What were the total liabilities for Ledgers in 2023?
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 2023 amounted to $910,154. This figure represents the sum of all current and non-current liabilities the company had at the end of that fiscal year.
Specifically, Ledgers' current liabilities in 2023 totaled $856,165, comprising accounts payable ($15,010), accrued expenses ($9,975), amounts due to related parties ($737,180), and deferred revenue ($94,000). The non-current liabilities totaled $53,989, consisting solely of deferred revenue.
Understanding the liabilities of a franchisor like Ledgers is crucial for potential franchisees. It provides insight into the company's financial obligations and overall financial health. A high level of liabilities could indicate financial strain, while a lower level might suggest greater stability. Prospective franchisees should analyze these figures in conjunction with assets and equity to assess the franchisor's financial position comprehensively.