Brilliant N.e.v. (CCYC) 10-K14 Nov 232023 FY Annual reportFinancial data

Company Profile

Cover

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Jul. 31, 2023	Nov. 14, 2023	Jan. 31, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Jul. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--07-31
Entity File Number	333-213698
Entity Registrant Name	BRILLIANT N.E.V. CORP.
Entity Central Index Key	0001681769
Entity Tax Identification Number	30-0944559
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	Room 805
Entity Address, Address Line Two	West Building 4
Entity Address, Address Line Three	Xintiandi Business Center
Entity Address, City or Town	Gongshu District, Hangzhou City
Entity Address, Country	CN
Entity Address, Postal Zip Code	310000
Country Region	86
City Area Code	189
Local Phone Number	1098-4577
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	true
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		153,105,464
Documents Incorporated by Reference [Text Block]	None
Document Financial Statement Error Correction [Flag]	false
Auditor Name	RH CPA
Auditor Firm ID	6398
Auditor Location	Bayside, New York

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jul. 31, 2023	Jul. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 1,302	$ 1,435
Prepaid expenses		212
Current assets of discontinued operations		18,076
Total current assets	1,302	19,723
OTHER ASSETS
Operating lease right of use – building	0	1,380
Non-current assets of discontinued operations		61,687
TOTAL ASSETS	1,302	82,790
CURRENT LIABILITIES:
Accounts payable	2,321
Advances - related party	4,382	115,219
Operating lease liability – current		20,820
Liabilities of discontinued operations		444,908
TOTAL CURRENT LIABILITIES	6,703	580,947
TOTAL LIABILITIES	6,703	580,947
Commitments and Contingencies
STOCKHOLDERS DEFICIT
Common Stock, 0.001 par value, authorized 345,000,000 shares, 153,105,464 shares issued and outstanding as of July 31, 2023 and July 31, 2022	153,105	153,105
Additional paid in capital	114,333	213,251
Accumulated other comprehensive income (loss)		12,058
Accumulated deficit	(272,839)	(876,571)
TOTAL STOCKHOLDERS DEFICIT	(5,401)	(498,157)
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	$ 1,302	$ 82,790

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jul. 31, 2023	Jul. 31, 2022
Statement of Financial Position [Abstract]
Common Stock, Par Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	345,000,000	345,000,000
Common Stock, Shares, Issued	153,105,464	153,105,464
Common Stock, Shares, Outstanding	153,105,464	153,105,464

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Jul. 31, 2023	Jul. 31, 2022
Income Statement [Abstract]
Revenues
Cost of goods sold
Gross profit (loss)
EXPENSES
Professional fees	38,200	26,750
General and administrative Expenses	14,171	14,984
TOTAL OPERATING EXPENSES	52,371	41,734
LOSS FROM CONTINUING OPERATIONS	(52,371)	(41,734)
LOSS FROM DISCONTINUED OPERATIONS	(240,219)	(338,916)
Net loss before tax	(292,590)	(380,650)
Provision for income taxes
NET LOSS	(292,590)	(380,650)
OTHER COMPREHENSIVE ITEM
Foreign currency translation gain (loss)	46,499	14,547
COMPREHENSIVE LOSS	$ (246,091)	$ (366,103)
NET LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS - BASIC	$ 0	$ 0
NET LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS - DILUTED	$ 0	$ 0
NET LOSS PER COMMON SHARE FROM DISCONTINUED OPERATIONS - BASIC	$ 0	$ 0
NET LOSS PER COMMON SHARE FROM DISCONTINUED OPERATIONS - DILUTED	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC	153,105,464	153,105,464
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED	153,105,464	153,105,464

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS? DEFICIT - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Jul. 31, 2021	$ 153,105	$ 213,251	$ (2,489)	$ (495,920)	$ (132,053)
Beginning Balance, shares at Jul. 31, 2021	153,105,464
Currency translation			14,547		14,547
Net loss – discontinued operations				(338,916)	(338,916)
Net loss – continuing operations				(41,734)	(41,734)
Ending balance, value at Jul. 31, 2022	$ 153,105	213,251	12,058	(876,571)	(498,157)
Ending Balance, shares at Jul. 31, 2022	153,105,464
Adjustments from discontinued operations		(98,918)	(58,557)	896,322	738,847
Currency translation			46,499		46,499
Net loss – discontinued operations				(240,219)	(240,219)
Net loss – continuing operations				(52,371)	(52,371)
Ending balance, value at Jul. 31, 2023	$ 153,105	$ 114,333		$ (272,839)	$ (5,401)
Ending Balance, shares at Jul. 31, 2023	153,105,464

