What was the total amount of current liabilities reported 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 company's total current liabilities in 2023 were $56,847,683. This figure represents the sum of several short-term financial obligations, including current maturities of long-term obligations ($1,677,001), a subordinated revolving credit facility ($2,740,852), the current portion of pension plan withdrawal liability ($541,636), accounts payable ($24,501,524), accrued expenses ($22,040,792), lease liability, current ($4,481,275), and deferred revenue ($864,603).
Understanding the composition of these current liabilities is crucial for prospective franchisees. Accounts payable, for instance, reflects the company's short-term debts to suppliers, while accrued expenses represent obligations that have been incurred but not yet paid. The current maturities of long-term obligations indicate the portion of long-term debt due within the next year. Deferred revenue signifies payments received for goods or services that have not yet been delivered or rendered.
For a potential Aunt Millies Bakeries franchisee, this information provides insight into the company's short-term financial health and its ability to meet its immediate obligations. A high level of current liabilities relative to current assets could indicate potential liquidity issues. Therefore, reviewing these figures in conjunction with the company's balance sheets for previous years and comparing them to industry benchmarks is advisable. Furthermore, it would be prudent to discuss these liabilities with the franchisor to gain a deeper understanding of their nature and potential impact on the franchisee's operations.