What was the total value of Card My Yard's cash assets in the most recent year presented?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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 current receivable | 820,000 | - | ||
| Current portion of contract assets | 1,797,429 | 1,382,859 | ||
| Prepaid and other current assets | 1,803,912 | 1,537,556 | ||
| Total current assets | 14,214,643 | 8,781,085 |
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, the consolidated balance sheets include cash assets as of December 31, 2024, and December 31, 2023. The most recent year presented, 2024, shows cash assets totaling $3,690,691. In the previous year, 2023, the cash assets totaled $1,455,349.
In addition to standard cash assets, the balance sheets also list "restricted cash." For 2024, the restricted cash is listed as zero, while in 2023, it was $840,143. Restricted cash typically refers to funds set aside for a specific purpose and not available for general use.
A prospective franchisee should note the difference in cash and restricted cash between the two years. Understanding the reasons behind these changes could provide insight into Card My Yard's financial management and strategic decisions. Reviewing the complete audited financial statements and asking the franchisor for clarification on these figures is advisable.