What was the total gross block of fixed assets for Best Brains as of January 1, 2023?
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 |
Schedules forming part of Financial Statements as on Dec 31, 2023
4. Fixed Assets
d Total- Fixed Assets
560,278.78
(in $) Gross Block Accumulated Depreciation Net Block Particulars As at As at As at As at As at As at
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the total gross block of fixed assets as of January 1, 2023, was $525,278.78. This figure represents the original cost of all fixed assets that Best Brains owned at that time, before accounting for any accumulated depreciation. Fixed assets are tangible items like vehicles, furniture, and equipment that the company uses in its operations and expects to benefit from for more than one year.
Understanding the gross block of fixed assets can be useful for a prospective franchisee because it provides insight into the scale of investments Best Brains has made in its infrastructure. It also serves as a starting point for calculating depreciation, which is an important factor in determining the company's net income and overall financial health. Keep in mind that this number reflects the assets at the corporate level and may not be indicative of the investment required to open an individual Best Brains franchise location.
It's important to note that the corresponding accumulated depreciation as of January 1, 2023, was $257,071.73. This represents the total amount of depreciation that has been recognized on these assets up to that date. The net block of fixed assets, which is the gross block less accumulated depreciation, was $268,207.05. This net figure provides a more accurate picture of the current book value of Best Brains' fixed assets.
Prospective franchisees should consider these figures in conjunction with other financial data in the FDD to gain a comprehensive understanding of Best Brains' financial position. While the gross block provides the initial investment value, the net block reflects the assets' value after accounting for wear and tear over time. Reviewing these numbers over several years can also reveal trends in Best Brains' capital investments and depreciation policies.