On what date were the Burros Fries financial statements issued?
Burros_Fries Franchise · 2024 FDDAnswer from 2024 FDD Document
ration
43460 Ridge Park Drive, Suite 220 Temecula, CA 92590
To the Shareholder of Burros & Fries Franchise, Inc. 4536 Bonita Rd. Bonita, CA 91902
We hereby consent to the use of our Independent Auditor's Report dated June 22, 2022, relating to the financial statements of Burros & Fries Franchise, Inc. for the period ending December 31, 2021, with the Franchise Disclosure Document which was issued by Burros & Fries Franchise, Inc. (Franchisor) on June 30, 2022, or as it may be amended, and with the Burros & Fries Franchise, Inc. Franchise Renewal Application.
andhomum Asociates CPAS
Temecula, CA June 30, 2022
Prudhomme Associates CPAs
A Professional Corporation
43460 Ridge Park Drive, Suite 220 Temecula, CA 92590
INDEPENDENT AUDITOR'S REPORT
To the Stockholders' of Burros & Fries Franchise, Inc. Bonita, California
Opinion
We have audited the financial statements of Burros & Fries Franchise, Inc., which comprise the balance sheet as of December 31, 2021, and the related statement of operations and retained earnings and of cash flows for the year then ended, and the related notes to the financial statements.
In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of Burros & Fries Franchise, Inc. as of December 31, 2021 and the results of its operations and cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audit in accordance 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 Burros & Fries Franchise, Inc. and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2024 FDD)
According to Burros Fries' 2024 Franchise Disclosure Document, the financial statements have multiple issuance dates depending on the period they cover. The Independent Auditor's Report for the financial statements for the period ending December 31, 2021, is dated June 22, 2022. The Independent Auditor's Report for the financial statements for the period ending December 31, 2022, is dated December 26, 2023. The Independent Auditor's Report for the financial statements for the period ending December 31, 2023, is dated November 4, 2024.
In addition to the audited financial statements, Burros Fries includes unaudited financials in their FDD. The unaudited financial statements as of October 31, 2024, are dated November 4, 2024. However, these unaudited statements are explicitly intended "For Management Use Only" and were not subjected to an audit, review, or compilation engagement.
Prospective franchisees should note that the FDD includes multiple sets of financial statements covering different periods, each with its own issuance date. The audited statements provide a higher level of assurance due to the independent audit, while the unaudited statements offer more current, though less verified, financial information. Franchisees should carefully review all financial statements and their corresponding dates to understand the financial performance of Burros Fries over time.