| Document and Entity Information (USD $) | 12 Months Ended |
| Nov. 30, 2013 | |
| Document and Entity Information: | ' |
| Entity Registrant Name | 'Kolasco Corp |
| Document Type | '10-K |
| Document Period End Date | 30-Nov-13 |
| Amendment Flag | 'false |
| Entity Central Index Key | '0001542261 |
| Current Fiscal Year End Date | '--11-30 |
| Entity Common Stock, Shares Outstanding | 108,000,000 |
| Entity Public Float | $0 |
| Entity Filer Category | 'Smaller Reporting Company |
| Entity Current Reporting Status | 'Yes |
| Entity Voluntary Filers | 'Yes |
| Entity Well-known Seasoned Issuer | 'No |
| Document Fiscal Year Focus | '2013 |
| Document Fiscal Period Focus | 'FY |
| Balance sheets (USD $) | Nov. 30, 2013 | Nov. 30, 2012 |
| Assets, Current | ' | ' |
| Cash and Cash Equivalents, at Carrying Value | $6,474 | $4,930 |
| Assets, Current | 6,474 | 4,930 |
| Assets, Noncurrent | ' | ' |
| Property, Plant and Equipment, Gross | 260 | 600 |
| Accumulated Depreciation | 0 | 0 |
| Assets, Noncurrent | 260 | 600 |
| Assets | 6,734 | 5,530 |
| Liabilities, Noncurrent | ' | ' |
| Due to Related Parties, Noncurrent | 27,888 | 973 |
| Liabilities | 27,888 | 973 |
| Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | ' | ' |
| Common Stock, value | 3,600 | 3,600 |
| Additional Paid in Capital, Preferred Stock | 18,400 | 18,400 |
| Deficit accumulated during development stage | -43,154 | -17,443 |
| Total Stockholder's equity (deficit) | -21,154 | 4,557 |
| Stockholders' Equity, Number of Shares, Par Value and Other Disclosures | ' | ' |
| Common Stock, Shares Authorized | 200,000,000 | 75,000,000 |
| Common Stock, Shares Issued | 108,000,000 | 3,600,000 |
| Common Stock, Shares Outstanding | 108,000,000 | 3,600,000 |
| Liabilities and Equity | $6,734 | $5,530 |
| Statements of Operations (USD $) | 12 Months Ended | 35 Months Ended | |
| Nov. 30, 2013 | Nov. 30, 2012 | Nov. 30, 2013 | |
| Revenues | ' | ' | ' |
| Revenues | $0 | $0 | $800 |
| Operating Expenses | ' | ' | ' |
| General and Administrative Expense | 25,711 | 16,909 | 43,954 |
| Total Operating Expenses | 25,711 | 16,909 | 43,954 |
| Net loss from operations | 25,711 | 16,909 | 43,154 |
| Income Tax Expense (Benefit) | ' | ' | ' |
| Provision for Income Taxes (Benefit) | 0 | 0 | 0 |
| Net Income (Loss) | ($25,711) | ($16,909) | ($42,354) |
| Earnings Per Share | ' | ' | ' |
| Weighted Average Number of Shares Outstanding, Basic | 108,000,000 | 108,000,000 | ' |
| Statements of Cash Flows (USD $) | 12 Months Ended | 35 Months Ended | |
| Nov. 30, 2013 | Nov. 30, 2012 | Nov. 30, 2013 | |
| Net Cash Provided by (Used in) Operating Activities | ' | ' | ' |
| Net loss for the period | ($25,711) | ($16,909) | ($43,154) |
| Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities | ' | ' | ' |
| Depreciation | 340 | 425 | 765 |
| Net Cash Provided by (Used in) Operating Activities | -25,371 | -16,484 | -42,389 |
| Net Cash Provided by (Used in) Investing Activities | ' | ' | ' |
| Payments to Acquire Property, Plant, and Equipment | ' | ' | -1,025 |
| Net Cash Provided by (Used in) Investing Activities | 0 | 0 | -1,025 |
| Net Cash Provided by (Used in) Financing Activities | ' | ' | ' |
| Proceeds from Issuance of Common Stock | ' | ' | 22,000 |
| Proceeds from Contributions from Affiliates | 26,915 | ' | 27,888 |
| Net Cash Provided by (Used in) Financing Activities | 26,915 | 0 | 49,888 |
| Cash and Cash Equivalents, Period Increase (Decrease) | 1,544 | -16,484 | 6,474 |
| Cash and Cash Equivalents, at Carrying Value | 4,930 | 21,414 | 0 |
| Cash and Cash Equivalents, at Carrying Value | $6,474 | $4,930 | $6,474 |
| Note 1 - Organization and Nature of Business | 12 Months Ended |
| Nov. 30, 2013 | |
| Notes | ' |
| Note 1 - Organization and Nature of Business | ' |
| NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS | |
| Kolasco Corp. (the "Company" or “Kolasco”) was incorporated under the laws of the State of Nevada on December 28, 2010. The Company performs translation and interpretation services for clients from various fields ranging from business, economics, and science fields. All operating projects are customer tailored with four working languages: English, Spanish, Russian, and Ukrainian. | |
| Note 2 - Summary of Signifcant Accounting Policies | 12 Months Ended | ||
| Nov. 30, 2013 | |||
| Notes | ' | ||
| Note 2 - Summary of Signifcant Accounting Policies | ' | ||
| NOTE 2 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | |||
