How is the end of Cream's fiscal year determined?
Cream Franchise · 2025 FDDAnswer from 2025 FDD Document
Attached to this Disclosure Document as Exhibit D is our audited opening balance sheet as of May 29, 2025. Our fiscal year ends on the fourth Sunday in the fiscal month of December, except when the fourth week of the fiscal month of December ends before December 31st, in which case our fiscal year is extended by one week.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 60)
What This Means (2025 FDD)
According to Cream's 2025 Franchise Disclosure Document, the company's fiscal year concludes on the fourth Sunday of December, with a specific exception. Cream operates on a 52/53-week fiscal year.
The standard end date is the fourth Sunday in December. However, if the fourth week of December ends before December 31st, Cream extends its fiscal year by one additional week.
This approach to determining the fiscal year-end provides Cream with flexibility in its accounting practices, ensuring that the fiscal year accurately reflects the company's financial performance, especially in years where the calendar does not neatly align with a 52-week period. For a prospective franchisee, understanding Cream's fiscal year-end is important for financial planning, reporting, and understanding the timing of financial disclosures from the franchisor.