Yumba Records Storage 10-K 15 Dec 20 2020 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Aug. 31, 2020	Dec. 15, 2020	May 31, 2020
Cover [Abstract]
Entity Registrant Name	YUMBA RECORDS STORAGE, INC.
Entity Central Index Key	0001750398
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	No
Current Fiscal Year End Date	--08-31
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	true
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Aug. 31, 2020
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Entity Ex Transition Period	true
Entity Common Stock Shares Outstanding		10,200,000
Entity Public Float			$ 42,000
Document Annual Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Aug. 31, 2020	Aug. 31, 2019
Current assets
Cash	$ 25,242	$ 408
Total current assets	25,242	408
Total assets	25,242	408
Current liabilities
Accounts payable and accrued liabilities	877	728
Due to related party	585	2,871
Total current liabilities	1,462	3,599
Long term liabilities
Related party notes payable, net of discount	14,194	13,503
Total liabilities	15,656	17,102
Commitments and contingencies (Note 8)	0	0
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock: $0.001 par value, 200,000,000 authorized, 11,000,000 and 6,000,000 issued and outstanding as of August 31, 2020 and 2019 respectively	11,000	6,000
Additional paid-in capital	46,945	1,945
Accumulated deficit	(48,167)	(24,639)
Accumulated other comprehensive income	(192)	0
Total stockholders' equity (deficit)	9,586	(16,694)
Total liabilities and stockholders' equity (deficit)	$ 25,242	$ 408

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Aug. 31, 2020	Aug. 31, 2019
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	11,000,000	6,000,000
Common stock, shares outstanding	11,000,000	6,000,000

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Revenue
Revenue - related party	$ 3,002	$ 0
Expenses
General and administrative	11,504	4,424
Professional fees	13,353	8,000
Rent	983	0
Total expenses	(25,840)	(12,424)
Loss from operations	(22,838)	(12,424)
Other Expenses
Interest expense	(690)	(278)
Loss before provision for income tax	(23,528)	(12,702)
Provision for income tax	0	0
Net Loss	(23,528)	(12,702)
Other comprehensive loss	0	0
Foreign currency translation	(192)	0
Net Comprehensive Loss	$ (23,720)	$ (12,702)
Net loss per share - basic and diluted	$ 0	$ 0
Weighted average shares outstanding - basic and diluted	10,875,640	6,000,000

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS DEFICIT - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated other comprehensive loss
Balance, shares at Aug. 31, 2018		6,000,000
Balance, amount at Aug. 31, 2018	$ (5,937)	$ 6,000	$ 0	$ (11,937)	$ 0
Debt discount	1,945	0	1,945	0	0
Net loss	(12,702)	$ 0	0	(12,702)	0
Balance, shares at Aug. 31, 2019		6,000,000
Balance, amount at Aug. 31, 2019	(16,694)	$ 6,000	1,945	(24,639)	0
Net loss	(23,528)	$ 0	0	(23,528)	0
Sale of common shares for cash, shares		5,000,000
Sale of common shares for cash, amount	50,000	$ 5,000	45,000	0	0
Foreign currency translation	(192)	$ 0	0	0	(192)
Balance, shares at Aug. 31, 2020		11,000,000
Balance, amount at Aug. 31, 2020	$ 9,586	$ 11,000	$ 46,945	$ (48,167)	$ (192)

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($)	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Cash flows from operating activities
Net loss	$ (23,528)	$ (12,702)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of debt discount	690	278
Change in operating assets and liabilities
Accounts payables and accrued liabilities	150	(329)
Due to related parties	(2,286)	2,871
Net cash used in operating activities	(24,974)	(9,882)
Cash flows from financing activities
Advances from related party	0	0
Proceeds from sale of common shares for cash	50,000	0
Net cash provided by financing activities	50,000	0
Effect of exchange rate changes on cash	(192)	0
Change in cash	24,834	(9,882)
Cash - beginning of period	408	10,290
Cash - end of period	25,242	408
Supplemental cash flow disclosures
Cash paid for: Interest	0	0
Cash paid for: Income tax	$ 0	$ 0

