On what page of the Closet Storage Concepts FDD can I find the Balance Sheet?
Closet_Storage_Concepts Franchise · 2025 FDDAnswer from 2025 FDD Document
INDEPENDENT AUDITORS' REPORT
To the Shareholder Closets Unlimited of New Jersey, Inc. West Berlin, New Jersey
Opinion
We have audited the accompanying financial statements of Closets Unlimited of New Jersey, Inc. (a NJ corporation), which comprise the balance sheet as of December 31, 2023, and the related statements of operations, retained earnings, and cash flows for the year 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 Closets Unlimited of New Jersey, Inc. as of December 31, 2023, and the results of its operations and their cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Closets Unlimited of New Jersey, Inc. and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obt
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 59)
What This Means (2025 FDD)
According to Closet Storage Concepts' 2025 Franchise Disclosure Document, the balance sheet as of December 31, 2023, can be found on page 181. This is indicated by an included image showing a portion of the Independent Auditors' Report. The report references that the auditors have audited the financial statements of Closets Unlimited of New Jersey, Inc., which includes the balance sheet.
The report confirms that the financial statements fairly represent the financial position of Closets Unlimited of New Jersey, Inc. as of December 31, 2023, and the results of its operations and cash flows for the year then ended, in accordance with accounting principles generally accepted in the United States of America.
Prospective franchisees should review the balance sheet and related financial statements carefully to understand Closet Storage Concepts' financial health and stability. It is also important to consult with a financial advisor to fully understand the implications of the financial statements.