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jul. 31, 2023	Jul. 31, 2022
OPERATING ACTIVITIES
Net loss from continuing operations	$ (52,371)	$ (41,734)
Net loss from discontinued operations	(240,219)	(338,916)
Adjustments to reconcile net cash used in operating activities:
Right-of-use/lease liability adjustments	(19,440)	6,480
Decrease in assets:
Change in prepaid expenses	212	188
Changes in deposit
Increase in liabilities:
Accounts payable	2,321	(2,088)
Increase in discontinued operations	373,702	5,720
Net cash provided (used) in continuing operation activities	(69,278)	(37,154)
Net cash provided (used) in discontinued operation activities	133,483	(333,196)
FINANCING ACTIVITIES:
Advances (debt adjustment)from related party - continuing operation	(110,837)	30,000
Advances from related party - discontinued operation		306,327
Total Net Cash Provided (used) by Financing Activities	(110,837)	336,327
EFFECT OF EXCHANGE RATE CHANGE ON CASH	46,499	(841)
NET INCREASE (DECREASE) IN CASH	(133)	(34,864)
CASH AT BEGINNING OF YEAR	1,435	54,375
CASH AT END OF YEAR – CONTINNUING OPERATIONS	1,032	1,435
CASH AT END OF YEAR – DISCONTINUED OPERATIONS		18,076
Supplemental Cash flow Information:
Interest Paid
Taxes Paid
Supplemental Disclosure of Non Cash Lease Activity:
Recognition of Right of use asset
Recognition of Lease liability

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	12 Months Ended
ORGANIZATION AND NATURE OF BUSINESS	Jul. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF BUSINESS	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Brilliant N.E.V. Corp. (formerly Clancy Corp.) (Company) was incorporated on March 22, 2016 under the laws of the State of Nevada, USA. The Company initially was formed for the purpose of producing and selling handcrafted soaps. Except where content requires, the Company includes its subsidiaries. On January 15, 2020, the Company filed a Certificate of Amendment to Articles of Incorporation with the Nevada Secretary of State which effectuated the following corporate actions: ● the forward split of the Companys issued and outstanding common stock, $0.001 par value, on thirty (30) post-split shares for a one (1) pre-split share basis applicable to stockholders of record as of January 2, 2020, ● The increase of the Companys authorized shares of common stock, $0.001 par value, from 75,000,000 345,000,000 The above corporate actions were adopted by written consent of our sole Director on January 2, 2020, and the sole Director recommended the Corporate Actions be presented to our shareholders for approval. On January 3, 2020, our majority stockholder, holding 64.4% of our outstanding voting securities executed written consent approving the stated corporate actions. For purposes of the forward stock split described above, the sole Director also set January 2, 2020 as the record date of such action. On March 31, 2020, a change of control occurred with respect to the Company. Pursuant to a Stock Purchase Agreement entered into by and among Clancy Corp, Gaoyang Liu (Seller), and Xiangying Meng (Buyer), Seller assigned, transferred and conveyed to Buyer 60,000,000 shares of common stock of Company ( Common Stock Brilliant N.E.V. Corp. (formerly Clancy Corp.) registered a wholly foreign-owned entity in Shanghai, China on April 13, 2020 named Shanghai Clancy Enterprise Management Co., Ltd. (Shanghai Clancy). Shanghai Clancy registered a wholly-owned subsidiary in Beijing on April 24, 2020. Its name is Beijing Clancy Information Technology Co., Ltd. (Beijing Clancy). In October 2023, the Company, Shanghai Clancy, and Honghsna Yuanda Limited (a company owned by Mr. Meng, the current Chief Financial Officer of the Company) entered an agreement to assign, transfer and convey all of its rights, titles and interest in and to Shanghai Clancy, along with its ownership of Beijing Clancy, to Hongshan Yuanda Limited. The effective date of this transfer is June 30, 2023. As of the date of transfer, Shanghai Clancy had no operations and no assets and all liabilities were assigned to the transferee. On July 6, 2020, the Nevada Secretary of State approved the Companys Certificate of Amendment to Articles of Incorporation with which effectuated the following corporate action: ● the reverse split of the Companys issued and outstanding common stock, $0.001 par value, on thirty (30) pre-split shares to one (1) post-split share basis. Fractional shares resulting from the action will be rounded up to the nearest whole share. The above corporate action was adopted by written consent of our sole Director on June 11, 2020, and the sole Director recommended the corporate action be presented to our shareholders for approval. For purposes of the reverse stock split described above, the sole Director also set June 12, 2020 as the record date of such action. On June 12, 2020, our majority stockholder, holding 91.88% of our outstanding voting securities, executed written consent in lieu of a shareholder meeting approving the corporate action. All shares disclosed in the financial statements and notes to the financial statements have been retroactively adjusted for the 30 for 1 reverse split. From August 1, 2020 to April 30, 2021, the Company business centered on providing IT services to a small number of clients. Beginning in May 2021, the Company terminated its IT services and re-focused its business operations to providing business consulting services to small and median sized businesses. Management believes their prior business experience will enable them to assist small and medium sized companies improve their operating efficiencies. The Company will charge its clients based on their performance. Management believes the new business model will reduce internal overhead costs and potentially provide a larger market for its services. In June 2023, the Companys former major shareholder and sole director Mr. Xiangying Meng and other shareholders, entered into a stock purchase agreement (SPA) with Mr. Guangzhe Su. Pursuant to the SPA, Mr. Guangzhe Su became the major shareholder and the Companys CEO. Due to the ownership change and pursuant to the SPA, the Company ceased the operations of its China subsidiaries. In July 2023, based on the majority shareholders approval, the Company changed its name from Clancy Corp. to Brilliant N.E.V Corp. The Company emended its Articles of Incorporation with the Nevada Secretary of State to effect the name change and also has filed an Issuer Company-Related Action Notification Form with FIBRA to reflect the change and applied for a new stock symbol.

