What is the total amount of Best Brains' long term liabilities as of December 31, 2023?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
| Particulars | Schedule No. | As at December 31, 2023 | As at December 31, 2022 |
|---|---|---|---|
| ASSETS | |||
| Current Assets Cash & cash equivalents | 1 | 262,049.67 | 154,275.10 |
| Inventory | _ | 417,347.00 | 289,840.00 |
| Trade Receivables | 2 | 2,038,407.38 | 1,549,975.79 |
| Other Current Assets Total Currrent Assets | 3 | 255,726.78 2,973,530.83 | 225,576.84 2,219,667.73 |
| Property and Equipment ,net of accumulated depreciation | 4 | 290,790.28 | 268,207.05 |
| Other Assets | 5 | 1,076,049.46 | 958,557.46 |
| Total Assets | 4,340,370.57 | 3,446,432.24 | |
| Current liabilities Accounts Payable Other Current Liabilities Deferred Franchise revenue-current Total Current Liabilities | 6 | 3,444,214.53 276,415.25 45,025.00 3,765,654.78 | 2,654,584.46 80,489.91 65,939.00 2,801,013.37 |
| Long term liabilities | 7 | ||
| Loans & Advances | • | 144,439.99 | 140,568.45 |
| Mortgages ,notes , bonds payable in 1 year or m | iore | 150,000.00 | 150,000.00 |
| Deferred Franchise revenue-long term Total Long Term Liabilities | 91,143.01 385,583.00 | 96,212.40 386,780.85 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the company's total long-term liabilities as of December 31, 2023, amounted to $385,583. This figure is comprised of several components, providing a more detailed view of Best Brains' financial obligations extending beyond the next year.
Specifically, the long-term liabilities include loans and advances totaling $144,439.99, mortgages, notes, and bonds payable in one year or more amounting to $150,000, and deferred franchise revenue-long term of $91,143.01. These figures offer insight into the nature and extent of Best Brains' long-term financial commitments.
A prospective Best Brains franchisee should consider these liabilities as part of their due diligence. Understanding the franchisor's debt and long-term obligations can provide a clearer picture of the company's financial health and stability. This information, combined with other financial metrics, can help potential franchisees assess the risks and opportunities associated with investing in a Best Brains franchise.