Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 264

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 2
Chunk 264
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 for promotional allowances, including contractual pricing and rebate arrangements with customers and historical allowance data, which were compared to source documents, and performed sensitivity analysis over key inputs and significant assumptions.

    ●
    Testing the accuracy, completeness, validity of the underlying data used in schedules calculating the reserve for promotional allowances.

    ●
    Considered transactions submitted by customers subsequent to year end.

    ●
    Review of applicable disclosures. 

We have served as the Company’s auditor
since 2009.

    /s/ Baker Tilly US, LLP

    Irvine, California

    January 29, 2025

 25 

BRIDGFORD FOODS CORPORATION 

CONSOLIDATED BALANCE SHEETS 

As of November 1, 2024, and November
3, 2023 

(in thousands, except share and per share amounts)

    November 1, 2024  
    November 3, 2023 
  
    ASSETS 

    Current assets: 

    Cash and cash equivalents 
    $10,230  
    $15,708 
  
    Accounts receivable, less allowance for doubtful accounts of $110 and $248, respectively, and promotional allowances of $2,399 and $2,093, respectively 
     30,404  
     28,593 
  
    Inventories, net 
     33,338  
     40,573 
  
    Refundable income taxes 
     3,408  
     2,168 
  
    Prepaid expenses and other current assets 
     609  
     435 
  
    Total current assets 
     77,989  
     87,477 

    Property, plant and equipment, net of accumulated depreciation and amortization of $77,160 and $73,397, respectively 
     64,634  
     67,487 
  
    Other non-current assets 
     14,731  
     12,034 
  
    Total assets 
    $157,354  
    $166,998 

    LIABILITIES AND SHAREHOLDERS’ EQUITY 

    Current liabilities: 

    Accounts payable 
    $5,672  
    $7,201 
  
    Accrued payroll, advertising, and other expenses 
     6,323  
     6,404 
  
    Income taxes payable 
     274  
     256