What was the beginning of period balance for contract assets for Crave Cookies as of December 31, 2021?
Crave_Cookies Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the financial statements of Crave Cookies Franchising, LLC (the Company), which comprise the balance sheets as of December 31, 2022 and 2021, and the related statements of operations, members' deficit, and cash flows for the year ended December 31, 2022 and the period from February 15, 2021 (inception) to December 31, 2021, and the related notes to the financial statements.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 47)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the beginning of period balance for contract assets for Crave Cookies as of December 31, 2021, is not explicitly stated. While the document includes financial statements and notes, it does not provide a specific figure for contract assets as of that date.
However, the FDD does include balance sheets as of December 31, 2022 and 2021, and related statements of operations, members' deficit, and cash flows for the year ended December 31, 2022 and the period from February 15, 2021 (inception) to December 31, 2021. These financial statements are audited by independent accountants, suggesting a degree of reliability. The notes to the financial statements also detail accounting policies and other relevant information.
A prospective franchisee should inquire directly with Crave Cookies' management to obtain the specific beginning of period balance for contract assets as of December 31, 2021. Understanding this figure would provide a clearer picture of the company's financial position at that time and how it has evolved since its inception.