BASSETT FURNITURE INDUSTRIES INC
For the period ended Nov 30, 2024. Filed Feb 10, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 10, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 16. FORM 10-K SUMMARY
None.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
BASSETT FURNITURE INDUSTRIES, INCORPORATED (Registrant)
| By: | /s/ Robert H. Spilman, Jr. | Date: February 10, 2025 |
|---|---|---|
| Robert H. Spilman, Jr. President and Chief Executive Officer Chairman of the Board of Directors |
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| By: | /s/ Emma S. Battle | Date: February 10, 2025 |
|---|---|---|
| Emma S. Battle Director | ||
| By: | /s/ John R. Belk | Date: February 10, 2025 |
| John R. Belk Director | ||
| By: | /s/ Kristina K. Cashman | Date: February 10, 2025 |
| Kristina K. Cashman Director | ||
| By: | /s/ Virginia W. Hamlet | Date: February 10, 2025 |
| Virginia W. Hamlet Director | ||
| By: | /s/ J. Walter McDowell | Date: February 10, 2025 |
| J. Walter McDowell Director | ||
| By: | /s/ William C. Wampler, Jr. | Date: February 10, 2025 |
| William C. Wampler, Jr. Director | ||
| By: | /s/ William C. Warden, Jr. | Date: February 10, 2025 |
| William C. Warden, Jr. Director, Lead Independent Director | ||
| By: | /s/ J. Michael Daniel | Date: February 10, 2025 |
| J. Michael Daniel Senior Vice President and Chief Financial Officer (Principal Financial and Accounting Officer) |
Bassett Furniture Industries, Incorporated
Schedule II
Analysis of Valuation and Qualifying Accounts
For the Years Ended November 30, 2024, November 25, 2023 and November 26, 2022
(amounts in thousands)
| Balance Beginning of Period · Additions Charged to Cost and Expenses · Deductions (1) · Other · Balance End of Period | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| For the Year Ended November 26, 2022: | ||||||||||
| Reserve deducted from assets to which it applies | ||||||||||
| Allowance for doubtful accounts | $567 | $761 | $(67) | $ | - | $1,261 | ||||
| Notes receivable valuation reserves | $359 | $ | - | $(359) | $ | - | $ | - | ||
| Income tax valuation allowance | $ | - | $1,339 | $ | - | $ | - | $1,339 | ||
| For the Year Ended November 25, 2023: | ||||||||||
| Reserve deducted from assets to which it applies | ||||||||||
| Allowance for doubtful accounts | $1,261 | $219 | $(945) | $ | - | $535 | ||||
| Income tax valuation allowance | $1,339 | $452 | $ | - | $ | - | $1,791 | |||
| For the Year Ended November 30, 2024: | ||||||||||
| Reserve deducted from assets to which it applies | ||||||||||
| Allowance for doubtful accounts | $535 | $624 | $(62) | $ | - | $1,097 | ||||
| Income tax valuation allowance | $1,791 | $473 | $ | - | $ | - | $2,264 | |||
(1) Deductions are for the purpose for which the reserve was created.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.