What was the cash and cash equivalents at the beginning of the year for Aunt Millies Bakeries in 2023?
Aunt_Millies_Bakeries Franchise · 2025 FDDAnswer from 2025 FDD Document
----------------------------------------------|-------------------------------------|---------------------------------------| | Net income (loss) | $ 14,199,697 | $ (5,256,940) | | Other comprehensive income (loss) Interest rate swap Change in benefit plans, net | | | | | (281,013) | 307,182 | | | 556,711 | (458,749) | | | 275,698 | (151,567) | | Comprehensive income (loss) | $ 14,475,395 | $ (5,408,507) |
PERFECTION BAKERIES, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS Years ended September 30, 2023 and 2022
| 2023 | 2022 | |||
|---|---|---|---|---|
| Cash flows from operations | ||||
| Net income (loss) | $ | 14,199,697 | $ | (5,256,940) |
| Adjustments to reconcile net income (loss) to net cash provided by | , , | |||
| (used for) operations | ||||
| Depreciation and amortization | 8,371,434 | 8,235,893 | ||
| Lease expense | 6,704,501 | - | ||
| Gain from property disposal | (339,370) | (371,313) | ||
| Change in assets and liabilities: | ||||
| Receivables, net | (3,671,470) | (2,874,426) | ||
| Inventories, net | (972,290) | (2,928,397) | ||
| Prepaid expenses | (1,064,138) | (353,554) | ||
| Other assets | (115,533) | 419,033 | ||
| Accounts payable | 1,925,254 | 3,207,295 | ||
| Pension plan withdrawal liability | (507, 177) | (474,913) | ||
| Lease payable | (7,099,381) | - | ||
| Accrued expenses and other liabilities | (508,861) | _ | (4,864,365) | |
| Net cash provided by (used for) operations | 16,922,666 | (5,261,687) | ||
| Cash flows from investing activities | ||||
| Capital expenditures | (6,639,634) | (6,267,927) | ||
| Payments received from notes receivable | 711,589 | 816,239 | ||
| Proceeds received from sale of property | 310,028 | (44,670) | ||
| Net cash used for investing activities | (5,618,017) | (5,496,358) | ||
| Cash flows from financing activities | ||||
| Borrowings on line of credit | 74,936,095 | 68,684,532 | ||
| Payments on line of credit | (80,640,650) | (62,459,825) | ||
| Borrowings on subordinated revolving credit facility | 288,402 | - | ||
Source: Item 23 — RECEIPT (FDD pages 44–196)
What This Means (2025 FDD)
According to Aunt Millies Bakeries' 2025 Franchise Disclosure Document, the cash and cash equivalents at the beginning of the year 2023 was $737,775. This figure represents the amount of readily available funds the company had at the start of its fiscal year, which can be used for immediate expenses, investments, or other business activities.
For a prospective franchisee, understanding the franchisor's cash position is crucial. A healthy cash balance suggests financial stability and the ability to support franchisees. It indicates Aunt Millies Bakeries' capacity to invest in improvements, marketing, and overall system growth.
However, it is essential to consider this figure in conjunction with other financial metrics. Reviewing the complete financial statements, including revenues, expenses, and liabilities, provides a more comprehensive view of Aunt Millies Bakeries' financial health. Additionally, comparing these figures with previous years and industry benchmarks can offer insights into the company's performance and potential risks.