Are Alloy's financial statements audited?
Alloy Franchise · 2025 FDDAnswer from 2025 FDD Document
INDEPENDENT AUDITOR'S REPORT
To the Members Alloy Personal Training, LLC
Opinion
We have audited the accompanying financial statements of Alloy Personal Training, LLC (a limited liability company), which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of operations and members' deficit and cash flows for each of the years in the threeyear period ended December 31, 2024, and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Alloy Personal Training, LLC as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2024, in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States of America. 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 Alloy Personal Training, LLC 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 page 69)
What This Means (2025 FDD)
Yes, Alloy's financial statements are audited. According to the 2025 Franchise Disclosure Document, the financial statements of Alloy Personal Training, LLC, which include balance sheets as of December 31, 2024 and 2023, and statements of operations, members' deficit, and cash flows for the three-year period ending December 31, 2024, have been audited.
The Independent Auditor's Report states that the audit was conducted in accordance with auditing standards generally accepted in the United States of America. The auditor's opinion is that the financial statements present fairly the financial position of Alloy as of December 31, 2024 and 2023, and the results of its operations and cash flows for the three years ending December 31, 2024, in accordance with accounting principles generally accepted in the United States of America.
The auditor's responsibilities include obtaining reasonable assurance about whether the financial statements are free from material misstatement, whether due to fraud or error, and issuing an auditor's report that includes their opinion. They also exercise professional judgment, assess risks of material misstatement, and evaluate the appropriateness of accounting policies used by Alloy's management. This audit provides a level of confidence in the accuracy and reliability of the financial information presented by Alloy.