What was the current portion of notes receivable 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 | 9 |
Source: Item 23 — RECEIPTS (FDD pages 51–222)
What This Means (2025 FDD)
According to Apricot Lane's 2025 Franchise Disclosure Document, the current portion of notes receivable in 2023 was not specified. The balance sheet does show "Notes Receivable, less current portion" as $985,265 in 2023.
It is important to note that the document does not explicitly state what the "current portion" of the notes receivable was for that year. Notes receivable are assets, representing money owed to Apricot Lane, with the 'current portion' being the amount due within one year.
For a prospective franchisee, this lack of detail could be significant. Understanding the composition and collectibility of Apricot Lane's assets, including notes receivable, is crucial for assessing the company's financial health. It would be prudent to ask Apricot Lane for clarification on the current portion of notes receivable and the terms and collectibility of those notes.