What were the total liabilities for Ledgers in 2022?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |||||
|---|---|---|---|---|---|---|---|
| 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 | 110,000 | ||||
| Total Current Liabilities | 895,945 | 856,165 | 546,126 | ||||
| Non-Current Liabilities: | |||||||
| Deferred revenue | 83,000 | 53,989 | 711,614 | ||||
| Total Non-Current Liabilities | 83,000 | 53,989 | 711,614 | ||||
| Total Liabilities | 978,945 | 910,154 | 1,257,740 |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, the company's total liabilities in 2022 were $1,257,740. This figure represents the sum of current and non-current liabilities the company had at the end of that fiscal year. Current liabilities, which are obligations due within one year, totaled $546,126, while non-current liabilities, those due beyond one year, amounted to $711,614.
Understanding the breakdown of liabilities is crucial for prospective franchisees. Current liabilities include accounts payable, accrued expenses, amounts due to related parties, and deferred revenue. Non-current liabilities primarily consist of deferred revenue. Monitoring these liabilities can provide insights into Ledgers' short-term and long-term financial obligations and stability.
For a potential franchisee, this information is useful for assessing the financial health and stability of Ledgers. A high level of liabilities compared to assets could indicate financial strain, while a manageable level suggests the company is handling its obligations effectively. Reviewing these figures over several years, as presented in the FDD, can reveal trends and provide a more comprehensive understanding of Ledgers' financial management.