Do the Dermani Medspa financial statements include notes to the financial statements?
Dermani_Medspa Franchise · 2025 FDDAnswer from 2025 FDD Document
To the Member of dermani MEDSPA Franchising, LLC Windermere, Florida
Opinion
We have audited the accompanying financial statements of dermani MEDSPA Franchising, LLC, which comprise the balance sheet as of December 31, 2024, and the related statements of operations and changes in member's deficit and cash flows for the year then ended, and the related notes to the financial statements.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 66)
What This Means (2025 FDD)
According to Dermani Medspa's 2025 Franchise Disclosure Document, the financial statements are accompanied by notes. The Independent Auditor's Report for the years ending December 31, 2022, and December 31, 2024, explicitly states that the audit included "the related notes to the financial statements." These notes offer additional context and details about the financial figures presented in the statements.
The notes to the financial statements for Dermani Medspa include details such as the company's formation, business organization, and accounting policies. For example, the notes for December 31, 2024, are labeled "NOTE 1 - BUSINESS AND ORGANIZATION" and "NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES." These sections describe the company's origins, its conversion to a Florida LLC, and the acquisition of the dermani MEDSPA trademark. They also explain the accrual basis of accounting used and how management handles estimates and assumptions.
For a prospective Dermani Medspa franchisee, this indicates a higher level of transparency and detail in the financial reporting. The inclusion of these notes provides a more comprehensive understanding of the financial statements, allowing for a more informed investment decision. Reviewing these notes is essential to fully grasp the financial health and operational practices of Dermani Medspa Franchising, LLC.