NATURE AND CONTINUANCE OF OPERA

NATURE AND CONTINUANCE OF OPERATIONS	12 Months Ended
	Aug. 31, 2020
NATURE AND CONTINUANCE OF OPERATIONS
Note 1 - NATURE AND CONTINUANCE OF OPERATIONS	Yumba Records Storage, Inc. (the "Company") was incorporated in the state of Nevada on July 21, 2017 ("Inception"). The Company plans to be a physical record storage and retrieval company .The Company's corporate headquarters is located in Margao, India and its fiscal year-end is August 31. Most of the activities of the Company have related to its organization, initial funding, and share issuances. In February 2020, the Company commenced its operations.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Aug. 31, 2020
GOING CONCERN
Note 2 - GOING CONCERN	These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. During the year ending August 31, 2020, the Company recognized $3,002 in revenue and incurred a net loss of $23,528. As of August 31, 2020, the Company had an accumulated deficit of $48,167. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern within one year after the date that the financial statements are issued. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. These audited financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Due to the COVID-19 global pandemic, the global economy and financial markets have been disrupted and there continues to be a significant amount of uncertainty about the length and severity of the consequences caused by the pandemic. The Company has begun to experience general business disruptions that impeded normal business activity including its ability to provide storage area access, the Company premises is under lock-down, delivery of face-to-face interaction nor able to seek new clients. These events may affect the Company’s ability to continue as a going concern.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Aug. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Note 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Basis of Presentation The consolidated 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. The Company has elected August 31 year-end. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the period presented have been reflected herein. Audited consolidated financial statements The consolidated financial statements include the accounts of Yumba Records Storage, Inc. and its wholly owned Canadian subsidiary, Yumba Records Storage Inc. and wholly owned Indian subsidiary, Yumba Records Storage Private Limited. All significant intercompany balances and transactions have been eliminated upon consolidation. Use of Estimates and Assumptions The preparation of consolidated financial statements in conformity with US 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 of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. The Company maintains cash balances at one financial institution that is insured by the FDIC. As of August 31, 2020, the Company had $25,242 in cash. Revenue Recognition Revenues from our storage facilities, which are primarily composed of rental income earned pursuant to short term leases, are recognized as earned. Foreign Currency Translation The Company's functional and reporting currency is the United States dollar. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. Average monthly rates are used to translate expenses. Revenue and expenses are translated at average rates of exchange during the year. The assets and liabilities of foreign operations are translated to US dollars at exchange rates at the reporting date. The income and expenses of foreign operations are translated into US dollars at exchange rates at the dates of the transactions. Foreign currency adjustments are recognized in other comprehensive income in the accumulated other comprehensive income (loss). Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the determination of net income (loss). The Company has not, to the date of these consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Accounting for Income Taxes. The asset and liability method provide that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company will measure and record a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. Earnings Per Share Basic earnings per share is computed by dividing net income (or loss) by the weighted- average number of shares outstanding during the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of the Company, assuming the issuance of an equivalent number of common shares pursuant to options, warrants, or convertible debt arrangements. Diluted earnings per share is not shown for periods in which the Company incurs a loss because it would be anti-dilutive. Similarly, potential common stock equivalents are not included in the calculation if the effect would be anti-dilutive. No potentially dilutive debt or equity securities were issued or outstanding during the years ended August 31, 2020 and 2019. Fair Value of Financial Instruments The Company follows ASC 820, Fair Value Measurements and Disclosures, for all financial instruments and non-financial instruments accounted for at fair value on a recurring basis. This accounting standard establishes a single definition of fair value and a framework for measuring fair value, sets out a fair value hierarchy to be used to classify the source of information used in fair value measurement and expands disclosures about fair value measurements required under other accounting pronouncements. It does not change existing guidance as to whether or not an instrument is carried at fair value. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. AS 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; Level 3: Defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. Lease On February 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842). The ASU introduces a new leasing model for both lessees and lessors. Topic 842 provides guidance in how to identify whether a lease arrangement exists. Management has evaluated its premise leasing arrangement and concluded that the company’s lease has a lease term of 12 months or less and per ASC 842 qualifies as short-term. Per ASC 842, a lessee may elect not to apply the recognition requirements of ASC 842 to short-term leases and should recognize the lease payments in net income on a straight-line basis over the lease term. Recent Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606), In February 2016, the FASB issued ASU 2016-02, Leases, requiring leases to recognize most leases of their balance sheet and making targeted changes to lessor accounting. We do not believe the new standard has material effect on our results of operations because revenues from our storage facilities, which are primarily composed of rental income earned are short term leases and as such qualify for ASC 842 short-term lease exception. Our rental income is recognized as earned. From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, we believe that the impact of recently issued standards that are not yet effective will not have a material impact on our financial position or results of operations upon adoption.

