As of what date is the Consolidated Balance Sheet presented for Carbones Pizzeria?
Carbones_Pizzeria Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the accompanying consolidated financial statements of M &T Pizza Incorporated and Subsidiaries (the "Company") (a Minnesota Corporation), which comprise the consolidated balance sheet as of October 31, 2023, and the related consolidated statements of operations, changes in stockholder's equity, and cash flows for the year then ended, and the related notes to consolidated financial statements.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of the Company as of October 31, 2023, and the results of its operations and cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 22 — CONTRACTS (FDD page 30)
What This Means (2025 FDD)
According to Carbones Pizzeria's 2025 Franchise Disclosure Document, the consolidated balance sheet is presented as of October 31, 2023. The independent auditor's report confirms that the audit encompasses the consolidated balance sheet as of this date, along with related financial statements for the year then ended. This date is important because it reflects the company's financial position at the close of its fiscal year.
For a prospective franchisee, this means the financial data provided reflects Carbones Pizzeria's financial health up to that specific point in time. Understanding the balance sheet as of October 31, 2023, is crucial for assessing the company's assets, liabilities, and equity. This information helps potential franchisees evaluate the financial stability and performance of Carbones Pizzeria before making an investment decision.
The auditor's opinion indicates that the consolidated financial statements present fairly the financial position of Carbones Pizzeria as of October 31, 2023, in accordance with accounting principles generally accepted in the United States of America. This provides a level of assurance regarding the reliability of the financial information presented. Franchisees should review these statements and notes carefully to understand the underlying financial assumptions and policies used in their preparation.