What was the total reported amount for current liabilities for Gold Star as of 2024?
Gold_Star Franchise · 2025 FDDAnswer from 2025 FDD Document
solidated financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the consolidated financial statements as a whole.
Prior Period Financial Statements
Dean Dotton allen Ford, PUC
The financial statements as of December 31, 2022, were audited by VonLehman & Company Inc., who merged with Dean Dorton Allen Ford, PLLC as of January 1, 2024.
Fort Wright, Kentucky
April 8, 2025
GOLD STAR CHILI, INC. CONSOLIDATED BALANCE SHEETS
ASSETS
| $ | | | | $ | |---|---|---|---|---| | | - | - | - | |
GOLD STAR CHILI, INC. CONSOLIDATED BALANCE SHEETS (Continued)
LIABILITIES AND STOCKHOLDERS' EQUITY
| | | Dece
Source: Item 23 — Receipts (FDD pages 53–163)
What This Means (2025 FDD)
According to Gold Star's 2025 Franchise Disclosure Document, the total current liabilities for the company as of December 31, 2024, was $2,847,717. This figure represents the sum of several short-term financial obligations, including a line of credit, installment notes payable, accounts payable, operating lease liabilities, gift card liability, accrued wages and related liabilities, accrued expenses and other liabilities, and deferred franchise fees.
For a prospective franchisee, understanding the current liabilities of Gold Star is crucial as it provides insight into the company's short-term financial health and obligations. A high level of current liabilities relative to current assets could indicate potential liquidity issues, which might affect the franchisor's ability to support its franchisees. Conversely, a manageable level of current liabilities suggests that Gold Star is in a stable position to meet its short-term obligations.
It is important to note that this figure is part of a consolidated balance sheet, which includes the financial positions of Gold Star Chili, Inc. and its subsidiaries. Franchisees should consider this number in conjunction with other financial metrics, such as total assets, long-term liabilities, and equity, to gain a comprehensive understanding of Gold Star's financial stability. Additionally, comparing these figures with previous years (2022 and 2023, also provided in the excerpt) can reveal trends in the company's financial management and overall financial health.