What were the total assets reported for Best Brains as of December 31, 2022?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
| 1 Cash and cash equivalents | As at December 31, 2023 | As at December 31, 2022 |
|---|---|---|
| Balances with Banks Bank of America Chase Bank Itasca Bank & Trust PayPal Bank | 235,640.80 16,982.18 612.17 8,814.52 | 165,528.73 (7,861.37) (3,392.26) |
| Total | 262,049.67 | 154,275.10 |
| 2 Trade Receivables | As at | As at December 31, 2022 |
| Outstanding for a period not exceeding 3 month | 1,631,849.78 | 200,982.30 |
| Outstanding for a period exceeding 3 months | 1,348,993.49 | |
| Total | 2,038,407.38 | 1,549,975.79 |
| 3 Other Current Assets | As at December 31, 2023 | As at December 31, 2022 |
| Employee Advance Loans to Shareholders State Tax Receivable Others Suta Receivable Undeposited Funds Service contract | 18,891.00 | 19,091.00 |
| 199,678.84 | 193,678.84 | |
| 4,452.00 | 4,452.00 | |
| 4,208.67 | 70.19 | |
| 66.66 | - | |
| 23,929.61 | 3,784.81 | |
| 4,500.00 | 4,500.00 | |
| Total | 255,726.78 | 225,576.84 |
| 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, the balance sheet includes the assets as of December 31, 2022. The assets include cash and cash equivalents, trade receivables, other current assets, and other assets.
As of December 31, 2022, Best Brains reported $154,275.10 in cash and cash equivalents. Trade receivables totaled $1,549,975.79. Other current assets amounted to $225,576.84, and other assets were valued at $958,557.46.
To calculate the total assets, these figures would need to be summed. However, the document does not provide the total asset figure. A prospective franchisee should ask Best Brains for the total asset figure as of December 31, 2022, to get a clear picture of the company's financial standing at that time.