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