For Hydrodog, are the financial statements for the fiscal year ending December 31, 2024 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 year ending December 31, 2024, have been audited. The Independent Auditors' Report states that the auditors have audited the balance sheets as of December 31, 2024 and 2023, along with the related statements of operations, members' equity, and cash flows for the years then ended. This audit was conducted by an independent auditor, providing an unbiased opinion on the financial statements.
The auditor's opinion confirms that the financial statements 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. This statement indicates that the financial statements are reliable and conform to standard accounting practices.
The audit was performed in accordance with auditing standards generally accepted in the United States of America. The auditors' responsibilities include obtaining reasonable assurance about whether the financial statements are free from material misstatement, whether due to fraud or error, and issuing an auditors' report that includes their opinion. This process involves examining evidence, assessing risks, and evaluating accounting policies and disclosures to ensure the accuracy and reliability of the financial statements. This provides potential franchisees with confidence in the financial health and stability of Hydrodog.