What was the amount of accounts payable for Ledgers in 2022?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
o communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
Bernard Robinson & Company, I.S.P.
Raleigh, North Carolina April 28, 2025
${\bf LOYALTY; BUSINESS; SERVICES,; LLC; (FORMERLY; FIDE; HOLDING,; LLC)}$
Balance Sheets
December 31, 2024, 2023 and 2022
| 2 | Assets | ||||||
|---|---|---|---|---|---|---|---|
| 2024 | 2023 | 2022 | |||||
| Current Assets: | S | ||||||
| Cash and cash equivalents | $ 424,085 | $ 181,077 | $ 264,411 | ||||
| Royalty receivables | 3,190 | 3,302 | - | ||||
| Notes receivable, current | 40,760 | 229,901 | |||||
| Total Current Assets | 427,275 | 225,139 | 494,312 | ||||
| Non-Current Assets: | |||||||
| Notes receivable, less current portion | = | 634,000 | |||||
| Due from related parties | 630,180 | 1,229,516 | 1,320,815 | ||||
| Deferred tax asset | 715,000 | 611,000 | 513,000 | ||||
| Total Non-Current Assets | 1,345,180 | 1,840,516 | 2,467,815 | ||||
| Total Assets | $ 1,772,455 | $ 2,065,655 | $ 2,962,127 | ||||
| Liabilities and Members' Equity | |||||||
| Current Liabilities: | |||||||
| Accounts payable | $ 15,010 | $ 15,010 | $ 125,974 | ||||
| Accrued expenses | 4,755 | 9,975 | 5,152 | ||||
| Due to related parties | 852,180 | 737,180 | 305,000 | ||||
| Deferred revenue - current | 24,000 | 94,000 |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, the accounts payable for 2022 was $125,974. This figure represents the company's short-term liabilities or obligations to its creditors. It is the amount Ledgers owed to its suppliers and other parties for goods and services received but not yet paid for as of the end of 2022.
Accounts payable is a crucial metric for assessing a company's financial health. A high accounts payable balance could indicate that Ledgers is taking advantage of favorable credit terms from its suppliers, effectively using their money to finance its operations in the short term. However, it could also signal potential cash flow problems if the company struggles to meet its payment obligations.
In addition to the overall accounts payable, the FDD also provides a breakdown of specific accounts payable to related parties. For example, Ledgers owed Zoomin Groomin $150,000 and ATAX, LLC $155,000 in 2022. Reviewing these specific payables can give a prospective franchisee insight into the nature of Ledgers' relationships with other entities and the types of transactions it engages in.
Prospective franchisees should analyze these figures in conjunction with other financial data in the FDD, such as revenue, expenses, and cash flow, to gain a comprehensive understanding of Ledgers' financial position and its ability to manage its short-term liabilities. It is also advisable to compare these figures to industry benchmarks to assess whether Ledgers' accounts payable levels are within a reasonable range for similar businesses.