Cover
Cover - USD ($) | 12 Months Ended | |
Oct. 31, 2022 | Apr. 30, 2022 | |
Cover [Abstract] | ||
Document Type | 10-K/A | |
Amendment Flag | true | |
Amendment Description | See Explanatory Note | |
Document Annual Report | true | |
Document Transition Report | false | |
Document Period End Date | Oct. 31, 2022 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --10-31 | |
Entity File Number | 333-202398 | |
Entity Registrant Name | ARMA Services, Inc. | |
Entity Central Index Key | 0001625285 | |
Entity Tax Identification Number | 32-0449388 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | Suite 140-920 7260 West Azure Drive | |
Entity Address, City or Town | Las Vegas | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | 89130 | |
City Area Code | (657) | |
Local Phone Number | 315-8312 | |
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 | false | |
Entity Public Float | $ 2,240,000 | |
Entity Common Stock, Shares Outstanding | 62,240,000 | |
Auditor Firm ID | 5968 | |
Auditor Name | OLAYINKA OYEBOLA & CO. | |
Auditor Location | Lagos Nigeria |
Balance Sheets
Balance Sheets - USD ($) | Oct. 31, 2022 | Oct. 31, 2021 |
Current Assets | ||
Cash and cash equivalents | $ 0 | $ 0 |
Total Current Assets | 0 | 0 |
Total Assets | 0 | 0 |
Current Liabilities | ||
Accounts payable | 14,556 | 11,495 |
Loan from director | 27,248 | 20,650 |
Total Current Liabilities | 41,804 | 32,145 |
Total Liabilities | 41,804 | 32,145 |
Commitments and Contingencies | ||
Stockholders’ Equity | ||
Common stock, par value $0.001; 75,000,000 shares authorized, 6,240,000 shares issued and outstanding at October 31, 2022 and 2021 | 6,240 | 6,240 |
Additional paid in capital | 20,160 | 20,160 |
Accumulated deficit | (68,204) | (58,545) |
Total Stockholders’ Equity | (41,804) | (32,145) |
Total Liabilities and Stockholders’ Equity | $ 0 | $ 0 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Oct. 31, 2022 | Oct. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Shares, Issued | 6,240,000 | 6,240,000 |
Common Stock, Shares, Outstanding | 6,240,000 | 6,240,000 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Oct. 31, 2022 | Oct. 31, 2021 | |
Income Statement [Abstract] | ||
REVENUES | $ 0 | $ 0 |
OPERATING EXPENSES | ||
Professional Fees | 9,659 | 4,154 |
Bank Service Charges | 0 | 38 |
TOTAL OPERATING EXPENSES | 9,659 | 4,192 |
NET LOSS FROM OPERATIONS | (9,659) | (4,192) |
PROVISION FOR INCOME TAXES | 0 | 0 |
NET LOSS | $ (9,659) | $ (4,192) |
Statements of Operations (Paren
Statements of Operations (Parenthetical) - $ / shares | 12 Months Ended | |
Oct. 31, 2022 | Oct. 31, 2021 | |
Income Statement [Abstract] | ||
Earnings Per Share, Basic | $ 0 | $ 0 |
Earnings Per Share, Diluted | $ 0 | $ 0 |
Weighted Average Number of Shares Outstanding, Basic | 6,240,000 | 6,240,000 |
Weighted Average Number of Shares Outstanding, Diluted | 6,240,000 | 6,240,000 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Oct. 31, 2020 | $ 6,240 | $ 20,160 | $ (54,353) | $ (21,861) |
Shares, Outstanding, Beginning Balance at Oct. 31, 2020 | 6,240,000 | |||
Net loss | (4,192) | (4,192) | ||
Ending balance, value at Oct. 31, 2021 | $ 6,240 | 20,160 | (58,545) | (32,145) |
Shares, Outstanding, Ending Balance at Oct. 31, 2021 | 6,240,000 | |||
Net loss | (9,659) | (9,659) | ||
Ending balance, value at Oct. 31, 2022 | $ 6,240 | $ 20,160 | $ (68,204) | $ (41,804) |
Shares, Outstanding, Ending Balance at Oct. 31, 2022 | 6,240,000 |
Statement of Cash Flows
Statement of Cash Flows - USD ($) | 12 Months Ended | |
Oct. 31, 2022 | Oct. 31, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss for the year | $ (9,659) | $ (4,192) |
Adjustment for non-cash item | 0 | 0 |
Changes in assets and liabilities: | ||
Increase (decrease) in accounts payable | 3,061 | 110 |
Cash flows provided by/ (used in) operating activities | (6,598) | (4,082) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Cash flows provided by/ (used in) investing activities | 0 | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Loan from director | 6,598 | 4,082 |
Cash flows provided by/ (used in) financing activities | 6,598 | 4,082 |
NET INCREASE (DECREASE) IN CASH | 0 | 0 |
Cash, end of period | 0 | 0 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 12 Months Ended |
Oct. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND NATURE OF BUSINESS | NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Arma Services Inc. (the “Company”, “we”, “us” or “our”) was incorporated under the laws of the State of Nevada on September 2, 2014. Arma Services Inc. is a Destination Management Company (“DMC”), which aims to provide a full range of services in the field of Meeting, Incentive, Conference, and Exhibition (“MICE”) tourism in Russia for corporate customers from United States, China and internal Russian clients. We plan to create a variety of events for domestic and foreign companies, including industry conferences and business meetings, dealer conferences for producers, motivational and incentive arrangements for key employees, and to organize participation in exhibitions and forums. