What is the date the Mrcool financial statements were available to be issued?
Mrcool Franchise · 2025 FDDAnswer from 2025 FDD Document
, relating to the audited financial statements of the Franchisor for the period ending December 31, 2024.
X______________________________
Bowden & Wood, PLLC Certified Public Accountants
February 20, 2025
FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023 MRCOOL FRANCHISING, LLC FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION
CONTENTS
| Independent auditors' report | 1 |
|---|---|
| Balance sheets | 3 |
| Statements of income | 4 |
| Statements of members' equity | 5 |
| Statements of cash flows | 6 |
| Notes to financial statements | 7 |
February 12, 2025
INDEPENDENT AUDITORS' REPORT
To the LLC Members MRCOOL Franchising, LLC Hickory, Kentucky
Opinion
We have reviewed the accompanying financial statements of MRCOOL Franchising, LLC (a Kentucky limited liability company), which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of income, members' equity and cash flows for the years then ended, and the related notes to financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of MRCOOL Franchising, LLC as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended December 31, 2024 and 2023, 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 Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of MRCOOL Franchising, LLC 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.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Source: Item 23 — RECEIPTS (FDD pages 55–263)
What This Means (2025 FDD)
According to Mrcool's 2025 Franchise Disclosure Document, the company evaluated subsequent events through the date of the report, which is February 20, 2025. This date represents when the financial statements were available to be issued.
This date is important for prospective franchisees because it indicates how current the financial information is. Financial statements are a crucial part of the due diligence process, as they provide insights into the franchisor's financial health and stability. The recency of these statements ensures that potential franchisees are making decisions based on the most up-to-date information available.
Furthermore, the audit report included in the FDD is dated February 12, 2025. This report covers the financial years 2024 and 2023. The auditor's opinion confirms that the financial statements present fairly the financial position of Mrcool Franchising, LLC 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.