What was the reported amount of 'Lease liability, current' for Aunt Millies Bakeries in 2023?
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 'Lease liability, current' was reported as $4,481,275 in 2023. This figure represents the portion of Aunt Millies Bakeries's total lease obligations that are due within one year.
For a prospective franchisee, understanding the lease liabilities of the franchisor can provide insight into the financial health and stability of the company. Current lease liabilities are short-term obligations, and a significant amount could indicate potential financial strain if the company struggles to meet these obligations.
It's important to note that this figure is just one component of Aunt Millies Bakeries's overall financial picture. A franchisee should consider this number in conjunction with other financial data, such as total liabilities, revenues, and expenses, to gain a comprehensive understanding of the company's financial standing. Reviewing the complete financial statements and consulting with a financial advisor is recommended to assess the implications of these liabilities.