What was the total value of Amerispec Inspection Services' total assets in 2023 as restated?
Amerispec_Inspection_Services Franchise · 2025 FDDAnswer from 2025 FDD Document
nd timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
Birmingham, Alabama April 30, 2025
TCB Services HoldCo, LLC and Subsidiaries Consolidated Balance Sheets December 31, 2024 and 2023
| 2024 | 2023 As Restated | |
|---|---|---|
| ASSETS | ||
| Current Assets | ||
| Cash | $ 1,736,027 | $ 1,861,862 |
| Accounts receivable, net | 1,744,530 | 1,617,560 |
| Other receivables | 485,856 | - |
| Prepaid expenses and other current assets | 337,782 | 190,172 |
| Total Current Assets | 4,304,195 | 3,669,594 |
| Property and equipment, net | 1,105,077 | 42,500 |
| Right-of-use asset - operating | 1,556,153 | - |
| Goodwill, net | 13,591,343 | 10,258,260 |
| Intangible assets, net | 11,920,040 | 13,034,791 |
| Deferred tax assets | 94,570 | - |
| Notes receivable | 149,239 | 268,724 |
| Total Assets | $ 32,720,617 | $ 27,273,869 |
| LIABILITIES AND MEMBERS' EQUITY | ||
| Current Liabilities | ||
| Accounts payable | $ 1,188,298 | $ 732,638 |
| Accrued expenses and other payables | 736,452 | 458,698 |
| Deferred revenue | 484,468 | - |
| Current portion of notes payable | 821,429 | - |
| Line of credit | 500,000 | - |
| Current portion of operating lease liabilities | 493,454 | - |
| Total Current Liabilities | 4,224,101 | 1,191,336 |
| Noncurrent Liabilities | ||
| Notes payable, net of current porti |
Source: Item 23 — Receipts (FDD pages 47–172)
What This Means (2025 FDD)
According to Amerispec Inspection Services' 2025 Franchise Disclosure Document, the company's total assets in 2023, as restated, amounted to $27,273,869. This figure represents the sum of all current and non-current assets held by Amerispec Inspection Services at the end of the 2023 fiscal year, after adjustments made during the restatement process. These assets include cash, accounts receivable, property and equipment, goodwill, intangible assets, and other financial instruments.
The restatement of the 2023 financials indicates a change in how Amerispec Inspection Services accounted for certain aspects of its business, specifically concerning the identification and valuation of intangible assets separately from goodwill. This adjustment was made to conform with generally accepted accounting principles (GAAP) in the United States. The restated asset value provides a more accurate representation of the company's financial position for that year.
For a prospective franchisee, understanding the asset values and any restatements is crucial for assessing the financial health and stability of Amerispec Inspection Services. It's important to review the components of these assets and understand how they contribute to the overall value of the company. Additionally, franchisees should inquire about the reasons for the restatement and any potential implications for future financial performance. Reviewing the notes to the financial statements and seeking professional financial advice can provide further clarity and insight.