What were the total assets for Ledgers in 2024?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
doubt about Loyalty Business Services, LLC's ability to continue as a going concern for a reasonable period of time.
We are required to 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 |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, the company's total assets in 2024 were $1,772,455. This figure represents the sum of Ledgers' current and non-current assets for that year. For comparison, the FDD also shows that Ledgers' total assets were $2,065,655 in 2023 and $2,962,127 in 2022.
Understanding a franchisor's asset values can be important for prospective franchisees. Total assets can be an indicator of the company's financial stability and its capacity to meet its obligations. A significant decrease in total assets from one year to the next, as seen with Ledgers from 2022 to 2024, might warrant further investigation by a potential franchisee.
It is important to note that while asset values provide a snapshot of the company's financial position, they should be considered alongside other financial metrics such as liabilities, equity, revenues, and expenses. A comprehensive review of Ledgers' financial statements, including the notes, is essential for a thorough understanding of the company's financial health. Prospective franchisees should consult with a financial advisor to fully assess the implications of Ledgers' financial performance.
In addition to total assets, the FDD provides a breakdown of Ledgers' assets into current and non-current categories. Current assets, which are expected to be converted into cash within one year, totaled $427,275 in 2024. Non-current assets, which have a longer-term value, totaled $1,345,180 in the same year. This breakdown can provide further insights into the composition and liquidity of Ledgers' assets.