What was the total value of Best Brains' other current assets 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 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the total value of other current assets as of December 31, 2022, was $225,576.84. This figure is part of the overall current assets, which totaled $2,219,667.73 on that date.
Other current assets typically include items that are not easily classified as cash, accounts receivable, or inventory but are still expected to be converted into cash within one year. For Best Brains, these assets consist of employee advances, loans to shareholders, state tax receivables, SUTA (State Unemployment Tax Act) receivables, undeposited funds, and service contracts.
For a prospective Best Brains franchisee, understanding the composition and value of these other current assets can provide insights into the company's financial health and operational efficiency. It's important to note that these assets are relatively small compared to other categories like trade receivables and inventory, but they still contribute to the overall financial picture. Franchisees may want to inquire about the nature of these assets and how they are managed to ensure sound financial practices.
It is also worth noting that the corresponding value for other current assets as of December 31, 2023, was $255,726.78, indicating a slight increase from the previous year. This kind of year-over-year comparison can be useful in assessing trends and potential areas of growth or concern.