What years do the C12 Group financial statements cover?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
eg)
Member of the AICPA & TXCPA.
Registered with Public Company Accounting Oversight Board.
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.
Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States of America. 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 the financial statements that are free from material misstatement, whether due to fraud or error.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 46)
What This Means (2025 FDD)
According to the 2025 C12 Group Franchise Disclosure Document, the audited financial statements include data for multiple years. Specifically, there are balance sheets as of December 31, 2024 and 2023, and related statements of operations, changes in members' equity, and cash flows for the years then ended. This provides a two-year view of the company's financial performance.
Additionally, the 2025 FDD includes consolidated balance sheets as of December 31, 2022 and 2021, and the related consolidated statements of operations and members' capital, and cash flows for the years then ended. This provides another two-year view of the company's financial performance.
Furthermore, the financial statements of The C12 Group, LLC, as of and for the year ended December 31, 2023 were audited by other auditors, whose report dated March 15, 2023, expressed an unmodified opinion on those statements. 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.
Prospective franchisees should carefully examine these financial statements and consult with a financial advisor to understand C12 Group's financial health and trends. Understanding the company's past performance can help in assessing the potential risks and rewards of investing in a C12 Group franchise.