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Last updated on August 9th, 2017 at 08:11 am
Webdiary finances in the post-Margo, post-Wayne era:
Expenditures
Content production and editing: $43,499.66
(includes settlements in lieu of notice)Other costs (computer and bank fees, equipment, etc): $2296.83
TOTAL: $45,796.49
Income (before GST deduction): Donations, ads, interest: $8362.05
Income (after GST deduction): Donations, ads, interest: $7601.87
Loss from operations: $38,194.62
Met by: Loans from Directors: Margo Kingston: $42,236.21 (note)
Assets:
Shares: $100
Cash in hand: $3418.59
GST reclaimed as cash in December 05 BAS: $523
Net assets: $4041.59
Note: Loan is non-interest bearing, undated. We feel it right to record in the accounts of the company that Margo met almost all of its costs from August to December 2005, and that we have the obligation to repay her at some future date if the business thrives.
Like that’s ever going to happen, what with global bold tag reserves remaining so low. Any accountants or other business-minded folk are invited to consider these figures (they cover the three months up to December) and calculate just when Webdiary Pty Ltd may have sufficient funds to return Margo’s money.
