Einstein Bros 2004 Annual Report Download - page 30

Download and view the complete annual report

Please find page 30 of the 2004 Einstein Bros annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 65

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65

http://www.sec.gov/Archives/edgar/data/949373/000104746905006202/a2153240z10-k.htm[9/11/2014 10:13:29 AM]
35
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Board of Directors
New World Restaurant Group, Inc.
We have audited the accompanying consolidated balance sheets of New World Restaurant Group, Inc. and Subsidiaries as of December 28,
2004 and December 30, 2003, and the related consolidated statements of operations, changes in stockholders' equity and cash flows for each of the
three years in the period ended December 28, 2004. These financial statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those
standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above, present fairly, in all material respects, the financial position of New
World Restaurant Group, Inc. and Subsidiaries as of December 28, 2004 and December 30, 2003, and the results of their operations, and their cash
flows for each of the three years in the period ended December 28, 2004, in conformity with accounting principles generally accepted in the
United States of America.
Our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. Schedule II is presented for
purposes of additional analysis and is not a required part of the basic financial statements. This schedule has been subjected to the auditing
procedures applied in the audit of the basic financial statements and in our opinion, is fairly stated in all material respects in relation to the basic
financial statements taken as a whole.
As discussed in Note 2, the Company has restated their consolidated financial statements for the years ended December 30, 2003 and
December 31, 2002, to record amortization expense on leasehold improvements in conformity with accounting principles generally accepted in the
United States of America.
/s/ GRANT THORNTON LLP
Denver, Colorado
February 21, 2005
36
NEW WORLD RESTAURANT GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
AS OF DECEMBER 28, 2004 AND DECEMBER 30, 2003
(in thousands, except share information)
December 28,
2004
December 30,
2003
(Restated)
ASSETS
Current assets:
Cash and cash equivalents $ 9,752 $ 9,575