As of what date are the balance sheets provided for Boomerang Franchise, LLC (Hyper Kidz)?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
Boomerang Franchise, LLC
Balance Sheet
As of June 19, 2024
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 52)
What This Means (2024 FDD)
According to Hyper Kidz's 2024 Franchise Disclosure Document, the balance sheet for Boomerang Franchise, LLC is provided as of June 19, 2024. Additionally, the FDD includes audited financials from December 31, 2021, December 31, 2022, and December 31, 2023.
For a prospective Hyper Kidz franchisee, this means the FDD contains a snapshot of the company's financial position as of June 19, 2024, along with historical financial data for the prior three years. Reviewing these balance sheets can provide insights into the company's assets, liabilities, and equity at those specific points in time.
It is important to note that the balance sheet as of June 19, 2024 is unaudited, while the balance sheets for the three prior years have been audited by an independent auditor. Audited financial statements generally provide a higher level of assurance regarding their accuracy and reliability. The FDD also includes a statement that the unaudited financial statements are prepared without an audit and that prospective franchisees should be advised that no certified public accountant has audited these figures or expressed an opinion with regard to the consent or form.