February 2018 Accounts

Website Cryptocurrency Mining

February 2018 Accounts

March 6, 2018 Accounts Investors 0

The February accounts have been completed. Details below. We have also started accruing for end of year accountancy fees. This was something that we haven’t been invoiced for yet but do need to budget for. The figure $1,134 covers the accounts auditing for the last seven months, from next month we will be including this monthly. Travel & Business Entertainment at $96 was train tickets down to the conference in London last month. There’s some good news on server costs which we have been fighting with from the start. Since the last update we have moved away from Google Firebase’s datastore which has been costing us roughly $500 / month. From next month we should see the server costs drop well below $1000 despite the growing volume.

Management Accounts (all figures USD)

Income Report

  Year to date
  $ $
     
Income    
Token Crowdsale    
USD   54,023
Ethereum   10,413
Bitcoin   4,901
Adsense for Search   56
     
Direct income expenses    
Purchases 50  
Domain names 0  
     
  50  
Gross Income   69,342
     
Less Overheads    
     
Office Rent 0  
Salaries 2,826  
Advertising 3,154  
Mileage Expenses 0  
Repairs and renewals 0  
Telephone Charges 0  
Stationery, Printing & Postage 84  
Server costs 9,396  
Insurance 0  
Travel & Business Entertainment 96  
Paypal and Bank Charges 2,420  
Currency Exchange variation (1,562)  
Legal and accountancy fees 1,254  
Depreciation 0  
   
Total Overheads 17,668  
     
     
Net Income   51,674

Balance Sheet

  $ $
Fixed Assets    
     
Plant & Machinery 0  
Motor Vehicles 0  
Office Equipment 0  
    0
Current Assets    
     
   
Sundry Debtors 3,052  
Bank Account 1 36,106  
Bank Account 2 (1,530)  
Bitcoin/Ethereum 15,314  
Paypal account 1,531  
    54,474
Creditors    
Trade Creditors 1,134  
Sundry Creditors 0  
Loan Account 0  
Taxation 350  
     
    1,484
Net Current Assets   52,990
     
Creditors after one year    
Long Term Loan   0
     
Net Assets   52,990
     
     
Capital & Reserves    
     
Share Capital   1,316
Dividends Paid 0  
Profit & Loss 0  
Income Report 51,674  
    51,674
    52,990