What was the total value of Bumble Roofing's accounts payable and accrued expenses in 2024?
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 | 2,211,505 | 1,436,976 |
| Total Current Assets | 19,459,852 | 17,420,611 | 9,655,997 |
| Property and Equipment, Net | 3,998,259 | 3,511,245 | 1,952,874 |
| Other Assets | |||
| Notes receivable, net of current portion | 623,693 | 293,452 | 199,591 |
| Intangibles, net | 237,978,533 | 246,073,099 | 153,303,800 |
| Right-of-use assets | 4,548,121 | 2,972,324 | - |
| Other assets | 37,688 | 28,923 | 28,923 |
| Due from affiliated companies | - | - | 958,379 |
| 243,188,035 | 249,367,798 | 154,490,693 | |
| $ 266,646,146 LIABILITIES AND MEMBER'S EQUITY | $ 270,299,654 | $ 166,099,564 | |
| Liabilities | |||
| Accounts payable and accrued expenses | $ 7,890,614 | $ 7,737,340 | $ 3,264,529 |
| Contract liability - deferred revenue on franchise sales | 936,343 | 2,189,795 | 1,619,650 |
| Contract liability - customer deposits | 1,016,629 | 1,518,782 | 780,338 |
| Operating lease liabilities, current portion | 965,045 | 664,894 | - |
| Total Current Liabilities | 10,808,631 | 12,110,811 | 5,664,517 |
| Long-Term Liabilities | |||
| Operating lease liabilities, net of current portion | 4,676,367 | 3,117,530 | - |
| Due to affiliated companies | 6,475,895 | 4,757,068 | - |
| Note payable | 525,000 | 525,000 | - |
| 11,677,262 | 8,399,598 | - | |
| Noncontrolling Interest (Deficit) | (296,513) | (119,883) | - |
| Member's Equity | 244,4 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, the total value of accounts payable and accrued expenses for the company in 2024 was $7,890,614. This figure represents the sum of various short-term liabilities, including amounts owed to suppliers, accrued payroll, bonuses, and other personnel-related expenses, earnout provisions, estimated costs for closed roofing jobs, and other miscellaneous accrued expenses.
For a prospective Bumble Roofing franchisee, understanding accounts payable and accrued expenses is crucial for assessing the company's short-term financial obligations. A high value in this category could indicate that the company relies heavily on short-term financing or has a significant amount of outstanding liabilities. It is important to note that the accounts payable and accrued expenses decreased from $7,737,340 in 2023 to $3,264,529 in 2022.
It is important to note that the FDD also provides a breakdown of the components contributing to the total accounts payable and accrued expenses. These components include accounts payable, accrued payroll, bonuses and other personnel related expenses, earnout provisions, roofing estimated closed job costs and other expenses. Reviewing these individual components can provide a more detailed understanding of Bumble Roofing's financial obligations.
Prospective franchisees should analyze these figures in conjunction with Bumble Roofing's revenue and cash flow statements to gain a comprehensive understanding of the company's financial health and its ability to meet its short-term obligations. Additionally, comparing these figures to industry benchmarks can help franchisees assess whether Bumble Roofing's accounts payable and accrued expenses are within a reasonable range.