What were the total liabilities for Ledgers in 2024?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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 company's total liabilities in 2024 amounted to $978,945. This figure is composed of both current and non-current liabilities. Current liabilities, which are obligations due within a year, totaled $895,945. Non-current liabilities, representing longer-term obligations, totaled $83,000.
Understanding the breakdown of liabilities is crucial for prospective franchisees. Current liabilities include accounts payable ($15,010), accrued expenses ($4,755), amounts due to related parties ($852,180), and deferred revenue ($24,000). Non-current liabilities consist solely of deferred revenue ($83,000). This level of debt should be considered in relation to the company's assets and equity.
Ledgers' financial stability can be assessed by comparing its liabilities to its assets and equity. In 2024, total assets were $1,772,455, and total equity was $793,510. This indicates that liabilities make up a significant portion of the company's overall financial structure. Potential franchisees should analyze these figures to evaluate the financial risk associated with investing in a Ledgers franchise.