What was the total current liabilities 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 current liabilities as of December 31, 2023, were $2,569,459. This figure represents the sum of several short-term financial obligations, including accounts payable, amounts due to the stockholder, the current maturity of operating lease liabilities, credit line payable, accrued expenses, and other funding liabilities.
For a prospective All Team franchisee, understanding the franchisor's current liabilities is crucial for assessing the company's short-term financial health. A high level of current liabilities relative to current assets could indicate potential liquidity issues, meaning All Team might struggle to meet its immediate obligations. This could impact the support and services they can provide to franchisees.
Specifically, the components of All Team's current liabilities in 2023 included $3,528 in accounts payable, $39,378 due to the stockholder, $53,626 representing the current maturity of operating lease liability, $1,321,084 on its credit line, $231,956 in accrued expenses, and $919,887 in other funding liabilities. These individual figures provide a more detailed picture of the types of short-term debts All Team was managing at the time.
It is important for potential franchisees to review these figures in the context of All Team's overall financial statements, including their assets, revenues, and long-term liabilities, to gain a comprehensive understanding of the company's financial stability. Consulting with a financial advisor to interpret these statements is advisable before making any investment decisions.