Are there notes to the financial statements included for Aunt Millies Bakeries?

According to Aunt Millies Bakeries' 2025 Franchise Disclosure Document, the financial statements include related notes. Specifically, Exhibit I contains the audited consolidated balance sheets of Perfection Bakeries, Inc. as of September 30, 2024 and 2023, and September 30, 2023 and 2022, along with the related consolidated statements of income, comprehensive income, and cash flows for the years then ended. These financial statements also include related notes.

One example of a note included is NOTE 1, which summarizes significant accounting policies. This note describes the reporting entity as Perfection Bakeries, Inc., including its subsidiaries Perfection Distribution LLC, Perfection Associates LLC, and First Capital Acceptance Corporation. It also details the company's operations, such as producing and distributing bakery products throughout the Midwest and selling products nationally and internationally through its Bakehouse division. The note also mentions the elimination of intercompany balances and transactions in the consolidated financial statements and discusses marketable securities.

For a prospective franchisee, this means that the financial statements provided by Aunt Millie's Bakeries offer a detailed look at the company's financial performance and position, along with explanations of the accounting policies used to prepare those statements. Reviewing these notes is essential for understanding the figures presented in the balance sheets, income statements, and cash flow statements, and for assessing the overall financial health of Aunt Millie's Bakeries.