What were the total liabilities of Bft as of December 31, 2024?
Bft Franchise · 2025 FDDAnswer from 2025 FDD Document
statements.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, no such opinion is expressed.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
- Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
March 14, 2025
XPOF ASSETCO, LLC CONSOLIDATED BALANCE SHEETS
(amounts in thousands)
| December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Current Assets: | ||
| Cash and cash equivalents | $ 8,593 | $ 8,000 |
| Ac |
Source: Item 23 — RECEIPTS (FDD pages 79–265)
What This Means (2025 FDD)
According to Bft's 2025 Franchise Disclosure Document, the company's total liabilities as of December 31, 2024, were $111,249. This figure represents the sum of current liabilities, which totaled $15,184, and deferred revenue, net of the current portion, which amounted to $96,065. In comparison, Bft's total liabilities as of December 31, 2023, were $121,960.
For a prospective franchisee, understanding the franchisor's liabilities is crucial as it provides insight into the financial stability and solvency of the company. A high level of liabilities could indicate potential financial strain, which might affect Bft's ability to support its franchisees. Conversely, a lower level of liabilities, as seen in the decrease from 2023 to 2024, could be a positive sign.
It's important to note that these liabilities include both current liabilities (obligations due within a year) and deferred revenue. Deferred revenue typically represents payments received for services or products that have not yet been delivered or rendered. The deferred revenue, net of current portion, was $96,065 as of December 31, 2024. Reviewing the notes to the financial statements, referenced as Note 9, regarding commitments and contingencies, would provide further context to Bft's liabilities.
Franchisees should consider these figures in conjunction with Bft's assets and equity to assess the overall financial health of the franchise. Consulting with a financial advisor to interpret these financial statements is advisable for any potential franchisee.