For Hydrodog, are the financial statements for the fiscal year ending December 31, 2023 audited?
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.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 43)
What This Means (2025 FDD)
According to Hydrodog's 2025 Franchise Disclosure Document, the financial statements for the fiscal years ending December 31, 2024, and December 31, 2023, have been audited by an independent auditor. Aprio, LLP, an independent auditor, issued a report with their opinion on March 27, 2025.
The auditor's opinion states that the financial statements of Legacy Franchisors LLC D/B/A Hydrodog fairly present the company's financial position as of December 31, 2024 and 2023, and the results of its operations and 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 generally accepted auditing standards in the United States. These standards require the auditor to be independent and to meet ethical responsibilities. The audit aims to provide reasonable assurance that the financial statements are free from material misstatement. This includes assessing the risks of fraud or error, examining evidence on a test basis, and evaluating the appropriateness of accounting policies and estimates.
The audit report also details the responsibilities of Hydrodog's management in preparing the financial statements, including the design, implementation, and maintenance of internal controls. Management is also responsible for evaluating the company's ability to continue as a going concern. The auditor's report provides assurance to potential franchisees that Hydrodog's financial statements have been professionally examined and found to be fairly presented.