K fold cross validation reduces accuracy
Chance plays a big role when the data is split. For example maybe the training set contains a particular combination of features, maybe it doesn't; maybe the test set contains a large proportion of regular "easy" instances, maybe it doesn't. As a consequence the performance varies depending on the split. 

Let's imagine that the performance of your classifier would vary between 0.80 and 0.90:


  In one approch I just split the dataset into training set and test set


With this approach you throw the dice only once: maybe you're lucky and the performance will be close to 0.9, or you're not and it will be close to 0.8. 


  while with the other approch I use k fold cross validation. 


With this approach you throw the dice k times, and the performance is the average across these $k$ runs. It's more accurate than the previous one, because by averaging over several runs the performance is more likely to be close to the mean, i.e. the most common case.

Conclusion: k-fold cross-validation isn't meant to increase performance, it's meant to provide a more accurate measure of the performance.