Does Ella Cafe provide audited balance sheets as of December 31, 2023 and 2022?

According to Ella Cafe's 2024 Franchise Disclosure Document, the company does include audited balance sheets as of December 31, 2023, and 2022. These audited balance sheets are part of the financial statements provided in Exhibit F of the FDD. Additionally, the FDD includes related statements of operations, changes in stockholders' equity, and cash flows for the years then-ended. Ella Cafe's fiscal year ends on December 31st.

For a prospective franchisee, the inclusion of audited balance sheets for the past two fiscal years is a positive sign. Audited financial statements provide a higher level of assurance regarding the accuracy and reliability of the financial information presented. This allows potential franchisees to make more informed decisions about investing in an Ella Cafe franchise. They can review the company's financial performance and stability over the past two years, which can help them assess the potential risks and rewards of the franchise opportunity.

It's important to note that while the FDD includes audited balance sheets, it also contains an unaudited balance sheet as of June 30, 2024, and a profit and loss statement from January 1, 2024, to June 30, 2024. The FDD explicitly states that these financial statements have been prepared without an audit. Prospective franchisees should be aware of this distinction and consider the implications of relying on unaudited financial information.

Overall, the inclusion of audited balance sheets for 2023 and 2022 in Ella Cafe's 2024 FDD provides valuable financial information for potential franchisees. However, it's crucial to carefully review all the financial statements, including the unaudited ones, and to seek professional advice if needed to fully understand the financial health and performance of the company.