GOING CONCERN

GOING CONCERN	12 Months Ended
GOING CONCERN	Jul. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 2 – GOING CONCERN The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. For the year ended July 31, 2023, the Company incurred loss, an accumulated deficit and experienced negative cash flow from operations. These conditions raise substantial doubt about the Companys ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Covid-19 pandemic presents novel challenges and a chaotic business environment globally. The duration and intensity of the impact of the Covid-19 to business entities differ geographically. Covid-19 has a limited impact on the Companys activities The impact on the Companys result of operation and the financial statements was immaterial as of July 31, 2023.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Jul. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION The consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP) and include the accounts of Brilliant N.E.V Corp. (formerly Clancy Corp.)and its wholly owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation. Fiscal year end The Companys year end is July 31 st 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. 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. Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts. 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. Cash and Cash Equivalents Cash and cash equivalents consist of all cash balances and highly liquid investments with original maturities of three months or less. Because of short maturity of these investments, the carrying amounts approximate their fair values. Concentration of Credit Risk The Company is exposed to credit risk in the normal course of business, primarily related to cash and cash equivalents. The cash is deposited in the institution insured by the Federal Deposit Insurance Corporation (FDIC). The Company has not experienced any losses in such accounts. Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (ROU) assets and operating lease liabilities in the consolidated balance sheets. Finance leases are included in finance lease ROU assets and finance lease liabilities in the consolidated balance sheets. ROU assets represent the Companys right to use an underlying asset for the lease term and lease liabilities represent the Companys obligation to make lease payments arising from the lease. Operating lease and finance lease ROU assets and liabilities recognized at July 31, 2023 and 2022 based on the present value of lease payments over the lease term discounted using the rate implicit in the lease. In cases where the implicit rate is not readily determinable, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has elected not to recognize operating lease ROU assets and liabilities arising from short-term leases. Reporting Currency and Translation The financial statements of the Companys foreign subsidiaries are measured using the local currency, Renminbi (RMB), as the functional currency; whereas the functional currency of Brilliant N.E.V Corp. (formerly Clancy Corp.)and reporting currency of the Company is the United States dollar (USD or $). The Company has discontinued operations in China where the local currency of RMB was used to prepare the financial statements which were translated into the Companys reporting currency, U.S. dollars. The local currency of RMB is the functional currency for the discontinued operations outside the United States. Changes in the exchange rates between this currency and the Companys reporting currency, are partially responsible for some of the periodic changes in the consolidated financial statements. Assets and liabilities of the Companys foreign operations are translated into U.S. dollars at the spot rate in effect at the applicable reporting date. Revenues and expenses of the Companys foreign discontinued operations are translated at the average exchange rate during the applicable period. The resulting unrealized cumulative translation adjustment is recorded as a component of accumulated other comprehensive income (loss) in stockholders deficit. Realized and unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entity are recorded in general and administrative expense in the period in which they occur. For the years ended July 31, July 31, 2023 and 2022 there were no realized or unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entities. The exchange rates used to translate amounts in RMB to USD for the purposes of preparing the consolidated financial statements were as follows: Schedule of exchange rates July 31, 2023 July 31, 2022 Period end USD: RMB exchange rate 7.13 6.74 Average USD: RMB exchange rate 7.02 6.50 Foreign Operations All of the Companys discontinued operations and assets are located in Beijing China. The Company may be adversely affected by possible political or economic events in this country. The effect of these factors cannot be accurately predicted. Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260 Earnings per Share. Basic (loss) per share is computed by dividing net income (loss) available to common stockholders 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. As of July 31, 2023, and 2023, there were no potentially dilutive equity instruments issued or outstanding. Comprehensive Income The Company follows Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) 220, Comprehensive Income, in reporting comprehensive income. Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income. The Company has one item of other comprehensive income, consisting of a foreign translation adjustment; however, the translation adjustment was immaterial for the years ending July 31, 2023 and 2022. Financial Instruments The carrying value of the Companys short-term financial instruments, such as accounts payable and advances, approximates their fair values because of their short maturities. Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options. Recently Adopted Accounting Pronouncements As of July 31, 2023, there are no recently issued accounting standards not yet adopted which would have a material effect on the Companys consolidated financial statements.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	12 Months Ended
DISCONTINUED OPERATIONS	Jul. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	NOTE 4 – DISCONTINUED OPERATIONS In June 2023, the Companys former major shareholder and sole director Mr. Xiangying Meng along with other shareholders, entered into a stock purchase agreement (SPA) with Mr. Guangzhe Su. Pursuant to the SPA, Mr. Guangzhe Su became the major shareholder and the Companys CEO. Due to the ownership change and pursuant to the SPA, the Company ceased the operations of its China subsidiaries in June 2023. The following table presents the components of discontinued operations in relation to the China subsidiaries reported in the statements of operations: Schedule of components of discontinued operations Years Ended July 31, 2023 2022 Net Sales - - Operating costs and expenses 240,269 338,989 Income (loss) from operations before other income and income taxes (240,269 ) (338,989 ) Other income (loss) 50 73 Income (loss) before income taxes, loss on equity investment, and non-controlling interest (240,219 ) (338,916 ) Income tax - - Income (loss) from discontinued operations (240,219 ) (338,916 ) Comprehensive income statement Net income (loss) from discontinued operations (240,219 ) (338,916 ) Foreign currency translation loss 46,499 14,547 Total comprehensive income (loss) from discontinued operations (193,720 ) (324,369 )

