What was the total amount of Kitchen Solvers' total current assets in 2023?
Kitchen_Solvers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Balance Sheets | ||||||
|---|---|---|---|---|---|---|
| December 31, 2024, 2023, and 2022 | ||||||
| Assets | 2024 | 2023 | 2022 | |||
| Current assets: | ||||||
| Cash | $ 409,936 | $ 192,541 | $ 60,708 | |||
| Accounts receivable | 63,672 | 138,673 | 140,562 | |||
| Accounts receivable - related party | 174,152 | - | - | |||
| Contract assets - Current | 138,404 | 118,404 | 98,129 | |||
| Advances receivable | - | - | 74,472 | |||
| Other receivable | - | - | 3,260 | |||
| Inventory | 28,642 | 14,106 | - | |||
| Prepaid expenses | 2,277 | 2,293 | - | |||
| Total current assets | 817,083 | 466,017 | 377,131 |
Source: Item 23 — Receipts (FDD pages 49–190)
What This Means (2025 FDD)
According to Kitchen Solvers' 2025 Franchise Disclosure Document, the company's total current assets in 2023 amounted to $466,017. This figure represents the sum of Kitchen Solvers' liquid assets and those that can be converted into cash within a year. These assets include cash, accounts receivable, contract assets, and prepaid expenses.
Understanding the composition and value of current assets is crucial for prospective franchisees. It provides insights into Kitchen Solvers' short-term financial health and its ability to meet immediate obligations. A higher value of current assets relative to current liabilities generally indicates a stronger liquidity position.
It is important to note that while the FDD provides this snapshot, potential franchisees should conduct their own due diligence. This includes analyzing Kitchen Solvers' balance sheets over several years to identify trends and consulting with financial advisors to assess the company's financial stability and future prospects. This will help in making an informed decision about investing in a Kitchen Solvers franchise.