Afrika4u 10-K 28 Jan 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Aug. 31, 2018	Jan. 28, 2019	Feb. 28, 2018
Document And Entity Information
Entity Registrant Name	AFRIKA4U
Entity Central Index Key	1,727,815
Document Type	10-K
Document Period End Date	Aug. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--08-31
Is Entity a Well-known Seasoned Issuer	No
Is Entity a Voluntary Filer	No
Is Entity's Reporting Status Current?	No
Is Entity Emerging Growth Company?	true
Entity Ex Transition Period	true
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Common Stock, Shares Outstanding		10,000,000
Entity Public Float			$ 0
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,018
Entity Shell Company	false

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Aug. 31, 2018	Aug. 31, 2017
CURRENT ASSETS
Bank	$ 1,185
TOTAL ASSETS	1,185
CURRENT LIABILITIES
Accounts payable and accrued liabilities		1,000
Loan from related party	5,755	1,613
TOTAL CURRENT LIABILITIES	5,755	2,613
STOCKHOLDERS' EQUITY (DEFICIT)
Capital stock, Authorized, 75,000,000 shares of common stock, $0.001 par value, Issued and outstanding 10,000,000 shares at August 31, 2018 and August 31, 2017	10,000	10,000
Subscription Receivable		(10,000)
Accumulated Deficit	(14,570)	(2,613)
TOTAL STOCKHOLDERS' EQUITY/(DEFICIT)	(4,570)	(2,613)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT)	$ 1,185

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Aug. 31, 2018	Aug. 31, 2017
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common Stock, shares issued	10,000,000	10,000,000
Common stock, shares outstanding	10,000,000	10,000,000

STATEMENT OF OPERATIONS

STATEMENT OF OPERATIONS - USD ($)	1 Months Ended	12 Months Ended
	Aug. 31, 2017	Aug. 31, 2018
EXPENSES
Office and general	$ 1,613	$ 1,957
Professional Fees	1,000	10,000
Total Expenses, before provision of income taxes	2,613	11,957
Provision for income taxes
NET LOSS	$ (2,613)	$ (11,957)
BASIC AND DILUTED LOSS PER COMMON SHARE	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING	10,000,000	10,000,000

STATEMENTS OF STOCKHOLDERS' EQU

STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)	Common Stock	Additional Paid-in Capital	Share Subscriptions Receivable [Member]	Accumulated Deficit	Total
Beginning balance, Amount at Aug. 03, 2017
Beginning balance, Shares at Aug. 03, 2017
Founder's shares issued for cash at $0.001 per share, amount	$ 10,000		(10,000)
Founder's shares issued for cash at $0.001 per share, shares	10,000,000
Net loss for the year				(2,613)	(2,613)
Ending balance, Amount at Aug. 31, 2017	$ 10,000		(10,000)	(2,613)	(2,613)
Ending balance, Shares at Aug. 31, 2017	10,000,000
Beginning balance, Amount at Aug. 03, 2017
Beginning balance, Shares at Aug. 03, 2017
Net loss for the year					(14,570)
Ending balance, Amount at Aug. 31, 2018	$ 10,000			(14,570)	(4,570)
Ending balance, Shares at Aug. 31, 2018	10,000,000
Beginning balance, Amount at Aug. 31, 2017	$ 10,000		(10,000)	(2,613)	(2,613)
Beginning balance, Shares at Aug. 31, 2017	10,000,000
Subscription receivable received			10,000		10,000
Net loss for the year				(11,957)	(11,957)
Ending balance, Amount at Aug. 31, 2018	$ 10,000			$ (14,570)	$ (4,570)
Ending balance, Shares at Aug. 31, 2018	10,000,000

STATEMENT OF CASH FLOWS

STATEMENT OF CASH FLOWS - USD ($)	1 Months Ended	12 Months Ended
	Aug. 31, 2017	Aug. 31, 2018
OPERATING ACTIVITIES
Net loss	$ (2,613)	$ (11,957)
Adjustment to reconcile net loss to net cash used in operating activities:
Expenses paid on company's behalf by related party	1,000	(1,000)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	(1,613)	(12,957)
FINANCING ACTIVITIES
Proceeds from subscription receivable		10,000
Loan from related party	1,613	4,142
NET CASH PROVIDED BY FINANCING ACTIVITIES	1,613	14,142
NET INCREASE (DECREASE) IN CASH		1,185
CASH, BEGINNING OF PERIOD
CASH, END OF PERIOD		1,185
Supplemental cash flow information and noncash financing activities:
Cash paid for: Interest
Cash paid for: Income taxes