| Development Stage Company | |||
| The accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to development stage companies under ASC 915. A development-stage company is one in which planned principal operations have not commenced or if its operations have commenced, there has been no significant revenues there from. | |||
| Basis of Presentation | |||
| The Company’s financial statements are prepared using the accrual basis of accounting in accordance with generally accepted accounting principles in the United States. The Company has elected a November 30 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 $6,464 and $4,930 of cash as of November 30, 2013 and 2012, respectively. | |||
| Property and Equipment | |||
| Property and equipment is recorded at cost less accumulated depreciation. Depreciation and amortization is calculated using the straight-line method over the expected useful life of the asset, after the asset is placed in service. The Company generally uses the following depreciable lives for its major classifications of property and equipment: | |||
| Assets | Estimated Useful Life | ||
| Software | 3 Years | ||
| Valuation of Long-Lived Assets | |||
| Long-lived tangible assets and definite-lived intangible assets are reviewed for possible impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company uses an estimate of undiscounted future net cash flows of the assets over the remaining useful lives in determining whether the carrying value of the assets is recoverable. If the carrying values of the assets exceed the expected future cash flows of the assets, the Company recognizes an impairment loss equal to the difference between the carrying values of the assets and their estimated fair values. Impairment of long-lived assets is assessed at the lowest levels for which there are identifiable cash flows that are independent from other groups of assets. The evaluation of long-lived assets requires the Company to use estimates of future cash flows. However, actual cash flows may differ from the estimated future cash flows used in these impairment tests. As of November 30, 2013 and 2012, management does not believe any of the Company’s long-lived assets were impaired. | |||
| Fair Value of Financial Instruments | |||
| In accordance with ASC 820, the Company’s financial instruments consist of cash and cash equivalents and amounts due to related parties. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. | |||
| Income Taxes | |||
| The Company accounts for income taxes under the asset/liability method. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The charge for taxation is based on the results for the year as adjusted for items, which are non-assessable or disallowed. It is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date. | |||
| In July, 2006, the FASB issued ASC 740, “Accounting for Uncertainty in Income Taxes”, which clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a return. ASC 740 provides guidance on the measurement, recognition, classification and disclosure of tax positions, along with accounting for the related interest and penalties. Under this pronouncement, the Company recognizes the financial statement benefit of a tax position only after determining that a position would more likely than not be sustained based upon its technical merit if challenged by the relevant taxing authority and taken by management to the court of the last resort. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the consolidated financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon settlement with the relevant tax authority. ASC 740 became effective for the Company as of July 1, 2008 and had no material impact on the Company’s financial statements. | |||
| The Company’s policy is to recognize both interest and penalties related to unrecognized tax benefits in income tax expense. Interest and penalties on unrecognized tax benefits expected to result in payment of cash within one year are classified as accrued liabilities, while those expected beyond one year are classified as other liabilities. The Company has not recorded any interest and penalties since its inception. | |||
| The Company files income tax returns in the U.S. federal tax jurisdiction and various state tax jurisdictions. The tax years for 2013 and 2012 remain open for federal and/or state tax jurisdictions. The Company is currently not under examination by any other tax jurisdictions for any tax years. | |||
