What amount of Hyper Kidz's long-term debt is categorized as 'Thereafter'?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
ings, and certain internal control—related matters that we identified during the audit.
Ft. Collins, Colorado March 23, 2024
BOOMERANG FRANCHISE, LLC BALANCE SHEETS
| AS OF DECEMBER 31, | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| ASSETS: | ||||
| CURRENT ASSETS | ||||
| Cash and equivalents | $ | 18,203 | $ | 7,376 |
| Accounts receivable | 20,155 | 18,006 | ||
| TOTAL CURRENT ASSETS | 38,358 | 25,382 | ||
| TOTAL ASSETS | $ | 38,358 | $ | 25,382 |
| LIABILITIES AND MEMBERS' (DEFICIT): | ||||
| CURRENT LIABILITIES | ||||
| Accounts payable and accrued expenses | $ | 6,745 | $ | 3,813 |
| Non-refundable deferred franchise sales, current portion | 20,700 | 7,900 | ||
| Notes payable, current portion | - | 341 | ||
| TOTAL CURRENT LIABILITIES | 27,445 | 12,054 | ||
| LONG-TERM LIABILITIES | ||||
| Non-refundable deferred franchise sales | 157,095 | 55,958 | ||
| Notes payable | 79,000 | 78,659 | ||
| TOTAL LIABILITIES | 263,540 | 146,671 | ||
| MEMBERS' (DEFICIT) | ||||
| Members' equity (deficit) | (62,130) | 55,63 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 52)
What This Means (2024 FDD)
Based on the 2024 Hyper Kidz Franchise Disclosure Document, information regarding the specific categorization of long-term debt as 'Thereafter' is not available. The FDD does include details on the overall long-term liabilities of Hyper Kidz.
Specifically, the FDD presents the long-term liabilities for the years 2022 and 2023. In 2023, Hyper Kidz had long-term non-refundable deferred franchise sales of $157,095 and notes payable of $79,000. In 2022, the long-term non-refundable deferred franchise sales were $55,958, and notes payable amounted to $78,659.
To get a clearer picture of Hyper Kidz's debt structure, a prospective franchisee should ask the franchisor for a detailed breakdown of the long-term debt, including maturity dates and amounts due in specific future periods (i.e., the 'Thereafter' category). This information is essential for assessing the financial stability and risk associated with investing in a Hyper Kidz franchise.