Does the Engineering For Kids Franchise Disclosure Document include financial statements?
Engineering_For_Kids Franchise · 2025 FDDAnswer from 2025 FDD Document
| receive service of process for it in the particular state. | Engineering for Kids International, LLC authorizes the respective state agencies identified on Exhibit B to | |||
|---|---|---|---|---|
| I have received a Franchise Disclosure Document dated April 3, 2025, and with effective dates of state registration as listed on the State Cover Page. This Disclosure Document included the following exhibits: | ||||
| A | Franchise Agreement and Exhibits | F | Table of Contents for Manual | |
| B | List of State Administrators | G | State–specific Disclosures | |
| C | Agents for Service of Process | H | State–specific Agreement Amendments | |
| D | List of Current and Former Franchisees | I | General Release Language | |
| E | Financial Statements | J K | State Effective Dates Receipts (2 copies) | |
| Date Received | Delivered By: TO BE RETURNED TO US | Prospective Franchisee Name (Please print) Address |
EXHIBIT E FINANCIAL STATEMENTS
ENGINEERING FOR KIDS INTERNATIONAL, LLC REPORT ON FINANCIAL STATEMENTS YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022
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.
Prior Period 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.
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 Engineering for Kids International, LLC's ability to continue as a going concern within one year after the date that the financial statements are available to be issued.
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
Yes, the 2025 Engineering For Kids Franchise Disclosure Document includes financial statements. According to the exhibit list, Exhibit E contains the financial statements.
Furthermore, the document includes an independent auditor's report on the financial statements of Engineering For Kids International, LLC, which comprises 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 auditor's opinion states that the financial statements present fairly 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.
The audit was conducted in accordance with auditing standards generally accepted in the United States of America. The financial statements for the years 2023 and 2022 were audited by other auditors, whose reports, dated May 17, 2024, and June 20, 2023, respectively, expressed an unmodified opinion on those statements. Management is responsible for the preparation and fair presentation of the financial statements, including the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement.
The inclusion of these audited financial statements provides prospective Engineering For Kids franchisees with important information regarding the franchisor's financial health and stability. This allows them to make a more informed decision about investing in the franchise. Reviewing these statements, along with the accompanying notes and auditor's report, is a crucial step in the due diligence process.