What was the amount of prepaid expenses and other current assets for Annex Brands in 2023?
Annex_Brands Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 12,219,000 | $ 11,992,000 |
| Accounts receivable, net of allowance for doubtful | ||
| accounts of $910,000 and $948,000, respectively | 1,377,000 | 1,642,000 |
| Prepaid expenses and other current assets | 1,220,000 | 704,000 |
| Total current assets | 14,816,000 | 14,338,000 |
Source: Item 21 — Financial Statements (FDD page 109)
What This Means (2025 FDD)
According to Annex Brands' 2025 Franchise Disclosure Document, the company's prepaid expenses and other current assets totaled $704,000 in 2023. This figure is part of the company's overall current assets, which totaled $14,338,000 for the same year.
For a prospective franchisee, this indicates the level of short-term financial obligations and resources Annex Brands had during that period. Prepaid expenses are costs that Annex Brands has paid in advance for goods or services to be received in the future, while other current assets include items like inventory or short-term investments that can be converted into cash within a year.
Analyzing these figures in comparison to previous and subsequent years, as well as in relation to Annex Brands' liabilities, can provide insights into the company's financial stability and operational efficiency. It's important to note that these figures are part of a larger financial picture, and a comprehensive review of the financial statements is necessary for a thorough understanding.