What was the total amount of current liabilities for Aunt Millies Bakeries as of September 30, 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 total current liabilities for the company as of September 30, 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 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 subordinated revolving credit facility indicates the company's reliance on short-term borrowing, and the pension plan withdrawal liability suggests potential future obligations related to pension plans. Deferred revenue typically arises from 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 liquidity issues, which might affect the company's operational stability and its capacity to support franchisees. Therefore, a thorough review of these figures, in conjunction with other financial metrics, is essential for making an informed investment decision.