What was the total expenditure on website development for Kidokinetics in the financial year ending before the date of the FDD?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
3, 2022, and 2021:
| Franchise system development | $ | 108,370 | $ | 108,370 | $ | 108,370 |
|---|---|---|---|---|---|---|
| Internal-use software | 68,200 | 68,200 | 39,200 | |||
| Website | 8,000 184,570 | 8,000 184,570 | 8,000 155,570 | |||
| Less: accumulated amortization | (159,463) | (134,017) | (112,016) | |||
| $ | 25,107 | $ | 50 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics' 2024 Franchise Disclosure Document, the expenditure on website development for the financial year ending December 31, 2023, was $8,000. The FDD also provides figures for website development costs for the years ending December 31, 2022, and December 31, 2021, which were also $8,000.
These figures are part of a larger category that includes franchise system development and internal-use software. For the year ending December 31, 2023, the total expenditure for franchise system development was $108,370 and for internal-use software was $68,200.
It is important to note that these figures do not represent the net value of these assets, as accumulated amortization is deducted. As of December 31, 2023, the accumulated amortization was $159,463, resulting in a net value of $25,107 for these assets.