What was the total amount of prepaid expenses 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 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 33)
What This Means (2025 FDD)
According to All Team's 2025 Franchise Disclosure Document, the total prepaid expenses as of December 31, 2022, were $4,098. This figure is part of the company's audited financial statements, providing a snapshot of All Team's financial health at that specific point in time. Prepaid expenses are payments made for goods or services that have not yet been received or used, such as insurance premiums or rent paid in advance.
For a prospective All Team franchisee, understanding the level of prepaid expenses can offer insights into the company's operational practices and short-term financial obligations. A relatively low figure, as seen here, might suggest that All Team generally does not engage in extensive prepayment for its operational needs. However, it is essential to consider this figure in conjunction with other financial metrics to gain a comprehensive understanding of the company's financial strategy.
It's also worth noting that prepaid expenses can fluctuate from year to year based on various factors, including changes in business operations, vendor payment terms, and overall financial management strategies. Therefore, while the $4,098 figure provides a historical reference point, potential franchisees should also look at more recent financial statements and trends to assess the current financial landscape of All Team. Reviewing these figures over multiple years can provide a more nuanced understanding of how All Team manages its prepaid expenses and overall financial resources.