annual report - Pumpkin Patch investor relations

PUMPKIN PATCH LIMITED & SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS 31 JULY 2010
PUMPKIN PATCH LIMITED & SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS 31 JULY 2010
14 INVESTMENTS IN SUBSIDIARIES
The consolidated financial statements incorporate the assets, liabilities and results of the
following significant subsidiaries in accordance with the accounting policy described in
note 2(B):
Name of entity Principal Activity Country of
incorporation
Torquay Enterprise Limited
Pumpkin Patch Originals Limited
Pumpkin Patch (Australia) Pty Limited
Pumpkin Patch Limited
Investment
company
Clothing retailer
and wholesaler
Holding/admin
company
Clothing retailer
and wholesaler
Equity
holding
2010 2009
% %
New Zealand 100 100
New Zealand 100 100
Australia 100 100
United Kingdom 100 100
Pumpkin Patch LLC * Clothing retailer United States 100 100
15 TRADE AND OTHER PAYABLES
Consolidated at Parent at
31 July 2010 31 July 2009 31 July 2010 31 July 2009
$Õ000 $Õ000 $Õ000 $Õ000
Trade payables 12,972 7,471 549 984
Amounts due to subsidiaries - - 207,221 179,867
Sundry accruals 12,206 19,202 2,293 1,402
Sales tax payable - 898 519 856
Employee benefits 6,475 6,484 2,388 2,422
31,653 34,055 212,970 185,531
The carrying amounts of the GroupÕs and Parent entityÕs trade and other payables are
denominated in the following currencies:
NZD 10,769 4,576 212,896 185,531
USD 9,800 10,538 - -
AUD 7,942 14,778 74 -
GBP 3,142 4,163 - -
31,653 34,055 212,970 185,531
Pumpkin Patch Wholesale LLC
Clothing
wholesaler
United States 100 100
The fair value of trade and other payables approximates their carrying value.
Pumpkin Patch Direct Limited Clothing retailer New Zealand 100 100
Pumpkin Patch Ireland Limited # Clothing retailer Ireland 100 -
* During the 2009 financial year the investment in Pumpkin Patch LLC was fully impaired.
Refer to note 4 for further details.
# Pumpkin Patch Ireland was incorporated as a subsidiary of Pumpkin Patch Limited in
June 2010, however, it had not commenced trading as at 31 July 2010.
All subsidiary entities have a balance date of 31 July and are audited by
PricewaterhouseCoopers.
Parent at
31 July 2010 31 July 2009
$Õ000 $Õ000
Investment in subsidiaries 58,189 58,189
20
years
young
71