table_specific

What was the total value of Kitchen Solvers' note payable to shareholder as of December 31, 2022?

Kitchen_Solvers Franchise · 2025 FDD

Answer 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
Property and equipment:
Equipment and fixtures 34,201 34,201 34,201
Technology equipment and software 109,640 109,640 109,640
Machinery and equipment 86,429 73,253 -
Vehicles 6,500 - -
Leasehold improvements 33,841 - -
Totals 270,611 217,094 143,841
Less - Accumulated depreciation ( 156,768) ( 145,888) ( 139,333)
Net property and equipment 113,843 71,206 4,508
Other assets:
Territory held for sale 12,798 12,798 12,798
Contract assets 787,811 746,214 659,193
Right of use asset - Operating leases 13,203 53,324 63,586
Goodwill 366,651 366,651 366,651
Total other assets 1,180,463 1,178,987 1,102,228
TOTAL ASSETS Liabilities and Members' Equity $ 2,111,389 $ 1,716,210 $ 1,483,867
Current liabilities:
Accounts payable $ 53,515 $ 21,944 $ 60,760
Accrued and other liabilities 25,258 7,452 7,452
Note payable - Shareholder 4,378 1,923 18,049
Current portion of long-term note payable 19,940 18,523 -
Deferred revenue 88,310 76,042 -
Contract liabilities - Current 257,082 210,682 193,047
Operating lease liability - Current 13,578 39,479 30,861
Total current liabilities 462,061 376,045 310,169

Source: Item 23 — Receipts (FDD pages 49–190)

What This Means (2025 FDD)

According to Kitchen Solvers' 2025 Franchise Disclosure Document, the note payable to shareholder as of December 31, 2022, was $18,049. This liability represents an amount Kitchen Solvers owed to its shareholder(s) at that specific point in time.

For a prospective franchisee, this figure provides insight into the company's financial obligations to its shareholders. A higher note payable could indicate a greater reliance on shareholder financing, while a lower amount might suggest stronger independent financial health. It is important to note that this is a snapshot in time, and the amount can fluctuate based on Kitchen Solvers' financial activities.

It's also worth noting that the note payable to shareholder is classified as a current liability, meaning it is due within one year. This implies that Kitchen Solvers was obligated to settle this debt relatively quickly. Reviewing the trend of this liability over the years (2023 and 2024 are also provided) can give a better understanding of how Kitchen Solvers manages its debts to shareholders. A potential franchisee should consider this information in the context of the overall financial health of the company.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.
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