As of what date are the Bombs Away financial statements?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
ised units now under Franchisor control that Franchisor is selling:
None.
Item 21 FINANCIAL STATEMENTS
We have not been in business for three years or more, and therefore cannot include all financial statements required by the Franchise Rule of the Federal Trade Commission. Exhibit C contains our audited financial statements dated December 31, 2023 and opening balance sheet dated December 31, 2022. Our fiscal year end is December 31
EXHIBIT C
FINANCIAL STATEMENTS
BOMBS AWAY FRANCHISING LLC
Financial Statements For The Year Ended December 31, 2023
TOGETHER WITH INDEPENDENT ACCOUNTANT AUDIT REPORT
TABLE OF CONTENTS
| Description | Page |
|---|---|
| Independent Accountant Audi |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 35)
What This Means (2024 FDD)
According to Bombs Away's 2024 Franchise Disclosure Document, the financial statements include a balance sheet as of December 31, 2023, and an opening balance sheet dated December 31, 2022. The audit report for the 2023 financial statements was completed as of February 8, 2024.
Specifically, the independent accountant's audit report states that they audited the financial statements of Bombs Away Franchising LLC, which include the balance sheet as of December 31, 2023, along with related financial statements for the twelve-month period then ended. This means the financial data presented reflects the company's financial position at the close of the 2023 calendar year.
Furthermore, management evaluated subsequent events through February 8, 2024, indicating that they considered events occurring after the balance sheet date (December 31, 2023) up to this evaluation date. They determined that none of these subsequent events would substantially affect the amounts and disclosures in the financial statements. This date represents when the financial statements were available to be issued.