Where can I find the audited financial statements of GoTo Systems, the parent company of Auntie Annes?
Auntie_Annes Franchise · 2024 FDDAnswer from 2024 FDD Document
Attached as Exhibit A to this Disclosure Document are the audited financial statements of GoTo Systems, our parent company, which include the consolidated balance sheets as of December 31, 2023 and December 25, 2022 and the related consolidated statements of operations, changes in member's equity, and cash flows for the fiscal years ended December 31, 2023, December 25, 2022, and December 26, 2021. GoTo Systems guarantees the performance of our obligations under the Franchise Agreement. A copy of the guaranty of GoTo Systems is attached as Exhibit A.
As reflected in Item 1, GoTo Foods will be providing required support and services to franchisees under a management agreement with us. Attached as Exhibit A are the audited financial statements of GoTo Foods as of and for the fiscal years December 31, 2023 and December 25, 2022. These financial statements are being provided for disclosure purposes only. GoTo Foods is not a party to the Franchise Agreement or other agreement we sign with franchisees nor does it guarantee our obligations under the Franchise Agreement or other agreements we sign with franchisees.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 105–106)
What This Means (2024 FDD)
According to Auntie Annes's 2024 Franchise Disclosure Document, the audited financial statements of GoTo Systems, the parent company, are attached as Exhibit A to the Disclosure Document. These statements include consolidated balance sheets as of December 31, 2023, and December 25, 2022, along with related consolidated statements of operations, changes in member's equity, and cash flows for the fiscal years ended December 31, 2023, December 25, 2022, and December 26, 2021.
Because GoTo Systems guarantees Auntie Annes's obligations under the Franchise Agreement, its financial health is directly relevant to prospective franchisees. The inclusion of these audited statements allows franchisees to assess the financial stability of the guarantor. A copy of the guaranty of GoTo Systems is also attached as Exhibit A.
Additionally, the FDD includes audited financial statements of GoTo Foods as of and for the fiscal years December 31, 2023, and December 25, 2022, also attached as Exhibit A. These statements are provided for disclosure purposes only, as GoTo Foods provides support and services to franchisees under a management agreement but is not a party to the Franchise Agreement and does not guarantee obligations under it.