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION	12 Months Ended
	Aug. 31, 2018
Notes to Financial Statements
NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION	The Company was incorporated in the State of Nevada as a for-profit Company on August 4, 2017 and established a fiscal year end of August 31. The Company intends to export leather shoes and leather bags as fashion accessories, to the US. All activities of the Company to date relate to its organization, initial funding.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Aug. 31, 2018
Notes to Financial Statements
NOTE 2 - BASIS OF PRESENTATION	Basis of Presentation In the opinion of management, the accompanying balance sheets, statements of operations, stockholders' equity (deficit) and cash flows include all adjustments, consisting only of normal recurring items, for their fair presentation in conformity with accounting principles generally accepted in the United States. These financial statements are presented in United States dollars. Property The Company does not own or rent any property. The office space is provided by the president at no charge. Revenue and Cost Recognition The Company has no current source of revenue; therefore the Company has not yet adopted any policy regarding the recognition of revenue or cost. Cash and Cash Equivalents The Company considers all highly liquid investments with maturity of three months or less to be cash equivalents. Use of Estimates and Assumptions Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Income Taxes The Company follows the liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. Net Loss per Share Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive loss per share reflects the potential dilution of securities that could share in the losses of the Company. Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share. Exchange Rate Accounting Policy Local currencies are translated into US$ at the prevailing rate on the date of the transaction. Recent Accounting Pronouncements The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the company’s financial statement.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Aug. 31, 2018
Notes to Financial Statements
NOTE 3 - GOING CONCERN	The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company has a working capital deficit and an accumulated deficit of $14,570 and net loss from operations since inception of $14,570. The Company does not have a source of revenue sufficient to cover its operation costs giving substantial doubt for it to continue as a going concern. The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The Company is funding its initial operations by way of issuing Founder’s shares. The officers and directors have committed to advancing certain operating costs of the Company, including Legal, Audit, Transfer Agency and Edgarizing costs

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Aug. 31, 2018
Notes to Financial Statements
NOTE 4 - FAIR VALUE OF FINANCIAL INSTRUMENTS	The Company has determined the estimated fair value of financial instruments using available market information and appropriate valuation methodologies. The fair value of financial instruments classified as current assets or liabilities approximate their carrying value due to the short-term maturity of the instruments.

CAPITAL STOCK

CAPITAL STOCK	12 Months Ended
	Aug. 31, 2018
Notes to Financial Statements
NOTE 5 - CAPITAL STOCK	The Company’s capitalization is 75,000,000 common shares with a par value of $0.001 per share. No preferred shares have been authorized or issued. As of August 31, 2018, the Company has not granted any stock options and has not recorded any stock-based compensation. On August 7, 2017 the Company issued 10,000,000 Founder's shares for cash at $0.001 per share. On May 31, 2018, the Company decreased the loan amount by $10,000 from Charl Fredirck Coertzen, the Founder, in receipt of $10,000 subscription receivable. As of August 31, 2018, 10,000,000 common shares issued and outstanding.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Aug. 31, 2018
Notes to Financial Statements
NOTE 6 - RELATED PARTY TRANSACTIONS	During this year, Charl Fredrick Coertzen, Founder and President of the Company, paid $12,831 on behalf of the Company and cash loan of $1,311 to the Company. On May 31, 2018 the Company decreased the loan amount $10,000 as money received for subscription receivable. As of August 31, 2018, the Company owes $5,755 (August 31, 2017 $1,613) to Charl Fredirck Coertzen. The loans are payable on demand, unsecured and without interest.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Aug. 31, 2018
Notes to Financial Statements
NOTE 7 - INCOME TAXES	We did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. Accounting for Uncertainty in Income Taxes when it is more likely than not that a tax asset cannot be realized through future income the Company must allow for this future tax benefit. We provided a full valuation allowance on the net deferred tax asset, consisting of net operating loss carry forwards, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carry forward period. A reconciliation of the provision for income taxes at the United States federal statutory rate compared to the Company’s income tax expense as reported is as follows: August 31, 2018 August 31, 2017 Net loss before income taxes per financial statements $ (11,957 ) $ (2,613 ) Income tax rate 34 % 34 % Income tax recovery (4,065 ) (888 ) Non-deductible - - Valuation allowance change 4,065 888 Provision for income taxes $ - $ - The significant component of deferred income tax assets at August 31, 2018 and August 31, 2017 are as follows: August 31, 2018 August 31, 2017 Net operating loss carry-forward $ 4,953 $ 888 Valuation allowance (4,953 ) (888 ) Net deferred income tax asset $ - $ –

