by Newly Enlightened 11530 Replies latest watchtower scandals
LMSA,
It looks like you're at the right place. You can click "more information" on the balance sheet, income statement, balance sheet addendum, and cash flow statement to get the complete statements. They do not have a download feature, but if you print the financial statement to a .pdf file, it will produce a complete statement on .pdf.
You can click "more information" on the balance sheet, income statement, balance sheet addendum, and cash flow statement to get the complete statements.
144001 - I downloaded it and have combined all 4 PFs into one. The share is below. Download it and see if this was what you were looking for.
Upload files for free - Ipsilon Media Balance P&L Addendum Cashflow.pdf - ufile.io
It seems to be the same info as the other PDF, though this one is translated by the site and is in Euros, which makes it easier to read.
LMSA,
Those are the statements I found. I saw nothing particularly interesting about them, but there was one item that seems worthy of some attention. There's a line item on the cash flow statement with a Euro amount shown for 2022 only: "Change of capital and reserve without the profit/loss of the current year" in the amount of 11,185 Euros. This appears to be a withdrawal of cash that is not an expense of the business; therefore, it is not reflected in the income statement. Since it reduces the cash balance, it affects the balance sheet and the statement of cash flows.
that line is the opposite of Capital Share dividends. Since the company has a loss for this year part of that loss is covered by financial investment. Basically you cover the loss by your special reserve. This doesnt mean cash is moved from A to B. It's just a reduction of a reserve to cover a loss. If next year the company has a profit this will return to the reserve. No taxes will be paid. Sometimes it is a useful move for companies to pay less corporation tax. In my opinion the only relevant aspect of the financials is that despite the reduction in revenue the wages increased and this is unhealthy for any businesses having bad time.
Since the company has a loss for this year part of that loss is covered by financial investment. Basically you cover the loss by your special reserve. This doesn't mean cash is moved from A to B.
That's not what the statement reflects. The statement of cash flows shows the impact on the cash balance of operating activities, investing activities and financing activities. The 11,185 Euros I referenced in my last post is shown as an "investment activity" cash outflow affecting the cash balance. It is included in the "net cash flow" amount of -41,619 Euros that is added to cash at the start of the period of 49,843 Euros to arrive at the balance of cash at the end of the 2022 reporting period, 8,224 Euros. Therefore, cash was definitely moved from A to B. Additionally, since this is a capital transaction, there is no income or expense associated with it and it is unlikely to have any effect on the taxes to be paid by the business.
Hi all, would anyone be able translate that financial discussion into simple terms…..I have no idea what all this means 🤦♀️
I've never seen financial statements that look like that. Are these some sort of Croatian tax report? It looks like a summary of activity, without the detailed back up, it's hard to see what's going on.
Having said that I'll put on my old-guy curmudgeon hat on.
This isn't small potatoes. It's not even tiny potatoes, maybe it's microscopic potatoes. Either he has some other source/stash of cash or he is nowhere near being as big a deal as he thinks.
Overall impression: although I'm not sure what some of these numbers represent; but I can say that, in general, if I wrote up a financial statement for JWJoe's Janitorial company, the numbers would look like this. You have a guy operating his own little company and taking the profit home.
Hi all, would anyone be able translate that financial discussion into simple terms…..I have no idea what all this means 🤦♀️
I'm right there with you Kim. I have no idea what they are talking about! LOL! I hate numbers and math. Makes me want to go drink some blueberry vodka that I have.
Although it seems to be that Lloyd is wealthier than he is letting on. I feel so sad for the poor souls that are swallowing his poor man routine.
@JeffT
I've never seen financial statements that look like that. Are these some sort of Croatian tax report?
No Jeff. The official Croatian Tax submission is the one you already got.
Cash flow is only an internal sheet that helps a business to deal with cash in and out as you probably know.
Although it seems to be that Lloyd is wealthier than he is letting on.
Lloyd’s basically running a “ma and pop” outfit if I am reading this correctly. Nothing really special here, the business is just a vehicle for funnelling money to three parties, Lloyd, and to a lesser extent, Dijana and Tibor.
The company has physical assets such as their equipment and liquid assets, such as the €8200 they had in their bank account. That was essentially their surplus/profit, and the loss was claimed in order to not have to pay any of the profit toward taxes.
The company pays their income taxes, pensions and whatever else the Croatian government requires and distributes a net payment to the three employees. He can’t just give everyone cash and call it a day. They would also have to file personal tax forms and pay any deficiency or be refunded for overpayment.
Lloyd also has another company in the UK for his book publishing. Not anything as big as Ipsilon but it’s another source.
