What were the total current liabilities for Cd One Price Cleaners as of December 30, 2022?
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 |
Source: Item 22 — Contracts (FDD page 72)
What This Means (2025 FDD)
According to Cd One Price Cleaners' 2025 Franchise Disclosure Document, the provided excerpts do not contain the specific figure for total current liabilities as of December 30, 2022. However, the document does include a table showing the company's balance sheet as of December 29, 2023, and December 27, 2024, which lists total current liabilities for those dates.
Specifically, the total current liabilities were $1,020,881 as of December 29, 2023, and $1,368,553 as of December 27, 2024. The components of current liabilities include accounts payable, accrued payroll and paid time off, accrued royalty rebate, accrued interest, operating lease liability - current, and margin loan.
To obtain the total current liabilities for December 30, 2022, a prospective Cd One Price Cleaners franchisee should ask the franchisor directly for the company's balance sheets or audited financial statements covering that period. This information is essential for assessing the financial health and stability of Cd One Price Cleaners.