What were the total liabilities for Clean Your Dirty Face in 2024?
Clean_Your_Dirty_Face Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | ||
|---|---|---|---|
| Current Assets | |||
| Cash and cash equivalents | $ 20,963 | $ | 23,501 |
| Investments - at fair market value | 750,000 | 1,276,253 | |
| Accounts receivable | 26,198 | 25,964 | |
| Member contributions receivable | 300,000 | - | |
| Total Current Assets | 1,097,161 | 1,325,718 | |
| Property and Equipment | |||
| Equipment | 585 | 585 | |
| Less: accumulated depreciation | (585) | (585) | |
| Net Property and Equipment | - | - | |
| Overpayment of credit card | 9,829 | - | |
| Total Assets | $ 1,106,990 | $ | 1,325,718 |
| Liabilities and Member's Equity | |||
| Liabilities | |||
| Credit cards payable | $ - | $ | 2,174 |
| Accrued expenses | 7,373 | 3,508 | |
| Deferred revenue | 700,000 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 54)
What This Means (2025 FDD)
According to Clean Your Dirty Face's 2025 Franchise Disclosure Document, the company's total liabilities in 2024 were $707,373. These liabilities consist of several components, including credit cards payable, accrued expenses, and deferred revenue.
Specifically, the FDD lists the individual liability categories that sum up to the total. Credit cards payable amounted to $0, accrued expenses were $7,373, and deferred revenue accounted for $700,000. Deferred revenue typically represents payments Clean Your Dirty Face has received for services or products that have not yet been delivered or rendered.
Understanding the composition of these liabilities is crucial for prospective franchisees. A high level of deferred revenue, for example, might indicate strong future revenue streams, but it also represents a commitment to provide future services. Monitoring these liabilities over time can provide insights into the financial stability and operational efficiency of Clean Your Dirty Face.