What were the notes receivable for Caring Senior Service as of December 31, 2024?
Caring_Senior_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
rs Ended December 31, 2024, 2023, and 2022**
| Partners' Capital | Receivable from Partner-Owned Entities | Total | |
|---|---|---|---|
| Partners' capital, December 31, 2021 | $ 254,205 | (315,100) | (60,895) |
| Loans to partner-owned entities | $ - | $ (52,000) | (52,000) |
| Distributions | (593) | - | (593) |
| Net loss | (464,786) | - | (464,786) |
| Partners' capital, December 31, 2022 | (211,174) | (367,100) | (578,274) |
| Loans to partner-owned entities | - | (100,000) | (100,000) |
| Net loss | (174,967) | - | (174,967) |
| Partners' capital, December 31, 2023 - restated | (386,141) | (467,100) | (853,241) |
| Loans to partner-owned entities | - | (116,539) | (116,539) |
| Net Income | 419,016 | - | 419,016 |
| Partners' capital, December 31, 2 |
Source: Item 23 — RECEIPTS (FDD pages 53–204)
What This Means (2025 FDD)
According to Caring Senior Service's 2025 Franchise Disclosure Document, the partners' capital, including the receivable from partner-owned entities, was detailed in the financial statements. As of December 31, 2024, the receivable from partner-owned entities was ($583,639). This indicates the amount due to Caring Senior Service from entities owned by its partners.
This figure is important for prospective franchisees as it provides insight into the financial relationships between Caring Senior Service and its partners. Understanding these related-party transactions can help franchisees assess the financial stability and transparency of the franchise system. It is common for franchisors to have financial dealings with related parties, but the extent and nature of these transactions should be carefully evaluated.
It is important to note that the figure is presented as a negative number, indicating that the partners or their entities owe money to Caring Senior Service. Franchisees should seek clarification on the terms and collectability of these receivables during their due diligence. This information is crucial for evaluating the overall financial health of the Caring Senior Service franchise partnership.