What was the amount of accrued payroll taxes for Pearce Bespoke in 2022?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
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Wexford, Pennsylvania
May 24 2024
PEARCE BESPOKE FRANCHISING, LLC BALANCE SHEETS
ASSETS
| As of December 31, | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Current Assets: Cash Accounts receivable Deferred consulting fee | $ | 170,147 22,188 71,458 | $ | 46,811 - 2,500 |
| Total Current Assets | 263,793 | 49,311 | ||
| Deposits | 2,198 | - | ||
| Deferred Consulting Fee | 619,728 | 22,500 | ||
| Right-of-Use Asset - Operating Lease | 43,692 | - | ||
| Total Assets | $ | 929,411 | $ | 71,811 |
| LIABILITIES AND MEMBERS' EQUITY (DEFICIENCY) | ||||
| Current Liabilities: Accounts payable Related party payables Accrued payroll and payroll taxes Deferred franchise fee revenue Operating lease liability - current | $ | 80,525 692 23,621 129,693 22,822 | $ | 7,591 - 5,339 5,100 - |
| Total Current Liabilities | 257,353 | 18,030 | ||
| Deferred Franchise Fee Revenue | 1,123,022 | 45,900 | ||
| Operating Lease Liability, net | 21,020 | - | ||
| Total Liabilitie |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 39)
What This Means (2025 FDD)
According to Pearce Bespoke's 2025 Franchise Disclosure Document, the accrued payroll and payroll taxes for the company as of December 31, 2022, was $5,339. This figure is part of the current liabilities reported on the balance sheet. It represents the amount of payroll taxes that Pearce Bespoke had incurred but not yet paid to the relevant tax authorities at the end of the year.
For a prospective franchisee, understanding the franchisor's financial health is crucial. Reviewing the accrued payroll taxes can offer insights into how Pearce Bespoke manages its financial obligations. A significant increase in accrued payroll taxes from one year to the next might indicate potential cash flow issues or changes in payment practices.
It's important to note that this figure reflects the franchisor's financial position, not the franchisee's. However, the franchisor's financial stability can indirectly impact franchisees. Franchisees should consult with a financial advisor to fully understand the implications of these figures and how they relate to the overall franchise opportunity.