What was the reported value of Brightstar Care's total assets on January 1, 2023?
Brightstar_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
| ------------------- | -- | -- |
|---|
Consolidated Balance Sheets
| December 31, 2023 | January 1, 2023 | |
|---|---|---|
| Assets | ||
| Current Assets Cash and cash equivalents Accounts receivable, net of allowances for credit losses of $213,282 and $309,337, respectively | $ 267,218 5,986,114 | $ 16,868 5,170,910 |
| Prepaid expenses | 1,782,560 | 888,291 |
| Inventory | - | 74,793 |
| Other current assets | 435,628 | 724,829 |
| Total Current Assets | 8,471,520 | 6,875,691 |
| Property and Equipment, Net | 8,551,823 | 7,605,214 |
| Other Long-Term Assets Operating lease - right-of-use asset Notes receivable - affiliated companies | 137,232 7,2 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 117)
What This Means (2025 FDD)
According to Brightstar Care's 2025 Franchise Disclosure Document, the company's total assets on January 1, 2023, were reported as $30,346,609. This figure represents the sum of Brightstar Care's current assets, property and equipment (net), and other long-term assets at that specific point in time.
Breaking down the asset composition, Brightstar Care's current assets totaled $6,875,691, which included cash and cash equivalents, accounts receivable (net of allowances for credit losses), prepaid expenses, inventory, and other current assets. Additionally, the company's property and equipment, net of depreciation, was valued at $7,605,214. Other long-term assets, including operating lease right-of-use assets and notes receivable from affiliated companies, amounted to $15,865,704.
For a prospective franchisee, this information provides a snapshot of Brightstar Care's financial health and asset base at the beginning of 2023. Reviewing these figures in conjunction with other financial statement data, such as liabilities and equity, can offer insights into the company's overall financial stability and its ability to meet its obligations. It's important to note that these figures are based on specific accounting methods and policies, as detailed in the notes to the consolidated financial statements within the FDD.