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Jul. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 5 – COMMITMENTS AND CONTINGENCIES On October 19, 2017 the Company entered into a five-year rental agreement for a $540 monthly fee, starting on November 1, 2017. Leased Premise with the area of 74 square meters is located at 8 Stasinou Ave, Lefkosia 1060, Nicosia, Cyprus. Due to the adoption of the new lease standard under the optional transition method which allows the entity to apply the new lease standard at the adoption date, the Company has capitalized the present value of the minimum lease payments commencing August 1, 2019, using an estimated incremental borrowing rate of 6%. The minimum lease payments do not include common area annual expenses which are considered to be non-lease components. Because of the ownership change in June 2019, the Company did not use the premise anymore and no payments were made. But the Company adopted ASC 842 accounting for leases and continued to accumulated lease liabilities up to the quarter ended July 31, 2023. Due to the ownership change and pursuant to the SPA, the former major shareholder assumed the accumulated lease liabilities of $ 21,060 On May 26, 2020, the Company entered into a three-year rental agreement for a 32,000 RMB per month. The office is located on the second floor of BYD 4S shop, No 56, Dongsihuan South Road, Chaoyang District, Beijing. In May 2020, the Company paid 480,000RMB ($67,306) including the first year rent of 384,000 RMB ($53,845) and three month rent of 96,000 RMB ($13,461) as the security deposit. In May 2021, the Company paid 384,000 RMB ($60,300) for the second year. In June 2022, the Company paid 384,000 RMB ($59,170) for the third and final year. Due to the adoption of the new lease standard under the optional transition method which allows the entity to apply the new lease standard at the adoption date, the Company has capitalized the present value of the minimum lease payments commencing August 1, 2019, using an estimated incremental borrowing rate of 6%. The minimum lease payments do not include common area annual expenses which are considered to be non-lease components. The three year lease ended in May 2023 and the Company did not renew the lease. As of July 31, 2023 and 2022, the total operating lease Right of Use assets were $ 0 48,832 Total lease expense under operating leases for the year ended July 31, 2023 and 2022 were $ 45,576 64,506 As of July 31, 2023 and 2022, the total operating lease Right of Use assets were $ 0 48,832

