Are the financial statements for Floyds 99 audited or unaudited?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
UNAUDITED FINANCIAL STATEMENTS OF FLOYD'S 99 FRANCHISING, LLC FOR THE PERIOD ENDED APRIL 27, 2025
THESE FINANCIAL STATEMENTS WERE PREPARED WITHOUT AN AUDIT. PROSPECTIVE FRANCHISEES OR SELLERS OF FRANCHISES SHOULD BE ADVISED THAT NO CERTIFIED PUBLIC ACCOUNTANT HAS AUDITED THESE FIGURES OR EXPRESSED AN OPINION WITH REGARD TO THEIR CONTENT OR FORM.
and
AUDITED FINANCIAL STATEMENTS OF FLOYD'S 99 FRANCHISING, LLC FOR THE PERIODS ENDED DECEMBER 25, 2022, DECEMBER 31, 2023, AND DECEMBER 29, 2024
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 57)
What This Means (2025 FDD)
According to Floyds 99's 2025 Franchise Disclosure Document, the company provides both audited and unaudited financial statements. The FDD includes audited financial statements for the periods ending December 25, 2022, December 31, 2023, and December 29, 2024.
In addition to the audited statements, Floyds 99 also includes unaudited financial statements in the FDD. Specifically, there are unaudited statements of cash flows, balance sheets, statements of member's equity, and statements of operations for the four periods ending April 27, 2025.
The FDD explicitly states that the unaudited financial statements were prepared without an audit and advises prospective franchisees that no certified public accountant has audited these figures or expressed an opinion on their content or form. This distinction is important for potential franchisees as audited statements provide a higher level of assurance regarding their accuracy and reliability compared to unaudited statements.