Are the financial statements for Goldfish Swim School unaudited?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
Independent Auditor's Report
To the Members Goldfish Swim School Franchising, LLC and Subsidiary
Opinion
We have audited the consolidated financial statements of Goldfish Swim School Franchising, LLC and Subsidiary (the "Company"), which comprise the consolidated balance sheet as of December 31, 2024, 2023, and 2022 and the related consolidated statements of operations, members' equity, and cash flows for the years then ended, and the related notes to the consolidated financial statements.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024, 2023, and 2022 and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audits of the Consolidated Financial Statements section of our report. We are required to be independent of the Company and to meet our 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 21 — FINANCIAL STATEMENTS (FDD page 76)
What This Means (2025 FDD)
According to the 2025 Goldfish Swim School Franchise Disclosure Document, the financial statements have been audited by an independent auditor. The "Independent Auditor's Report" states that Plante & Moran, PLLC, has audited the consolidated financial statements of Goldfish Swim School Franchising, LLC and Subsidiary. This audit includes the consolidated balance sheets as of December 31, 2024, 2023, and 2022, along with the related consolidated statements of operations, members' equity, and cash flows for the years then ended, and the related notes to the consolidated financial statements.
The auditor's opinion confirms that the financial statements present fairly, in all material respects, the financial position of Goldfish Swim School as of December 31, 2024, 2023, and 2022, and the results of its operations and its cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America. The audit was conducted following auditing standards generally accepted in the United States of America (GAAS).
For a potential Goldfish Swim School franchisee, this means that the financial statements have been examined by an independent and qualified accounting firm, providing a higher level of assurance regarding the accuracy and reliability of the financial information presented. This can help the franchisee make a more informed decision about investing in the franchise, as the audited statements offer a degree of confidence that the financial data is fairly presented and conforms to established accounting standards.