Where can I find the audited financial statements for Chocolate Bash Franchising LLC?
Chocolate_Bash Franchise · 2024 FDDAnswer from 2024 FDD Document
se agreement but are not yet operating in our system:
| 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 financial statements from 12/31/2023, 12/31/2022 and 12/31/2021. Our fiscal | |
| year end is December 31. |
List of Terminated Franchisees
The following is a list of the franchisees who have had an unit terminated, cancelled, transferred, not renewed or otherwise voluntarily or involuntarily ceased to do business under a franchise agreement during the most recently completed fiscal year or who have not communicated with Franchisor within 10 weeks of the application date:
None.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 38)
What This Means (2024 FDD)
According to Chocolate Bash's 2024 Franchise Disclosure Document, the audited financial statements can be found in Exhibit D. Because Chocolate Bash has not been in business for at least three years, the FDD does not include all financial statements required by the Franchise Rule of the Federal Trade Commission. The financial statements included in Exhibit D are audited and cover the periods ending December 31, 2023, December 31, 2022, and December 31, 2021. The fiscal year end for Chocolate Bash is December 31.
The financial statements include several key documents. These are the Independent Accountant Audit Report, the Profit & Loss Statement, the Balance Sheet, the Statement of Cashflows, the Statement of Shareholders' Equity, and the Notes to Accompanied Financial Statements. These statements provide a detailed overview of Chocolate Bash's financial performance and position over the past three years.
The Independent Accountant Audit Report expresses the opinion of the auditor regarding the fairness of the presentation of Chocolate Bash's financial position, results of operations, and cash flows in accordance with accounting principles generally accepted in the United States of America. The audit was conducted in accordance with auditing standards generally accepted in the United States of America (GAAS). The auditor's responsibilities include assessing the risks of material misstatement of the financial statements and evaluating the appropriateness of accounting policies used by management.