For Best Brains, what is the total of 'Other Liabilities' as of December 31, 2022?
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 | |
| Total Liabilities | 4,151,237.78 | 3,187,794.22 | |
| Shareholder's Equity | |||
| Common Stock | 1,000.00 | 1,000.00 | |
| Additional Paid in capital | 8 | 121,375.00 66,757.79 | 121,375.00 136,263.02 |
| Retained Earnings- Unappropriated | |||
| Total Equity | 189,132.79 | 258,638.02 | |
| Total Liabilities and Shareholder's Equity | 4,340,370.57 | 3,446,432.24 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the total 'Other Liabilities' as of December 31, 2022, was $80,489.91. This figure is part of the company's liabilities, reflecting obligations not categorized as credit card liabilities, loans, mortgages or other specific debt types. These liabilities include franchise fees advance of $18,000 and payroll liabilities of $0.00.
Understanding the composition of 'Other Liabilities' is crucial for prospective franchisees. It provides insight into Best Brains's short-term financial obligations beyond standard debts. Franchisees should pay close attention to these figures to assess the company's financial health and stability. A significant increase in 'Other Liabilities' from one year to the next could signal potential financial strain or changes in operational practices.
For potential franchisees, this information is essential for conducting due diligence. Reviewing the trend of these liabilities over several years can offer a clearer picture of Best Brains's financial management and its ability to meet its obligations. Consulting with a financial advisor to interpret these figures in the context of the overall financial statements is advisable.