January 2019 Accounts

Website Cryptocurrency Mining

January 2019 Accounts

February 11, 2019 Accounts News 0

We have taken further action to reduce costs to an absolute minimum this month. With total expenditure at just slightly over $1000 USD. This puts us in a strong position to work through the crypto winter. No ETH was sold this month which resulted in a small loss however we still have ample funds in reserve and have since liquidated a small amount in February to cover our ongoing costs. We plan to continue to liquidate ICO funds only as and when we need them to cover the company costs.

Income Report


Year to date

$$



Income

Sale of cryptocurrency
24702



Direct income expenses

Purchases257
Domain names0




257
Gross Income
24445



Less Overheads

Office Rent 0
Salaries14993
Advertising24588
Press Releases3121
Mileage Expenses0
Repairs and renewals 0
Telephone Charges16
Stationery, Printing & Postage779
Server costs6766
Email provider328
Insurance0
Travel & Business Entertainment2102
Paypal and Bank Charges57
Currency Exchange variation917
Legal and accountancy fees1310
Depreciation281



Total Overheads55259



Net Income
-30814

Balance Sheet


$$
Fixed Assets

Plant & Machinery$0
Motor Vehicles$0
Office Equipment$1,644


$1,644
Current Assets

Sundry Debtors$0
Bank Account 1$2,043
Bank Account 2-$8,446
Bitcoin/Ethereum$0
Paypal account-$234


-$6,637
Creditors

Trade Creditors$2,653
Sundry Creditors$0
Loan Account$0
Taxation$4,000


$6,653
Net Current Assets
-$11,646



Creditors after one year

Long Term Loan
$0



Net Assets
-$11,646



Capital & Reserves

Share Capital
$1,316
Dividends Paid$0
Profit & Loss$17,852
Income Report-$30,814


-$12,962


-$11,646