What was the total value of Crave Cookies' contract assets in 2021?
Crave_Cookies Franchise · 2025 FDDAnswer from 2025 FDD Document
the audit.
FORVIS, LLP
Salt Lake City, Utah November 13, 2023
Balance Sheets December 31, 2022 and 2021
Assets
| 2022 | 2021 | |
|---|---|---|
| Current Assets | ||
| Cash | $ 181,217 | $ 34,177 |
| Accounts receivable | 17,607 | 5-6 |
| Inventory | 7,196 | 21,515 |
| Prepaid expenses | 26,795 | |
| Contract assets | - | 2,000 |
| Note receivable - related party | 15,996 | 62,899 |
| Total current assets | 248,811 | 120,591 |
| Property and Equipment, at Cost | ||
| Equipment | 23,272 | 7,208 |
| Accumulated depreciation | (4,984) | (400) |
| Total property and equipment, net | 18,288 | 6,808 |
| Right-of-Use (ROU) Assets - Operating Leases | 3,716 | 859 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 47)
What This Means (2025 FDD)
According to Crave Cookies' 2025 Franchise Disclosure Document, the company's balance sheet lists contract assets for both 2022 and 2021. In 2021, Crave Cookies had current contract assets valued at $2,000 and long-term contract assets valued at $42,595.
This means that Crave Cookies had a total of $44,595 in contract assets in 2021. These assets likely represent revenue that Crave Cookies has earned but not yet received in cash.
A prospective franchisee should understand what these contract assets represent and how they are generated. It would be prudent to inquire with Crave Cookies about the nature of these assets and the payment terms associated with them.