What was the total amount of accounts payable - trade for All Team in 2023?
All_Team Franchise · 2025 FDDAnswer 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.