COMMON STOCK

COMMON STOCK	12 Months Ended
	Aug. 31, 2020
COMMON STOCK
Note 4 - COMMON STOCK	The total number of common shares authorized that may be issued by the Company is 200,000,000 shares with a par value of $0.001 per share. During the period ended August 31, 2017, the Company issued 6,000,000 shares of common stock for total cash proceeds of $6,000 to the Company's director. The Company became a reporting company on June 3, 2019 and offered a total of 5,000,000 shares of Company’s common stock on a "self-underwritten" basis at a fixed price of $0.01 per share. In October 2019, the Company completed its offering of a total of 5,000,000 shares of Company’s common stock on a "self-underwritten" basis at a fixed price of $0.01 per share, for total proceeds of $50,000. In September 2020, the Company re-purchased 800,000 shares from 4 shareholders for $7,760. As at August 31, 2020, there were no issued and outstanding stock options or warrants.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Aug. 31, 2020
RELATED PARTY TRANSACTIONS
Note 5 - RELATED PARTY TRANSACTIONS	The Company does not own any real property. In February 2020, the Company entered into a lease agreement with a related party for $163 per month, for an eleven-month term. Three parties related to the Company have signed storage service contracts for $136 per month each. The Company has adopted ASC 842, Leases, on September 1, 2019 and elected to follow practical expedient for short term leases, which allows to not recognize lease liability and right of use asset on leases shorter than 12 months. The Company has received $15,170 from related party (Note 6).

RELATED PARTY NOTES PAYABLE, NE

RELATED PARTY NOTES PAYABLE, NET OF DISCOUNT	12 Months Ended
	Aug. 31, 2020
RELATED PARTY NOTES PAYABLE, NET OF DISCOUNT
Note 6 - RELATED PARTY NOTES PAYABLE, NET OF DISCOUNT	As of August 31, 2019, the Company received advances of $15,170 from a related party. These advances are unsecured with no interest. The Company entered into a formal promissory note for the advanced amount as of April 1, 2019, with a maturity date of December 31, 2021 with no stated interest rate. The computed discounted present value of the note payable at issuance, based on a 5% imputed interest rate, was $13,225 with $1,945 recognized as a debt discount, to be amortized over the life of the note using effective interest method. The amortization of the discount for the year ended August 31, 2020 was $ 690 (August 31, 2019 - $278), which is reported as interest expense. August 31, 2020 August 31, 2019 Principal amount of notes payable $ 15,170 $ 15,170 Less: unamortized discount (976 ) (1,667 ) Notes payable less unamortized discount $ 14,194 $ 13,503

INCOME TAXES

INCOME TAXES	12 Months Ended
	Aug. 31, 2020
INCOME TAXES
Note 7 - INCOME TAXES	The income tax benefit has been computed by applying the weighted average income tax rates of the United States (federal and state rates) of 21% to the net loss before income taxes calculated for each jurisdiction for the years ended August 31, 2020 and 2019, respectively. The tax effect of the significant temporary differences, which comprise future tax assets and liabilities, are as follows: August 31, 2020 August 31, 2019 Deferred tax asset attributed to: Net operating loss carryforward $ 23,528 $ 12,702 Statutory tax rate 21 % 21 % Income tax recovery at statutory rate 4,941 5,174 Less: valuation allowance (4,941 ) (5,174 ) Provision for income taxes $ - $ - As of August 31, 2020, the Company had net operating loss carry forwards of approximately $48,167 that may be available to reduce future years’ taxable income in varying amounts through 2040. 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 carryforwards. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred income tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based on consideration of these items, management has determined that enough uncertainty exists relative to the realization of the deferred income tax asset balances to warrant the application of a full valuation allowance as of August 31, 2020. The cumulative tax effect at the expected rate of 21% for 2020 and 2019 of significant items comprising the net deferred tax amount is: August 31, 2020 August 31, 2019 Deferred tax asset attributed to: Net operating loss carryforward $ 48,167 $ 24,639 Statutory tax rate 21 % 21 % Net deferred tax asset 10,115 5,174 Less: valuation allowance (10,115 ) (5,174 ) Net deferred tax assets $ - $ - In accordance with Section 382 of the U.S. Internal Revenue Code, the usage of the Company’s net operating loss carry forwards is subject to annual limitations following greater than 50% ownership changes. Tax returns for the years ended 2017 through 2020 are subject to review by the tax authorities. The sources and tax effects of the differences are as follows August 31, 2020 August 31, 2019 U.S. federal statutory rate 21 % 21 % Valuation allowance (21 %) (21 %) Effective rate 0 % 0 %

