What was the total value of Best Brains' other current assets as of December 31, 2023?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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 |
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, 2023, was $255,726.78. This figure is part of the broader financial overview presented in the balance sheets within the FDD. Understanding the composition and changes in current assets is crucial for prospective franchisees to assess the financial health and short-term liquidity of Best Brains.
Other current assets consist of several components, including employee advances, loans to shareholders, state tax receivables, and other miscellaneous assets. Specifically, the breakdown includes employee advances of $18,891.00, loans to shareholders amounting to $199,678.84, state tax receivable of $4,452.00, SUTA receivable of $4,208.67, undeposited funds of $66.66, and service contracts totaling $23,929.61 and $4,500.00. These assets are considered current because they are expected to be converted into cash or used up within one year.
For a potential Best Brains franchisee, this information is relevant for several reasons. First, it provides insight into how Best Brains manages its short-term assets and obligations. Second, it shows the types of expenses and financial relationships Best Brains has, such as loans to shareholders, which could indicate how the company is managed internally. Finally, it allows potential franchisees to compare these figures with previous years to identify trends and assess the financial stability and growth of the franchise system. Reviewing these figures in conjunction with other parts of the financial statements can offer a more complete picture of Best Brains' financial standing.