What is the date of the audited opening balance sheet for Care Plus Medical Ucc?
Care_Plus_Medical_Ucc Franchise · 2024 FDDAnswer from 2024 FDD Document
| We have not been in business for three years or more, and therefore cannot include | |
|---|---|
| all financial statements required by the Franchise Rule of the Federal Trade Commission. | |
| Exhibit D contains our audited opening balance sheet dated December 31, 2023. Our fiscal year | |
| end is December 31. |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 41)
What This Means (2024 FDD)
According to Care Plus Medical Ucc's 2024 Franchise Disclosure Document, the audited opening balance sheet is dated December 31, 2023. This balance sheet is included as Exhibit D in the FDD. Because Care Plus Medical Ucc has not been in business for at least three years, they are not able to include all financial statements typically required by the FTC's Franchise Rule.
The balance sheet provides a snapshot of Care Plus Medical Ucc's financial position as of that specific date. It includes information about the company's assets, liabilities, and equity. The inclusion of an independent accountant's audit report indicates that the financial statements have been reviewed by an independent accounting professional, adding a level of assurance to their accuracy.
Prospective franchisees should carefully review the balance sheet and the accompanying notes to understand Care Plus Medical Ucc's financial health and stability. This information can help them assess the franchisor's ability to support its franchisees and fulfill its obligations under the franchise agreement. It is important to note that the balance sheet only reflects the company's financial position at a single point in time and may not be indicative of future performance.