What years do the audited financial statements for Card My Yard cover?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
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-owned subsidiary, Card my Yard Franchising, LLC, have been retrospectively combined in the consolidated fi
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 84)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, the consolidated financial statements of FS PEP Holdco, LLC and subsidiaries, which include Card My Yard Franchising, LLC, have been audited for the years ending December 31, 2024, and December 31, 2023. The audit includes the consolidated balance sheets, statements of operations, members' equity, and cash flows for these years.
It is important to note that the 2023 financial statements of Card My Yard Franchising, LLC, specifically, were audited by other auditors. The FDD states that these statements reflect total assets of $10,040,671 and total revenues of $3,521,565. The primary auditors' opinion on the 2023 figures for Card My Yard Franchising, LLC is based solely on the report from these other auditors.
This information is crucial for prospective franchisees as it provides a glimpse into the financial health and performance of Card My Yard over the past two years. Reviewing these audited statements can help potential franchisees assess the stability and profitability of the franchise system. It is advisable to carefully examine the independent auditor's report and the notes to the consolidated financial statements for a comprehensive understanding of Card My Yard's financial position.