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Oct. 31, 2022 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. Accounting Basis The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has adopted an October 31 fiscal year end. Cash and Cash Equivalents The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $ 0 Fair Value of Financial Instruments ASC topic 820 “Fair Value Measurements and Disclosures” establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets. Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of accounts payable and the Company’s loan from shareholder approximates its fair value due to their short-term maturity. 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. 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. Revenue Recognition The purpose of our business is to provide a full range of services in the field of Meeting, Incentive, Conference, and Exhibition (“MICE”) tourism in Russia for corporate customers from the United States, China and internal Russian clients. Services are provided through industry conferences and business meetings, dealer conferences for producers, motivational and incentive arrangements for key employees, and to organize participation in exhibitions and forums. The Company will recognize revenue in accordance with ASC topic 606 “Revenue from Contracts with Customers”. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Specifically, Section 606-10-50 requires an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts. 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 no Basic Income (Loss) Per Share Basic income (loss) per share is calculated by dividing the Company’s net income (loss) applicable to common shareholders by the weighted average number of common shares during the period. Diluted income (loss) per share is calculated by dividing the Company’s net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no Comprehensive Income The Company has established standards for reporting of comprehensive income, its components and accumulated balances. When applicable, the Company would disclose this information on its Statement of Stockholders’ Equity. Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income. |
LOANS FROM DIRECTOR
LOANS FROM DIRECTOR | 12 Months Ended |
Oct. 31, 2022 | |
Debt Disclosure [Abstract] | |
LOANS FROM DIRECTOR | NOTE 3 – LOANS FROM DIRECTOR In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note. As of October 31, 2022, the Company had a loan outstanding with the Company’s sole director Mr. Sergey Gandin in the amount of $ 27,248 |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Oct. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 4 – GOING CONCERN The accompanying financial statements have been prepared in conformity with generally accepted accounting principle, which contemplate continuation of the Company as a going concern. However, the Company had no revenues as of October 31, 2022. The Company currently has a working capital deficit, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. This raises substantial doubt about its ability to continue as a going concern. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern. |
COMMON STOCK
COMMON STOCK | 12 Months Ended |
Oct. 31, 2022 | |
Equity [Abstract] | |
COMMON STOCK | NOTE 5 – COMMON STOCK The Company has 75,000,000 0.001 6,240,000 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Oct. 31, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 6 – RELATED PARTY TRANSACTIONS As of October 31, 2021, the Company had a non-interest-bearing loan payable to its sole director in the amount of $ 20,650 The Company’s officers and director provide services and office space to the Company without compensation. The Company has entered into vendor agreements with Proekta LLC and Gazetny LLC, which are entities related to officers of the Company. During the year, company had not transacted any business with the related entities. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Oct. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 7 – COMMITMENTS AND CONTINGENCIES The Company neither owns nor leases any real or personal property. An officer has provided office services without charge. There is no obligation for the officer to continue this arrangement. Such costs are immaterial to the financial statements and accordingly are not reflected herein. The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future. |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Oct. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 8 – INCOME TAXES As of October 31, 2022, the Company had net operating loss carry forwards of approximately $ 68,204 October 31, 2022 October 31, 2021 Federal income tax benefit attributable to: Current Operations $ 2,028 $ 880 Less: valuation allowance (2,028 ) (880 ) Net provision for Federal income taxes $ – $ – The cumulative tax effect at the expected rate of 21% of significant items comprising our net deferred tax amount is as follows: October 31, 2022 October 31, 2021 Deferred tax asset attributable to: Net operating loss carryover $ 14,322 $ 12,294 Less: valuation allowance (14,322 ) (12,294 ) Net deferred tax asset $ – $ – Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $68,204 for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Oct. 31, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 9 – SUBSEQUENT EVENTS In accordance with ASC 855-10 the Company has analyzed its operations subsequent to October 31, 2022, and to the date these financial statements were issued, and has determined that it does not have any subsequent event to disclose in these financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Oct. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. Accounting Basis The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has adopted an October 31 fiscal year end. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $ 0 |
Fair Value of Financial Instruments | Fair Value of Financial Instruments ASC topic 820 “Fair Value Measurements and Disclosures” establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets. Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of accounts payable and the Company’s loan from shareholder approximates its fair value due to their short-term maturity. |
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. |
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. |
Revenue Recognition | Revenue Recognition The purpose of our business is to provide a full range of services in the field of Meeting, Incentive, Conference, and Exhibition (“MICE”) tourism in Russia for corporate customers from the United States, China and internal Russian clients. Services are provided through industry conferences and business meetings, dealer conferences for producers, motivational and incentive arrangements for key employees, and to organize participation in exhibitions and forums. The Company will recognize revenue in accordance with ASC topic 606 “Revenue from Contracts with Customers”. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Specifically, Section 606-10-50 requires an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts. |
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 no |
Basic Income (Loss) Per Share | Basic Income (Loss) Per Share Basic income (loss) per share is calculated by dividing the Company’s net income (loss) applicable to common shareholders by the weighted average number of common shares during the period. Diluted income (loss) per share is calculated by dividing the Company’s net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no |
Comprehensive Income | Comprehensive Income The Company has established standards for reporting of comprehensive income, its components and accumulated balances. When applicable, the Company would disclose this information on its Statement of Stockholders’ Equity. Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income. |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Oct. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes (Details - Provision for Income taxes) | October 31, 2022 October 31, 2021 Federal income tax benefit attributable to: Current Operations $ 2,028 $ 880 Less: valuation allowance (2,028 ) (880 ) Net provision for Federal income taxes $ – $ – |
Income Taxers (Details - Deferred income taxes) | October 31, 2022 October 31, 2021 Deferred tax asset attributable to: Net operating loss carryover $ 14,322 $ 12,294 Less: valuation allowance (14,322 ) (12,294 ) Net deferred tax asset $ – $ – |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 12 Months Ended | |
Oct. 31, 2022 | Oct. 31, 2021 | |
Accounting Policies [Abstract] | ||
Cash | $ 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number | 0 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 |
LOANS FROM DIRECTOR (Details Na
LOANS FROM DIRECTOR (Details Narrative) - USD ($) | Oct. 31, 2022 | Oct. 31, 2021 |
Debt Disclosure [Abstract] | ||
[custom:NotesPayableRelatedPartiesCurrentAndNoncurrent1-0] | $ 27,248 | $ 20,650 |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - $ / shares | Oct. 31, 2022 | Oct. 31, 2021 |
Equity [Abstract] | ||
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares, Outstanding | 6,240,000 | 6,240,000 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | Oct. 31, 2022 | Oct. 31, 2021 |
Related Party Transactions [Abstract] | ||
[custom:NotesPayableRelatedPartiesCurrentAndNoncurrent1-0] | $ 27,248 | $ 20,650 |
Income Taxes (Details - Provisi
Income Taxes (Details - Provision for Income taxes) - USD ($) | 12 Months Ended | |
Oct. 31, 2022 | Oct. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
Current Operations | $ 2,028 | $ 880 |
Less: valuation allowance | (2,028) | (880) |
Net provision for Federal income taxes | $ 0 | $ 0 |
Income Taxers (Details - Deferr
Income Taxers (Details - Deferred income taxes) - USD ($) | Oct. 31, 2022 | Oct. 31, 2021 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carryover | $ 14,322 | $ 12,294 |
Less: valuation allowance | (14,322) | (12,294) |
Net deferred tax asset | $ 0 | $ 0 |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) | Oct. 31, 2022 USD ($) |
Income Tax Disclosure [Abstract] | |
Operating Loss Carryforwards | $ 68,204 |