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Aug. 31, 2018
Notes to Financial Statements
NOTE 8 - SUBSEQUENT EVENTS	During September 2018, the Company received $3,195 from 24 individuals for 79,875 common stock issued at $0.04. On October 16, 2018, the Company effected a 312:1 Forward Stock Split of all issued and outstanding shares of the Company’s common stock. The Effected date is the date not later than 10 days after notifying the Nevada Secretary of the State. On October 25, 2018, the Company borrowed cash $4,405 from Charl Fredrick Coertzen, President of the Company.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Aug. 31, 2018
Summary Of Significant Accounting Policies
Basis of Presentation	In the opinion of management, the accompanying balance sheets, statements of operations, stockholders' equity (deficit) and cash flows include all adjustments, consisting only of normal recurring items, for their fair presentation in conformity with accounting principles generally accepted in the United States. These financial statements are presented in United States dollars.
Property	The Company does not own or rent any property. The office space is provided by the president at no charge.
Revenue and Cost Recognition	The Company has no current source of revenue; therefore the Company has not yet adopted any policy regarding the recognition of revenue or cost.
Cash and Cash Equivalents	The Company considers all highly liquid investments with maturity of three months or less to be cash equivalents.
Use of Estimates and Assumptions	Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
Income Taxes	The Company follows the liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment.
Net Loss per Share	Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive loss per share reflects the potential dilution of securities that could share in the losses of the Company. Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share.
Exchange Rate Accounting Policy	Local currencies are translated into US$ at the prevailing rate on the date of the transaction.
Recent Accounting Pronouncements	The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the company’s financial statement.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Aug. 31, 2018
Income Taxes Tables Abstract
Schedule Of Effective Income Tax Rate Reconciliation	August 31, 2018 August 31, 2017 Net loss before income taxes per financial statements $ (11,957 ) $ (2,613 ) Income tax rate 34 % 34 % Income tax recovery (4,065 ) (888 ) Non-deductible - - Valuation allowance change 4,065 888 Provision for income taxes $ - $ -
Schedule of deferred income tax assets	August 31, 2018 August 31, 2017 Net operating loss carry-forward $ 4,953 $ 888 Valuation allowance (4,953 ) (888 ) Net deferred income tax asset $ - $ –

NATURE OF OPERATIONS AND BASI_2

NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Details Narrative)	12 Months Ended
	Aug. 31, 2018
Nature Of Operations And Basis Of Presentation
State of incorporation	Nevada
Date of incorporation	Aug. 4, 2017

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended	13 Months Ended
	Aug. 31, 2017	Aug. 31, 2018	Aug. 31, 2018
Going Concern
Accumulated deficit	$ (2,613)	$ (14,570)	$ (14,570)
Net loss from operations	$ (2,613)	$ (11,957)	$ (14,570)

CAPITAL STOCK (Details Narrativ

CAPITAL STOCK (Details Narrative) - USD ($)	1 Months Ended	9 Months Ended	12 Months Ended
	Aug. 31, 2017	May 31, 2018	Aug. 31, 2018	Aug. 07, 2017
Common stock, par value	$ 0.001		$ 0.001
Common stock, shares authorized	75,000,000		75,000,000
Common stock, shares issued	10,000,000		10,000,000
Common stock, shares outstanding	10,000,000		10,000,000
Proceeds from subscription receivable		$ 10,000	$ 10,000
Charl Fredrick Coertzen [Member]
Repayment of related party debt		$ 10,000
Founder [Member]
Common stock, par value				$ 0.001
Common stock, shares issued				10,000,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	1 Months Ended	9 Months Ended	12 Months Ended
	Aug. 31, 2017	May 31, 2018	Aug. 31, 2018
Loan from related party	$ 1,613		$ 4,142
Charl Fredrick Coertzen [Member]
Due to related party			12,831
Loan from related party			1,311
Repayment of related party debt		$ 10,000
President [Member]
Loan from related party	$ 1,613		$ 5,755

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	1 Months Ended	12 Months Ended
	Aug. 31, 2017	Aug. 31, 2018
Income Taxes Details 1Abstract
Net loss before income taxes per financial statements	$ (2,613)	$ (11,957)
Income tax rate	34.00%	34.00%
Income tax recovery	$ (888)	$ (4,065)
Non-deductible
Valuation allowance change	888	4,065
Provision for income taxes

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	Aug. 31, 2018	Aug. 31, 2017
Income Taxes Details 1Abstract
Net operating loss carryforward	$ 4,953	$ 888
Valuation allowance	(4,953)	(888)
Net deferred income tax asset

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)	1 Months Ended				12 Months Ended
	Oct. 25, 2018USD ($)	Oct. 16, 2018	Sep. 30, 2018USD ($)Integer$ / sharesshares	Aug. 31, 2017USD ($)shares	Aug. 31, 2018USD ($)shares
Common stock, shares issued | shares				10,000,000	10,000,000
Loan from related party				$ 1,613	$ 4,142
Charl Fredrick Coertzen [Member]
Loan from related party					$ 1,311
Subsequent Event [Member]
Forward stock split		312:1
Subsequent Event [Member] | Individual [Member]
Proceeds from issuance of common stock			$ 3,195
Number of individuals | Integer			24
Common stock, shares issued | shares			79,875
Common stock, per share | $ / shares			$ 0.04
Subsequent Event [Member] | Charl Fredrick Coertzen [Member]
Loan from related party	$ 4,405