What was the total amount of trade receivables reported by Aunt Millies Bakeries in 2023?
Aunt_Millies_Bakeries Franchise · 2025 FDDAnswer from 2025 FDD Document
es, Inc.'s ability to continue as a going concern for a reasonable period of time.
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Crown LIP
Fort Wayne, Indiana January 31, 2025
PERFECTION BAKERIES, INC. CONSOLIDATED BALANCE SHEETS September 30, 2024 and 2023
| ASSETS | 2024 | 2023 |
|---|---|---|
| Current assets | ||
| Cash an |
Source: Item 23 — RECEIPT (FDD pages 44–196)
What This Means (2025 FDD)
According to Aunt Millies Bakeries' 2025 Franchise Disclosure Document, the total trade receivables for the company in 2023 were $29,360,841. This figure represents the amount of money owed to Aunt Millies Bakeries by its customers for goods or services that have already been delivered or used but not yet paid for. This is a key indicator of the company's financial health and its ability to manage its accounts receivable effectively. The FDD also lists the trade receivables for 2024 as $26,434,283.
It is important to note that this amount is before considering the allowance for credit losses or customer deductions. After deducting the allowance for credit losses/customer deductions, which amounted to $3,154,008 in 2023, the net receivables were $27,136,833. This allowance accounts for potential uncollectible amounts from customers. Monitoring both the gross and net receivables provides a more comprehensive view of the company's financial position.
Prospective franchisees should pay close attention to these figures as they reflect the financial stability and operational efficiency of Aunt Millies Bakeries. Understanding the trend in receivables and the allowance for credit losses can provide insights into the company's credit policies and its ability to collect payments from its customers. This information is crucial for assessing the overall financial risk and potential profitability of investing in an Aunt Millies Bakeries franchise.