COMMITMENT AND CONTIGENCIES

COMMITMENT AND CONTIGENCIES	12 Months Ended
	Aug. 31, 2020
COMMITMENT AND CONTIGENCIES
Note 8 - COMMITMENT AND CONTIGENCIES	Litigation From time to time, the Company may become involved in litigation or claims arising out of its operations in the normal course of business. At the current time, the Company is not known to be a party to any legal proceedings that would be expected to have a materially adverse impact on its financial position, results of operations or cash flows. Lease Commitments The Company has signed a lease with a related party as discussed in Note 5 above. Service Contracts The Company signed storage service agreement with 3 related parties as discussed in Note 5 above.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Aug. 31, 2020
SUBSEQUENT EVENTS
Note 9 - SUBSEQUENT EVENTS	Management has evaluated subsequent events through to the date these audited consolidated financial statements were available to be issued. Based on their evaluation. Other than subsequent event disclosed in Note 4, no other material events have occurred that require disclosure.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Aug. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation	The consolidated 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. The Company has elected August 31 year-end. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the period presented have been reflected herein.
Audited consolidated financial statements	The consolidated financial statements include the accounts of Yumba Records Storage, Inc. and its wholly owned Canadian subsidiary, Yumba Records Storage Inc. and wholly owned Indian subsidiary, Yumba Records Storage Private Limited. All significant intercompany balances and transactions have been eliminated upon consolidation.
Use of Estimates and Assumptions	The preparation of consolidated financial statements in conformity with US 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 of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern.
Cash and Cash Equivalents	The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. The Company maintains cash balances at one financial institution that is insured by the FDIC. As of August 31, 2020, the Company had $25,242 in cash.
Revenue Recognition	Revenues from our storage facilities, which are primarily composed of rental income earned pursuant to short term leases, are recognized as earned.
Foreign currency translation	The Company's functional and reporting currency is the United States dollar. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. Average monthly rates are used to translate expenses. Revenue and expenses are translated at average rates of exchange during the year. The assets and liabilities of foreign operations are translated to US dollars at exchange rates at the reporting date. The income and expenses of foreign operations are translated into US dollars at exchange rates at the dates of the transactions. Foreign currency adjustments are recognized in other comprehensive income in the accumulated other comprehensive income (loss). Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the determination of net income (loss). The Company has not, to the date of these consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.
Income Taxes	The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Accounting for Income Taxes. The asset and liability method provide that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company will measure and record a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.
Earnings Per Share	Basic earnings per share is computed by dividing net income (or loss) by the weighted- average number of shares outstanding during the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of the Company, assuming the issuance of an equivalent number of common shares pursuant to options, warrants, or convertible debt arrangements. Diluted earnings per share is not shown for periods in which the Company incurs a loss because it would be anti-dilutive. Similarly, potential common stock equivalents are not included in the calculation if the effect would be anti-dilutive. No potentially dilutive debt or equity securities were issued or outstanding during the years ended August 31, 2020 and 2019.
Fair Value of Financial Instruments	The Company follows ASC 820, Fair Value Measurements and Disclosures, for all financial instruments and non-financial instruments accounted for at fair value on a recurring basis. This accounting standard establishes a single definition of fair value and a framework for measuring fair value, sets out a fair value hierarchy to be used to classify the source of information used in fair value measurement and expands disclosures about fair value measurements required under other accounting pronouncements. It does not change existing guidance as to whether or not an instrument is carried at fair value. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. AS 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; Level 3: Defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.
Lease	On February 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842). The ASU introduces a new leasing model for both lessees and lessors. Topic 842 provides guidance in how to identify whether a lease arrangement exists. Management has evaluated its premise leasing arrangement and concluded that the company’s lease has a lease term of 12 months or less and per ASC 842 qualifies as short-term. Per ASC 842, a lessee may elect not to apply the recognition requirements of ASC 842 to short-term leases and should recognize the lease payments in net income on a straight-line basis over the lease term.
Recent Accounting Pronouncements	In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606), In February 2016, the FASB issued ASU 2016-02, Leases, requiring leases to recognize most leases of their balance sheet and making targeted changes to lessor accounting. We do not believe the new standard has material effect on our results of operations because revenues from our storage facilities, which are primarily composed of rental income earned are short term leases and as such qualify for ASC 842 short-term lease exception. Our rental income is recognized as earned. From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, we believe that the impact of recently issued standards that are not yet effective will not have a material impact on our financial position or results of operations upon adoption.

