Are the Card My Yard parent company financial statements attached to the FDD?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
Note 7 – Subsequent Event
Effective March 26, 2024, the Holding Company was acquired by FS PEP Holdco, LLC in exchange for equity interests in FS PEP Holdco, LLC. The sellers can earn additional cash consideration up to $5,605,000 if certain sales metrics are met within the 36-month period after closing.
FS PEP HOLDCO, LLC and SUBSIDIARIES
Consolidated Financial Statements As of December 31, 2024 and 2023 and For the Years Then Ended
Together with Independent Auditors' Report
Independent Auditors' Report
To the Board of Managers of FS PEP Holdco, LLC
Opinion
We have audited the accompanying consolidated financial statements of FS PEP Holdco, LLC and subsidiaries (collectively,the Company), which comprise the consolidated balance sheets as of December 31, 2024 and 2023, and the related consolidated statements of operations, members' equity, and cash flows for the years then ended, and the related notes to consolidated financialstatements.
Inour opinion,the consolidated financialstatementsreferred toabove presentfairly,in allmaterialrespects, the financial position of FSPEP Holdco, LLC and subsidiaries as of December 31, 2024 and 2023, and the results oftheir operations and their cash flows for the years then ended in accordance with accounting principles generally accepted in the UnitedStates of America.
Due to the March 2024 acquisition of an entity under common control, CMY Holdco, LLC (Note 2), the historical activity prior to the acquisition of CMY Holdco, LLC and its wholly-owne
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 84)
What This Means (2025 FDD)
According to the 2025 Card My Yard Franchise Disclosure Document, audited consolidated financial statements of FS PEP Holdco, LLC and subsidiaries are included. These statements comprise the consolidated balance sheets as of December 31, 2024 and 2023, along with the related consolidated statements of operations, members' equity, and cash flows for the years then ended, including related notes.
The financial statements, in the opinion of the auditors, present fairly the financial position of FS PEP Holdco, LLC and subsidiaries as of December 31, 2024 and 2023, and their operations and cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.
The inclusion of these audited financial statements provides prospective Card My Yard franchisees with insight into the financial health and stability of the parent company, FS PEP Holdco, LLC. The audit report also mentions the acquisition of CMY Holdco, LLC in March 2024, which includes Card My Yard Franchising, LLC, and notes that the historical activity prior to the acquisition has been retrospectively combined in the consolidated financial statements. The 2023 financial statements of Card My Yard Franchising, LLC, which reflect total assets of $10,040,671 and total revenues of $3,521,565, were audited by other auditors, whose report has been furnished.