What was the change in deposits for Better Blend in the year ended December 31, 2023?
Better_Blend Franchise · 2024 FDDAnswer from 2024 FDD Document
T AUDITOR'S REPORT
Board of Members of Better Blend Franchising, LLC
Opinion
We have audited the financial statements of Better Blend Franchising, LLC (the "Company"), which comprise the balance sheet as of December 31, 2023, the related statements of operations, member's deficit, and cash flows for the year then ended, and the related notes to the financial statements.
In our opinion, the accompanying financial statements presents fairly, in all material respects, the financial position of the Company as of December 31, 2023, and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statement section of our report.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 43)
What This Means (2024 FDD)
Based on the 2024 Franchise Disclosure Document, the change in deposits for Better Blend cannot be determined from the provided excerpts. While the document includes financial statements and notes, it does not specifically list deposit amounts for either December 31, 2022, or December 31, 2023. The FDD includes the company's balance sheet as of December 31, 2023, the related statements of operations, member's deficit, and cash flows for the year then ended, and the related notes to the financial statements. Also included is the balance sheet as of December 31, 2022. However, a line item for 'deposits' is not present in either balance sheet.
Without specific figures for deposits at the beginning and end of the year, it's impossible to calculate the change. The financial statements do provide details on revenue, expenses, and deferred revenue, but these do not provide the information requested about deposits.
A prospective Better Blend franchisee should ask the franchisor for clarification on the beginning and ending deposit balances for the year ended December 31, 2023. Understanding the movement in deposit accounts can provide insights into the company's cash management and financial health.