What years are covered by the audited financial statements for City Publications?
City_Publications Franchise · 2025 FDDAnswer from 2025 FDD Document
| STATE | FRANCHISE AGREEMENTS SIGNED BUT OUTLET NOT OPENED | PROJECTED NEW FRANCHISED OUTLETS IN THE NEXT FISCAL YEAR | PROJECTED COMPANY OWNED BUSINESSES |
|---|---|---|---|
| Alabama | 0 | 1 | 0 |
| Arizona | 0 | 1 | 0 |
| California | 0 | 2 | 0 |
| Colorado | 0 | 1 | 0 |
| Minnesota | 0 | 2 | 0 |
| Mississippi | 0 | 1 | 0 |
| North Carolina | 0 | 1 | 0 |
| South Carolina | 0 | 1 | 0 |
| Tennessee | 0 | 1 | 0 |
| Total | 0 | 11 | 0 |
ITEM 21. FINANCIAL STATEMENTS
Our audited financial statements for the years ending on December 31, 2024, December 31, 2023, and December 31, 2022 are attached
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 38)
What This Means (2025 FDD)
According to City Publications' 2025 Franchise Disclosure Document, the audited financial statements included cover the years ending December 31, 2024, December 31, 2023, and December 31, 2022. These financial statements are attached to the FDD as Exhibit E. The inclusion of these statements allows prospective franchisees to review City Publications' financial performance over the past three years.
Specifically, the independent auditor's report indicates that the balance sheets as of December 31, 2024, and 2023, along with the statements of operations, shareholders' deficit, and cash flows for the years then ended, were audited. The auditor's opinion states that these financial statements present fairly the financial position of City Publications in accordance with accounting principles generally accepted in the United States of America.
Additionally, the FDD mentions that the financial statements for the year ended December 31, 2022, were audited by another auditor, who expressed an unmodified opinion on those statements on March 15, 2023. This provides further transparency into the company's financial history and allows potential franchisees to assess the consistency of financial reporting over time. Reviewing these financial statements is a crucial step for any prospective franchisee to understand the financial health and stability of City Publications before making an investment decision.