What was the total amount of Card My Yard's assets in 2023?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
cial 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 auditfindings, and certain internal controlrelatedmatters that we identified during the audit.
April 23, 2025
| 2024 | 2023 | |||
|---|---|---|---|---|
| Assets | ||||
| Current assets: | ||||
| Cash | $ | 3,690,691 | $ 1,455,349 | |
| Restricted cash | - | 840,143 | ||
| Accounts receivable, net of an allowance for credit losses | ||||
| of $74,296 and $105,953, respectively | 6,102,611 | 3,565,178 | ||
| Other | 820,000 | - | ||
| current | ||||
| receivable | ||||
| Current | 1,797,429 | 1,382,859 | ||
| portion | ||||
| of | ||||
| contract | ||||
| assets | ||||
| Prepaid and other current assets | 1,803,912 | 1,537,556 | ||
| Total current assets | 14,214,643 | 8,781,085 | ||
| Goodwill, net | 52,556,496 | 66,184,756 | ||
| Intangible assets, net | 45,678,810 | 50,358,496 | ||
| Contract assets, net of current portion | 13,317,603 | 10,981,453 | ||
| Operating lease right-of-use assets | 1,603,081 | 1,272,436 | ||
| Other assets | 2,206,748 | 828,551 | ||
| Total assets | $ 129,577,381 | $ 138,406,777 | ||
| Liabilities and Members' Equity | ||||
| Current liabilities: | ||||
| Accounts payable | $ 1,515,669 | $ 713,523 | ||
| Accrued expenses | 2,383,578 | 2,656,030 | ||
| Current | 3,227,336 | 2,517,756 | ||
| portion | ||||
| of | ||||
| contract | ||||
| liabilities | ||||
| Current portion of operating lease liabilities | 360,394 | 256,163 |
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, the total assets for FS PEP Holdco, LLC and subsidiaries, which includes Card My Yard Franchising, LLC, were audited. The consolidated balance sheets show the total assets as of December 31, 2023.
The total assets for Card My Yard in 2023 amounted to $138,406,777. This figure represents the sum of all current assets, goodwill, intangible assets, contract assets (net of current portion), operating lease right-of-use assets, and other assets held by the company at the end of that year.
It's important to note that the 2023 financial statements of Card My Yard Franchising, LLC were audited by other auditors. These statements reflected total assets of $10,040,671 and total revenues of $3,521,565. The principal auditor's opinion regarding these amounts is based solely on the report from these other auditors.