INVESTMENTS IN LIMITED PARTNERSHIPS (Tables)

12 Months Ended

Oct. 02, 2021

Equity Method Investments and Joint Ventures [Abstract]

Financial Information Pertaining to Limited Partnership Investment

A corporation, owned by a member of our Board of Directors, acts as sole general partner of a limited partnership which has owned and operated a restaurant in Fort Lauderdale, Florida under our “Flanigan’s Seafood Bar and Grill” service mark since April 1, 1997. We have a 25% limited partnership interest in this limited partnership. 31.9% of the remaining limited partnership interest is owned by persons who are either our officers, directors or their family members. We have a franchise arrangement with this limited partnership. For accounting purposes, we do not consolidate the operations of this limited partnership into our operations. This entity is reported using the equity method in the accompanying consolidated financial statements. The following is a summary of unaudited financial information pertaining to our limited partnership investment in Fort Lauderdale, Florida:

	October 2, 2021		October 3, 2020
Financial Position:
Current Assets	$	624,000	$	591,000
Non-Current Assets		701,000		655,000
Total Assets		1,325,000		1,246,000
Current Liabilities		259,000		562,000
Non-Current Liabilities		-		-
Total Liabilities		259,000		562,000
Equity		1,066,000		684,000
		1,325,000		1,246,000
Operating Results:
Revenues		4,172,000		3,430,000
Gross profit		2,735,000		2,279,000
Net income		495,000		24,000