What was the total value of noncurrent 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 total value of noncurrent assets for 2023 was $337,981, while in 2022, the total value was $336,241. Noncurrent assets include items not easily converted to cash within a year.
Specifically, the noncurrent assets consist of amounts due from related parties ($77,718 in 2023 and $78,040 in 2022), goodwill net of accumulated amortization ($145,999 in 2023 and $178,747 in 2022), notes receivable net of current portion and allowance ($103,304 in 2023 and $36,682 in 2022), and other noncurrent assets ($10,960 in 2023 and $42,772 in 2022).
For a prospective franchisee, understanding the composition and values of noncurrent assets can provide insights into the long-term financial health and stability of Golden Krust Caribbean Restaurant. Goodwill, for example, reflects the value of the brand's reputation and customer base, while notes receivable represent money owed to the company that is not expected to be paid within the next year. Significant fluctuations in these values from year to year could signal changes in the company's financial strategy or performance.
It is important to note that these figures are based on the financial statements provided in the FDD and may be subject to change. A potential franchisee should consult with a financial advisor to fully understand the implications of these numbers and how they relate to the overall franchise opportunity.