table_specific

What is the total amount of 'Total current liabilities' for Lees Famous Recipe's LFRC Springfield?

Lees_Famous_Recipe Franchise · 2025 FDD

Answer from 2025 FDD Document

6 | | 2,178,723 | | 42,571 | | 7,517,573 | _ | 4,420,959 | | (18,747,522) | | | | Total equity | _ | 11,056,425 | 4,587,696 | | 2,178,723 | | 42,571 | | 9,308,898 | | 4,420,959 | | (20,538,847) | | 11,056,425 | | Total Liabilities and Equity | $ | 36,871,221 | $ 4,731,250 | $ | 2,181,723 | $ | 42,571 | $ | 13,571,829 | $ | 11,108,958 | $ | (20,538,847) | $ | 47,968,705 |

ARTEMIS RESTAURANT CORP. LEE'S 4-WALL, LLC CONSOLIDATING BALANCE SHEETS DECEMBER 31, 2023

LFRC Ocala LFRC Lima LFRC Springfield LFRC Mt. Sterling LFRC Ft. Wayne LFRC Sanford Elimination L ee's 4-Wall, LLC Total
Current Assets: 1 0
Cash and cash equivalents $ 50,831 42,679 $ 120,602 $ 61,546 $ 53,538 $ (182) $ - $ 329,014
Proprietary product sales and allowances receivable 11,785 14,880 31,640 8,548 17,309 443 - 84,605
Other receivables - - - - - - - -
Intercompany amounts 17,554 (3,974) (41,770) - (39,330) (2,625) - (70,145)
Inventory 38,396 37,895 105,021 26,754 66,983 11,069 - 286,118
Prepaid expenses 6,812 - - 2,888 (76) - - 9,624
Other current assets 1,511,799 1,762,721 2,197,211 1,070,067 1,248,176 66,524 - 7,856,498
Total current assets 1,637,177 1,854,201 2,412,704 1,169,803 _ 1,346,600 75,229 - 8,495,714
Property and Equipment, net 120,969 686,315 804,878 _ 91,987 _ 411,137 3,613 - 2,118,899
Other Assets:
Right of use assets, operating 1,963,159 1,532,459 4,786,508 - - - - 8,282,126
Goodwill, net 1,702,084 - 507,211 1,566,634 69,033 274,448 - 4,119,410
Other long term assets - - - 20,000 - - - 20,000
Total other assets 3,665,243 1,532,459 _ 5,293,719 1,586,634 _ 69,033 274,448 - _ 12,421,536
Total Assets $ 5,423,389 $ L 4,072,975 IABILITIES $ ANI 8,511,301 D EQUITY $ 2,848,424 $ 1,826,770 353,290 $ - $ 23,036,149
Current Liabilities:
Accounts payable $ 172,437 $ 92,591 $ 511,244 $ 111,992 $ 224,309 $ 48,327 $ - $ 1,160,900
Accrued payroll and compensated absences 25,413 18,925 56,965 18,729 33,284 7,453 - 160,769
Taxes payable 29,800 3,507 17,686 41,879 50,935 7,714 - 151,521
Current portion of operating lease liabilities 23,435 30,506 39,008 - - - - 92,949
Current portion of deferred revenue 9,577 (11,891) - - - - (2,314)
Total current liabilities 251,085 155,106 613,012 172,600 308,528 63,494 - 1,563,825
Long-Term Liabilities:
Operating lease liabilities, less current portion 1,969,154 1,530,490 _ 4,805,520 _ - _ - 8,305,164
Total liabilities 2,220,239 1,685,596 5,418,532 172,600 _ 308,528 63,494 - 9,868,989
Equity:
Additional paid-in capital - 12,000 - - - - -

Source: Item 21 — FINANCIAL STATEMENTS (FDD page 69)

What This Means (2025 FDD)

According to Lees Famous Recipe's 2025 Franchise Disclosure Document, LFRC Springfield's total current liabilities are detailed in the financial statements. As of the provided data, the total current liabilities for LFRC Springfield are $613,012.

This figure represents the sum of various short-term financial obligations of the LFRC Springfield entity, including accounts payable, accrued payroll, taxes payable, the current portion of operating lease liabilities, and the current portion of deferred revenue. These liabilities are expected to be settled within one year, reflecting the immediate financial obligations of the business unit.

For a prospective Lees Famous Recipe franchisee, understanding the current liabilities of company-owned stores like LFRC Springfield provides insight into the short-term financial health and obligations of similar restaurant operations. It's important to note that these figures are specific to this location and may not be representative of all franchise locations. Franchisees should also consider that the liabilities of company-owned stores may differ from those of franchised locations due to variations in operational structure and financial management.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.
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