SOCC, INC. dba SEVEN OAKS COUNTRY CLUB
STATEMENTS OF FINANCIAL POSITION December 31, 2022 and 2021
2022
2021
ASSETS
Current Assets Cash and cash equivalents
$
1,913,070
$
1,847,212
Accounts receivable, net of allowance for doubtful accounts 2022 $17,168; 2021 $7,219 Employee Retention Credit receivable (Note 1)
1,090,975
505,765
600,488 18,250 244,104 211,991
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Membership fees receivables
11,750 178,889 134,376
Inventories (Note 3) Prepaid expenses
Total current assets
4,078,878
2,677,992
Property and Equipment, including assets acquired under capital lease (Notes 4, 5, 6 and 7)
14,375,591
14,141,439
Other Assets Investment in captive insurance company
137,718
137,718
$ 18,592,187
$ 16,957,149
LIABILITIES AND NET ASSETS
Current Liabilities Current maturities of long-term debt (Note 6)
$
12,950 160,611 311,377 431,757 665,823 255,453
$
1,063
Current portion of obligations under capital lease (Note 7)
150,205 203,443 341,842 587,408 182,715
Accounts payable Accrued expenses
Employee Retention Credit payable (Note 1)
Deferred revenue
Total current liabilities
1,837,971
1,466,676
Long-term Liabilities Long-term debt, less current maturities (Note 6)
485,987 344,112 830,099
498,937 151,946 650,883
Obligations under capital lease, less current portion (Note 7)
Commitments and Contingencies (Note 10)
Net Assets Without donor restrictions (Note 9)
15,924,117
14,839,590
$ 18,592,187
$ 16,957,149
See Notes to Financial Statements.
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