What were the total assets for Cd One Price Cleaners as of December 29, 2023?
Cd_One_Price_Cleaners Franchise · 2025 FDDAnswer from 2025 FDD Document
rs, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
April 17, 2025
Cleaners Depot Franchise, LLC Balance Sheet
| December 27, 2024 | December 29, 2023 | |
|---|---|---|
| Assets | ||
| Current assets: Cash Restricted cash Investments | $ 307,583 323,372 3,358,000 | $ 310,463 87,660 2,802,853 |
| Prepaid expenses | 16,265 | 8,862 |
| Total current assets | 4,005,220 | 3,209,838 |
| Property and equipment at cost, less accumulated | ||
| accumulated depreciation and amortization of | ||
| $14,694 at December 27, 2024 ($5,982 at | ||
| December 29, 2023) | 20,412 | 25,445 |
| Operating lease right-of-use asset | 265,156 | 303,616 |
| Security deposits | 6,727 | 6,727 |
| Total assets | $ 4,297,515 | $ 3,545,626 |
| Liabilities and Members' Equity | ||
| Current liabilities: | ||
| Accounts payable | $ 91,250 | $ 6,789 |
| Accrued payroll and paid time off | 19,462 | 17,727 |
| Accrued royalty rebate | 197,854 | 186,120 |
| Accrued interest | 19,622 | 61,466 |
| Operating lease liability - current | 43,796 | 40,944 |
| Margin loan | 996,569 | 707,835 |
| Total current liabilities | 1,368,553 | 1,020,881 |
| Long-term liabilities: | ||
| Operating lease liability - noncurrent | 261,437 | 305,232 |
| Loa |
Source: Item 22 — Contracts (FDD page 72)
What This Means (2025 FDD)
According to Cd One Price Cleaners' 2025 Franchise Disclosure Document, the company's total assets as of December 29, 2023, were $3,545,626. This figure represents the sum of various asset categories, including current assets like cash, restricted cash, and investments, as well as property and equipment, operating lease right-of-use assets, and security deposits.
Specifically, the current assets totaled $3,209,838, encompassing $310,463 in cash, $87,660 in restricted cash, and $2,802,853 in investments. Additionally, property and equipment, net of accumulated depreciation, amounted to $25,445. The operating lease right-of-use asset was valued at $303,616, and security deposits accounted for $6,727.
For a prospective franchisee, understanding the asset composition of Cd One Price Cleaners provides insight into the financial health and resource allocation of the company. A significant portion of the assets is held in investments, which could indicate a strategy for long-term growth or financial stability. The presence of operating lease right-of-use assets reflects the company's lease obligations for its locations.
It is important to note that these figures are based on accounting principles generally accepted in the United States of America, which require management to make estimates and assumptions. Actual results could differ from those estimates. Reviewing the complete financial statements and seeking professional financial advice is recommended for a comprehensive understanding.