February 2019 Accounts

Website Cryptocurrency Mining

February 2019 Accounts

March 27, 2019 Accounts News 0

Further reductions in costs this month with total overheads reduced to $903 USD / month. This was mainly due to fluctuations in currency which could be volatile in the coming months due to the Brexit saga. Our fiat funds are held in GBP but the management accounts are in USD which is what causes the adjustment.

$5272 ETH was liquidated to cover overheads and a corporation tax bill for the 2017-2018 tax year that is coming up. The multisig wallet containing the ICO funds now stands at 200 ETH. https://etherscan.io/address/0xc880f4143950bfb27ed021793991f35466b99201

Token Price @ 28th February 2019 $0.001009
Market Cap @ 28th February 2019 $447,291

Reference: https://coinmarketcap.com/currencies/jsecoin/historical-data/

Income Report


Year to date

$$



Income

Sale of cryptocurrency
29974



Direct income expenses

Purchases290
Domain names0




290
Gross Income
29684



Less Overheads

Office Rent 0
Salaries14993
Advertising24588
Press Releases3121
Mileage Expenses0
Repairs and renewals 0
Telephone Charges16
Stationery, Printing & Postage779
Server costs7526
Email provider328
Insurance0
Travel & Business Entertainment2102
Paypal and Bank Charges65
Currency Exchange variation847
Legal and accountancy fees1475
Depreciation321



Total Overheads56162



Net Income
-26478

Balance Sheet


$$
Fixed Assets

Plant & Machinery$0
Motor Vehicles$0
Office Equipment$1,604


$1,604
Current Assets

Sundry Debtors$0
Bank Account 1$2,119
Bank Account 2-$3,981
Bitcoin/Ethereum$0
Paypal account-$234


-$2,096
Creditors

Trade Creditors$2,818
Sundry Creditors$0
Loan Account$0
Taxation$4,000


$6,818
Net Current Assets
-$7,310



Creditors after one year

Long Term Loan
$0



Net Assets
-$7,310



Capital & Reserves

Share Capital
$1,316
Dividends Paid$0
Profit & Loss$17,852
Income Report-$26,478


-$8,626


-$7,310