What was the 'Due from affiliates' amount for City Publications as of December 31, 2023?
City_Publications Franchise · 2025 FDDAnswer from 2025 FDD Document
, is as follows:
| Non-refundable Franchise Fees | ||
|---|---|---|
| Year ending December 31: | ||
| 2025 | $ | 29,393 |
| 2026 | 22,613 | |
| 2027 | 17,940 | |
| 2028 | 11,880 | |
| $ | 81,826 |
NOTE 3 – RELATED PARTY TRANSACTIONS
During the year ended December 31, 2024, 2023, and 2022, the Company provided management and advertising services the Company's
Source: Item 23 — RECEIPT (FDD pages 39–129)
What This Means (2025 FDD)
According to City Publications' 2025 Franchise Disclosure Document, the 'Due from affiliates' as of December 31, 2023, was not explicitly listed as a line item in the provided financial statements. However, the document does state that advances due from affiliates as of December 31, 2023, were $1,849,093. These advances bear no interest and have no repayment terms and are classified as a component of shareholders' (deficit) as the affiliates are under common control through common ownership.
This figure represents the total amount of money that City Publications' affiliates owed to the company as of that date. These advances were provided to support affiliate operations.
Prospective franchisees should be aware of the related-party transactions and how they might affect the financial health of City Publications. It is important to understand the nature of these advances, their terms (or lack thereof), and the financial stability of the affiliates involved. Franchisees should seek clarification from City Publications regarding the purpose and potential impact of these related-party transactions on the franchise system.