table_specific

What was the total amount of accounts payable - trade for All Team in 2023?

All_Team Franchise · 2025 FDD

Answer from 2025 FDD Document

findings, and certain internal control related matters that we identified during the audit.

Tampa, Florida

May 30, 2024

ALL TEAM FRANCHISE CORPORATION BALANCE SHEETS

AS OF DECEMBER 31, 2023 AND 2022

2023 2022
CURRENT ASSETS
Cash $ 1,015,879 $ 894,307
Accounts receivable-trade, pledged, 1,075,420 2,468,379
less credit losses of $57,416 and $51,915, respectively
Advances to related parties 1,091,453 486,445
Prepaid expenses 20,368 4,098
Due from IRS 49,780 -
Total Current Assets 3,252,900 3,853,229
PROPERTY AND EQUIPMENT, net - -
OTHER ASSETS
Operating lease right-of-use assets 143,935 192,816
Deposits 34,537 34,537
Intangible assets 61,329 61,329
Total Other Assets 239,801 288,682
TOTAL ASSETS $ 3,492,701 $ 4,141,911
CURRENT LIABILITIES
Accounts payable - trade $ 3,528 $ -
Due to stockholder 39,378 69,378
Current maturity of operating lease liability 53,626 48,881
Credit line payable 1,321,084 1,708,300
Accrued expenses 231,956 277,627
Other funding liabilities 919,887 1,246,428
Total Current Liabilities 2,569,459 3,350,614
LONG TERM LIABILITY
Operating lease liability, net of current maturity 90,309 143,935
Total Long-Term Liability 90,309 143,935
Total Liabilities 2,659,768 3,494,549
STOCKHOLDER'S EQUITY
Common stock - $1 par value;

Source: Item 21 — FINANCIAL STATEMENTS (FDD page 33)

What This Means (2025 FDD)

According to All Team's 2025 Franchise Disclosure Document, the total accounts payable - trade for 2023 was $3,528. This figure represents the company's short-term liabilities to its suppliers or vendors for goods and services purchased on credit. It reflects the amount All Team owed to its trade creditors at the end of the 2023 fiscal year.

For a prospective franchisee, understanding the accounts payable is crucial as it provides insight into All Team's financial health and its ability to manage short-term obligations. A higher accounts payable balance could indicate that All Team is leveraging supplier credit to finance its operations, which may or may not be a cause for concern depending on the context of its overall financial situation. Conversely, a very low accounts payable balance might suggest that All Team pays its suppliers promptly or has negotiated favorable payment terms.

It's important to note that accounts payable is a standard component of a company's balance sheet and is used to assess its liquidity and solvency. Franchisees should consider this figure in conjunction with other financial metrics, such as accounts receivable, cash flow, and overall profitability, to gain a comprehensive understanding of All Team's financial stability. Reviewing these figures over multiple years, as presented in the FDD, can reveal trends and provide a more informed perspective on the company's financial management practices.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.