What was the total assets amount for All Team as of December 31, 2023?
All_Team Franchise · 2025 FDDAnswer from 2025 FDD Document
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Tampa, Florida March 24, 2025
ALL TEAM FRANCHISE CORPORATION BALANCE SHEETS
AS OF DECEMBER 31, 2024 AND 2023
| 2024 | 2023 | |
|---|---|---|
| CURRENT ASSETS | ||
| Cash | $ 629,272 | $ 1,015,879 |
| Accounts receivable-trade, pledged, | 589,672 | 1,075,420 |
| less credit losses of $63,416 and $57,416, respectively | ||
| Advances to related parties | 1,526,254 | 1,091,453 |
| Prepaid expenses | 81,663 | 20,368 |
| Due from IRS | - | 49,780 |
| Total Current Assets | 2,826,861 | 3,252,900 |
| PROPERTY AND EQUIPMENT, net | - | - |
| OTHER ASSETS | ||
| Operating lease right-of-use assets | 90,309 | 143,935 |
| Deposits | 34,537 | 34,537 |
| Intangible assets | 61,329 | 61,329 |
| Total Other Assets | 186,175 | 239,801 |
| TOTAL ASSETS | $ 3,013,036 | $ 3,492,701 |
| 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 |
| LONG TERM LIABILITY | ||
| Operating lease liability, net of current maturity | 31,600 | 90,309 |
| Total Long-Term Liability | 31,600 | 90,309 |
| Total Liabilities | 2,225,892 | 2,659,768 |
| STOCKHOLDER'S EQUITY | ||
| Common stock - $1 par value; 30,000 shares authorized, 1,000 | ||
| shares issued, and 1,000 shares outstanding | 1,000 | 1,000 |
| Additional paid in capital | 119,000 | 119,000 |
| Retained earnings | 667,144 | 712 |
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 assets as of December 31, 2023, were $3,492,701. This figure represents the sum of All Team's current assets, property and equipment, and other assets at that specific point in time. A prospective franchisee can use this information to assess the financial health and stability of All Team. Understanding the asset composition can provide insights into how All Team manages its resources.
Specifically, the current assets totaled $3,252,900, which included cash of $1,015,879, accounts receivable of $1,075,420 (net of credit losses), advances to related parties of $1,091,453, prepaid expenses of $20,368, and due from IRS of $49,780. Other assets totaled $239,801, including operating lease right-of-use assets of $143,935, deposits of $34,537, and intangible assets of $61,329.
Reviewing these figures in comparison to All Team's liabilities and equity can offer a more comprehensive view of the company's financial standing. For instance, the total liabilities as of December 31, 2023, were $2,659,768, and the total stockholder's equity was $832,933. This information, when analyzed alongside revenue and expenses, helps potential franchisees evaluate the overall financial performance and risk associated with investing in an All Team franchise.