Does Gold Star include month-to-month leases on its consolidated balance sheets?
Gold_Star Franchise · 2025 FDDAnswer from 2025 FDD Document
The Company has signed twenty-four operating leases for which right of use assets were recorded on the consolidated balance sheets of the Company. As of December 31, 2024, 2023, and 2022, six leases are for buildings, nine leases are for equipment and furniture, and nine leases are for land. These leases expire on various dates through September 2048. In addition, the Company also has various operating leases that are month-to-month or expire in twelve months or less and are not included on the consolidated balance sheets as of December 31, 2024, 2023, and 2022. These leases are subject to certain renewal and/or termination options, all of which were not included in the lease liabilities due to the options not being reasonably certain to be exercised.
Source: Item 23 — Receipts (FDD pages 53–163)
What This Means (2025 FDD)
According to Gold Star's 2025 Franchise Disclosure Document, the company has various operating leases that are month-to-month or expire in twelve months or less. Gold Star does not include these leases on its consolidated balance sheets as of December 31, 2024, 2023, and 2022.
Gold Star also has twenty-four operating leases for which right of use assets were recorded on the consolidated balance sheets. As of December 31, 2024, 2023, and 2022, six of these leases are for buildings, nine leases are for equipment and furniture, and nine leases are for land. These leases expire on various dates through September 2048.
The leases are subject to certain renewal and/or termination options, none of which were included in the lease liabilities because the options were not reasonably certain to be exercised.