What is the difference in net property and equipment between 2023 and 2024 for C12 Group?
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 net property and equipment decreased from 2023 to 2024. In 2023, the net property and equipment totaled $33,537. By 2024, this figure had decreased to $22,660. This represents a decrease of $10,877 in net property and equipment for C12 Group from 2023 to 2024.
Net property and equipment is calculated by taking the original cost of office furniture, fixtures, and equipment, and then subtracting accumulated depreciation. For both 2023 and 2024, the original cost of office furniture, fixtures, and equipment was $76,140. The accumulated depreciation increased from $42,603 in 2023 to $53,480 in 2024. This increase in accumulated depreciation is the reason for the decrease in net property and equipment.
For a prospective franchisee, this information provides insight into the tangible assets C12 Group owns and how they depreciate over time. While the specific amount may not be directly relevant to a franchisee's operations, it contributes to understanding the overall financial health and asset management practices of the franchisor. It is typical for businesses to experience depreciation of assets, and tracking these figures is a standard accounting practice.