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Jul. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 6 – RELATED PARTY TRANSACTIONS The Companys former major shareholder and now Chief Financial Officer has been funding the Company for its operations on an as needed basis. For the year ended July 2022, the Company received $ 336,327 30,000 306,327 4,382 As of July 31, 2023 and 2022, the Company owed the former major shareholder and now Chief Financial Officer $ 4,382 541,750

RESEARCH AND DEVELOPMENT EXPENS

RESEARCH AND DEVELOPMENT EXPENSE	12 Months Ended
RESEARCH AND DEVELOPMENT EXPENSE	Jul. 31, 2023
Research And Development Expense
RESEARCH AND DEVELOPMENT EXPENSE	NOTE 7 - RESEARCH AND DEVELOPMENT EXPENSE The Company incurred significant expenses in research and development (R&D). For the years ended July 31, 2023 and 2022, the R&D expenses were $ 53,160 258,764

GENERAL AND ADMINISTRATIVE EXPE

GENERAL AND ADMINISTRATIVE EXPENSES (G&A)	12 Months Ended
GENERAL AND ADMINISTRATIVE EXPENSES (G&A)	Jul. 31, 2023
General And Administrative Expenses
GENERAL AND ADMINISTRATIVE EXPENSES (G&A)	NOTE 8 – GENERAL AND ADMINISTRATIVE EXPENSES (G&A) The general and administrative expenses contain the following – continuing operations: Schedule of General and Administrative Expenses For the year ended July 31, Description 2023 2022 Payroll and payroll tax expenses $ - - Professional fees 38,200 26,750 Lease expenses 1,620 6,480 Other G&A 12,551 8,504 Total $ 52,371 $ 41,734 The general and administrative expenses contain the following – discontinued operations: For the year ended July 31, Description 2023 2022 Payroll and payroll tax expenses $ 140,206 19,763 Professional fees - - Lease expenses 45,576 58,026 Other G&A 1,327 2,436 Total $ 187,109 $ 80,225

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Jul. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 9 – INCOME TAXES The Company utilizes the asset and liability method of accounting for income taxes in accordance with FASB ASC 740, Income Taxes. Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current period and (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entitys financial statements or tax returns. Deferred tax assets also include the prior years net operating losses (NOL) carried forward. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and negative evidence, it is more likely than not some portion or all of the deferred tax assets will not be realized. The Company is subject to income taxes by entity on income arising in or derived from the tax jurisdiction in which each entity is domiciled. The Companys PRC subsidiaries file their income tax returns online with PRC tax authorities. The Company conducts all of its businesses through its subsidiaries and affiliated entities, principally in the PRC. (A) United States (US) The Companys US parent company was incorporated in the US and is subject to U.S. income tax rate of 21% and files U.S. federal income tax return. As of July 31, 2023, the US entity had net operating loss carry forwards for income tax purpose of $ 200,813 (B) PRC The Companys wholly owned Chinese subsidiary Shanghai Clancy is a wholly foreign-owned entity (WFOE). Shanghai Clancy had no business activity from inception through July 31, 2022. The Companys second tier WOFE subsidiary, Beijing Clancy, is subject to the reduced PRC income tax rate as follows as per Caishui (2019) No. 13 issued by General Administration of Taxation, Ministry of Finance of PRC in January 2019: if the annual taxable income of small enterprises does not exceed RMB 1 million ($152,000), only 25% of such taxable income is required for paying the income tax at an income tax rate of 20% (equivalent to 5% of the total taxable income); if the annual taxable income of small enterprises is between RMB 1 million ($152,000) and RMB 3 million ($456,000), only 50% of such taxable income is required for paying the income tax at an income tax rate of 20% (equivalent to 10% of the total taxable income). This tax-reduced policy is effective for the period from January 1, 2019 through December 31, 2022. Beijing Clancy did not have taxable income for year ending July 31, 2022. Tax losses of the operating subsidiaries of the Company may be carried forward for five years in China. Due to the discontinuation of the Chinese subsidiaries, the NOL does not have any impact to the Company as of July 31, 2023. The following table reconciles the U.S. statutory rates to the Companys effective tax rate for the years ended July 31, 2023 and 2022: Schedule of Effective Income Tax Rates Fiscal Years Ended July 31, 2023 2022 US federal statutory rates (21.0 )% (21.0 )% Valuation allowance 21.0 % 21.0 % Effective tax rate - % - % Income tax expense was $0 for the years ended July 31, 2023 and 2022. The provision for income tax expense (benefit) for the years ended July 31, 2023 and 2022 consisted of the following: Schedule of Components of Income tax expense 2023 2022 Income tax expense (benefit) $ (10,998 ) $ (8,764 ) Increase (decrease) in valuation allowance 10,998 8,764 Total income tax expense $ - $ - The Companys net deferred tax asset as of July 31, 2023 and 2022 is as follows: Schedule of Deferred Tax Assets July 31, 2023 July 31, 2022 Deferred tax asset Net operating loss $ 42,171 $ 46,298 Total 42,171 46,298 Less: valuation allowance (42,171 ) (46,298 ) Net deferred tax asset $ - $ -

