What was the total amount of current assets for All Team in 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 |
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 total current assets in 2022 were $3,853,229. Current assets include cash, accounts receivable, advances to related parties, prepaid expenses, and amounts due from the IRS.
A prospective franchisee should understand the composition and trends of these assets. For example, a significant portion of All Team's current assets in 2022 was in accounts receivable, totaling $2,468,379, which are amounts owed to the company. Another notable component was advances to related parties, which amounted to $486,445. Cash on hand was $894,307, and prepaid expenses were a relatively small $4,098. There was no amount due from the IRS listed in 2022.
It's important to note the changes in these asset categories from 2022 to 2023. Total current assets decreased from $3,853,229 in 2022 to $3,252,900 in 2023. This decrease was primarily due to a reduction in accounts receivable. Monitoring these trends can provide insights into the financial health and operational efficiency of All Team. A potential franchisee should inquire about the reasons for these changes and how All Team manages its assets.
Understanding the current assets is crucial for assessing the short-term financial stability of All Team. These assets are essential for covering immediate liabilities and operational expenses. By reviewing these figures, a franchisee can gain a better understanding of All Team's liquidity and its ability to meet its financial obligations.