What was the total value of assets for Golden Krust Caribbean Restaurant?
Golden_Krust_Caribbean_Restaurant Franchise · 2024 FDDAnswer from 2024 FDD Document
| ASSETS | |||
|---|---|---|---|
| CURRENT ASSETS: | |||
| Cash and restricted cash | $ 1,357,728 | $ 451,809 | |
| Accounts receivable, net of allowance for doubtful accounts | |||
| of $1,020,611 and $824,037 | 995,682 | 714,924 | |
| Employee Retention Credit receivable | - | 580,958 | |
| Notes receivable current portion | 23,773 | 18,148 | |
| Inventory | 33,854 | 37,569 | |
| Prepaid expenses | 10,593 | 46,501 | |
| Total Current Assets | 2,421,630 | 1,849,909 | |
| PROPERTY AND EQUIPMENT, Net | 229,140 | 269,584 | |
| ROU OPERATING ASSETS | 568,892 | - | |
| NONCURRENT ASSETS: | |||
| Due from related parties | 77,718 | 78,040 | |
| Goodwill, Net of accumulated amortization of | |||
| $181,476 and $148,728, respectively | 145,999 | 178,747 | |
| Notes receivable, net of current portion and allowance for | |||
| of $227,212 and $212,213 | 103,304 | 36,682 | |
| Other noncurrent assets | 10,960 | 42,772 | |
| Total Noncurrent Assets | 337,981 | 336,241 | |
| Total Assets | $ 3,557,643 | $ 2,455,734 |
Source: Item 23 — RECEIPT (FDD pages 35–153)
What This Means (2024 FDD)
According to Golden Krust Caribbean Restaurant's 2024 Franchise Disclosure Document, the company's total assets were valued at $3,557,643 in 2023 and $2,455,734 in 2022. These assets include both current and noncurrent assets. Current assets consist of cash and restricted cash, accounts receivable, employee retention credit receivable, notes receivable, inventory, and prepaid expenses.
Breaking down the 2023 figures, Golden Krust Caribbean Restaurant's current assets totaled $2,421,630. This comprised $1,357,728 in cash and restricted cash, $995,682 in accounts receivable (net of allowance for doubtful accounts of $1,020,611), $23,773 in notes receivable, $33,854 in inventory, and $10,593 in prepaid expenses. Additionally, the company held $229,140 in property and equipment and $568,892 in ROU (Right-of-Use) operating assets.
Noncurrent assets for Golden Krust Caribbean Restaurant in 2023 included $77,718 due from related parties, $145,999 in goodwill (net of accumulated amortization of $181,476), $103,304 in notes receivable (net of current portion and allowance for doubtful accounts of $227,212), and $10,960 in other noncurrent assets. The total of these noncurrent assets amounted to $337,981. Understanding the composition and changes in these asset values can provide a prospective franchisee with insights into the financial health and stability of Golden Krust Caribbean Restaurant.