Where can I find the Dermani Medspa financial statements within the FDD?
Dermani_Medspa Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 23: RECEIPTS]
INDEPENDENT AUDITOR'S REPORT
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.
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of dermani MEDSPA Franchising, LLC as of December 31, 2024, and the results of its operations and its 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 (GAAS). 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 dermani MEDSPA Franchising, LLC 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 obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America. This includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about dermani MEDSPA Franchising, LLC's ability to continue as a going concern for one year after the date that the financial statements are available to be issued.
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 can be found in Item 23, titled "Receipts." Item 23 includes the independent auditor's reports and the financial statements of Dermani Medspa Franchising, LLC. These statements comprise the balance sheets, statements of operations, changes in member's deficit, and cash flows, along with related notes.
The independent auditor's reports in Item 23 offer an opinion on whether the financial statements present fairly the financial position, results of operations, and cash flows of Dermani Medspa Franchising, LLC, in accordance with accounting principles generally accepted in the United States of America. These reports are prepared by independent auditors who conduct their audits in accordance with auditing standards generally accepted in the United States of America (GAAS).
The financial statements include notes that provide additional information and explanations about the company's business and organization, significant accounting policies, and other relevant financial details. For example, the notes describe the company's formation, its planned operations (franchising Dermani Medspa centers offering various aesthetic services), and the number of franchise centers in operation as of the balance sheet date. The notes also detail the basis of presentation for the financial statements, the use of estimates and assumptions in their preparation, and policies related to cash, cash equivalents, and restricted cash.
Prospective franchisees should carefully review these financial statements and the accompanying notes to understand Dermani Medspa's financial performance and position. Understanding the auditor's opinion and the details within the financial statements can help potential franchisees assess the financial health and stability of the franchisor.