What was the value of Body Brain Center's accounts payable in 2023?
Body_Brain_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
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, 2023 and 2022, and the related statement of income and changes in member's equity, and cash flows for the year then ended, and 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, 2023 and 2022, 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. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America and for the design, implementation and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events considered in the aggregate that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the financial statements are available to be issued.
Source: Item 23 — RECEIPT (FDD pages 43–178)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the specific value of Body Brain Center's accounts payable for 2023 is not explicitly detailed. While the document includes financial statements and notes from December 31, 2023, it does not isolate the 'accounts payable' figure.
Item 23 includes the company's balance sheet as of December 31, 2023, along with related financial statements and notes. These documents are audited by an independent auditor, and their report is included. The notes cover significant accounting policies, related party transactions, commitments, and contingencies. However, the specific 'accounts payable' value is not broken out.
A prospective Body Brain Center franchisee should request a detailed breakdown of the company's 2023 financial statements, specifically asking for the 'accounts payable' figure. Understanding this liability is crucial for assessing the company's short-term financial obligations and overall financial health. This information would provide a clearer picture of the company's financial stability and its ability to meet its current liabilities.