For what year are the audited financial statements for Bang Cookies provided?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
We have audited the accompanying financial statements of Bang Cookies Franchise, LLC (the Company), which comprise the balance sheet as of December 31, 2023 and the related statements of operations, members' equity, and cash flows for the period from January 19, 2023 to December 31, 2023 and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Bang Cookies Franchise, LLC as of December 31, 2023 and the results of its operations and its cash flows for the period from January 19, 2023 to December 31, 2023, in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 55–56)
What This Means (2024 FDD)
According to Bang Cookies's 2024 Franchise Disclosure Document, the audited financial statements are for the period from January 19, 2023, to December 31, 2023. The balance sheet reflects the company's financial position as of December 31, 2023, and includes statements of operations, members' equity, and cash flows for the specified period.
These financial statements offer insights into Bang Cookies's financial performance and stability during its initial period of offering franchise opportunities. Prospective franchisees can review these statements to assess the company's revenue, expenses, assets, and liabilities. The auditor's report provides an independent opinion on the fairness of the financial statements, offering a level of assurance to potential investors.
The financial statements and related notes include information about the company's formation, accounting policies, and tax status. Bang Cookies Franchise, LLC was formed on January 19, 2023, under the laws of the State of New Jersey, with the purpose of offering franchise opportunities. The company's parent is Bang Cookies Corporation, established on August 10, 2017. As a limited liability company, Bang Cookies's accounts are included in the tax return of its members, with taxes assessed and paid at the individual member level.