What was the reported amount for the current lease liability for Aunt Millies Bakeries in 2024?
Aunt_Millies_Bakeries Franchise · 2025 FDDAnswer from 2025 FDD Document
progress | 6,691,112 | 3,102,063 | | Land | 2,446,173 | 2,471,173 | | | 39,539,220 | 38,210,298 | | Notes receivable – distributor routes, less current maturities, net | 4,862,381 | 3,256,368 | | Right of use assets | 20,264,988 | 20,972,254 | | Other assets | 769,267 | 854,588 | | Noncurrent assets held for sale | 25,000 | • 447.070.000 | | Total assets | $ 126,654,714 | $ 117,073,938 |
PERFECTION BAKERIES, INC. CONSOLIDATED BALANCE SHEETS September 30, 2024 and 2023
| LIABILITIES | 2024 | 2023 | ||
|---|---|---|---|---|
| Current liabilities |
Source: Item 23 — RECEIPT (FDD pages 44–196)
What This Means (2025 FDD)
According to Aunt Millies Bakeries's 2025 Franchise Disclosure Document, the current lease liability for 2024 was reported as $4,691,689. This figure is part of the company's liabilities, which also include items such as current maturities of long-term obligations, subordinated revolving credit facility, current portion of pension plan withdrawal liability, accounts payable, accrued expenses, deferred revenue, and total current liabilities.
This liability represents the portion of Aunt Millies Bakeries's lease obligations due within the next year. For a prospective franchisee, understanding the lease liabilities of the franchisor can provide insight into the financial health and stability of the company. It's important to note that these liabilities are subject to change and can impact the overall financial performance of the company.
The FDD also lists the lease liability for 2023 as $4,481,275, showing an increase in this liability from 2023 to 2024. Reviewing these figures over several years can help potential franchisees identify trends and assess the company's financial obligations related to its leases. This information is crucial for making an informed decision about investing in an Aunt Millies Bakeries franchise.
It is important for potential franchisees to consult with a financial advisor to fully understand the implications of these liabilities and how they might affect the franchisor's ability to support its franchisees. Additionally, franchisees should inquire about the terms and conditions of these leases to assess any potential risks or opportunities associated with them.