What were the total other assets for Corporate Cleaning Group in 2024?
Corporate_Cleaning_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| 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 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 51)
What This Means (2025 FDD)
According to Corporate Cleaning Group's 2025 Franchise Disclosure Document, the total other assets for the company in 2024 were $531,268. This figure is comprised of two components: operating lease right-of-use assets, which amounted to $14,850, and deferred commissions, which totaled $516,418.
For a prospective franchisee, understanding the composition of these 'other assets' can provide insights into Corporate Cleaning Group's financial strategies and obligations. Operating lease right-of-use assets reflect the company's leased properties and equipment, while deferred commissions represent commission expenses that have been paid but not yet fully recognized as expenses on the income statement. These deferred costs are typically amortized over a period of time.
It's worth noting the changes in these asset categories over the years. In 2023, total other assets were $445,483, consisting of $29,245 in operating lease right-of-use assets and $416,238 in deferred commissions. The 2022 figures show total other assets at $255,489, with no listed operating lease right-of-use assets and $255,489 in deferred commissions. The increase in total other assets from 2022 to 2024 indicates potential growth and investment by Corporate Cleaning Group in its operations and franchise network.