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
23 RELATED PARTY TRANSACTIONS continued
(C) KEY MANAGEMENT AND DIRECTOR COMPENSATION
Key management personnel compensation for the years ended 31 July 2010 and 31 July
2009 is set out below. The key management personnel comprise certain members of
the executive team (including both executive and non-executive directors) who have the
greatest authority for the strategic direction and management of the company.
The amount paid by the Group and the Parent were consistent for both 2010 and 2009.
Directors
fees
Salaries and
other short
term employee
benefits
Cash
based
incentive
issued
Fair Value
of share
instruments
issued
Total
$Õ000 $Õ000 $Õ000 $Õ000 $Õ000
2010 381 1,789 1,010 248 3,428
2009 321 1,842 - 214 2,377
During the 2009 financial year, no cash based incentive payments were made.
(D) BALANCES OUTSTANDING BETWEEN THE COMPANY AND ITS SUBSIDIARIES
Parent at
31 July 2010 31 July 2009
$Õ000 $Õ000
Amounts due from subsidiaries 165,450 126,780
Amounts due to subsidiaries (207,221) (179,867)
(41,771) (53,087)
24 RECONCILIATION OF PROFIT AFTER INCOME TAX TO NET
CASH INFLOW FROM OPERATING ACTIVITIES
Consolidated - Year ended Parent - Year ended
31 July
2010
31 July
2009
31 July
2010
31 July
2009
$Õ000 $Õ000 $Õ000 $Õ000
Profit/(loss) after tax for the year 25,502 (26,739) 21,818 (21,060)
Add (deduct) non-cash items:
Depreciation 8,793 15,143 1,735 1,631
Amortisation of intangibles 2,617 1,696 2,408 1,475
Share based payments expense 431 1,576 431 1,290
Revaluation of derivative financial
instruments 108 (1,255) - -
Fit out contributions amortised (2,205) (3,159) - (100)
(Increase)/decrease in deferred taxation 342 8,895 425 (7,269)
Writedown of investment in subsidiary
company - - - 20,307
Impairment of continuing stores - 16,787 - -
Non-cash items discontinuing operations - 17,345 - -
Foreign currency portfolio restructure
reserve amortisation (11,972) - - -
Add/(less) movements in working
capital items:
(Increase)/decrease in receivables and
prepayments (2,548) 894 (34,140) 275
(Increase)/decrease in inventories 2,722 25,804 - -
Increase/(decrease) in payables and
provisions (2,989) 3,590 27,439 1,580
(Increase)/decrease in related party
balances - - - 17,672
Net cash inflow from operating activities 20,801 60,577 20,116 15,801
20
years
young
85