What was the total balance for Engineering For Kids as of December 31, 2024?
Engineering_For_Kids Franchise · 2025 FDDAnswer from 2025 FDD Document
| (2,167) | |
| NET INCOME | $ 37,219 | $ | 34,933 | $ | 56,260 | |
ENGINEERING FOR KIDS INTERNATIONAL, LLC STATEMENTS OF MEMBER'S EQUITY YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022
| Member Capital | Retained Earnings (Deficit) | Total | |
|---|---|---|---|
| BALANCE, January 1, 2022 | $ 100 | $ (15,900) | $ (15,800) |
| Net income | - | 56,260 | 56,260 |
| BALANCE, December 31, 2022 | 100 | 40,360 | 40,460 |
| Net income | - | 34,933 | 34,933 |
| BALANCE, December 31, 2023 | 100 | 75,293 | 75,393 |
| Net income | - | 37,219 | 37,219 |
| BALANCE, December 31, 2024 | $ 100 | $ 112,512 | $ 112,612 |
ENGINEERING FOR KIDS INTERNATIONAL, LLC STATEMENTS CASH FLOWS YEARS ENDED DECEMBER 31, 2024 2023, AND 2022
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| INCREASE (DECREASE) IN CASH AND CASH | |||
| EQUIVALENTS | |||
| Cash flows from operating activities | $ 37,219 | $ 34,933 | $ 56,260 |
| Net income | |||
| Adjustments to reconcile net income to | |||
| net cash provided (used) by operating activities | |||
| Amortization | 10,437 | - | 2,235 |
| Changes in assets and liabilities | |||
| Accounts receivable | (13,138) | 16,709 | (44,865) |
| Prepaid expenses | 3,625 | 111 | 8,879 |
| Accounts payable | (320) | (6,318) | - |
| Due to/from related party | (130,008) | 63,874 | 30,249 |
| Accrued liabilities | (1,927) | 6,244 | (20,060) |
| Total adjustments | (131,331) | 80,620 | (23,562) |
| Net cash provided (used) by operating activities | (94,112) | 115,553 | 32,698 |
| Cash flows from investing activities | |||
| Investment in intangible assets | (1,808) | (28,934) | (22,345) |
| NET INCREASE (DECREASE) IN CASH AND | (95,920) | 86,619 | 10,353 |
| CASH EQUIVALENTS | |||
| CASH AND CASH EQUIVALENTS, beginning of year | 117,655 | 31,036 | 20,683 |
| CASH AND CASH EQUIVALENTS, end of year | $ 21,735 | $ 117,655 | $ 31,036 |
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting
The financial statements of Engin
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
According to Engineering For Kids' 2025 Franchise Disclosure Document, the balance sheet as of December 31, 2024, shows a total balance of $112,612. This figure represents the sum of member capital and retained earnings. Member capital was recorded at $100, while retained earnings amounted to $112,512.
Analyzing the balance sheet further, the total assets for Engineering For Kids as of December 31, 2024, amounted to $138,356. This was composed of current assets totaling $97,939 and intangible assets (less accumulated amortization) of $40,417. The current assets included cash and cash equivalents of $21,735, accounts receivable (net of allowance for credit losses) of $58,661, due from related party of $14,968, and prepaid expenses of $2,575.
On the liabilities side, Engineering For Kids had total liabilities of $25,744, consisting of accrued liabilities. There were no recorded amounts for accounts payable or due to related party as of this date. Member's equity, comprising member capital and retained earnings, totaled $112,612, bringing the total liabilities and member's equity to $138,356, which balances with the total assets.
Prospective franchisees should note that these figures reflect the financial position of Engineering For Kids International, LLC at a specific point in time and are subject to change. Reviewing these figures in conjunction with other financial statements, such as the statements of operations and cash flows, will provide a more comprehensive understanding of the company's financial health.