How much did Best Brains have in Loan Issued as of December 31, 2022?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
| 5 Other Assets | As at December 31, 2023 | As at December 31, 2022 |
|---|---|---|
| Deferred Tax Asset | 800.00 | 800.00 |
| Advance | 122,000.00 | 122,000.00 |
| Loan Issued | 942,746.00 | 825,254.00 |
| Rent Deposit | 10,503.46 | 10,503.46 |
| Total | 1,076,049.46 | 958,557.46 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, as of December 31, 2022, the company had $825,254.00 in Loan Issued. This figure is part of the company's assets, specifically categorized under 'Other Assets' in their financial statements.
This loan amount represents funds that Best Brains has lent out, typically to shareholders or related parties. It's important to note that these loans are reported at cost and do not carry any interest, as stated in the notes to the financial statements. For a prospective franchisee, this indicates how Best Brains manages its finances and its relationships with related parties through financial transactions.
The presence of a significant amount in loans issued suggests that Best Brains engages in lending activities as part of its financial strategy. While these loans are interest-free, they still represent assets that Best Brains expects to recover. Understanding the terms and conditions of these loans, as well as the parties to whom they are issued, would provide further insight into the company's financial practices.
Prospective franchisees should consider this information in the context of Best Brains' overall financial health and stability. It's advisable to inquire about the nature of these loans, the repayment schedules, and the potential risks associated with them to gain a comprehensive understanding of the company's financial position.