What was the total value of 'Total Current Liabilities' for Mr. Sandless as of February 28, 2025?
Mr_Sandless Franchise · 2025 FDDAnswer from 2025 FDD Document
Total Other Assets | 2,020.25 | | TOTAL ASSETS | 271,991.04 | | LIABILITIES & EQUITY | | | Liabilities | | | Current Liabilities | | | Accounts Payable | 851.57 | | 2100 · Accounts Payable | | | Total Accounts Payable | 851.57 |
7:52 PM Mr. Sandless Franchise LLC 04/15/25 Balance Sheet
Accrual Basis As of February 28, 2025
| Feb 28, 25 | |
|---|---|
| Other Current Liabilities | |
| 2151 · 3B Quaint Oak Bank | -0.33 |
| 2200 · Accrued expenses | 1,115.00 |
| 2301 · Payroll withholdings & accruals | |
| 2303 · Local taxes withheld | 4,342.71 |
| 2304 · PA IT Withheld | -0.08 |
| 2305 · PA SUI W/H & Accrued | -0.15 |
| 2306 · Payroll Liabilities - Fed'l | -0.04 |
| 2301 · Payroll withholdings & accruals - Other | -13,416.35 |
| Total 2301 · Payroll withholdings & accruals | -9,073.91 |
| 2400 · Deferred Revenue - Long Term | 234,000.00 |
| 2410 · Deferred Revenue Short Term | 57,000.00 |
| 2500 · Loan by Share Holder | 46,797.25 |
| 2501 · Auto Loan | 0.05 |
| Total Other Current Liabilities | 329,838.06 |
| Total Current Liabilities | 330,689.63 |
| Total Liabilities | 330,689.63 |
| Equity |
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 41–42)
What This Means (2025 FDD)
According to Mr. Sandless's 2025 Franchise Disclosure Document, the total current liabilities as of February 28, 2025, amounted to $330,689.63. This figure represents the sum of various short-term financial obligations of Mr. Sandless, including accrued expenses, payroll withholdings, deferred revenue, and a loan by a shareholder. These liabilities are expected to be settled within one year.
For a prospective Mr. Sandless franchisee, understanding the franchisor's current liabilities is crucial for assessing the financial health and stability of the company. A high level of current liabilities relative to current assets could indicate potential liquidity issues, which might affect the franchisor's ability to support its franchisees. Conversely, a manageable level of current liabilities suggests that the franchisor is in a good position to meet its short-term obligations and invest in the growth of the franchise system.
It's important to note that these financial statements are unaudited, as indicated in the FDD. Therefore, prospective franchisees should exercise caution and consider seeking professional financial advice to thoroughly evaluate the franchisor's financial condition. They may also want to compare these figures with previous years to identify any trends or significant changes in the company's liabilities. Furthermore, understanding the nature of each liability component can provide additional insights into the franchisor's financial management practices.