What is the net property and equipment value 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 net property and equipment for the company in 2024 was $22,660. This figure is calculated by taking the original value of office furniture, fixtures, and equipment, which was $76,140, and subtracting the accumulated depreciation of $53,480.
For a prospective franchisee, understanding the net property and equipment value provides insight into the tangible assets C12 Group possesses. It reflects the depreciated value of the company's physical assets, which can be an indicator of the investments made in infrastructure and resources. A higher net value might suggest more significant investments in equipment, while a lower value could indicate older or less substantial assets.
It's also useful to compare this figure with previous years to identify trends in C12 Group's asset management and capital expenditures. For instance, in 2023, the net property and equipment was $33,537, indicating a decrease in net value from 2023 to 2024. This could be due to increased depreciation, asset disposal, or a lack of new equipment purchases. Franchisees may want to inquire about the company's plans for future investments in property and equipment to ensure ongoing operational efficiency and competitiveness.
Reviewing these figures in conjunction with other financial statement items, such as cash flow statements and capital expenditure budgets, will give potential franchisees a more comprehensive understanding of C12 Group's financial health and investment strategies.