Annual and interim financial reporting comprises the mandatory periodic financial disclosures that Woodfine Capital Projects Inc. intends to file, upon effectiveness of its planned prospectus offering, as a reporting issuer under National Instrument 51-102 Continuous Disclosure Obligations.¹ These filings provide investors and regulators with audited and reviewed financial statements, management's analysis of results and outlook, and the annual information form that describes the company's business, risk factors, and governance structure.

Annual reporting cycle

Annual disclosure for the fiscal year ended December 31 is due no later than March 31 of the following year (90 days after fiscal year end). The annual filing package consists of three components.

Audited annual financial statements are prepared in accordance with International Financial Reporting Standards as adopted by the Canadian Accounting Standards Board. They include the statement of financial position, statement of comprehensive income, statement of changes in equity, statement of cash flows, and supporting notes. The statements are audited by an independent external auditor and accompanied by the auditor's report.

Management's discussion and analysis (annual) is a narrative document in which management discusses the company's financial position, operating results, and significant developments during the fiscal year. It includes a forward-looking overview of business priorities and risk factors. Material assumptions underlying forward-looking statements are identified and disclosed. The annual MD&A is filed together with the annual financial statements.

Annual information form (AIF) on Form 51-102F2 provides background on the company's corporate structure, business operations, properties, risk factors, directors and officers, legal proceedings, and audit committee composition. The AIF is the primary document for investors seeking a comprehensive factual description of the company's business and governance at a point in time.

Interim reporting cycle

Interim disclosure is required for each of the first three fiscal quarters. The deadline is 45 days after the applicable quarter end: May 15 (Q1), August 14 (Q2), and November 14 (Q3).

Interim financial statements are prepared in accordance with IAS 34 Interim Financial Reporting and consist of a condensed statement of financial position, condensed statement of comprehensive income, condensed statement of changes in equity, condensed statement of cash flows, and selected notes. Interim statements are reviewed (not audited) by the external auditor.

Management's discussion and analysis (interim) covers the quarter and year-to-date period and follows the same structure as the annual MD&A in abbreviated form. It explains material variances from the comparative period, updates the risk factor discussion where conditions have changed, and discloses any material changes in the company's business or financial condition that occurred during the quarter.

Direct-hold solution reporting

Each direct-hold solution that has completed a prospectus offering is a distinct reporting issuer with its own obligations under NI 51-102; WCP intends to become a reporting issuer upon effectiveness of its planned prospectus offering. Each direct-hold solution files its own audited annual financial statements, annual information form, and MD&A as a standalone issuer; these are not consolidated into WCP's financial statements.

WCP applies the investment entity accounting treatment under IFRS 10.27: its interest in each direct-hold solution is measured at fair value through profit or loss rather than consolidated on a line-by-line basis into WCP's statements. The fair value of WCP's interest in each solution is disclosed in WCP's own financial statements in accordance with IFRS 12.19A–G, which requires disclosure of the financial information of unconsolidated investment entity investees.

Each direct-hold solution therefore maintains two disclosure streams: its own standalone filings as a reporting issuer, and a fair-value line in WCP's statements as an investee of an investment entity. T5013 partnership information slips are issued to limited partnership unitholders of each direct-hold solution for the applicable fiscal year.

SEDAR+ filing and accessibility

All annual and interim financial documents are filed electronically through SEDAR+ and become publicly accessible upon filing.² Documents are provided in a searchable electronic format per the requirements of OSC Staff Notice 51-721. The table below will be updated as filings are made.

Financial filings

See also

• governance-documents — committee charters and governance policies
• press-releases — material change disclosure and press releases