Are the unaudited financial statements for Floyds 99 for a full year or a partial period?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
| Assets | 2025 |
|---|---|
| Current Assets | |
| Cash | $ 238,628 |
| Restricted Cash | $ 212,744 |
| Accounts Recievable | $ 21,424 |
| Due From Related Party | $ 2,468,418 |
| Prepaid and other | $ 299,633 |
| Total Current Assets | $ 3,240,847 |
| Capitalized Software - Net | $ 86,017 |
| Note Recievable | $ - |
| Total assets | $ 3,326,864 |
| Liabilities and Member's Equity | |
| Current Liabilities | |
| Accounts Payable | $ - |
| Short-term portion of deferred franchise revenue | $ 166,953 |
| Accrued payroll and other accrued liabilities | $ (38,743) |
| Total current liabilities | $ 128,210 |
| Other Long-term Liabilities -Deferred franchise revenue | $ 1,547,584 |
| Total Liabilities | $ 1,675,794 |
| Member's Equity | $ 1,651,040 |
| Total Liabilities and member's equity | $ 3,326,834 |
**For the Four Periods ending 04/27/2025 Floyd's 99 Franchising,
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 57)
What This Means (2025 FDD)
According to the 2025 Floyds 99 FDD, the Statement of Cash Flows and the Statement of Member's Equity are unaudited and cover four periods ending April 27, 2025. The Statement of Operations is also unaudited and covers the same four periods ending April 27, 2025.
These statements, covering less than a full year, provide a snapshot of Floyds 99's financial performance during that specific timeframe. This differs from the Independent Auditor's Report, which includes financial statements for full years ending December 29, 2024; December 31, 2023; and December 25, 2022.
Prospective franchisees should recognize that the franchisor provides both partial and full year financial statements. They should analyze both sets of documents carefully to understand the franchisor's financial performance over different periods. It is important to understand why the franchisor is providing statements for less than a full year and how this might impact the franchisee's assessment of the business's financial health.