v3.3.1.900

Fixed Assets

12 Months Ended

Sep. 30, 2015

Notes to Financial Statements

Note 8 - Fixed Assets

In September 2014 the Company purchased for $10,500 land and a small office located at 1 Varpuiela, Kakciems, Latvia, LV-2135. The building is valued at $7,500 and the land at $3,000. The Company utilizes the space as a primary office.

Fixed assets are stated at cost. The Company utilizes straight-line depreciation over the estimated useful life of the asset.

Land	0 years
Buildings	15 years
Office Equipment	7 years

During the year ended September 30, 2015 the Company recorded $500 in depreciation expense for the building. No depreciation was recorded for office equipment as the Company had not yet purchased any.

X

- References

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The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

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