What was the amount of notes receivable, less current portion, for Apricot Lane in 2023?
Apricot_Lane Franchise · 2025 FDDAnswer from 2025 FDD Document
LLP Grass Valley, CA February 10, 2025
Sointo Group
2
| ASSETS | |||||
|---|---|---|---|---|---|
| 2024 | 2023 | ||||
| Current Assets: | 4. | 107 (10 | |||
| Cash and cash equivalents | S | 85,129 | $ | 186,678 | |
| Marketable securities | 113,379 | 161,923 | |||
| Franchise fees receivable | 222,000 | 207,000 | |||
| Franchise royalties and advertising receivable | |||||
| less allowance for doubtful accounts | 72,069 | 95,760 | |||
| Reimbursable franchise costs and other receivab | les | ||||
| less allowance for doubtful accounts | 18,076 | 24,017 | |||
| Prepaid expenses | 20,201 | 22,346 | |||
| Current portion of notes receivable | _ | - | |||
| Total Current Assets | 530,854 | 697,724 | |||
| Furniture, equipment, and vehicles net | 156,003 | 200,976 | |||
| Other Non-current Assets: | |||||
| Security deposit | 2,500 | 2,603 | |||
| Right-of-use lease asset | - | 8,724 | |||
| Notes Receivable, less current portion | 985,265 | 985,265 | |||
| Total Other Non-current Assets | _ | 987,765 |
Source: Item 23 — RECEIPTS (FDD pages 51–222)
What This Means (2025 FDD)
According to Apricot Lane's 2025 Franchise Disclosure Document, the notes receivable, less current portion, was $985,265 in 2023. This figure represents the value of notes receivable that are not expected to be collected within the next year.
Notes receivable are amounts owed to Apricot Lane by others, typically franchisees or vendors. The "current portion" represents the amount of these notes that are expected to be collected within one year, while the remaining balance is classified as "less current portion."
For a prospective franchisee, this information provides insight into Apricot Lane's financial dealings and how they manage their receivables. A high value of notes receivable, less current portion, could indicate that Apricot Lane has extended significant credit to its franchisees or other parties, with repayment terms extending beyond one year. It is important to note that the notes receivable are classified as long-term due to the unlikelihood of immediate collection of the entire balance.