What was the total amount of Card My Yard's assets in 2024?
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 | ||
| Revolving credit facility | 1,100,000 | - | ||
| Current portion of long-term debt, net of debt issuance costs | 206,519 | 851,000 | ||
| Total current liabilities | 8,793,496 | 6,994,472 | ||
| Contract | 20,994,540 | 17,393,479 | ||
| liabilities, |
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, the company's total assets in 2024 were $129,577,381. 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 Card My Yard at the end of the fiscal year.
Breaking down the asset composition, current assets totaled $14,214,643, which includes cash, accounts receivable (net of allowance for credit losses), other current receivables, the current portion of contract assets, and prepaid and other current assets. Goodwill, representing the intangible value acquired through business combinations, was valued at $52,556,496. Intangible assets, net of amortization, amounted to $45,678,810, while contract assets (net of current portion) were $13,317,603. Operating lease right-of-use assets, reflecting the company's rights to use leased properties, were $1,603,081, and other assets accounted for $2,206,748.
For a prospective franchisee, understanding the asset composition and total asset value of Card My Yard can provide insights into the financial stability and overall health of the company. A substantial asset base may indicate a strong foundation and the ability to support franchisees through various programs and initiatives. However, it's also important to consider the nature of these assets, such as the proportion of tangible versus intangible assets, to assess the long-term sustainability and potential risks associated with the franchise.