What was the total value of City Wide's total 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 receivable, less current maturities | 4,133,296 | 4,133,296 | 4,158,686 | |
| Software subscription | - | 1,522,554 | - | |
| Deferred franchise costs, net of current portion | 712,044 | 724,741 | 791,318 | |
| Cash surrender value of life insurance | 1,742,041 | 1,142,666 | 793,187 | |
| Total other assets | 6,587,381 | 7,523,257 | 5,743,191 | |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 65)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, the company's total assets in 2022 amounted to $35,090,119. This figure represents the sum of City Wide's current assets, property and equipment, right-of-use assets related to operating leases, and other assets as of December 31, 2022. These assets are crucial for City Wide's operations and financial stability.
A prospective franchisee should understand the composition of these assets, as they reflect the financial health and resources of City Wide. Current assets, such as cash and accounts receivable, indicate the company's short-term liquidity. Property and equipment represent the physical resources available, while other assets may include long-term investments or intangible assets.
It's important to note that these figures are based on audited financial statements, providing a degree of assurance regarding their accuracy. Franchisees may want to compare these asset values with those of other franchise systems to benchmark City Wide's financial position. Additionally, understanding the liabilities and equity alongside the assets provides a more complete picture of the company's financial structure.