What was the total current assets for Bumble Roofing in 2022 (as restated)?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
HOLDCO, LLC CONSOLIDATED BALANCE SHEETS SEPTEMBER 30, 2024, 2023, AND 2022
ASSETS
| 2024 | 2023 ("As Restated") | 2022 ("As Restated") | |
|---|---|---|---|
| Current Assets | |||
| Cash | $ 2,941,232 | $ 1,737,401 | $ 1,492,295 |
| Royalties and accounts receivable, net | 10,215,595 | 8,416,631 | 5,544,544 |
| Rebates receivable, net | 1,889,160 | 1,815,484 | - |
| Notes receivable | 97,904 | 24,492 | 231,429 |
| Inventory | 3,461,346 | 3,215,098 | 950,753 |
| Prepaid expenses and other | 854,615 | 2,211,50 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, the company's total current assets in 2022 (as restated) were $9,655,997. This figure represents the sum of Bumble Roofing's liquid assets and those expected to be converted into cash within one year. These assets include cash, royalties and accounts receivable, rebates receivable, notes receivable, inventory, and prepaid expenses.
Understanding the composition and restatement of these assets is crucial for potential franchisees. The restatement indicates adjustments made to previously reported figures, which could be due to changes in accounting policies, errors, or other factors. It is important to investigate the reasons behind any restatements to fully understand the financial history of Bumble Roofing.
For a prospective Bumble Roofing franchisee, this information provides a snapshot of the company's financial health and liquidity at that time. Reviewing the trend of current assets over several years (2022-2024 in this case) can offer insights into the company's ability to manage its short-term obligations and invest in future growth. A significant change in current assets could signal potential challenges or opportunities for the franchise system.
It is advisable for potential franchisees to discuss these figures with a financial advisor and to seek clarification from Bumble Roofing regarding the nature of the restatements and the factors driving changes in asset values. This due diligence will help in making an informed decision about investing in a Bumble Roofing franchise.