What was the total liabilities and stockholder's equity 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 $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 | ||
| Operating lease right-of-use assets | 143,935 | 192,816 |
| Deposits | 34,537 | 34,537 |
| Intangible assets | 61,329 | 61,329 |
| Total Other Assets | 239,801 | 288,682 |
| TOTAL ASSETS | $ 3,492,701 | $ 4,141,911 |
| CURRENT LIABILITIES | ||
| Accounts payable - trade | $ 3,528 | $ - |
| Due to stockholder | 39,378 | 69,378 |
| Current maturity of operating lease liability | 53,626 | 48,881 |
| Credit line payable | 1,321,084 | 1,708,300 |
| Accrued expenses | 231,956 | 277,627 |
| Other funding liabilities | 919,887 | 1,246,428 |
| Total Current Liabilities | 2,569,459 | 3,350,614 |
| LONG TERM LIABILITY | ||
| Operating lease liability, net of current maturity | 90,309 | 143,935 |
| Total Long-Term Liability | 90,309 | 143,935 |
| Total Liabilities | 2,659,768 | 3,494,549 |
| 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 p |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 33)
What This Means (2025 FDD)
According to All Team's 2025 Franchise Disclosure Document, the total liabilities and stockholder's equity for the company in 2022 was $4,141,911. This figure represents the sum of all the company's debts (liabilities) and the value of the owners' stake in the company (stockholder's equity) at the end of the 2022 fiscal year. This value is derived from the balance sheet, a standard financial statement summarizing a company's assets, liabilities, and equity at a specific point in time.
Total liabilities for All Team in 2022 amounted to $3,494,549, encompassing both current liabilities (obligations due within one year) and long-term liabilities. Stockholder's equity, representing the owners' stake, totaled $647,362. This equity consists of common stock ($1,000), additional paid-in capital ($119,000), and retained earnings ($527,362). The sum of these liabilities and equity components equals the total assets of the company, reflecting the fundamental accounting equation (Assets = Liabilities + Equity).
For a prospective All Team franchisee, understanding the company's financial health is crucial. A high level of liabilities compared to equity might indicate higher financial risk, while a strong equity position suggests financial stability. Reviewing these figures in comparison to previous years and industry benchmarks can provide valuable insights. It's important to note that these figures reflect the financial position of All Team Franchise Corporation itself and not necessarily the performance of individual franchise locations. Franchisees should focus on the financial performance and projections for their specific franchise unit.