On what date was the audit report for Body Brain Center issued?
Body_Brain_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
se agreements but were not yet opened as of December 31, 2024.
EXHIBIT "K"
TO DISCLOSURE DOCUMENT
FINANCIAL STATEMENTS
[See Attached]
Financial Statements
For the Year Ended December 31, 2024 and 2023 with Independent Auditors' Report
ABC CPAs
3435 WILSHIRE BLVD. SUITE 600 LOS ANGELES, CA 90010
3435 Wilshire Blvd. Suite 600 Los Angeles, CA 90010 T +1 213 738 6000 F +1 213 738 6062
INDEPENDENT AUDITORS' REPORT
To the Members BODY AND BRAIN CENTER, LLC
Opinion
We have audited the financial statements of Body and Brain Center, LLC (the "Company") (an Arizona limited liability company and wholly owned subsidiary of Body & Brain Yoga and Health Centers, Inc.), which comprise the balance sheet as of December 31, 2024 and 2023, and the related statement of income, changes in member's equity, and cash flows for the years then ended, as well as the related notes to the financial statements. In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of Body and Brain Center, LLC as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended in accordance with accounts 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 Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit.
Source: Item 23 — RECEIPT (FDD pages 43–178)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the audit report for Body Brain Center, LLC does not contain a specific issue date. The report includes the financial statements for the years ended December 31, 2023 and 2022, and it is prepared by ABC CPAs. The report addresses the responsibilities of both the management and the auditor in relation to the financial statements.
Specifically, the report outlines management's responsibility for preparing and fairly presenting the financial statements in accordance with accounting principles generally accepted in the United States of America. It also details the auditor's responsibility to express an opinion on these financial statements based on their audit. The audit is conducted in accordance with auditing standards generally accepted in the United States of America.
Prospective franchisees should note that while the audit report confirms the financial position of Body Brain Center for the stated years, the absence of a specific issue date means it's important to confirm with Body Brain Center the exact timeframe during which the audit was completed. This information can be crucial for assessing the timeliness and relevance of the financial data presented. Contacting the franchisor directly for clarification on the audit report's timing would be a prudent step in the due diligence process.