What was the total amount of Cinnaholic's prepaid assets on December 31, 2023?
Cinnaholic Franchise · 2025 FDDAnswer from 2025 FDD Document
those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
Muhammad Zubairy, CPA PC
Westbury, NY
April 4, 2024
CINNAHOLIC FRANCHISING LLC BALANCE SHEETS
| DECE | MBER 31 | |
|---|---|---|
| 2023 | 2022 | |
| ASSETS | ||
| Current Assets | ||
| Cash | $ 42,590 | $ 264,588 |
| Securities held for sale | - | 88,212 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 61)
What This Means (2025 FDD)
According to Cinnaholic's 2025 Franchise Disclosure Document, the company's prepaid assets totaled $536,157 as of December 31, 2023. This figure is part of the company's current assets, which totaled $913,911. Prepaid assets are payments Cinnaholic has made for goods or services that have not yet been received or used as of that date.
For a prospective franchisee, understanding the level of prepaid assets can offer insights into Cinnaholic's financial management and obligations. A significant increase in prepaid assets from one year to the next could indicate changes in Cinnaholic's operational strategies or vendor relationships.
It's worth noting that prepaid assets are distinct from other asset categories listed, such as cash, accounts receivable, and contract assets. Reviewing these different asset types can provide a more comprehensive view of Cinnaholic's financial health. Comparing the 2023 figures to those of previous years, such as 2022, can also reveal trends and potential areas of concern or strength.