As of what date are the audited financial statements for Engineering For Kids International, LLC?
Engineering_For_Kids Franchise · 2025 FDDAnswer from 2025 FDD Document
Exhibit E to this disclosure document contains the following financial statements: the audited financial statements for Engineering for Kids International, LLC as of December 31, 2022, December 31, 2023 and December 31, 2024. Our fiscal year end is December 31.
We have audited the accompanying financial statements of Engineering for Kids International, LLC which comprise the balance sheet as of December 31, 2024, and the related statements of operations, member's equity, and cash flows for the year then ended, and the related notes to the financial statements.
The financial statements of Engineering for Kids International, LLC as of December 31, 2023 and 2022 were audited by other auditors whose reports dated May 17, 2024 and June 20, 2023 expressed an unmodified opinion on those statements.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 52–53)
What This Means (2025 FDD)
According to Engineering For Kids's 2025 Franchise Disclosure Document, the audited financial statements included are for the years ending December 31, 2022, December 31, 2023, and December 31, 2024. The audit report expresses an opinion on the financial position of Engineering For Kids International, LLC as of December 31, 2024, and the results of its operations and cash flows for the year then ended.
It's important to note that while the financial statements are as of December 31, 2024, the independent auditor's report is dated later. The prior period financial statements as of December 31, 2023 and 2022 were audited by other auditors whose reports were dated May 17, 2024 and June 20, 2023.
Prospective franchisees should carefully review these financial statements and the accompanying notes to understand Engineering For Kids's financial performance, including its revenues, expenses, assets, liabilities, and cash flows. Understanding the franchisor's financial health is crucial for assessing the stability and potential risks associated with investing in an Engineering For Kids franchise. Additionally, prospective franchisees may want to consult with a financial advisor to discuss the implications of these financial statements.