What was the total amount of Boulder Designs' accrued expenses in 2024?
Boulder_Designs Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | |
|---|---|---|
| Liabilities and Member's Deficit | ||
| Current liabilities: | ||
| Notes payable | $ 248,000 | 255,000 |
| Current installments of long-term debt | 13,971 | 20,793 |
| Accounts payable | 191,886 | 291,188 |
| Accrued expenses | 293,743 | 188,330 |
| Deferred revenue, current | 909,641 | 843,033 |
| Total current liabilities | 1,657,241 | 1,598,344 |
Source: Item 23 — RECEIPT (FDD pages 50–217)
What This Means (2025 FDD)
According to Boulder Designs' 2025 Franchise Disclosure Document, the company's accrued expenses totaled $293,743 in 2024. This figure is part of the company's current liabilities, which totaled $1,657,241 for the same year.
Accrued expenses represent liabilities that Boulder Designs has incurred but not yet paid. These can include items like unpaid wages, rent, utilities, or taxes. For a prospective franchisee, understanding the franchisor's accrued expenses can provide insight into its short-term financial obligations and overall financial health. A significant increase in accrued expenses from one year to the next could indicate potential cash flow issues or changes in accounting practices.
It's also worth noting that in 2023, Boulder Designs' accrued expenses were $188,330. The increase to $293,743 in 2024 represents a notable change that a potential franchisee may want to investigate further to understand the reasons behind the increase and its potential impact on the franchisor's financial stability. Reviewing these figures in the context of the company's overall financial statements, including assets, liabilities, and revenues, will provide a more comprehensive understanding of its financial position.