What was the amount of 'other receivables' for Caring Transitions in 2022?
Caring_Transitions Franchise · 2025 FDDAnswer from 2025 FDD Document
that we identified during the audit.
Clark, Schaefer, Hackett & Co.
Cincinnati, Ohio March 24, 2025
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Assets | |||
| Current assets: | |||
| Cash | $ 2,075,001 | 949,879 | 979,239 |
| Restricted cash | 239,784 | 170,591 | 115,694 |
| Accounts receivable | 706,468 | 532,863 | 389,795 |
| Other receivables | - | - | 6,463 |
| 3,021,253 | 1,653,333 | 1,491,191 | |
| Property and equipment: | |||
| Internal-use software costs | 1,277,414 | 982,694 | 682,334 |
| Computer equipment | 30,428 | 30,428 | 30,428 |
| Leasehold improvements | 40,610 | 40,610 | 40,610 |
| 1,348,452 | 1,053,732 | 753,372 | |
| Accumulated depreciation | (367,508) | (253,387) | (144,122) |
| 980,944 | 800,345 | 609,250 | |
| Other assets: | |||
| Franchise contract asset | 279,182 | 194,035 | 125,690 |
| Operating right-of-use asset | 485, |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2025 FDD)
According to Caring Transitions' 2025 Franchise Disclosure Document, the amount of 'other receivables' for the company in 2022 was $6,463. This figure is part of the company's assets, which totaled $2,412,806 in 2022. Understanding the composition of a company's assets, including items like 'other receivables,' is crucial for assessing its financial health.
'Other receivables' typically include amounts owed to the company that are not from standard sales or services, such as employee advances or insurance claims. For a prospective Caring Transitions franchisee, this indicates the level of miscellaneous income the company anticipates receiving. Monitoring these receivables helps in forecasting cash flow and managing working capital.
It's important to note that while 'other receivables' can contribute to a company's asset base, they may also carry a higher risk of non-payment compared to standard accounts receivable. Therefore, franchisees should inquire about the nature and collectability of these receivables to gain a clearer picture of the company's financial stability and risk profile.