Does the Engineering For Kids FDD include financial statements?
Engineering_For_Kids Franchise · 2025 FDDAnswer from 2025 FDD Document
| | | Virginia | | | | | 804-548-3828 | | |
If you buy this franchise, your contact information may be disclosed to other buyers when you leave the franchise system.
EXHIBIT E FINANCIAL STATEMENTS
ENGINEERING FOR KIDS INTERNATIONAL, LLC REPORT ON FINANCIAL STATEMENTS YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022
TABLE OF CONTENTS
| INDEPENDENT AUDITOR'S REPORT | 1-2 |
|---|---|
| FINANCIAL STATEMENTS | |
| Balance SheetsStatements of Operations | |
| Statements of Member's Equity | 5 |
| Statements of Cash Flows | 6 |
| Notes to the Financial Statements | 7-10 |
INDEPENDENT AUDITOR'S REPORT
To the Member of Engineering for Kids International, LLC
Opinion
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.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Engineering for Kids International, 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. 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 Engineering for Kids International, LLC and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
Yes, the 2025 Engineering For Kids Franchise Disclosure Document includes financial statements. Exhibit E of the FDD is specifically dedicated to the financial statements. The exhibit includes the Engineering For Kids International, LLC Report on Financial Statements for the years ended December 31, 2024, 2023, and 2022.
Furthermore, the FDD includes an independent auditor's report that expresses an opinion on the financial statements of Engineering for Kids International, LLC. The report covers 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, along with related notes. The auditor's opinion states that the financial statements present fairly the financial position, results of operations, and cash flows of Engineering For Kids International, LLC in accordance with accounting principles generally accepted in the United States of America.
In addition to the auditor's opinion, the FDD also outlines management's responsibilities for the financial statements, including the preparation and fair presentation of the statements in accordance with accounting principles generally accepted in the United States of America. Management is also responsible for evaluating whether there are conditions or events that raise substantial doubt about Engineering for Kids International, LLC's ability to continue as a going concern within one year after the date the financial statements are available to be issued. The FDD also includes statements of cash flows and statements of operations for the years ended December 31, 2024, 2023 and 2022.