What was the total reported value of 360 Painting's other assets in 2022?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
Charlottesville, Virginia
April 22, 2025
| 2024 | 2023 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 943,020 $ | 722,074 |
| Accounts receivable, net | 3,218,426 | 2,838,106 |
| Prepaid expenses and other current assets | 3,666,212 | 2,486,419 |
| Total current assets | 7,827,658 | 6,046,599 |
| Property and equipment, net |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to 360 Painting's 2025 Franchise Disclosure Document, the audited consolidated financial statements of Premium Service Brands, LLC and Subsidiaries include financial data for the years ended December 31, 2024, December 31, 2023, and December 31, 2022. However, the specific value of "other assets" for 2022 is not explicitly detailed in the provided financial table.
The table does provide the value of other assets for 2024 and 2023, which were $7,888,574 and $7,097,279, respectively. This suggests that "other assets" is a reported line item in the financial statements.
To obtain the "other assets" value for 2022, a prospective franchisee should review the full audited consolidated financial statements of Premium Service Brands, LLC and Subsidiaries for the years ended December 31, 2024, December 31, 2023 and December 31, 2022, which are referenced as Exhibit B to the 360 Painting Franchise Disclosure Document. If that exhibit does not contain the information, the prospective franchisee should ask 360 Painting's franchisor directly for the specific figure.