SHARES ISSUED FOR EQUITY FINANC

SHARES ISSUED FOR EQUITY FINANCING	12 Months Ended
SHARES ISSUED FOR EQUITY FINANCING	Jul. 31, 2023
Shares Issued For Equity Financing
SHARES ISSUED FOR EQUITY FINANCING	NOTE 10 - SHARES ISSUED FOR EQUITY FINANCING In December 2020, the Company issued 150,000,000 0.002 300,000 153,105,464

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Jul. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 11 - SUBSEQUENT EVENTS Management has evaluated subsequent events through the date of filing the financial statements with the Securities and Exchange Commission, the date the financial statements were available to be issued. Management is not aware of any reportable events that occurred subsequent to the balance sheet date up to the date of filing this report except the following: In October 2023, the Company, Shanghai Clancy, and Honghsna Yuanda Limited (a company owned by Mr. Meng, the current Chief Financial Officer of the Company) entered an agreement to assign, transfer and convey all of its rights, titles and interest in and to Shanghai Clancy, along with its ownership of Beijing Clancy, to Hongshan Yuanda Limited. The effective date of this transfer is June 30, 2023. As of the date of transfer, Shanghai Clancy had no operations and no assets and all liabilities were assigned to the transferee.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jul. 31, 2023
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP) and include the accounts of Brilliant N.E.V Corp. (formerly Clancy Corp.)and its wholly owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation.
Fiscal year end	Fiscal year end The Companys year end is July 31 st
Use of Estimates	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.
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.
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts. 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.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of all cash balances and highly liquid investments with original maturities of three months or less. Because of short maturity of these investments, the carrying amounts approximate their fair values.
Concentration of Credit Risk	Concentration of Credit Risk The Company is exposed to credit risk in the normal course of business, primarily related to cash and cash equivalents. The cash is deposited in the institution insured by the Federal Deposit Insurance Corporation (FDIC). The Company has not experienced any losses in such accounts.
Leases	Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (ROU) assets and operating lease liabilities in the consolidated balance sheets. Finance leases are included in finance lease ROU assets and finance lease liabilities in the consolidated balance sheets. ROU assets represent the Companys right to use an underlying asset for the lease term and lease liabilities represent the Companys obligation to make lease payments arising from the lease. Operating lease and finance lease ROU assets and liabilities recognized at July 31, 2023 and 2022 based on the present value of lease payments over the lease term discounted using the rate implicit in the lease. In cases where the implicit rate is not readily determinable, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has elected not to recognize operating lease ROU assets and liabilities arising from short-term leases.
Reporting Currency and Translation	Reporting Currency and Translation The financial statements of the Companys foreign subsidiaries are measured using the local currency, Renminbi (RMB), as the functional currency; whereas the functional currency of Brilliant N.E.V Corp. (formerly Clancy Corp.)and reporting currency of the Company is the United States dollar (USD or $). The Company has discontinued operations in China where the local currency of RMB was used to prepare the financial statements which were translated into the Companys reporting currency, U.S. dollars. The local currency of RMB is the functional currency for the discontinued operations outside the United States. Changes in the exchange rates between this currency and the Companys reporting currency, are partially responsible for some of the periodic changes in the consolidated financial statements. Assets and liabilities of the Companys foreign operations are translated into U.S. dollars at the spot rate in effect at the applicable reporting date. Revenues and expenses of the Companys foreign discontinued operations are translated at the average exchange rate during the applicable period. The resulting unrealized cumulative translation adjustment is recorded as a component of accumulated other comprehensive income (loss) in stockholders deficit. Realized and unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entity are recorded in general and administrative expense in the period in which they occur. For the years ended July 31, July 31, 2023 and 2022 there were no realized or unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entities. The exchange rates used to translate amounts in RMB to USD for the purposes of preparing the consolidated financial statements were as follows: Schedule of exchange rates July 31, 2023 July 31, 2022 Period end USD: RMB exchange rate 7.13 6.74 Average USD: RMB exchange rate 7.02 6.50
Foreign Operations	Foreign Operations All of the Companys discontinued operations and assets are located in Beijing China. The Company may be adversely affected by possible political or economic events in this country. The effect of these factors cannot be accurately predicted.
Basic Income (Loss) Per Share	Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260 Earnings per Share. Basic (loss) per share is computed by dividing net income (loss) available to common stockholders 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. As of July 31, 2023, and 2023, there were no potentially dilutive equity instruments issued or outstanding.
Comprehensive Income	Comprehensive Income The Company follows Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) 220, Comprehensive Income, in reporting comprehensive income. Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income. The Company has one item of other comprehensive income, consisting of a foreign translation adjustment; however, the translation adjustment was immaterial for the years ending July 31, 2023 and 2022.
Financial Instruments	Financial Instruments The carrying value of the Companys short-term financial instruments, such as accounts payable and advances, approximates their fair values because of their short maturities.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements As of July 31, 2023, there are no recently issued accounting standards not yet adopted which would have a material effect on the Companys consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	Jul. 31, 2023
Accounting Policies [Abstract]
Schedule of exchange rates	Schedule of exchange rates July 31, 2023 July 31, 2022 Period end USD: RMB exchange rate 7.13 6.74 Average USD: RMB exchange rate 7.02 6.50

