Do the C12 Group financial statements include a balance sheet?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
INDEPENDENT AUDITOR'S REPORT
To the Board of Directors The C12 Group, LLC San Antonio, Texas
Opinion
We have audited the accompanying financial statements of The C12 Group, LLC (the Company), which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of operations, changes in members' equity, and cash flows for the years then ended, and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of The C12 Group, 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 accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 46)
What This Means (2025 FDD)
According to the 2025 C12 Group Franchise Disclosure Document, the financial statements include a balance sheet. Specifically, the independent auditor's report indicates that the audit encompassed the balance sheets for the years December 31, 2024 and 2023. This suggests that a balance sheet is a standard component of C12 Group's financial reporting.
Additionally, the 2023 financial statements were audited by another auditor, and their report, dated March 15, 2023, expressed an unmodified opinion on those statements, which included a balance sheet as of December 31, 2023. This confirms the consistent inclusion of a balance sheet in C12 Group's financial reporting across different audit periods and auditors.
The inclusion of a balance sheet is a fundamental aspect of financial statement presentation, providing a snapshot of C12 Group's assets, liabilities, and equity at a specific point in time. Prospective franchisees can review these balance sheets to gain insights into the company's financial health, liquidity, and solvency. This information is crucial for assessing the financial stability of C12 Group before investing in a franchise.