For the Chatime balance sheets provided, what years are being compared?
Chatime Franchise · 2025 FDDAnswer from 2025 FDD Document
To the Member Chatime Franchise LLC
Opinion
We have audited the accompanying financial statements of Chatime Franchise LLC (a limited liability company) which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of operations and member's equity (deficit) 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 Chatime Franchise 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.
Source: Item 23 — Receipts (FDD pages 58–262)
What This Means (2025 FDD)
According to Chatime's 2025 Franchise Disclosure Document, the balance sheets being compared are for December 31, 2024, and December 31, 2023. This allows for a year-over-year comparison of Chatime's financial position.
Specifically, the independent auditor's report states that the financial statements audited include balance sheets as of these dates. This indicates that the audit firm, Citrin Cooperman, has reviewed and provided an opinion on the fairness of Chatime's financial presentation for these two years.
Furthermore, the document explicitly states "CHATIME FRANCHISE LLC (A Limited Liability Company) BALANCE SHEETS DECEMBER 31, 2024 AND 2023". This confirms that the financial data presented covers these two specific years, enabling stakeholders to assess changes in Chatime's assets, liabilities, and equity over that period.