What was the net property and equipment for C12 Group in 2023?
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 for 2023 was $33,537. This figure is derived from the original cost of office furniture, fixtures, and equipment, which was $76,140, less accumulated depreciation of $42,603.
For a prospective franchisee, understanding the net property and equipment can provide insights into the tangible assets C12 Group owns and utilizes in its operations. This can be an indicator of the company's investment in its infrastructure. A higher net property and equipment value might suggest a more established infrastructure, while a lower value could indicate a leaner operation or a reliance on leased assets.
It's also worth noting the change in net property and equipment from year to year. In 2022, the net property and equipment was $44,414, indicating a decrease to $33,537 in 2023. This decrease could be due to increased depreciation, asset disposal, or other factors. Reviewing these figures over several years can reveal trends in C12 Group's capital investments and asset management strategies.