What was the total amount of other assets for All Team as of December 31, 2022?
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 | ||
| Operat |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 33)
What This Means (2025 FDD)
According to All Team's 2025 Franchise Disclosure Document, the total amount of other assets as of December 31, 2022, was $288,682. This figure is derived from the sum of several components, including operating lease right-of-use assets valued at $192,816, deposits of $34,537, and intangible assets worth $61,329.
For a prospective All Team franchisee, understanding the composition of these 'other assets' is crucial. Operating lease right-of-use assets represent the value of the company's right to use leased properties, while deposits likely cover security deposits for leases or other business-related expenses. Intangible assets typically include items like goodwill, trademarks, or patents, which contribute to the long-term value of the business.
It's important to note that these assets are distinct from current assets like cash and accounts receivable, as well as property and equipment. The financial statement provides a snapshot of All Team's financial health at a specific point in time, and analyzing these figures can help potential franchisees assess the company's stability and growth potential. Reviewing these figures over multiple years, as presented in the table, can reveal trends and inform investment decisions.
Prospective franchisees should consult with a financial advisor to fully understand the implications of these figures and how they relate to the overall financial performance of All Team.