What was the cash balance at the beginning of 2023 for Crave Cookies?
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.
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2022 and 2021, and the results of its operations and its cash flows for the periods then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 47)
What This Means (2025 FDD)
Based on the 2025 Crave Cookies Franchise Disclosure Document, the financial statements include balance sheets as of December 31, 2022, and December 31, 2021. To determine the cash balance at the beginning of 2023, a prospective franchisee would need to refer to the balance sheet as of December 31, 2022. This balance sheet would list the assets, liabilities, and equity of Crave Cookies at the close of 2022, with the cash balance reflecting the company's liquid assets at that time. This figure would then represent the starting cash position for the subsequent year, 2023.
While the FDD includes the independent auditor's reports and notes to the financial statements for multiple years, it does not explicitly state the cash balance as of December 31, 2022, within the provided excerpts. The auditor's reports confirm that the financial statements present fairly the financial position of Crave Cookies as of the specified dates, but the actual figures are not detailed in these excerpts. The notes to the financial statements discuss various accounting policies, such as the treatment of accounts receivable, inventories, and prepaid expenses, but they do not provide specific cash balance numbers.
Therefore, to find the exact cash balance at the beginning of 2023, a potential Crave Cookies franchisee should carefully review the complete financial statements within the 2025 FDD or request this information directly from the franchisor. Understanding the company's cash position is crucial for assessing its financial health and stability, which can be an important factor in making an informed investment decision. Reviewing the balance sheets for multiple years can also provide insights into the company's financial trends and cash management practices.