What was the total liabilities and stockholder's equity for All Team as of December 31, 2023?
All_Team Franchise · 2025 FDDAnswer from 2025 FDD Document
he audit.
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; |
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 as of December 31, 2023, was $3,492,701. This figure represents the sum of what All Team owes to others (liabilities) and the value of the company belonging to its stockholders (equity) at that specific point in time. This value is derived from the assets, liabilities, and equity reported on All Team's balance sheet. The balance sheet provides a snapshot of the company's financial position, reflecting what it owns (assets), what it owes (liabilities), and the owners' stake in the company (equity).
For a prospective franchisee, this number offers insight into the overall financial health and structure of All Team. A higher total liabilities and stockholder's equity generally indicates a larger and potentially more stable company. However, it's crucial to examine the components of this figure. The liabilities portion reveals the extent of All Team's debts, while the stockholder's equity shows the net worth of the company. A franchisee should look for a healthy balance between liabilities and equity, as excessive debt could indicate financial risk.
It is important to note that the FDD includes financial statements that have been audited by an independent auditor. These audits add credibility to the financial information presented, as the auditors are attesting to the fairness of the presentation of All Team's financial position in accordance with accounting principles generally accepted in the United States of America. Prospective franchisees should carefully review the complete financial statements and consider consulting with a financial advisor to fully understand the financial implications for their investment decision.