What is the fiscal year-end used for the Coffee News financial statements reviewed in the independent accountant's review report?

According to Coffee News's 2025 Franchise Disclosure Document, the independent auditor's report reviews financial statements with a fiscal year-end of December 31. Specifically, the auditor's report covers balance sheets as of December 31 for the years 2024, 2023, and 2022. It also includes the related statements of income and retained earnings, and cash flows for the years then ended. This indicates that Coffee News uses December 31 as the end date for its fiscal year for financial reporting purposes.

For a prospective franchisee, this means that the financial data presented in the FDD reflects Coffee News's financial performance up to December 31 of each year. Understanding the fiscal year-end is important for analyzing the financial statements and assessing the company's financial health and trends over time. Franchisees can use this information to benchmark their own performance against the franchisor's and to make informed decisions about their investment.

It's also worth noting that there is a separate set of financial statements included in the 2025 FDD for 2703203 Manitoba, Ltd., which owns the worldwide trademarks and franchise rights for Coffee News. These financial statements, however, have a fiscal year-end of July 31, as indicated in the independent accountant's review report for that entity. Therefore, when reviewing the FDD, it's important to distinguish between the financial statements of Coffee News USA, Inc. and those of 2703203 Manitoba, Ltd., as they have different fiscal year-ends.