What was the balance at September 30, 2022, for Annex Brands?
Annex_Brands Franchise · 2025 FDDAnswer from 2025 FDD Document
| Balance at September 30, 2021 | $ | 3,638,000 | $ | 9,321,000 | $ | 12,959,000 |
|---|---|---|---|---|---|---|
| Net income | - | 7,476,000 | 7,476,000 | |||
| Distributions | - | (7,085,000) | (7,085,000) | |||
| Stock options exercised (555 shares) | _ | 93,000 | _ | _ | 93,000 | |
| Balance at September 30, 2022 | 3,731,000 | 9,712,000 | 13,443,000 | |||
| Net income | - | 7,626,000 | 7,626,000 | |||
| Distributions | - | (6,347,000) | (6,347,000) | |||
| Stock repurchase (2,560 shares) | _ | (1,325,000) | _ | _ | (1,325,000) | |
| Balance at September 30, 2023 | 2,406,000 | 10,991,000 | 13,397,000 | |||
| Net income | - | 7,357,000 | 7,357,000 | |||
| Distributions | (6,294,000) | (6,294,000) | ||||
| Balance at September 30, 2024 | $ | 2,406,000 | $ | 12,054,000 | $ | 14,460,000 |
Source: Item 21 — Financial Statements (FDD page 109)
What This Means (2025 FDD)
According to Annex Brands' 2025 Franchise Disclosure Document, the balance at September 30, 2022, was $13,443,000. This figure represents the total balance, which is derived from a combination of $3,731,000 and $9,712,000 listed in the provided table.
This balance reflects Annex Brands' financial position at the end of its fiscal year in 2022. It's important to note that this balance is influenced by several factors, including net income, distributions, and stock options exercised. Specifically, the net income for that period was $7,476,000, distributions amounted to $(7,085,000), and stock options exercised totaled $93,000, all contributing to the final balance.
For a prospective franchisee, understanding these figures provides insight into the financial health and stability of Annex Brands. Reviewing these historical balances, along with the factors that influence them, can help potential franchisees assess the franchisor's financial management and overall performance. It's also crucial to compare these figures with those of previous years to identify any trends or significant changes in the company's financial standing.