What was the total amount of accounts payable and accrued expenses for Angry Chickz in 2024?
Angry_Chickz Franchise · 2025 FDDAnswer from 2025 FDD Document
s that we identified during the audit.
Irvine, California
May 6, 2025
Financial Statements
Angry Chickz Franchising, LLC
Balance Sheets December 31, 2024 and 2023
| 2024 | 2023 | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS Cash Receivables and other current assets Current portion of contract asset | $ 187,344 8,507 1,000 | $ 100,000 - - |
| Total current assets | 196,851 | 100,000 |
| NON-CURRENT ASSETS Contract assets Property and equipment, net | 58,250 4,421 | - - |
| Total non-current assets | 62,671 | - |
| Total assets | $ 259,522 | $ 100,000 |
| LIABILITIES AND MEMBER'S DEFICIT | ||
| CURRENT LIABILITIES Accounts payable and accrued expenses Current portion of contract liability | $ 21,903 10,000 | $ 46,753 - |
| Total current liabilities | 31,903 | 46,753 |
| NON-CURRENT LIABILITIES Due to Member Contract liability, net of current | 79,705 386,250 | 72,576 - |
| Total long-term liabilitie |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 54)
What This Means (2025 FDD)
According to Angry Chickz's 2025 Franchise Disclosure Document, the accounts payable and accrued expenses for 2024 were $21,903. This figure represents the company's short-term liabilities to its suppliers and other creditors as of the end of the fiscal year. It is important to note that these are the liabilities of the Franchising entity, not necessarily of the individual franchise locations.
For a prospective franchisee, understanding accounts payable and accrued expenses is crucial because it provides insight into the company's short-term financial obligations. A high level of accounts payable could indicate that the company is having difficulty paying its bills, while a low level could suggest that the company is managing its finances effectively. However, it is important to consider these figures in the context of the company's overall financial performance and industry benchmarks.
It is also worth noting that the FDD includes financial statements that have been audited by an independent auditor, which adds a level of credibility to the figures presented. However, prospective franchisees should still conduct their own due diligence and consult with a financial advisor to fully understand the financial health of Angry Chickz before making an investment decision.