What was the total amount of accrued expenses for All Team as of December 31, 2023?
All_Team Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | |
|---|---|---|
| CURRENT LIABILITIES | ||
| Accounts payable - trade | $ 2,646 | $ 3,528 |
| Due to stockholder | 14,772 | 39,378 |
| Current maturity of operating lease liability | 58,709 | 53,626 |
| Credit line payable | 859,983 | 1,321,084 |
| Accrued expenses | 124,879 | 231,956 |
| Other funding liabilities | 1,133,303 | 919,887 |
| Total Current Liabilities | 2,194,292 | 2,569,459 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 33)
What This Means (2025 FDD)
According to All Team's 2025 Franchise Disclosure Document, the company's accrued expenses as of December 31, 2023, were $231,956. This figure is part of the company's current liabilities, which totaled $2,569,459 for that year. Understanding accrued expenses is crucial for prospective franchisees as it reflects obligations All Team has incurred but not yet paid.
The accrued expenses represent short-term liabilities that All Team is obligated to pay. These can include items such as salaries, utilities, or other operational costs. For a franchisee, this indicates the financial health and management practices of All Team. A significant increase in accrued expenses from one year to the next could signal potential cash flow issues or changes in payment practices.
It's important for potential franchisees to review these figures in the context of All Team's overall financial statements. Comparing the accrued expenses to previous years and to industry benchmarks can provide a clearer picture of the company's financial stability and operational efficiency. Additionally, understanding the nature of these accrued expenses can offer insights into the company's day-to-day operations and potential areas of financial risk or opportunity.