What was the net value of C12 Group's property and equipment in 2022?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
dings, and certain internal control related matters that we identified during the audit.
ADKF, P.C. San Antonio, Texas March 25, 2024
ADKF,PC
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THE C12 GROUP, LLC Balance Sheets December 31, 2023 and 2022
| ASSETS | 2023 | 2022 |
|---|---|---|
| Current Assets: | ||
| Cash and cash equivalents | $ 1,601,398 | $ 1,015,305 |
| Restricted cash | 239,964 | 918,064 |
| Total cash | 1,841,362 | 1,933,369 |
| Accounts receivable | 592,343 | 535,847 |
| Notes receivable, current portion | 111,967 | B |
| Supply inventory | 209,905 | 169,408 |
| Prepaid expenses | 50,538 | 50,152 |
| Total current assets | 2,806,115 | 2,688,776 |
| Property and Equipment: | ||
| Office furniture, fixtures and equipment | 76,140 | 76,140 |
| Less accumulated depreciation | (42,603) | (31,726) |
| Net property and equipment | 33,537 | 44,414 |
| Other Assets: | ||
| Goodwill, net of accumulated amortization | 83,966 | 176,823 |
| Website and applications, net of accumulated amortization | 383,284 | 306,851 |
| Right-of-use operating lease assets | 163,479 | 303,466 |
| Notes receivable, less current portion | 13,356 | 10 1000 |
| Other assets | 17,653 | 13,984 |
| Total |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to C12 Group's 2025 Franchise Disclosure Document, the net value of their property and equipment in 2022 was $44,414. This figure is calculated by taking the original value of office furniture, fixtures, and equipment ($76,140) and subtracting the accumulated depreciation ($31,726). This net value represents the book value of C12 Group's physical assets after accounting for depreciation.
For a prospective franchisee, understanding the franchisor's asset values can provide insights into the financial health and stability of the company. While property and equipment may not be a primary indicator of success in a franchise system like C12 Group, which focuses on services, it still contributes to the overall financial picture. A higher net value might suggest more investment in infrastructure, while a lower value could indicate a leaner operational approach.
It's important to note that these figures are based on the company's consolidated financial statements, which include The C12 Group, LLC and C12 Atlanta, LLC. The values are also subject to accounting principles generally accepted in the United States of America (GAAP), as audited by Schriver, Carmona & Company, PLLC. Franchisees should consider these figures in the context of the entire financial statement and seek professional advice to fully understand their implications.