RELATED PARTY NOTES PAYABLE, _2

RELATED PARTY NOTES PAYABLE, NET OF DISCOUNT (Tables)	12 Months Ended
	Aug. 31, 2020
RELATED PARTY NOTES PAYABLE, NET OF DISCOUNT
Schedule of notes payable, Unamortized discount as interest expense	August 31, 2020 August 31, 2019 Principal amount of notes payable $ 15,170 $ 15,170 Less: unamortized discount (976 ) (1,667 ) Notes payable less unamortized discount $ 14,194 $ 13,503

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Aug. 31, 2020
INCOME TAXES
Schedule of future tax assets and liabilities	August 31, 2020 August 31, 2019 Deferred tax asset attributed to: Net operating loss carryforward $ 23,528 $ 12,702 Statutory tax rate 21 % 21 % Income tax recovery at statutory rate 4,941 5,174 Less: valuation allowance (4,941 ) (5,174 ) Provision for income taxes $ - $ -
Schedule of deferred tax assets	August 31, 2020 August 31, 2019 Deferred tax asset attributed to: Net operating loss carryforward $ 48,167 $ 24,639 Statutory tax rate 21 % 21 % Net deferred tax asset 10,115 5,174 Less: valuation allowance (10,115 ) (5,174 ) Net deferred tax assets $ - $ -
Schedule of federal tax rate	August 31, 2020 August 31, 2019 U.S. federal statutory rate 21 % 21 % Valuation allowance (21 %) (21 %) Effective rate 0 % 0 %

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
GOING CONCERN
Net loss	$ (23,528)	$ (12,702)
Revenue	3,002	0
Accumulated deficit	$ (48,167)	$ (24,639)

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details narrative) - USD ($)	Aug. 31, 2020	Aug. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Cash	$ 25,242	$ 408

COMMON STOCK (Details Narrative

COMMON STOCK (Details Narrative) - USD ($)	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2017	Sep. 30, 2020	Oct. 31, 2019	Jun. 03, 2019
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares re purchased				800,000
Common stock, shares repurchased ,amount				$ 7,760
Proceeds from sale of common shares for cash	$ 50,000	$ 0
Common stock issued shares during period, Amount	50,000
Director [Member]
Common stock issued shares during period, Shares			6,000,000
Common stock issued shares during period, Amount			$ 6,000
Self Underwritten [Member]
Common stock, par value						$ 0.01
Common stock, shares re purchased					5,000,000
Common stock offering						5,000,000
Proceeds from sale of common shares for cash	$ 50,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Aug. 31, 2020	Feb. 29, 2020	Aug. 31, 2019
Proceeds from related party		$ 15,170
Due to related party per month	$ 585		$ 2,871
Lease [Member]
Due to related party per month		163
Storage Service [Member]
Due to related party per month		$ 136

RELATED PARTY NOTES PAYABLE NET

RELATED PARTY NOTES PAYABLE NET OF DISCOUNT (Details) - USD ($)	Aug. 31, 2020	Aug. 31, 2019
RELATED PARTY NOTES PAYABLE, NET OF DISCOUNT
Principal amount of notes payable	$ 15,170	$ 15,170
Less: unamortized discount	(976)	(1,667)
Notes payable less unamortized discount	$ 14,194	$ 13,503

RELATED PARTY NOTES PAYABLE N_2

RELATED PARTY NOTES PAYABLE NET OF DISCOUNT (Details Narrative) - USD ($)	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Amortization of debt discount	$ 690	$ 278
Related Party [Member]
Maturity date	Dec. 31, 2021
Advances from related party		$ 15,170
Imputed interest rate		5.00%
Present value of debt		$ 13,225
Amortization of debt discount	$ 690	278
Debt discount		$ 1,945

INCOME TAXES (Details )

INCOME TAXES (Details ) - USD ($)	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Deferred tax asset attributed to:
Net operating loss carryforward	$ 48,167	$ 24,639
Statutory tax rate	21.00%	21.00%
Income tax recovery at statutory rate	$ 10,115	$ 5,174
Less: valuation allowance	(10,115)	(5,174)
Provision for income taxes	0	0
Future Tax Assets [Member]
Deferred tax asset attributed to:
Net operating loss carryforward	$ 23,528	$ 12,702
Statutory tax rate	21.00%	21.00%
Income tax recovery at statutory rate	$ 4,941	$ 5,174
Less: valuation allowance	(4,941)	(5,174)
Provision for income taxes	$ 0	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Deferred tax asset attributed to:
Net operating loss carryforward	$ 48,167	$ 24,639
Statutory tax rate	21.00%	21.00%
Net deferred tax asset	$ 10,115	$ 5,174
Less: valuation allowance	(10,115)	(5,174)
Provision for income taxes	$ 0	$ 0

INCOME TAXES (Details 2)

INCOME TAXES (Details 2)	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
INCOME TAXES
U.S. federal statutory rate	21.00%	21.00%
Valuation allowance	(21.00%)	(21.00%)
Effective rate	0.00%	0.00%

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	12 Months Ended
	Aug. 31, 2020USD ($)
INCOME TAXES
Net operating loss carry forwards, expiration year	2040
Net operating loss carry forwards	$ 48,167