| 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 Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured. | |||
| 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. | |||
| Basic Income (Loss) Per Share | |||
| Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income 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 such common stock equivalents outstanding as of November 30, 2013 and 2012. | |||
| Comprehensive Income | |||
| The Company has which established standards for reporting and display 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. | |||
| Recent Accounting Pronouncements | |||
| The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on its results of operations, financial position or cash flow. | |||
| Note 3 - Going Concern | 12 Months Ended |
| Nov. 30, 2013 | |
| Notes | ' |
| Note 3 - Going Concern | ' |
| NOTE 3 – GOING CONCERN | |
| The Company's financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. | |
| In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plans to obtain such resources for the Company include (1) obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses, and (2) seeking out and completing mergers with existing operating companies. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. | |
| The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
| Note 4 - Notes Payable - Related Party | 12 Months Ended |
| Nov. 30, 2013 | |
| Notes | ' |
| Note 4 - Notes Payable - Related Party | ' |
| NOTE 4 – NOTES PAYABLE - RELATED PARTY | |
| The loan is unsecured, non-interest bearing and due on demand. The balance due to the shareholder was $27,888 as of November 30, 2013 and $973 as of November 30, 2012. |
| Note 5 - Common Stock | 12 Months Ended |
| Nov. 30, 2013 | |
| Notes | ' |
| Note 5 - Common Stock | ' |
| NOTE 5 – COMMON STOCK | |
| On April 20, 2011, the Company issued 2,000,000 shares (60,000,000 post split shares) of common stock to the Company’s founder for cash proceeds of $2,000 at $0.001 per share. | |
| On August 20, 2011, the Company issued 1,200,000 shares (36,000,000 post split shares) of common stock for cash proceeds of $12,000 at $0.01 per share. | |
| On November 30, 2011, the Company issued 400,000 shares (12,000,000 post split shares) shares of common stock for cash proceeds of $8,000 at $0.02 per share. | |
| On October 2, 2013 the Company received approval from FINRA to affect a thirty-to-one forward split. The statement of stockholders equity has been updated to reflect this change since inception. | |
| The Company has 200,000,000, $0.001 par value shares of common stock authorized. There were 108,000,000 shares (post split) of common stock issued and outstanding as of November 30, 2013 and 2012. | |
| Note 6 - Commitments and Contingencies | 12 Months Ended |
| Nov. 30, 2013 | |
| Notes | ' |
| Note 6 - Commitments and Contingencies | ' |
| NOTE 6 – 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. | |
| Note 7 - Income Taxes | 12 Months Ended | |||||
| Nov. 30, 2013 | ||||||
| Notes | ' | |||||
| Note 7 - Income Taxes | ' | |||||
| NOTE 7 – INCOME TAXES | ||||||
| As of November 30, 2013, the Company had net operating loss carry forwards of approximately $43,414 that may be available to reduce future years’ taxable income in varying amounts through 2032. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. | ||||||
| The provision for Federal income tax consists of the following: | ||||||
| 2013 | 2012 | |||||
| Federal income tax benefit attributable to: | ||||||
| Current Operations | $ | 25,711 | 16,609 | |||
| Less: valuation allowance | -25,711 | -16,609 | ||||
| Net provision for Federal income taxes | $ | - | - | |||
| The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows: | ||||||
| 2013 | 2012 | |||||
| Deferred tax asset attributable to: | ||||||
| Net operating loss carryover | $ | 8,742 | 5,647 | |||
| Less: valuation allowance | -8,742 | -5,647 | ||||
| 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 $43,414 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. | ||||||
| Note 8 - Subsequent Events | 12 Months Ended |
| Nov. 30, 2013 | |
| Notes | ' |
| Note 8 - Subsequent Events | ' |
| NOTE 8 – SUBSEQUENT EVENTS | |
| In accordance with ASC 855, the Company has analyzed its operations subsequent to November 30, 2013 through the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements. |
