What was the total assets amount for Floors To Go as of December 31, 2023?
Floors_To_Go Franchise · 2025 FDDAnswer from 2025 FDD Document
nditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
Balance Sheets
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Source: Item 23 — RECEIPTS (FDD pages 47–204)
What This Means (2025 FDD)
According to Floors To Go's 2025 Franchise Disclosure Document, the company's total assets as of December 31, 2023, were $1,326,960. This figure represents the sum of the company's current assets, which totaled $1,276,960, and goodwill, valued at $50,000.
Breaking down the assets further, the current assets included cash amounting to $812,308, accounts receivable (less an allowance for credit losses of approximately $27,500) totaling $461,463, and prepaid expenses of $3,189. Goodwill, which remained constant from the previous year, accounts for a smaller but still significant portion of the total assets.
It's important to note that these figures are based on an audit, providing a degree of assurance regarding their accuracy. Prospective franchisees should review these figures in the context of the company's liabilities and overall financial health, as detailed in the complete financial statements within the FDD. Understanding the asset composition can offer insights into the company's liquidity and its ability to meet its financial obligations.