What was the total amount of Card My Yard's current 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 | $ |
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 current assets in 2024 were $14,214,643. Current assets include cash, accounts receivable, and other assets that are expected to be converted into cash within one year.
Specifically, the current assets listed include cash amounting to $3,690,691, accounts receivable (net of allowance for credit losses) totaling $6,102,611, other current receivables of $820,000, the current portion of contract assets valued at $1,797,429, and prepaid and other current assets worth $1,803,912. These individual components add up to the reported total current assets of $14,214,643 for the year 2024.
Understanding the composition and value of current assets is crucial for prospective franchisees as it provides insight into the company's short-term financial health and liquidity. A higher value of current assets relative to current liabilities generally indicates a stronger ability to meet short-term obligations. Reviewing these figures in comparison to previous years and industry benchmarks can further inform a franchisee's assessment of the financial stability and growth potential of Card My Yard.