Does the Best Brains financial statement for December 31, 2023, include a balance sheet?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the accompanying financial statements of Best Brains Inc (an Illinois corporation), which comprise the balance sheets as of December 31, 2023 and the related statements of income, retained earnings, and cash flows for the years then ended, 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 Best Brains Inc as of December 31, 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.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the financial statements include a balance sheet as of December 31, 2023. The financial statements also include the related statements of income, retained earnings, and cash flows for the years then ended, and the related notes to the financial statements.. These statements are audited by Anil Malhotra & Co. LTD, Certified Public Accountants.
An independent auditor's report confirms that the financial statements present fairly the financial position of Best Brains Inc. as of December 31, 2023. This includes 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.
Prospective franchisees should review these audited financial statements and notes carefully. Understanding Best Brains' financial position, including assets, liabilities, and equity, is crucial for assessing the financial health and stability of the company. This information can help potential franchisees make informed decisions about investing in a Best Brains franchise.