Are there any disclaimers related to the financial statements of COUNTRY VISIONS in the Apricot Lane FDD?
Apricot_Lane Franchise · 2025 FDDAnswer from 2025 FDD Document
Certified Public Accountants & Business Consultants
INDEPENDENT AUDITORS' REPORT
To the Board of Directors and Stockholders Country Visions, Inc. Fairfield, CA
Opinion
We have audited the accompanying financial statements of Country Visions, Inc. (the Company), which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of income, changes in stockholders' equity, and cash flows for the year then ended, and the related notes to the financial statements.
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended 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 (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.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for one year after the date that the financial statements are issued.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 51)
What This Means (2025 FDD)
According to Apricot Lane's 2025 Franchise Disclosure Document, the financial statements of Country Visions, Inc. for the years 2024 and 2023 have been audited by certified public accountants. The Independent Auditors' Report states that the financial statements present fairly, in all material respects, the financial position of the company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
The report also outlines the responsibilities of both the management and the auditors in relation to these financial statements. Management is responsible for the preparation and fair presentation of the financial statements, including the implementation and maintenance of internal controls. They are also required to evaluate the company's ability to continue as a going concern for one year after the statements are issued.
The auditors conducted their audits in accordance with auditing standards generally accepted in the United States of America (GAAS), ensuring they remained independent and met ethical responsibilities. They believe the audit evidence obtained is sufficient and appropriate to provide a basis for their audit opinion. This comprehensive audit process aims to provide stakeholders with confidence in the accuracy and reliability of the financial information presented.