Company Registration No. 10451885 (England and Wales)
Coinomi Ltd
Unaudited accounts
for the year ended 27 October 2017
Coinomi Ltd
Annual report and unaudited accounts
for the year ended 27 October 2017
Coinomi Ltd
Company Information
for the year ended 27 October 2017
Directors
Georgios Kimionis
Giannis Ntzegkoutanis
Company Number
10451885 (England and Wales)
Registered Office
71-75 SHELTON STREET
COVENT GARDEN
LONDON
WC2H 9JQ
ENGLAND
Coinomi Ltd
Statement of Financial Position
as at
27 October 2017
Creditors: amounts falling due within one year
(46,632)
Net current assets
12,663
Total assets less current liabilities
12,663
Capital and reserves
12,663
1 Directors' advances, credit and guarantees
Directors loan includes payments made to sub-contractors and other expenses incurred during initial stages of the company.
1. The company deals in cryptocurrency and accepts cryptocurrency as part of its services. The company also actively pays cryptocurrency for day to day matters to its sub-contractors.
2. Since cryptocurrency is actively used by the business to day to day affairs, it is classified as inventory. At the end of the year, the company had the following cryptocurrencies with their balance. They have been classified at lower of cost or Net Realizable Value - based on the market value of the cryptocurrencies at the end of the financial year. Each cryptocurrency was recognized based on the following values - either at cost or NRV:
(i) Bitcoin (BTC) - Recognized at cost - GBP 1,810 -
(ii) Ethreum (ETH) - Recognized at cost - GBP 27,654
(iii) Rivetz (RvT) - Recognized at NRV - GBP 21,970 (Cost GBP 33,364; Loss recognized at GBP 11,394)
(iv) Decred (DCR) - Recognized at cost - GBP 3,144
(v) InsaneCoin (INSN) - Recognized at NRV GBP 1,869. (Cost GBP 3,038; Loss recognized in P&L GBP 1,169)
3. Market exchange rates for cryptocurrencies at the end of the year were used from https://coinmarketcap.com/currencies
2 Average number of employees
During the year the average number of employees was 0.
Coinomi Ltd
Statement of Financial Position
as at
27 October 2017
(continued)
For the year ending 27 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and FRS 105, The Financial Reporting Standard applicable to the Micro-entities Regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the board on 28 July 2018
Georgios Kimionis
Director
Company Registration No. 10451885