Through what date have subsequent events been reviewed for Mr. Sandless' financial statements?
Mr_Sandless Franchise · 2025 FDDAnswer from 2025 FDD Document
The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or nonrecognized subsequent events that would have required further adjustment or disclosure in the financial statements. Subsequent events have been reviewed through April 1, 2025, the date at which the financial statements were available to be issued.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 41–42)
What This Means (2025 FDD)
According to Mr. Sandless' 2025 Franchise Disclosure Document, the company evaluates events after the balance sheet date but before the financial statements are issued. Based on this evaluation, Mr. Sandless did not identify any recognized or nonrecognized subsequent events that would have required further adjustment or disclosure in the financial statements. The subsequent events have been reviewed through April 1, 2025, which was the date the financial statements were available to be issued.
This means that Mr. Sandless has assessed events occurring after December 31, 2024 (the balance sheet date) up to April 1, 2025, to ensure that there were no significant events that would impact the accuracy or require disclosure in the financial statements. This review provides assurance that the financial statements reflect the most up-to-date information available as of the issuance date.
For a prospective franchisee, this indicates that Mr. Sandless takes steps to ensure the financial statements are current and accurate. It shows that the company is aware of its responsibilities regarding financial reporting and is proactive in identifying and addressing any events that could affect the financial picture presented to potential investors or franchisees.