What was the total 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 |
| Property and equipment, net | 1,006,000 | 812,000 |
| Right of use assets - operating leases | 1,403,000 | - |
| Deposits and other noncurrent assets | 1,086,000 | 1,122,000 |
| Intangible assets, net | 223,000 | 278,000 |
| Total assets | $ 18,534,000 | $ 16,550,000 |
Source: Item 21 — Financial Statements (FDD page 109)
What This Means (2025 FDD)
According to Annex Brands' 2025 Franchise Disclosure Document, the company's total assets in 2023 amounted to $16,550,000. This figure represents the sum of all the company's possessions and rights that have a monetary value. These assets are categorized into current assets, property and equipment, right of use assets, deposits and other noncurrent assets, and intangible assets.
Understanding the asset composition can provide prospective franchisees with insights into the financial health and resource allocation of Annex Brands. Current assets, which include cash, accounts receivable, and prepaid expenses, indicate the company's short-term liquidity and ability to meet its immediate obligations. Property and equipment reflect investments in physical resources, while intangible assets may include items like goodwill or trademarks.
The total asset figure is a key indicator of the scale and financial stability of Annex Brands. Franchisees may want to compare this figure with those of other similar franchise systems to benchmark the company's financial position. Additionally, it's important to monitor the trend in total assets over time to assess the company's growth and investment strategies. A consistent increase in total assets may suggest a healthy expansion and reinvestment of profits, which could be a positive sign for potential franchisees.
It is important to note that while the total assets provide a snapshot of the company's financial position, it should be analyzed in conjunction with other financial metrics, such as liabilities, revenues, and profits, to gain a comprehensive understanding of Annex Brands' overall financial performance. Prospective franchisees should consult with a financial advisor to thoroughly evaluate the financial statements and assess the risks and opportunities associated with investing in an Annex Brands franchise.