What is the total amount of non-current liabilities for Caring Senior Service?
Caring_Senior_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
| Current Liabilities | ||
|---|---|---|
| Accounts payable: | ||
| Trade | $ 220,999 $ | 229,137 $ 238,542 |
| Related party | 2,858 | 3,232 528 |
| Accrued state franchise taxes | 23,126 | 17,941 10,738 |
| Advances from related party | 95,535 | 97,126 54,538 |
| Current portion of interest payable | 30,900 | - - |
| Current portion of long-term debt | 6,750 | 16,921 10,037 |
| Current portion of note payable from related party | 6,845 | 3,869 - |
| Deferred franchise fees | 133,181 | 94,937 53,970 |
| Total Current Liabilities | 520,194 | 463,163 368,353 |
| Non-Current Liabilities | ||
| Interest payable | 6,312 | - - |
| Long-term debt, net of current portion | 499,258 | 497,222 512,946 |
| Note payable from related party | 189,285 | 196,131 - |
| Total Non-Current Liabilities | 694,855 | 693,353 512,946 |
| TOTAL LIABILITIES | 1,2 |
Source: Item 23 — RECEIPTS (FDD pages 53–204)
What This Means (2025 FDD)
According to Caring Senior Service's 2025 Franchise Disclosure Document, the total non-current liabilities as of December 31, 2024, were $694,855. This figure comprises several components, including interest payable, long-term debt net of the current portion, and a note payable from a related party. Non-current liabilities are obligations not expected to be paid within one year.
The components of the $694,855 in non-current liabilities include $6,312 in interest payable, $499,258 in long-term debt net of the current portion, and $189,285 in a note payable from a related party. Long-term debt represents the outstanding balance of loans and other debts that Caring Senior Service has, excluding the portion due within the next year. The note payable from a related party indicates money owed to an affiliated entity, which could have different terms and conditions than traditional bank loans.
Prospective franchisees should understand the nature and terms of these non-current liabilities, as they reflect the long-term financial obligations of Caring Senior Service. Reviewing the notes to the financial statements for more details on these liabilities is essential to assess the financial health and stability of the franchisor. Understanding the obligations of the franchisor can provide insight into how Caring Senior Service manages its debt and financial responsibilities, which can indirectly affect franchisees through the support and resources the franchisor can provide.