On what pages of the Fly Fitness financial statements can I find the Balance Sheet?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
Because we have not been in business for three years, we are not able to include the three prior years of audited financial statements normally required by this Item 21. Our audited financial statements for the periods ended December 31, 2023, and December 31, 2022, and an unaudited balance sheet as of May 31, 2024 are included in Exhibit D.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 44)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, the audited financial statements for the periods ended December 31, 2023, and December 31, 2022, along with an unaudited balance sheet as of May 31, 2024, are included in Exhibit D. The balance sheet as of December 31, 2023, is part of the audited financial statements reviewed in the Independent Auditor's Report. Similarly, the balance sheet as of December 31, 2022, is also part of the audited financial statements reviewed in a separate Independent Auditor's Report.
Specifically, the FDD includes an image of a balance sheet as of May 31, 2024. Additionally, the Independent Auditor's Reports mention that the audited financial statements comprise the balance sheets as of December 31, 2023 and December 31, 2022. Therefore, multiple balance sheets are included within the financial statements exhibit.
In summary, to find the balance sheets, a prospective Fly Fitness franchisee should refer to Exhibit D of the 2024 FDD. They will find balance sheets as of December 31, 2023, December 31, 2022 and an unaudited balance sheet as of May 31, 2024.