What was the amount of current maturities subtracted from long-term liabilities for Bens Soft Pretzels in 2023?
Bens_Soft_Pretzels Franchise · 2025 FDDAnswer from 2025 FDD Document
$ | 1,629,472 | $ 1,301,147 | |
BEN'S SOFT PRETZELS FRANCHISING CORPORATION BALANCE SHEETS
December 31, 2024, 2023, and 2022
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| LIABILITIES AND | |||
| STOCKHOLDERS' EQUITY | |||
| Current liabilities | |||
| Current maturities of deferred revenue | $ 112,547 | $ 102,473 | $ 115,774 |
| Current maturities of deferred rebates | 3,000 | - | - |
| Current maturities of long-term debt | 13,001 | 22,051 | 12,584 |
| Accounts payable | 15,411 | 27,973 | 36,164 |
| Accounts payable - related parties | 16,558 | 8,915 | 9,959 |
| Gift cards payable | 82,465 | 81,173 | 75,975 |
| Accrued salaries and wages | 15,575 | 10,106 | 5,439 |
| Accrued property tax | 8,100 | 7,500 | - |
| Accrued distributions | 3,059 | 3,059 | 3,144 |
| Other current liabilities | 1,608 | - | _ |
| Total current liabilities | 271,324 | 263,250 | 259,039 |
| Long-term liabilities | |||
| Deferred revenue - franchise fee | 332,002 | 300,060 | 346,954 |
| Deferred revenue - related party | - | 234 | 698 |
| Deferred revenue - rebate incentive | 12,000 | - | - |
| Long-term debt | 230,382 | 252,150 | 25,701 |
| 6 | 574,384 | 552,444 | 373,353 |
| Less current maturities of deferred | , | , | , |
| revenue, rebates, and long-term debt | (128,548) | (124,524) | (128,358 |
| Total long-term liabilities | 445,836 | 427,920 | 244,995 |
| Total liabilities | 717,160 | 691,170 | 504,034 |
| Stockholders' equity | |||
| Common stock, no par value, 1,000,000 | |||
| shares authorized, 10,000 shares | |||
| issued and outstanding | 10,000 | 10,000 | 10,000 |
| Retained earnings | 1,054,177 | 928,302 | 787,113 |
| Total stockholders' equity | 1, |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 46)
What This Means (2025 FDD)
According to the 2025 FDD, Bens Soft Pretzels' balance sheets include a line item for 'Less current maturities of deferred revenue, rebates, and long-term debt,' which is subtracted from the total long-term liabilities. In 2023, this subtraction amounted to $124,524. This figure represents the portion of long-term liabilities that are due within one year.
For a prospective franchisee, understanding this figure is crucial for assessing the company's financial health. It indicates how much of Bens Soft Pretzels' long-term debt and deferred revenue obligations are coming due in the near term. A higher number could suggest that the company has significant short-term obligations to meet, which might impact its ability to invest in growth or support its franchisees.
It is important to note that this subtraction includes current maturities of deferred revenue, rebates, and long-term debt. Reviewing the trend of this figure over the three years presented (2022-2024) can provide insights into how Bens Soft Pretzels manages its liabilities and obligations. A franchisee should also consider this in relation to the company's cash flow and overall financial stability.