What was the amount of accumulated depreciation for C12 Group in 2024?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
indings, and certain internal control related matters that we identified during the audit.
ADKF, P.C.
San Antonio, Texas
ADKF,PC
March 21, 2025
THE C12 GROUP, LLC Balance Sheets December 31, 2024 and 2023
| ASSETS | 2024 | 2023 |
|---|---|---|
| Current Assets: | ||
| Cash and cash equivalents | $ 1,641,633 | $ 1,601,398 |
| Restricted cash | 1,387,034 | 239,964 |
| Total cash | 3,028,667 | 1,841,362 |
| Accounts receivable | 865,442 | 592,343 |
| Notes receivable, current portion | 8 | 111,967 |
| Supply inventory | 184,109 | 209,905 |
| Prepaid expenses | 691,068 | 50,538 |
| Total current assets | 4,769,286 | 2,806,115 |
| Property and Equipment: | ||
| Office furniture, fixtures and equipment | 76,140 | 76,140 |
| Less accumulated depreciation | (53,480) | (42,603) |
| Net property and equipment | 22,660 | 33,537 |
| Other Assets: | ||
| Goodwill, net of accumulated amortization | 71,971 | 83,966 |
| Website and applications, net of accumulated amortization | 364,493 | 383,284 |
| Right-of-use operating leas |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to C12 Group's 2025 Franchise Disclosure Document, the accumulated depreciation for office furniture, fixtures, and equipment as of December 31, 2024, was $53,480. This figure reflects the total depreciation recognized on these assets up to that point in time.
For a prospective C12 Group franchisee, understanding accumulated depreciation is crucial for assessing the net value of the company's assets. It provides insight into the wear and tear or obsolescence of the assets, which can impact future capital expenditure needs. Monitoring this figure over time helps in evaluating the efficiency of asset utilization and the potential need for reinvestment in newer equipment.
In addition to office furniture, fixtures, and equipment, C12 Group also reports accumulated amortization for goodwill and website/applications. Accumulated amortization for goodwill was $47,981 as of December 31, 2024, and for website and applications, it was $308,762 as of the same date. These figures, along with accumulated depreciation, provide a comprehensive view of the company's asset values and how they are being depreciated or amortized over time.