 shares of common stock. As at the date of this filing, the cancellation of the common stock transaction has not been completed.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles used in the United States of America (“US GAAP”) and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. This report should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended March 31, 2022 included in the Company’s Annual Report on Form 10-K as filed with the SEC on October 17, 2022.
Basis of Consolidation	These unaudited interim consolidated financial statements include the accounts of the Company and the wholly-owned subsidiary Caro Holdings International, Ltd.. All material intercompany balances and transactions have been eliminated.
Foreign Currency Translations	The Company’s functional and reporting currency is the U.S. dollar. Caro Holdings International, Ltd.’s functional currency is the Great British Pounds (GBP). All transactions initiated in GBP are translated into U.S. dollars in accordance with ASC 830-30, ” 1) Monetary assets and liabilities at the rate of exchange in effect at the balance sheet date. 2) Equity at historical rates. 3) Revenue and expense items at the average rate of exchange prevailing during the period. Adjustments arising from such translations are deferred until realization and are included as a separate component of stockholders’ equity as a component of comprehensive income or loss. Therefore, translation adjustments are not included in determining net income (loss) but reported as other comprehensive income (loss). Gains and losses from foreign currency transactions are included in earnings in the period of settlement. Nine Months Ended Nine Months Ended December 31, December 31, 2022 2021 Spot GBP: USD exchange rate 1.2051 n/a Average GBP: USD exchange rate 1.1749 n/a
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.
Reclassifications	Certain prior period amounts have been reclassified to conform with the current period presentation. The reclassification had no impact on net loss and financial position.
Related Parties	We follow ASC 850, “Related Party Disclosures”,
Fair Value of Financial Instruments	The Company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures,” which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The estimated fair value of certain financial instruments, including accounts payable and accrued liabilities. are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. The carrying amounts of our short term credit obligations approximate fair value because the effective yields on these obligations, which include contractual interest rates taken together with other features such as embedded conversion options, are comparable to rates of returns for instruments of similar credit risk. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 - quoted prices in active markets for identical assets or liabilities Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 - inputs that are unobservable (for example cash flow modeling inputs based on assumptions)
Convertible Note Recognition	The Company follows ASC 480-10, Distinguishing Liabilities from Equity (“ASC 480-10”) in its evaluation of the accounting for a hybrid instrument. A financial instrument that embodies an unconditional obligation, or a financial instrument other than an outstanding share that embodies a conditional obligation, that the issuer must or may settle by issuing a variable number of its equity shares shall be classified as a liability (or an asset in some circumstances) if, at inception, the monetary value of the obligation is based solely or predominantly on any one of the following: (a) a fixed monetary amount known at inception; (b) variations in something other than the fair value of the issuer’s equity shares; or (c) variations inversely related to changes in the fair value of the issuer’s equity shares. Hybrid instruments meeting these criteria are not further evaluated for any embedded derivatives. The Company records each convertible note as a liability at the fixed monetary amount by measuring and recording a premium, as applicable, on the note issuance date with a charge to interest expense in the accompanying consolidated statements of operations and comprehensive loss.
Web Development Cost	In accordance with FASB ASC 350-50 “Web Development Costs”, all costs incurred during the website planning stage are incurred. During the website application and infrastructure development stage, software tool costs and internet domain costs are capitalized, and website hosting costs are expensed. Cost incurred in the graphics development, content development and operating stage are generally expensed unless the costs are software related and should then be capitalized. During the nine ended December 31, 2022, the Company incurred $6,463 web development cost.
Net Income (Loss) per Share	The Company computes basic and diluted net loss per share amounts in accordance with ASC Topic 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 shares of common stock outstanding during the reporting period. Diluted loss per share reflects the potential dilution that could occur if convertible notes to issue common stock were converted resulting in the issuance of common stock that could share in the loss of the Company. For the nine months ended December 31, 2022 and 2021, convertible notes were dilutive instruments and were not included in the calculation of diluted loss per share as their effect would be antidilutive. December 31, December 31, 2022 2021 (Shares) (Shares) Convertible notes payable 183,333 -
Recently Accounting Pronouncements	In August 2020, the FASB issued ASU 2020-06, ASC Subtopic 470-20 “Debt—Debt with “Conversion and Other Options” and ASC subtopic 815-40 “Hedging—Contracts in Entity’s Own Equity”. The standard reduced the number of accounting models for convertible debt instruments and convertible preferred stock. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting; and, (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. The amendments in this update are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is currently assessing the impact of the adoption of this standard on its consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Table)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Table)	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Net Income (Loss) per Share	December 31, December 31, 2022 2021 (Shares) (Shares) Convertible notes payable 183,333 -
Schedule of Foreign currency transactions	Nine Months Ended Nine Months Ended December 31, December 31, 2022 2021 Spot GBP: USD exchange rate 1.2051 n/a Average GBP: USD exchange rate 1.1749 n/a