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	12 Months Ended
DISCONTINUED OPERATIONS (Tables)	Jul. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of components of discontinued operations	Schedule of components of discontinued operations Years Ended July 31, 2023 2022 Net Sales - - Operating costs and expenses 240,269 338,989 Income (loss) from operations before other income and income taxes (240,269 ) (338,989 ) Other income (loss) 50 73 Income (loss) before income taxes, loss on equity investment, and non-controlling interest (240,219 ) (338,916 ) Income tax - - Income (loss) from discontinued operations (240,219 ) (338,916 ) Comprehensive income statement Net income (loss) from discontinued operations (240,219 ) (338,916 ) Foreign currency translation loss 46,499 14,547 Total comprehensive income (loss) from discontinued operations (193,720 ) (324,369 )

GENERAL AND ADMINISTRATIVE EX_2

GENERAL AND ADMINISTRATIVE EXPENSES (G&A) (Tables)	12 Months Ended
GENERAL AND ADMINISTRATIVE EXPENSES (G&A) (Tables)	Jul. 31, 2023
General And Administrative Expenses
Schedule of General and Administrative Expenses	Schedule of General and Administrative Expenses For the year ended July 31, Description 2023 2022 Payroll and payroll tax expenses $ - - Professional fees 38,200 26,750 Lease expenses 1,620 6,480 Other G&A 12,551 8,504 Total $ 52,371 $ 41,734 The general and administrative expenses contain the following – discontinued operations: For the year ended July 31, Description 2023 2022 Payroll and payroll tax expenses $ 140,206 19,763 Professional fees - - Lease expenses 45,576 58,026 Other G&A 1,327 2,436 Total $ 187,109 $ 80,225

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Jul. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rates	Schedule of Effective Income Tax Rates Fiscal Years Ended July 31, 2023 2022 US federal statutory rates (21.0 )% (21.0 )% Valuation allowance 21.0 % 21.0 % Effective tax rate - % - %
Schedule of Components of Income tax expense	Schedule of Components of Income tax expense 2023 2022 Income tax expense (benefit) $ (10,998 ) $ (8,764 ) Increase (decrease) in valuation allowance 10,998 8,764 Total income tax expense $ - $ -
Schedule of Deferred Tax Assets	Schedule of Deferred Tax Assets July 31, 2023 July 31, 2022 Deferred tax asset Net operating loss $ 42,171 $ 46,298 Total 42,171 46,298 Less: valuation allowance (42,171 ) (46,298 ) Net deferred tax asset $ - $ -

ORGANIZATION AND NATURE OF BU_2

ORGANIZATION AND NATURE OF BUSINESS (Details Narrative) - shares	Jul. 06, 2020	Jan. 15, 2020	Jul. 31, 2023	Jul. 31, 2022	Jan. 14, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stock split, description		the forward split of the Companys issued and outstanding common stock, $0.001 par value, on thirty (30) post-split shares for a one (1) pre-split share basis applicable to stockholders of record as of January 2, 2020,
Common stock, shares authorized		345,000,000	345,000,000	345,000,000	75,000,000
Reverse stock split, description	the reverse split of the Companys issued and outstanding common stock, $0.001 par value, on thirty (30) pre-split shares to one (1) post-split share basis. Fractional shares resulting from the action will be rounded up to the nearest whole share.

