What was the reported total of City Wide's other assets in 2022?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
have not been subjected to the auditing procedures applied in the audit of the consolidated financial statements and accordingly, we do not express an opinion or provide any assurance on it.
Kansas City, Missouri March 20, 2025
City Wide Franchise Company, Inc. & Subsidiaries Consolidated Balance Sheets December 31, 2024, 2023, and 2022
| 2024 | 2023 | 2022 | ||
|---|---|---|---|---|
| ASSETS | ||||
| Current Assets | ||||
| Cash and cash equivalents | $ 24,273,328 | $ | 17,836,030 | $ 20,166,393 |
| Accounts receivable, net of allowance | ||||
| 2024 - $132,811, 2023 - $0, 2022 - $0 | 5,389,631 | 4,711,498 | 4,120,583 | |
| Notes receivable, current maturities | 97,482 | 143,061 | 337,830 | |
| Deferred franchise costs, current portion | 159,494 | 150,281 | 146,607 | |
| Prepaid expenses | 968,181 | 644,999 | 628,582 | |
| Inventory | 16,768 | 75,493 | 75,418 | |
| Total current assets | 30,904,884 | 23,561,362 | 25,475,413 | |
| Property and Equipment, net | 1,390,853 | 2,018,516 | 3,081,584 | |
| Right-of-Use Asset - Operating Leases, net | 604,257 | 698,572 | 789,931 | |
| Other Assets | ||||
| Notes rec |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 65)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, the total of other assets reported for the year 2022 was $5,743,191. This figure is part of the consolidated financial statements, reflecting the combined assets of City Wide Franchise Company, Inc. and its subsidiaries.
Other assets typically include items that are not easily classified as current assets, property, or equipment. In City Wide's case, these assets consist of notes receivable (less current maturities), software subscriptions, deferred franchise costs (net of current portion), and the cash surrender value of life insurance. These components reflect City Wide's long-term investments, intangible assets, and financial arrangements.
For a prospective franchisee, understanding the composition and value of these other assets provides insight into the financial stability and long-term planning of City Wide. It demonstrates how the company manages its resources beyond immediate operational needs. Reviewing these figures over several years, as presented in the table, can reveal trends and inform investment decisions.