HomeMy WebLinkAbout2017 & 2018 _ Larimer & Co. Comparative Financials
Larimer & Company, LLC
Financial Statements-Income Tax Basis
2018 & 2017
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To the Managing Member
Larimer & Company, LLC
2911 Upper Park Road
Orlando, FL 32814
Management is responsible for the accompanying financial statements of Larimer &
Company, LLC (a single member LLC), which comprise the statement of assets, liabilities,
and equity as of December 31, 2018 and 2017, and the related statement of revenue
and expenses, income tax/cash basis for the years then ended, in accordance with
accounting principles generally accepted in the United States of America. We have
performed a compilation engagement in accordance with Statements on Standards
for Accounting and Review Services promulgated by the Accounting and Review
Services Committee of the AICPA. We did not audit or review the financial statements
nor were we required to perform any procedures to verify the accuracy or
completeness of the information provided by management. Accordingly, we do not
express an opinion, a conclusion, nor provide any form of assurance on these financial
statements.
The statement of cash flows and the statement of retained earnings have not been
presented. Accounting principles generally accepted in the United States of America
require that such a statement be presented when financial statements purport to
present financial position and results of operations.
Management has elected to omit substantially all of the disclosures required by
accounting principles generally accepted in the United States. If the omitted disclosures
were included in the financial statements, they might influence the user's conclusions
about the company's financial position, results of operations, and cash flows.
Accordingly, the financial statements are not designed for those who are not informed
about such matters.
Winter Park, Florida
August 8, 2019
As of Dec 31, 2018 As of Dec 31, 2017
ASSETS
Current Assets
Bank Accounts 112,499.68 49,769.35
Other Current Assets
Undeposited Funds 100.00 0.00
Total Other Current Assets 100.00 0.00
Total Current Assets 112,599.68 49,769.35
Fixed Assets
Vehicle 59,876.00 59,876.00
Accumulated Depreciation (17,875.35) (10,181.00)
Computer Equipment 4,855.88 1,597.00
Total Fixed Assets 46,856.53 51,292.00
TOTAL ASSETS 159,456.21 101,061.35
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Other Current Liabilities
Retirement Plan Payable 34,000.00 0.00
Total Other Current Liabilities 34,000.00 0.00
Total Current Liabilities 34,000.00 0.00
Total Liabilities 34,000.00 0.00
Equity
Member Contribution 64,665.66 64,665.66
Member Distribtution (119,786.59) (17,900.00)
Retained Earnings 36,395.69 0.00
Net Revenue-Current Year 144,181.45 54,295.69
Total Equity 125,456.21 101,061.35
TOTAL LIABILITIES AND EQUITY 159,456.21 101,061.35
Total
Larimer & Company, LLC (a single member LLC)
Statement of Assets, Liabilities, and Equity-Income Tax/Cash Basis
As of December 31, 2018 and 2017
See Accompanying Accountant's Report
Jan - Dec 2018 Jan - Dec 2017
Revenue
Discounts given (10,487.50) (98,055.00)
Services 318,404.96 216,356.16
Total Revenue 307,917.46 118,301.16
307,917.46 118,301.16
Expenses
Advertising 6,000.00 531.00
Printing 0.00 411.20
Stationery & Printing 2,580.47 904.16
Total Advertising 8,580.47 1,846.36
Auto 0.00 581.00
Auto Insurance 1,564.28 0.00
Auto Service 1,803.03 758.87
Gas 2,159.64 1,308.37
Parking 107.00 282.00
Tolls 40.00 56.00
Total Auto 5,673.95 2,986.24
Awards Submissions 60.00 0.00
Bank Charges 102.86 95.00
Charitable Contributions 2,712.50 186.87
Client Gifts 3,217.47 952.76
Communications 1,432.53 0.00
Depreciation Expense 7,694.35 10,181.00
Dues & Subscriptions 761.50 673.00
Internet 780.88 0.00
Labor 79,692.53 34,117.20
Legal & Professional Fees 1,638.75 160.00
Meals and Entertainment 5,245.03 4,261.53
Office/General Administrative Expenses 1,304.33 4,162.59
Promotional 639.78 0.00
QuickBooks Payments Fees 390.55 0.00
Repair & Maintenance 218.95 0.00
Software Subscriptions 24.95 120.00
Stock Photography/Creative Templates 968.50 0.00
Supplies 0.00 1,597.00
Travel 2,449.62 1,561.07
Bank Charges 33.44 0.00
Hotels & Accommodations 3,857.76 0.00
Rental Cars 254.39 0.00
Transportation 393.52 0.00
Total Travel 6,988.73 1,561.07
Travel Meals 1,439.40 936.85
Websites 0.00 0.00
inspiringbrands.com 168.00 168.00
Total Websites 168.00 168.00
Total Expenses 129,736.01 64,005.47
Net Operating Revenue 178,181.45 54,295.69
Other Expenses
Solo 401K Contribution 34,000.00 0.00
Total Other Expenses 34,000.00 0.00
Net Other Revenue (34,000.00) 0.00
Net Revenue 144,181.45 54,295.69
Larimer & Company, LLC (a single member LLC)
Statement of Revenue and Expenses-Income Tax/Cash Basis
Years ended December 31, 2018 and 2017
See Accompanying Accountant's Report