What was the total amount of accounts receivable for Floyds 99 as of December 25, 2022?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
e number of shops in operation and the number of shops sold but not yet operational:
| Provision | Section in Development Agreement | Summary | ||
|---|---|---|---|---|
| d. | Termination by franchisee | Not Applicable | Not Applicable (subject to state law) | |
| u. | Dispute resolution by arbitration or mediation | Not Applicable | Not Applicable (subject to state law) | # Note 2 - Significant Accounting Policies |
Fiscal Years
The Company operates on a 52-/53-week fiscal year ending on the Sunday nearest to December 31. The fiscal year ended December 29, 2024 contained 52 weeks; the fiscal year ended December 31, 2023 contained 53 weeks; and the fiscal year ended December 25, 2022 contained 52 weeks.
Restricted Cash
The Company established and has collected contributions for a National Marketing Agency Fund pursuant to the Franchise Disclosure Document and individual franchi
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to Floyds 99's 2025 Franchise Disclosure Document, the company's accounts receivable as of December 25, 2022, was part of a broader discussion regarding their accounting policies. The FDD specifies that the accounts receivable balance consists of franchise fees, pass-through expenses due from franchisees, and royalties. These receivables are stated at invoice amounts, and Floyds 99 considers an allowance for expected credit losses on an ongoing basis.
However, as of December 25, 2022, Floyds 99 did not record an allowance for credit losses. The company determined that there was minimal risk of credit losses based on historical performance, current conditions, and future expectations. They believed any such credit losses would be insignificant to their financial statements. Consequently, there were no write-offs of trade accounts receivable for the year ended December 25, 2022.
The document states that accounts receivable as of December 27, 2021 was $77,185. The 2025 FDD does not explicitly state the total accounts receivable as of December 25, 2022. A prospective franchisee should inquire with Floyds 99 Franchising, LLC, to obtain the specific accounts receivable figure for December 25, 2022, to gain a clearer understanding of the company's financial position at that time.