What were the total assets for Corporate Cleaning Group in 2022?
Corporate_Cleaning_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
ordingly, we do not express an opinion or provide any assurance on it.
Doyle & Associates, PLLC Farmington Hills, Michigan
March 27, 2025
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| CURRENT ASSETS | |||
| Cash in bank | $ 53,094 | $ 186,944 | $ 151,684 |
| Accounts receivable, trade, less allowance for doubtful | |||
| accounts of $650, $650 and $650, respectively | 193,406 | 178,150 | 89,417 |
| Prepaid expenses | 6,626 | 9,190 | 25,437 |
| Note receivable - related party | - · · · · · · · · · · · | 17,000 | |
| Deferred commissions | 69,917 | 51,584 | 29,364 |
| Total Current Assets | 323,043 | 442,868 | 295,902 |
| PROPERTY AND EQUIPMENT | |||
| Building improvements | 37,149 | 27,089 | 14,925 |
| Equipment | 23,528 | 20,841 | 20,841 |
| Furniture and fixtures | 13,561 | 13,561 | 4,595 |
| Total Property and Equipment | 74,238 | 61,491 | 40,361 |
| Less: Accumulated depreciation | 22,204 | 16,845 | 12,886 |
| Net Property and Equipment | 52,034 | 44,646 | 27,475 |
| OTHER ASSETS | |||
| Operating lease right-of-use assets | 14,850 | 29,245 | - |
| Deferred commissions | 516,418 | 416,238 | 255,489 |
| Total Other Assets | 531,268 | 445,483 | 255,489 |
| TOTAL ASSETS | $ 906,345 | $ 932,997 | $ 578,866 |
|
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 51)
What This Means (2025 FDD)
According to Corporate Cleaning Group's 2025 Franchise Disclosure Document, the company's total assets in 2022 were $578,866. This figure represents the sum of all the company's possessions and rights that have a monetary value. These assets are categorized into current assets, property and equipment (net of accumulated depreciation), and other assets.
Specifically, the current assets include cash in the bank, accounts receivable (less allowance for doubtful accounts), prepaid expenses, note receivable from a related party, and deferred commissions. Property and equipment include building improvements, equipment, and furniture and fixtures, less accumulated depreciation. Other assets include operating lease right-of-use assets and deferred commissions.
Understanding the composition and value of a franchisor's assets can be useful for a prospective franchisee. It provides insight into the financial health and stability of Corporate Cleaning Group. Reviewing these figures over the three years presented (2022, 2023, and 2024) can reveal trends in the company's asset management and overall financial performance.