What was the total value of Mr. Sandless's total assets at the end of 2022?
Mr_Sandless Franchise · 2025 FDDAnswer from 2025 FDD Document
vernance 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.
Monis Siddiqui, CPA P.C.
Bellerose, NY April 28, 2023
MR. SANDLESS FRANCHISE, LLC BALANCE SHEETS
| ASSETS | ||
|---|---|---|
| YEARS ENDED DECEMBER 31 | ||
| 2022 | 2021 | |
| Current Assets | ||
| Cash | $ 8,760 | $ 17,509 |
| Accounts receivable | 45,783 | 47,364 |
| Inventory | 11,865 | — |
| Prepaid expenses | — | 5,410 |
| Due from related party | 82,500 | 110,000 |
| Total Current Assets | 148,908 | 180,283 |
| Property and Equipment-net | 7,290 | 19,944 |
| Security deposit | 2,000 | 2,000 |
| Total Assets | $ 158,198 | $ 202,227 |
| LIABILITIES AND MEMBERS' (DEFICIT) | ||
| Current Liabilities | ||
| Accounts payable and accrued exp |
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 41–42)
What This Means (2025 FDD)
According to Mr. Sandless's 2025 Franchise Disclosure Document, the company's total assets at the end of 2022 were valued at $158,198. This figure represents the sum of Mr. Sandless's current assets, property and equipment (net), and security deposits as of December 31, 2022.
Specifically, the current assets included cash ($8,760), accounts receivable ($45,783), inventory ($11,865), and due from related party ($82,500). Additionally, the property and equipment, net of depreciation, was valued at $7,290, and the security deposit was $2,000. These individual components, when combined, constitute the total asset value reported by Mr. Sandless for the fiscal year 2022.
It is important to note that these financial statements were audited by an independent certified public accountant, as indicated in Item 21 of the FDD. Prospective franchisees should review these figures carefully to understand Mr. Sandless's financial position and stability when making their investment decision.