What was the amount of the Loan payable to WinTrust for Aw as of December 31, 2023?
Aw Franchise · 2025 FDDAnswer from 2025 FDD Document
during the audit.
Muhammad Zubairy, CPA PC Westbury, NY June 6, 2024
BALANCE SHEETS RAYYAN PIZZA FRANCHISE LLC
| ASSETS | ||
|---|---|---|
| YEARS ENDED DECEMBER 31 | ||
| 2023 | 2022 | |
| Assets | ||
| Cash | $ 4,705 | $ 33,561 |
| Due from franchisee | 7,837 | 1,226 |
| Due from related parties | 51,502 | 51,502 |
| Total Assets | $ 64,044 | $ 86,289 |
| LIABILITIES AND MEMBERS' EQUITY (DEFICIT) | ||
| Current Liabilities | ||
| Accounts payable and accrued expenses | $ — | $ 4,834 |
| Loan payable SBA | 513 | 476 |
| Loan payable WinTrust | 10,073 | 10,073 |
| Contract Liability | 8,000 | 8,250 |
| Total Current Liabilities | 18,586 | 23,633 |
| Long Term Liabilities | ||
| Loan payable S |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 39)
What This Means (2025 FDD)
According to Aw's 2025 Franchise Disclosure Document, the loan payable to WinTrust as of December 31, 2023, was $10,073. This figure is listed under current liabilities in the balance sheets. This indicates the amount Aw owed to WinTrust at the end of that financial year.
For a prospective franchisee, understanding the franchisor's liabilities is crucial. It provides insight into the financial stability and debt obligations of Aw. Knowing the loan amount helps potential franchisees assess the financial health of the franchisor and evaluate any potential risks associated with investing in the franchise.
It's important to note that this is just one aspect of Aw's financial situation. A potential franchisee should review the entire financial statement, including assets, liabilities, and equity, to get a comprehensive understanding. Additionally, comparing these figures with previous years and industry benchmarks can provide a more informed perspective on the financial performance and stability of Aw.