For Hydrodog, what exhibit contains the audited financial statements?
Hydrodog Franchise · 2025 FDDAnswer from 2025 FDD Document
INDEPENDENT AUDITORS' REPORT
To the Ownership of Legacy Franchisors LLC D/B/A Hydrodog
Opinion
We have audited the accompanying financial statements of Legacy Franchisors LLC D/B/A Hydrodog (a Maine Limited Liability Company), which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of operations, members' equity, and cash flows for the years 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 Legacy Franchisors LLC D/B/A Hydrodog as of December 31, 2024 and 2023, 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. Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Legacy Franchisors LLC D/B/A Hydrodog 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.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for 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 Legacy Franchisors LLC D/B/A Hydrodog'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 21 — FINANCIAL STATEMENTS (FDD page 43)
What This Means (2025 FDD)
According to Hydrodog's 2025 Franchise Disclosure Document, the independent auditors' report includes the audited financial statements. The report contains the opinion of the auditors, Aprio, LLP, regarding the financial statements of Legacy Franchisors LLC D/B/A Hydrodog, a Maine Limited Liability Company. These statements comprise the balance sheets as of December 31, 2024, and 2023, along with related statements of operations, members' equity, and cash flows for the years then ended, and the related notes.
The auditors' opinion confirms that the financial statements present fairly the financial position of Hydrodog as of December 31, 2024, and 2023, and the results of its operations and cash flows for those years, 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, ensuring independence and adherence to ethical responsibilities.
The report also details management's responsibilities for preparing the financial statements, including the design, implementation, and maintenance of internal controls. Management must evaluate conditions that raise substantial doubt about Hydrodog's ability to continue as a going concern within one year after the financial statements are issued. The auditors' responsibilities include obtaining reasonable assurance about whether the financial statements are free from material misstatement and issuing a report with their opinion. This involves exercising professional judgment, assessing risks, and evaluating accounting policies and estimates.
The audit report, signed by Aprio, LLP in Raleigh, North Carolina, on March 27, 2025, provides a detailed overview of the scope and findings of the audit, offering potential franchisees an insight into the financial health and stability of Hydrodog. Reviewing these audited statements is a crucial step for prospective franchisees to assess the financial viability of investing in a Hydrodog franchise.