What is the exception to the number of years of financial statements required for Body Brain Center appraisal?
Body_Brain_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
nses expense | 2,930 | 3,113 | | | Telephone expense | 2,584 | 1,742 | | | Travel expense | - | 31 | | | Utilities | 1,110 | 1,057 | | | Wages | 125,792 | 143,171 | | | Workshop expense | 704 | 179 | | | Total Operating Expenses | 463,738 | $ 520,908 | |
Financial Statements
Years Ended December 31, 2022 and 2021 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 (an Arizona limited liability company and wholly owned subsidiary of Body & Brain Yoga and Health Centers, Inc.), which comprise the balance sheets as of December 31, 2022 and 2021, and the related statement of income, changes in member's equity, and cash flows for the years then ended, and the related notes to the financial statements.
Source: Item 23 — RECEIPT (FDD pages 43–178)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the independent auditor's report for Body and Brain Center, LLC includes financial statements for two years. Specifically, the report includes balance sheets as of December 31, 2022 and 2021, and the related statements of income, changes in member's equity, and cash flows for the years then ended. A subsequent report includes the balance sheets as of December 31, 2023 and 2022, and the related statement of income and changes in member's equity, and cash flows for the year then ended.
These financial statements are prepared in accordance with accounting principles generally accepted in the United States of America. The auditor's responsibility is to provide an opinion on whether these financial statements present fairly the financial position, results of operations, and cash flows of Body and Brain Center, LLC.
The management of Body and Brain Center is responsible for the preparation and fair presentation of these financial statements, including the design, implementation, and maintenance of internal controls. They must also evaluate whether there are conditions or events that raise substantial doubt about the company's ability to continue as a going concern within one year after the financial statements are issued. This evaluation is crucial for potential franchisees to understand the financial stability and operational risks associated with the franchise.