Does Aira Fitness provide audited balance sheets in the FDD?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
924 W. 75th Street Suite 120 - 189 Naperville, IL 60565 +1 (815) 348-2421 omar@napercpa.com
INDEPENDENT ACCOUNTANT AUDIT REPORT
To the Management of AIRA FITNESS FRANCHISING LLC
Opinion
We have audited the financial statements of AIRA FITNESS FRANCHISING LLC (the "Company"), which comprise the Balance Sheet as of December 31, 2024 & December 31, 2023 & December 31, 2022, the related Profit & Loss Statements, the related Statements of Cashflows, the related Statements of Shareholders' Equity, and the related notes for the twelve-month periods then ended. (collectively referred to as the "financial statements").
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2024 & December 31, 2023 & December 31, 2022, and the results of its operations and its cash flows for the twelve-month periods then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Source: Item 21 — **FINANCIAL STATEMENTS (FDD pages 58–59)
What This Means (2025 FDD)
Yes, the 2025 Aira Fitness FDD includes audited balance sheets. Specifically, the FDD contains an independent accountant's audit report that covers the balance sheets, profit and loss statements, statements of cash flows, statements of shareholders' equity, and related notes for the twelve-month periods ending on December 31, 2024, December 31, 2023, and December 31, 2022.
The audit report expresses the opinion that the financial statements of Aira Fitness Franchising LLC present fairly, in all material respects, the company's financial position as of the specified dates. The audit was conducted in accordance with auditing standards generally accepted in the United States of America (GAAS). This indicates that a qualified independent accountant has examined Aira Fitness's financial records and believes they are presented accurately.
Furthermore, the FDD includes actual balance sheets for December 31, 2024, December 31, 2023 and December 31, 2022. Notes to the financial statements include information about income taxes, commitments and contingencies, concentrations of risk, and subsequent events. For example, Aira Fitness intends to elect to be an S-Corporation for tax purposes, and as of December 31, 2024, has not reported any lawsuits or known plans of litigation against the company.