What was the total liabilities 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 company's total liabilities in 2024 were $117,858. This figure represents the sum of current liabilities ($31,903) and non-current liabilities ($1,15,955). Current liabilities include accounts payable and accrued expenses, as well as the current portion of contract liability. Non-current liabilities consist of amounts due to the Member and contract liability net of the current portion.
For a prospective Angry Chickz franchisee, understanding the franchisor's liabilities can provide insight into the financial stability and obligations of the company. A high level of liabilities might indicate a greater financial risk, while a lower level could suggest a more stable financial position. However, it is essential to consider the nature of the liabilities, such as whether they are short-term or long-term, and to whom they are owed.
It's also important to note that a significant portion of Angry Chickz's non-current liabilities is "Due to Member," which represents funds advanced to the company by its Member. This related-party transaction is recorded as long-term because it is not expected to be paid within 12 months of the balance sheet date. Franchisees should inquire about the terms and conditions of these related-party transactions to fully understand their potential impact on the franchisor's financial health.
Overall, while the total liabilities figure provides a snapshot of Angry Chickz's obligations, prospective franchisees should conduct a thorough review of the entire financial statement, including the balance sheet, income statement, and cash flow statement, to gain a comprehensive understanding of the franchisor's financial condition. Consulting with a financial advisor is recommended to assess the risks and opportunities associated with investing in an Angry Chickz franchise.