NOTICE
OF ANNUAL MEETING
The Annual Meeting of the stockholders of Las Flores Water
Company will be held on Monday, March 15, 2021 at 7 p.m. for the purpose of electing
Directors and for the transaction of such other business as may regularly come
before them.
Due to restrictions for in person meetings, Las Flores Water
Company’s Annual Meeting will be conducted via ZOOM. Here is the information to
join the meeting.
To join
the LFWC Zoom Meeting type the following address in your internet browser:
https://us02web.zoom.us/j/81218038804?pwd=WmFRclltYmJrNSswSkt0MENwei83dz09
You may
be asked to input this information:
Meeting
Id: 812 1803 8804
Passcode:
945218
You may
also join the Zoom meeting by phone:
Dial: +1-408-638-0968
When
prompted enter the Meeting id and then the Passcode listed above.
LAS FLORES WATER CO. |
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STATEMENT OF INCOME |
BALANCE SHEET |
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FOR THE YEAR ENDING DEC. 31, 2020 |
FOR THE YEAR ENDING DEC. 31, 2020 |
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REVENUES |
CURRENT ASSETS |
||||||||||||
Water Sales |
2,023,684 |
Cash & Cash Equivalents |
1,164,839 |
||||||||||
Other |
0 |
Accounts Receivable, Net |
191,583 |
||||||||||
Total Revenues |
2,023,684 |
Materials & Supplies |
30,711 |
||||||||||
Prepaid Expenses |
8,832 |
||||||||||||
OPERATING & MAINTENANCE
EXPENSES |
Total Current Assets |
1,395,965 |
|||||||||||
Source of Supply |
788,472 |
||||||||||||
Pumping & Purification |
208,685 |
UTILITY PLANT |
|||||||||||
Distribution |
240,359 |
Land |
36,236 |
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Total Direct Costs |
1,237,516 |
Buildings |
422,434 |
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Map, Survey & Engineering |
73,003 |
||||||||||||
Gross Profit |
786,168 |
Wells, Tunnels & Reservoirs |
1,100,705 |
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Distribution System |
2,534,798 |
||||||||||||
OVERHEAD EXPENSES |
Furniture & Fixtures |
10,871 |
|||||||||||
Commercial |
19,858 |
Trucks |
121,154 |
||||||||||
Administrative |
401,641 |
Equipment |
196,862 |
||||||||||
General |
148,983 |
Construction in Progress |
0 |
||||||||||
Total Overhead Expenses |
570,482 |
Total Utility Plant |
4,496,063 |
||||||||||
Income before other Income & |
Less Accumulated Depreciation |
(2,394,243) |
|||||||||||
Provision for Income Taxes |
215,686 |
Utility Plant - NET |
2,241,084 |
||||||||||
OTHER INCOME |
33,257 |
OTHER ASSETS |
1,000 |
||||||||||
INTEREST EXPENSE |
(14,994) |
||||||||||||
LOSS ON
DISPOSITION OF ASSETS |
0 |
TOTAL ASSETS |
$3,638,049 |
||||||||||
INTEREST INCOME |
5,641 |
||||||||||||
23,904 |
LIABILITIES & STOCKHOLDERS' EQUITY |
||||||||||||
CURRENT
LIABILITIES |
|||||||||||||
(Loss) Income before provision for Income Taxes |
$239,590 |
Current portion of note payable |
46,599 |
||||||||||
Accounts Payable |
75,378 |
||||||||||||
PROVISION FOR
INCOME TAXES |
800 |
Accrued Liabilities |
38,199 |
||||||||||
Total Current Liabilities |
160,176 |
||||||||||||
Net Income |
$238,790 |
||||||||||||
NOTE PAYABLE Less
current portion |
233,431 |
||||||||||||
Total Liablilities |
393,607 |
||||||||||||
STOCKHOLDERS'
EQUITY |
|||||||||||||
Capital Stock - Authorized |
|||||||||||||
5,000 Shares, $100 Par Value |
366,675 |
||||||||||||
Paid in Capital |
240,002 |
||||||||||||
Retained Earnings |
2,637,765 |
||||||||||||
Total Stockholds' Equity |
3,244,442 |
||||||||||||
$3,638,049 |
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**Abridged
financial statements. Contact office if you require copy of a full statement
(626)797-1138 |
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