What was the total amount of prepaid expenses for Caring Senior Service in 2024?
Caring_Senior_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
ts December 31, 2024, 2023, and 2022**
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| ASSETS | |||
| Current Assets | |||
| Cash and cash equivalents | $ 519,628 | $ 257,005 | $ 130,008 |
| Acounts receivable: | |||
| Trade | 82,374 | 23,729 | 44,144 |
| Related party | 6,513 | 430 | 37,869 |
| Prepaid expenses | 3,924 | 16,484 | 63,733 |
| Total Current |
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 prepaid expenses for the company in 2024 were $3,924. This figure is part of the current assets listed on the balance sheet as of December 31, 2024. Prepaid expenses are costs that Caring Senior Service has paid in advance for goods or services that will be received in the future.
For a prospective franchisee, understanding the level of prepaid expenses can provide insight into the company's financial management and operational practices. It reflects how Caring Senior Service handles its financial obligations and manages its resources. A lower amount in prepaid expenses might indicate a more conservative approach to spending or different payment arrangements with vendors.
It's also worth noting the trend in prepaid expenses over the three years presented in the financial statements. The prepaid expenses decreased from $16,484 in 2023 to $3,924 in 2024. Reviewing these figures over time can help a potential franchisee understand how the company's financial strategies and obligations have evolved. This information, combined with other financial data, can assist in making an informed decision about investing in a Caring Senior Service franchise.