What was the total non-current liabilities for Caring Senior Service in 2024?
Caring_Senior_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| LIABILITIES AND PARTNERS' CAPITAL (DEFICIT) | |||
| 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 |
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 for the company in 2024 were $694,855. This figure is comprised of three components: interest payable, long-term debt net of the current portion, and a note payable from a related party.
The interest payable, representing the amount of interest due on Caring Senior Service's debts beyond the current year, was $6,312. The long-term debt, net of the current portion, which reflects the principal amount of debts due beyond the next 12 months, was $499,258. Lastly, the note payable from a related party, indicating a loan from an entity connected to the Partnership, was $189,285.
For a prospective franchisee, understanding the breakdown of these liabilities is crucial. It provides insight into the financial obligations of Caring Senior Service and how they manage their debt. The presence of related-party transactions, such as the note payable, is also important to note, as these can sometimes have implications for the company's financial stability and transparency. Reviewing these figures in comparison to previous years (2023 and 2022) can further illustrate the trend and management of Caring Senior Service's long-term financial responsibilities.