As of what date are the Big Apple Bagels balance sheets presented?
Big_Apple_Bagels Franchise · 2025 FDDAnswer from 2025 FDD Document
Board of Directors BAB Systems, Inc. Deerfield, Illinois
INDEPENDENT AUDITORS' REPORT
Opinion
We have audited the accompanying financial statements of BAB Systems, Inc., (a wholly owned subsidiary of BAB, Inc.), which comprise the balance sheets as of November 30, 2024 and 2023, and the related statements of income and retained earnings, and cash flows for the years ended November 30, 2024, 2023, 2022, 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 BAB Systems, Inc as of November 30, 2024 and 2023, and the results of its operations and its cash flows for the years ended November 30, 2024, 2023, and 2022, in accordance with accounting principles generally accepted in the United States of America.
Source: Item 22 — CONTRACTS (FDD pages 86–87)
What This Means (2025 FDD)
According to Big Apple Bagels' 2025 Franchise Disclosure Document, the balance sheets for BAB Systems, Inc., a wholly-owned subsidiary of BAB, Inc., are presented as of November 30, 2024, and November 30, 2023. These balance sheets are part of a larger set of financial statements that also include statements of income and retained earnings, and cash flows for the years ended November 30, 2024, 2023, and 2022.
The financial statements have been audited by independent auditors, who have issued an opinion stating that the statements fairly present the financial position of BAB Systems, Inc. as of the specified dates and the results of its operations and cash flows for the years mentioned, in accordance with accounting principles generally accepted in the United States of America.
Prospective franchisees should review these balance sheets and related financial statements carefully to understand the financial health and performance of BAB Systems, Inc. This information can provide insights into the franchisor's stability and its ability to support franchisees. It is also important to note the auditor's responsibilities and opinion, which provide an additional level of assurance regarding the accuracy and reliability of the financial information.