ORGANIZATION AND DESCRIPTION _2

ORGANIZATION AND DESCRIPTION OF BUSINES (Details Narrative) - Christopher Mc Eachnie [Member]	1 Months Ended
	Apr. 28, 2022 shares
Purchase of common share	36,795,000
Share acquired of common stock	92%

GOING CONCERN UNCERTAINTY (Deta

GOING CONCERN UNCERTAINTY (Details Narrative) - USD ($)	9 Months Ended
GOING CONCERN UNCERTAINTY (Details Narrative) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2022
GOING CONCERN UNCERTAINTY
Net loss	$ (213,014)	$ (43,412)
Accumulated deficit	$ (420,445)		$ (207,431)

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Dec. 31, 2022	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Spot GBP: USD exchange rate	1.2051	0
Average GBP: USD exchange rate	1.1749	0

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1)	Dec. 31, 2022 shares
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Antidilutive Securities Computation of Earnings Per Share, Amount	183,333

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	9 Months Ended
	Dec. 31, 2022 USD ($)
Web Development
Development costs	$ 6,463

PROMISSORY NOTE (Details Narrat

PROMISSORY NOTE (Details Narrative) - USD ($)	Dec. 31, 2022	Oct. 09, 2022	Mar. 31, 2022
PROMISSORY NOTE
Promissory note payable	$ 25,000		$ 0
Promissory note principal amount		$ 25,000
Promissory note bears interest rate		8%
Accrued interest payable	$ 455		$ 0

CONVERTIBLE NOTES (Details Narr

CONVERTIBLE NOTES (Details Narrative) - USD ($)			1 Months Ended	3 Months Ended		9 Months Ended
CONVERTIBLE NOTES (Details Narrative) - USD ($)	Nov. 08, 2022	Oct. 13, 2022	Nov. 19, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2022
Convertible note payable				$ 183,333		$ 183,333		$ 0
Interest expense				75,218	$ 0	75,218	$ 0
Convertible Notes Payable
Interest expense						74,763	$ 0
Accrued interest payable				1,430		1,430		$ 0
Description of conversion price		The conversion price is 60% of the average VWAP of the Company’s’ stock during the previous 15 trading days prior to conversion
Debt premium		$ 13,333
Convertible note				33,333		33,333
Unaffiliate amount		$ 20,000
Bears interest rate		10%
Convertible Notes Payable One
Description of conversion price	The conversion price is 60% of the average VWAP of the Company’s stock during the previous 15 trading days prior to conversion
Debt premium	$ 46,667
Convertible note				116,667		116,667
Unaffiliate amount	$ 70,000
Bears interest rate	8%
Convertible Notes Payable Two
Description of conversion price			The conversion price is 60% of the average VWAP of the Company’s stock during the previous 15 trading days prior to conversion
Debt premium			$ 13,333
Convertible note				$ 33,333		$ 33,333
Unaffiliate amount			$ 20,000
Bears interest rate			8%

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	9 Months Ended
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Dec. 31, 2022	Mar. 31, 2022
Due to related party	$ 52,321	$ 1,800
Chief Executive Officer
Operating expenses paid by related partys	50,345
Chief Operating Officer
Operating expenses paid by related partys	$ 1,976

EQUITY (Details Narrative)

EQUITY (Details Narrative) - $ / shares	Dec. 31, 2022	Mar. 31, 2022
EQUITY
Common stock authorized	75,000,000	75,000,000
Common shares at par value	$ 0.00001	$ 0.00001
Common share issued	40,000,000	40,000,000
Common share outstanding	40,000,000	40,000,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - shares		9 Months Ended
SUBSEQUENT EVENTS (Details Narrative) - shares	Jan. 09, 2023	Dec. 31, 2022	Dec. 29, 2022
Software license agreement [Member] \| Common Share [Member]
Stock purchase agreement			20,000,000
Software license agreement [Member] \| Preferred Share A [Member]
Stock purchase agreement			100
Subsequent event [Member]
Stock issued	20,000,000
Director and CEO [Member]
Cancellation of stock		36,865,000