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Jul. 31, 2023	Jul. 31, 2022
Period end USD: RMB exchange rate [Member]
Intercompany Foreign Currency Balance [Line Items]
Average USD: RMB exchange rate	7.13	6.74
Period Average USD: RMB exchange rate [Member]
Intercompany Foreign Currency Balance [Line Items]
Average USD: RMB exchange rate	7.02	6.50

DISCONTINUED OPERATIONS (Detail

DISCONTINUED OPERATIONS (Details) - USD ($)	12 Months Ended
DISCONTINUED OPERATIONS (Details) - USD ($)	Jul. 31, 2023	Jul. 31, 2022
Operating costs and expenses	$ 52,371	$ 41,734
Income (loss) from operations before other income and income taxes	(292,590)	(380,650)
Income tax
Income (loss) from discontinued operations	(240,219)	(338,916)
Comprehensive income statement
Foreign currency translation loss	46,499	14,547
Total comprehensive income (loss) from discontinued operations	(246,091)	(366,103)
Discontinued Operations [Member]
Net Sales
Operating costs and expenses	240,269	338,989
Income (loss) from operations before other income and income taxes	(240,269)	(338,989)
Other income (loss)	50	73
Income (loss) before income taxes, loss on equity investment, and non-controlling interest	(240,219)	(338,916)
Income tax
Income (loss) from discontinued operations	(240,219)	(338,916)
Comprehensive income statement
Net income (loss) from discontinued operations	(240,219)	(338,916)
Foreign currency translation loss	46,499	14,547
Total comprehensive income (loss) from discontinued operations	$ (193,720)	$ (324,369)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	Jul. 31, 2023	Jul. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Accumulated lease liabilities	$ 21,060
Operating lease right of use assets	0	$ 48,832
Operating leases expenses	$ 45,576	$ 64,506

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Jul. 31, 2023	Jul. 31, 2022
Proceeds from advances related party	$ 336,327
Proceeds from related party debt	4,382
Advance from related party	4,382	$ 541,750
Continuing Operations [Member]
Proceeds from advances related party	30,000
Discontinued Operations [Member]
Proceeds from advances related party	$ 306,327

RESEARCH AND DEVELOPMENT EXPE_2

RESEARCH AND DEVELOPMENT EXPENSE (Details Narrative) - USD ($)	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Research And Development Expense
Research and development expense	$ 53,160	$ 258,764

GENERAL AND ADMINISTRATIVE EX_3

GENERAL AND ADMINISTRATIVE EXPENSES (G&A) (Details) - USD ($)	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Professional fees	$ 38,200	$ 26,750
Total	14,171	14,984
Continuing Operations [Member]
Payroll and payroll tax expenses
Professional fees	38,200	26,750
Lease expenses	1,620	6,480
Other G&A	12,551	8,504
Total	52,371	41,734
Discontinued Operations [Member]
Payroll and payroll tax expenses	140,206	19,763
Professional fees
Lease expenses	45,576	58,026
Other G&A	1,327	2,436
Total	$ 187,109	$ 80,225

INCOME TAXES (Details)

INCOME TAXES (Details)	12 Months Ended
INCOME TAXES (Details)	Jul. 31, 2023	Jul. 31, 2022
Income Tax Disclosure [Abstract]
US federal statutory rates	(21.00%)	(21.00%)
Valuation allowance	21%	21%
Effective tax rate

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	12 Months Ended
INCOME TAXES (Details 1) - USD ($)	Jul. 31, 2023	Jul. 31, 2022
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (10,998)	$ (8,764)
Increase (decrease) in valuation allowance	10,998	8,764
Total income tax expense

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($)	Jul. 31, 2023	Jul. 31, 2022
Deferred tax asset
Net operating loss	$ 42,171	$ 46,298
Total	42,171	46,298
Less: valuation allowance	(42,171)	(46,298)
Net deferred tax asset

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	Jul. 31, 2023 USD ($)
Income Tax Disclosure [Abstract]
Operating loss carryforwards	$ 200,813

SHARES ISSUED FOR EQUITY FINA_2

SHARES ISSUED FOR EQUITY FINANCING (Details Narrative) - USD ($)	1 Months Ended
	Dec. 31, 2020	Jul. 31, 2023	Jul. 31, 2022	Dec. 30, 2020
Share price				$ 0.002
Proceeds from private placement	$ 300,000
Common stock, shares, issued		153,105,464	153,105,464
Common stock, shares, outstanding		153,105,464	153,105,464
Common Stock [Member]
Shares issued	150,000,000