What was the total value of Learningrx's current assets in 2022?
Learningrx Franchise · 2025 FDDAnswer from 2025 FDD Document
planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
Springfield, Missouri
January 3, 2024
LearningRx Franchise Corporation Balance Sheets As of September 30, 2023 and 2022
Assets
| 2023 | 2022 | |
|---|---|---|
| Current Assets | ||
| Cash and cash equivalents Accounts receivable, net of allowance of | $ 551,641 | $ 534,941 |
| $23,629 in 2023 and $46,075 in 2022 | 243,535 | 246,972 |
| Prepaid expenses | 1,635 | |
| Deferred income tax asset | 19,663 | 24,158 |
| Total Current Assets | 814,839 | 807,706 |
| Property and Equipment | ||
| Equipment and software, net | 2,432 | 3,289 |
| Net Property and Equipment | 2,432 | 3,289 |
| Other Noncurrent Assets | ||
| Deferred income taxes | 155,827 | 162,723 |
| Right-of-use assets | 220,053 | 289,858 |
| Net Other Noncurrent Assets | 375,880 | 452,581 |
| Total Assets | $ 1,193,151 | $ 1,263,576 |
| Liabilities And Stockhol | lders' Equity | |
| Current Liabilities | ||
| Accounts payable | 5,871 | • |
| Liability for marketing and development funds | 144,019 | 129,692 |
| Deferred franchise fee revenue | 28,000 | |
| Current portion of lease liability | 66,452 | 69,805 |
| Total Current Liabilities | 216,342 | 227,497 |
| Long-term lease liability | 153,601 | 220,053 |
| Total Liabilities | 369,94 |
Source: Item 23 — RECEIPT (FDD pages 54–209)
What This Means (2025 FDD)
According to Learningrx's 2025 Franchise Disclosure Document, the company's total current assets in 2022 were $807,706. This figure represents the sum of Learningrx's cash and cash equivalents, accounts receivable (net of allowance), prepaid expenses, and deferred income tax asset for that year.
For a prospective franchisee, understanding the franchisor's asset position can provide insights into the financial health and stability of the company. Current assets are particularly important as they reflect resources that can be readily converted into cash within a year. A strong current asset position suggests that Learningrx has sufficient liquidity to meet its short-term obligations and invest in future growth.
It's also useful to compare Learningrx's current assets to its current liabilities, which totaled $227,497 in 2022. This comparison gives an indication of Learningrx's working capital and its ability to cover its short-term debts with its short-term assets. A healthy ratio of current assets to current liabilities is generally seen as a positive sign of financial stability.
While the FDD provides this snapshot of Learningrx's financials, a prospective franchisee should also consider other factors such as the company's revenue trends, profitability, and overall debt levels. Consulting with a financial advisor can help in assessing the financial risks and opportunities associated with investing in a Learningrx franchise.