What is the date of the auditor's report for Annex Brands?
Annex_Brands Franchise · 2025 FDDAnswer from 2025 FDD Document
To the Board of Directors Annex Brands, Inc. San Diego, California
Opinion
We have audited the accompanying consolidated financial statements of Annex Brands, Inc. and Subsidiary (together, the "Company"), which comprise the consolidated balance sheets as of September 30, 2024 and 2023, and the related consolidated statements of income, shareholders' equity, and cash flows for the years ended September 30, 2024, 2023, and 2022, and the related notes to the financial statements
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Annex Brands, Inc. and Subsidiary as of September 30, 2024 and 2023, and the results of their operations and their cash flows for the years ended September 30, 2024, 2023, and 2022, in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — Financial Statements (FDD page 109)
What This Means (2025 FDD)
According to Annex Brands' 2025 Franchise Disclosure Document, the auditor's report is addressed to the Board of Directors of Annex Brands, Inc. in San Diego, California. The report includes consolidated balance sheets as of September 30, 2024, and 2023, along with consolidated statements of income, shareholders' equity, and cash flows for the years ended September 30, 2024, 2023, and 2022.
The auditor, Lavine, Lofgren, Morris & Engelberg, LLP, conducted the audit in accordance with generally accepted auditing standards. Their opinion states that the financial statements present fairly the financial position of Annex Brands, Inc. and its subsidiary as of September 30, 2024, and 2023, and the results of their operations and cash flows for the years ending September 30, 2024, 2023, and 2022, aligning with accounting principles generally accepted in the United States of America.
The auditor's report provides assurance that the financial statements are free from material misstatement. It is important for prospective franchisees to review these audited financial statements and the auditor's opinion to understand the financial health and stability of Annex Brands. This information can help in assessing the risks and potential rewards associated with investing in an Annex Brands franchise.