Do the Baya Bar financial statements include a balance sheet?
Baya_Bar Franchise · 2024 FDDAnswer from 2024 FDD Document
To the Members Baya Bar Franchise System, LLC Staten Island, New York
Report on the Audit of the Financial Statements
Opinion
We have audited the accompanying balance sheets of Baya Bar Franchise System, LLC as of December 31, 2023, and 2022 and the related statements of operations, members' equity and cash flows for the years ended December 31, 2023, 2022, and 2021, 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 Baya Bar Franchise System, LLC as of December 31, 2023, and 2022, and the results of their operations and their cash flows for the years ended December 31, 2023, 2022, and 2021, 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 Baya Bar's 2024 Franchise Disclosure Document, the financial statements include balance sheets. The Independent Auditor's Report states that the audit included the balance sheets of Baya Bar Franchise System, LLC as of December 31, 2023, and 2022.
In addition to the balance sheets, the audit also covered the related statements of operations, members' equity, and cash flows for the years ended December 31, 2023, 2022, and 2021. This comprehensive audit provides a detailed view of Baya Bar's financial performance and position over the three-year period.
The auditor's opinion indicates that the financial statements present fairly the financial position, results of operations, and cash flows of Baya Bar in accordance with accounting principles generally accepted in the United States of America. This opinion suggests a level of reliability and accuracy in the financial reporting, which is crucial for prospective franchisees evaluating the financial health of the franchise system.