What was the total value of Bumble Roofing's 'Prepaid expenses and other' in 2023 (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 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, the value of 'Prepaid expenses and other' was $2,211,505 in 2023 (as restated). This figure is part of the company's current assets. Current assets are assets expected to be converted to cash or used up within one year.
'Prepaid expenses and other' typically include items like insurance premiums, rent, and advertising costs that have been paid in advance but not yet fully used or recognized as expenses. For a Bumble Roofing franchisee, this could include upfront payments for marketing materials, deposits on leased equipment, or other similar items.
Understanding the composition and changes in prepaid expenses can provide insights into Bumble Roofing's operational efficiency and financial management. A significant increase in this category could indicate strategic investments in future growth or potential inefficiencies in expense management. Prospective franchisees should inquire about the specific items included in 'Prepaid expenses and other' to better assess the company's financial health and operational strategies.