Are balance sheets included in Anago's financial statements?
Anago Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the consolidated financial statements of Anago Cleaning Systems, Inc. and Subsidiaries and its subsidiaries, which comprise the consolidated balance sheets as of December 31, 2024, 2023, and 2022, and the related consolidated statements of operations, changes in stockholders' equity, and cash flows for the years then ended, and the related notes to the consolidated financial statements.
We may request that You prepare and submit an annual balance sheet and income statement, within 90 days of the end of the fiscal year prepared in accordance with Generally Accepted Accounting Principles. Each annual statement must be accompanied by an unqualified review opinion from an independent certified public accountant acceptable to Us, and must be signed by You or by Your Treasurer or Chief Financial Officer attesting that the financial statements are correct and fairly present Your financial position at and for the times indicated.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 62)
What This Means (2025 FDD)
According to Anago's 2025 Franchise Disclosure Document, the company's financial statements include consolidated balance sheets. The independent auditor's report confirms that the audit encompassed the consolidated balance sheets as of December 31, 2024, 2023, and 2022. These balance sheets are part of a larger set of financial statements that also include statements of operations, changes in stockholders' equity, and cash flows for the same years, along with related notes.
This inclusion of balance sheets in Anago's audited financial statements is a standard practice, providing a snapshot of the company's assets, liabilities, and equity at the end of each of the past three fiscal years. This allows prospective franchisees to assess Anago's financial health and stability over time. The auditor's opinion indicates that these financial statements fairly represent Anago's financial position in accordance with accounting principles generally accepted in the United States of America.
Furthermore, Anago may request that franchisees prepare and submit an annual balance sheet and income statement within 90 days of the end of the fiscal year. These statements must adhere to Generally Accepted Accounting Principles and be accompanied by an unqualified review opinion from an independent certified public accountant. This requirement ensures that Anago has access to franchisees' financial information for monitoring and compliance purposes.