What years are covered by the audited Balance Sheets for Crab N Spice Group?
Crab_N_Spice Franchise · 2024 FDDAnswer from 2024 FDD Document
We have audited the financial statements of CRAB N SPICE GROUP (the "Company"), which comprise the Balance Sheet as of December 31, 2023 & December 31, 2022 & December 31, 2021, the related Profit & Loss Statements, the related Statements of Cashflows, the related Statements of Shareholders' Equity, and the related notes for the twelve-month periods then ended. (collectively referred to as the "financial statements").
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2023 & December 31, 2022 & December 31, 2021, and the results of its operations and its cash flows for the twelve-month periods then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 40–50)
What This Means (2024 FDD)
According to Crab N Spice's 2024 Franchise Disclosure Document, the audited balance sheets provided cover the years ending December 31, 2023, December 31, 2022, and December 31, 2021. This means that prospective franchisees can review Crab N Spice's financial performance over the past three years to identify trends and assess the company's financial health.
The inclusion of three years of audited financial statements is a standard practice in franchising, allowing potential franchisees to evaluate the franchisor's financial stability and performance over time. These statements include the Balance Sheet, Profit & Loss Statements, Statements of Cashflows, and Statements of Shareholders' Equity, providing a comprehensive view of Crab N Spice's financial standing.
By examining these financial statements, a potential Crab N Spice franchisee can gain insights into the company's assets, liabilities, equity, revenues, expenses, and cash flows. This information can be used to assess the franchisor's profitability, liquidity, and solvency, which are all important factors to consider before investing in a franchise. Reviewing these statements can help a prospective franchisee make an informed decision about whether to invest in a Crab N Spice franchise.