What was the total value of Hyper Kidz's property, plant, and equipment as of December 31, 2022?
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 Franchise Disclosure Document, the provided financial statements for Hyper Kidz do not include a specific line item for "property, plant, and equipment" (PP&E) as of December 31, 2022. The balance sheet provides a summary of assets, liabilities, and members' equity, but it does not detail the individual components of fixed assets like property, plant, and equipment.
Instead, the balance sheet focuses on current assets such as cash and equivalents and accounts receivable. It also outlines total assets, current liabilities, long-term liabilities, and members' equity. For instance, as of December 31, 2022, Hyper Kidz reported total assets of $25,382.
To get a clear picture of Hyper Kidz's investment in property, plant, and equipment, a prospective franchisee should ask the franchisor for a detailed breakdown of the company's assets, including a schedule of fixed assets and their net book value. This information is crucial for assessing the company's capital investments and overall financial health.