For Kitchen Solvers, which entity's financial statements are audited in the provided report?
Kitchen_Solvers Franchise · 2025 FDDAnswer from 2025 FDD Document
INDEPENDENT AUDITOR'S REPORT
Members KS La Crosse Investment, LLC La Crosse, Wisconsin
Opinion
We have audited the accompanying financial statements of KS La Crosse Investment, LLC, ("the Company") (an S Corporation), which comprise the balance sheets as of December 31, 2024, 2023 and 2022, and the related statements of income, retained earnings, 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 KS La Crosse Investment, LLC 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.
Source: Item 21 — Financial Statements (FDD pages 48–49)
What This Means (2025 FDD)
According to Kitchen Solvers' 2025 Franchise Disclosure Document, the financial statements that have been audited are those of KS La Crosse Investment, LLC. The Independent Auditor's Report confirms that the audit was conducted on the financial statements of this specific entity, which is identified as an S Corporation. The report includes balance sheets as of December 31 for the years 2024, 2023, and 2022, along with statements of income, retained earnings, and cash flows for the corresponding years, and related notes.
This means that the financial performance and position reflected in the Item 21 financial statements pertain specifically to KS La Crosse Investment, LLC, the Kitchen Solvers franchisor. A prospective franchisee can review these statements to understand the franchisor's financial health and stability. The auditor's opinion indicates whether these statements present fairly the financial position, results of operations, and cash flows of the company in accordance with generally accepted accounting principles.
It is important for a potential Kitchen Solvers franchisee to carefully examine these audited financial statements, as they provide insights into the franchisor's revenue, expenses, assets, and liabilities. Reviewing the notes to the financial statements is also crucial, as they offer additional details on significant accounting policies, debt obligations, and other relevant financial information. Understanding the franchisor's financial standing can help a franchisee assess the risks and opportunities associated with investing in a Kitchen Solvers franchise.