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COMPAI~IEROS INC.FINANCIAL STATEMENTS
DECEMBER 31, 2014(Unaudited - See Notice to Reader)
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CHARTERED PROFESSIONAL ACCOUNTANTS
NOTICE TO READER
On the basis of information provided by management, we have compiled the balance sheet ofCompafieros Inc. as at December 3 l, 2014 and the statement of loss and deficit for the year then ended.
We have not performed an audit or a review engagement in respect of these financial statements andaccordingly, we express no assurance thereon.
Readers are cautioned that these statements may not be appropriate for their purposes.
The prior year figures were compiled by another firm of licensed public accountants.
March 26, 2015Toronto, Ontario
RSSM LLPLicensed Public Accountants
COMPAlqEROS INC.BALANCE SHEET
AS AT DECEMBER 31, 2014(Unaudited - See Notice to Reader)
CURRENTCash and term depositsIncome taxes receivablePrepaid and sundry
CAPITAL ASSETSOffice equipmentComputer equipment
Less: accumulated amortization
2014 2013$ $
ASSETS
30,389 56,3844,930 4,930
13767 1480949 086 76 123
1,245 1,245__2 4~19 2419
3,664 3,664__~ 1718
1,160 1,946
50,246 78,069
LIABILITIES
CURRENTAccounts payable and accrued liabilitiesDue to shareholderUneamed revenue
CAPITAL STOCKAuthorized
UnlimitedUnlimitedUnlimited
Issued100
SHAREHOLDER’S DEFICIENCY
Common sharesClass A Special sharesClass B Special shares
Common shares
9,684 10,73023,517 17,995
72099 65 201
105300 93 926
100 100
(55,054) (15,857)
50,246 78,069
DEFICIT
APPROVED ON BEHALF OF THE BOARD:
~ ~’tt~ ~ql,? )~t,/t ~ DirectorDuarte, Gonzalo
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COMPA~EROS INC.STATEMENT OF LOSS AND DEFICIT
FOR THE YEAR ENDED DECEMBER 31, 2014(Unaudited - See Notice to Reader)
(comparative figures are for the three months ended December 31,2013)
2014 2013$ $
REVENUEProgram feesProgram surplusProject feesProject donationsProject surplus
113,918
63,74048,3026 198
232 158
EXPENSESProject expenses - see attached scheduleProgram expenses - see attached scheduleAdministrative expenses - see attached scheduleForeign exchange gain/lossAmortization
LOSS, before income taxesIncome taxes
74,331113,36772,9519,920
786
271 355
(39,197)
NET LOSS, for the year
(DEFICIT) RETAINED EARNINGS, beginning of year
DEFICIT, end of year
(39,197)
(15,957)
(55,154)
431
431
10,2317,588
19,133(2,745)
20234 409
(33,978)
(3o,115)14,158
(15,957)
COMPA~qEROS INC.SCHEDULE OF PROJECT EXPENSES
FOR THE YEAR ENDED DECEMBER 31, 2014(Unaudited - See Notice to Reader)
(comparative figures are for the three months ended December 31, 2013)
2014$
Family housingSalaries & benefitsManagement salaryChildren, youth educationContracted labourHealth, well-being
28,13726,72010,9913,8153,756
912
74,331
2013$
5,7412,610
88695143
10,231
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COMPAI~EROS INC.SCHEDULE OF PROGRAM EXPENSES
FOR THE YEAR ENDED DECEMBER 31, 2014(Unaudited - See Notice to Reader)
(comparative figures are for the three months ended December 31, 2013)
2014 2013$ $
Accomodation, water, mealsTransportationSalaries & benefitsManagement salaryExcursions
58,239 1627,65615,182 4,96310,991 2,609
1,299
113,367 7,588
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COMPAI~EROS INC.SCHEDULE OF ADMINISTRATIVE EXPENSESFOR THE YEAR ENDED DECEMBER 31, 2014
(Unaudited - See Notice to Reader)(comparative figures are for the three months ended December 3 l, 20 l 3)
2014 2013$ $
Office and administrationForeign payroll taxes paidSalaries & benefitsManagement salaryAccountingTravelComputersGraphicsCommunicationSuppliesLegal
20,50614,87514,72410,9915,4383,8901,608
423267229
3,64955
4,8792,6105,0601,471
67532114696
72,951 19,133
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