April 2018 Accounts

Website Cryptocurrency Mining

April 2018 Accounts

May 5, 2018 Accounts News 0

Here are the accounts for April, crypto markets bounced back a bit which offset our costs. Server costs are reduced further to just $647 USD, these are likely to grow during the ICO due to increased volume and data transfer costs but we have optimized it as far as we can. Accountancy fees are $175/month which is an accrual for end of your accounts submission and auditing by a 3rd party accountancy firm. These monthly accounts are completed in-house. Travel costs $121 are train tickets to the blockchain expo at the London Olympia last month. Currency exchange variation is due to fluctuations on the cable GBP/USD.

 

 

Income Report

Direct income expenses    
Purchases 70  
Domain names 0  
     
  70  
Gross Income   59,201
     
Less Overheads    
     
Office Rent 0  
Salaries 5,695  
Advertising 3,154  
Mileage Expenses 0  
Repairs and renewals 0  
Telephone Charges 0  
Stationery, Printing & Postage 84  
Server costs 10,820  
Insurance 0  
Travel & Business Entertainment 325  
Paypal and Bank Charges 2,420  
Currency Exchange variation (1,778)  
Legal and accountancy fees 1,604  
Depreciation 0  
   
Total Overheads 22,325  
     
     
Net Income   36,876

 

Balance Sheet

  $ $
Fixed Assets    
     
Plant & Machinery 0  
Motor Vehicles 0  
Office Equipment 0  
    0
Current Assets    
     
   
Sundry Debtors 3,052  
Bank Account 1 33,217  
Bank Account 2 (2,974)  
Bitcoin/Ethereum 5,192  
Paypal account 1,531  
    40,018
Creditors    
Trade Creditors 1,484  
Sundry Creditors 0  
Loan Account 0  
Taxation 342  
     
    1,826
Net Current Assets   38,192
     
Creditors after one year    
Long Term Loan   0
     
Net Assets   38,192
     
     
Capital & Reserves    
     
Share Capital   1,316
Dividends Paid 0  
Profit & Loss 0  
Income Report 36,876  
    36,876
    38,192