What is the amount of office furniture, fixtures, and equipment reported 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 company reported $76,140 in office furniture, fixtures, and equipment for the year 2024. This figure represents the original cost of these assets before accounting for depreciation. After deducting accumulated depreciation of $53,480, the net property and equipment value is $22,660.
For a prospective franchisee, understanding these figures provides insight into the tangible assets C12 Group owns and how they are valued on the balance sheet. The consistent value of office furniture, fixtures, and equipment from 2023 to 2024 suggests that C12 Group did not make significant investments in these assets during that period. The accumulated depreciation reflects the wear and tear on these assets over time, which is a standard accounting practice.
It's important to note that these figures represent the assets owned by C12 Group itself and not the assets required by a franchisee to operate their own C12 Group franchise. A franchisee would typically need to invest in their own office equipment and furniture, the costs of which are detailed elsewhere in the FDD. Reviewing these figures in conjunction with the initial investment costs can provide a more complete picture of the overall financial requirements for starting a C12 Group franchise.