What was the current portion of notes payable for Camp Margaritaville as of December 31, 2023?
Camp_Margaritaville Franchise · 2025 FDDAnswer from 2025 FDD Document
res that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, no such opinion is expressed.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
- Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internalcontrol-related matters that we identified during the audit.
Other Information
Management is responsible for the other information. The Other Financial Information on pages 26 and 27 is presented for purposes of additional analysis but does not include the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information, and we do not express an opinion or any form of assurance thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.
April 29, 2025
Consolidated Balance Sheets
| December 31 | ||||
|---|---|---|---|---|
| 2023 2024 | ||||
| Assets | ||||
| Current assets: | ||||
| Cash | $ | 27,181,476 | $ | 17,701,723 |
Source: Item 23 — RECEIPTS (FDD pages 72–406)
What This Means (2025 FDD)
According to Camp Margaritaville's 2025 Franchise Disclosure Document, the current portion of notes payable as of December 31, 2023, was $500,000. This liability represents the amount of the company's outstanding notes that are due within one year from that date.
For a prospective Camp Margaritaville franchisee, understanding the current portion of notes payable is crucial because it reflects the brand's short-term debt obligations. This figure, in conjunction with other current liabilities, provides insight into the company's liquidity and ability to meet its immediate financial obligations. A high current portion of notes payable relative to current assets could indicate potential financial strain, whereas a lower amount might suggest better short-term financial health.
It's important to note that this figure is just one component of Camp Margaritaville's overall financial picture. Franchisees should review the complete financial statements, including the balance sheets and related notes, to gain a comprehensive understanding of the company's financial position and its ability to support its franchisees. Additionally, prospective franchisees should compare these figures with those of other similar franchise systems to assess the relative financial stability of Camp Margaritaville.