What was the total value of Benjamin Franklin Plumbing's accounts payable as of December 31, 2024?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
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- x Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
April 2, 2025
AB Assetco LLC and Subsidiaries Consolidated Balance Sheets (In thousands)
| As of December 31, | |||||
|---|---|---|---|---|---|
| 2024 | 2023 | ||||
| Assets | |||||
| Current assets | |||||
| Cash and cash equivalents | $ | 51 $ | 2,063 | ||
| Accounts receivable, net | 28,612 | 23,790 | |||
| Inventory, net | 3,078 | 2,742 | |||
| Prepaid expenses and other current assets |
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to the 2025 FDD, Benjamin Franklin Plumbing's accounts payable are listed under current liabilities. There are two balance sheets provided, and the accounts payable differ in each.
In one balance sheet, as of December 31, 2024, Benjamin Franklin Plumbing's accounts payable totaled $1,225, compared to $1,425 in 2023. This represents the debts the company owes to its suppliers and vendors for short-term obligations.
In the other balance sheet, as of December 31, 2024, Benjamin Franklin Plumbing's accounts payable totaled $6,803, compared to $9,980 in 2023. Understanding the discrepancy between these two balance sheets would be a crucial area of inquiry for a potential franchisee.