What was the value of the 'Leased Asset - Operating lease' for Goldfish Swim School in 2022?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
the lease classification for expired or existing leases.
- The Company did not reassess initial direct costs for any existing leases.
- The Company used hindsight to determine the lease term and to assess impairment of the right-of-use assets for existing leases.
Source: Item 22 — CONTRACTS (FDD pages 76–77)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the excerpt provided does not contain the specific value for the 'Leased Asset - Operating lease' for Goldfish Swim School in 2022. However, the document does discuss leases in general terms. Specifically, it mentions that the company recorded a right-of-use asset of $1,869,195 and a lease liability of $1,869,195 as of January 1, 2022, for the existing operating lease due to the adoption of ASU (Accounting Standards Update).
While this gives some insight into how Goldfish Swim School accounts for leases, it doesn't provide the exact figure for the leased asset value in 2022. The document outlines the accounting policies related to operating leases, stating that the company recognizes expenses for these leases on a straight-line basis over the lease term and includes all payments in the calculation of the right-of-use asset and lease liability.
To obtain the specific 'Leased Asset - Operating lease' value for 2022, a prospective franchisee should directly request this information from Goldfish Swim School. Understanding the value of leased assets is crucial for assessing the company's financial health and how it manages its lease obligations. This information would be helpful in evaluating the overall financial position of the company.
It is important to note that the FDD excerpts focus on the accounting treatment of leases and the brand fund, rather than providing a detailed breakdown of specific asset values for each year. Therefore, direct communication with the franchisor is necessary to get the precise financial data needed for thorough due diligence.