Where can I find the Consolidating Balance Sheet within the C12 Group's financial documents?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
Our audit was conducted for the purpose of forming an opinion on the financial statements as a whole. The consolidating balance sheet, consolidating statement of operations and members' capital, and the condensed consolidated statements of operations and members' capital on pages 11 through 13, respectively, are presented for purposes of additional analysis and is not a required part of the consolidated financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements. The information for the year ended December 31, 2022 has been subjected to the auditing procedures applied in the audit of the 2021 consolidated financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information for the year ended December 31, 2022 is fairly stated in all material respects in relation to the 2022 consolidated financial statements as a whole. The comparative information for the years ended December 31, 2018 through 2021 has been derived from The C12 Group, LLC's 2018 through 2021 financial statements of which an unmodified opinion was expressed on those financial statements.
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to the 2025 FDD, the consolidating balance sheet, consolidating statement of operations and members' capital, and the condensed consolidated statements of operations and members' capital can be found on pages 11 through 13. These are presented for additional analysis and are not a required part of the consolidated financial statements. The information for the year ended December 31, 2022, has been subjected to auditing procedures. The comparative information for the years ended December 31, 2018, through 2021 has been derived from The C12 Group, LLC's 2018 through 2021 financial statements of which an unmodified opinion was expressed on those financial statements.
It's important to note that while these consolidating financial statements are audited, they are considered supplementary information and not a required part of the core consolidated financial statements. Prospective franchisees should focus on both the consolidated balance sheets and the consolidating balance sheets to gain a comprehensive understanding of C12 Group's financial health. Understanding the distinction between 'consolidated' and 'consolidating' statements is crucial; the former presents the overall financial position, while the latter provides a more detailed breakdown.
For a prospective franchisee, reviewing these statements can offer insights into the financial performance and stability of C12 Group. While the FDD references specific pages for these statements, it is important to verify the actual page numbers in the specific FDD provided, as page numbers can vary between different versions or printings of the document. Additionally, comparing the audited information for 2022 with the comparative data from 2018-2021 can reveal trends and patterns in C12 Group's financial performance over time.