What was the total amount of trade accounts payable 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 Assets | 612,439 | 297,648 | 275,754 |
| Property and equipment, net of depreciation | - | 5,627 | 15,271 |
| Notes receivable | 51,846 | - | 12,000 |
| TOTAL ASSETS | $ 664,285 | $ 303,275 | $ 303,025 |
| LIABILITIES AND PARTNERS' CAPITAL (DEFICIT) | |||
| 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 | 1,215,049 | 1,156,516 | 881,299 |
| Partners' Capital | |||
| Partners' Capital (Deficit) - restated | 32,875 | (386,141) | (211,174) |
| Less: receivables from partner-owned entities | (583,639) | (467,100) | (367,100) |
| Total Partners' Capital (Deficit) | (550,764) | (853,241) | (578,274) |
| TOTAL LIABILITIES AND | $ 664,285 | $ 303,275 | $ 303,025 |
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 amount included in accounts payable - trade at December 31, 2024, was $220,999. This figure represents the company's outstanding obligations to its suppliers and vendors for goods and services received in the normal course of business. It's a snapshot of what Caring Senior Service owed to its trade creditors at the close of the 2024 fiscal year.
For a prospective franchisee, understanding the accounts payable is crucial as it reflects the company's short-term financial health and its ability to manage its current liabilities. A high accounts payable balance relative to its assets could indicate potential liquidity issues, while a lower balance might suggest efficient management of its financial obligations. However, it is important to note that the trade accounts payable reported in the table is for the Caring Senior Service Franchise Partnership, L.P., and not for individual franchisees.
It is also important to note that in addition to trade accounts payable, Caring Senior Service also had accounts payable to related parties. These totaled $2,858 as of December 31, 2024. These are separate from the trade accounts payable and represent amounts owed to entities related to the Partnership. Reviewing both types of payables provides a more complete picture of Caring Senior Service's financial obligations.