annual report 2005 - Pumpkin Patch investor relations

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Pumpkin Patch Limited & Subsidiaries statements of cashflows for the 12 months ended 31 July 2005 Group Parent 12 months 12 months 12 months 12 months 31 July 2005 31 July 2004 31 July 2005 31 July 2004 Notes $000 $000 $000 $000 Cash Flow From Operating Activities CASH WAS PROVIDED FROM: Receipts from customers 273,366 220,347 38,434 26,942 Interest received 29 153 150 112 Net GST received 277 - 45 - Dividends received - - 6,358 5,273 CASH WAS APPLIED TO: Payment to suppliers and employees (239,388) (200,022) (36,605) (54,837) Net GST paid - (13) - (95) Income tax paid (9,108) (2,617) (421) (1,440) Interest paid (576) (2,777) (263) (198) Net Cash Flow from Operating Activities 20 24,600 15,071 7,698 (24,243) Cash Flow From Investing Activities CASH WAS PROVIDED FROM: Proceeds from sale of property plant and equipment 35 104 - 16 CASH WAS APPLIED TO: Purchase of property plant and equipment (13,577) (7,990) (1,310) (858) Purchase of trade marks (91) (53) - - Net Cash Used in Investing Activities (13,633) (7,939) (1,310) (842) Cash Flow From Financing Activities CASH WAS PROVIDED FROM: Issue of shares prior to listing - 1,000 - 1,000 101,284 Issue of shares upon float - 101,284 - CASH WAS APPLIED TO: Repayment of loans (term debt) - (36,637) - (4,290) Purchase of shares - (61,284) - (61,284) Costs of share issue - (1,957) - (1,957) Dividends paid (6,353) (9,627) (6,353) (9,627) Net Cash Used in Financing Activities (6,353) (7,221) (6,353) 25,126 Net Increase / (Decrease) In Cash Held 4,614 (89) 35 41 Add opening cash brought forward (4,541) (4,452) 1 (40) Effect of exchange rate changes on cash - - - - Ending Cash Carried Forward 73 (4,541) 36 1 26 Proceeds from short term borrowings have been netted against payments of short term borrowings. These borrowings are covered by an arranged finance facility.
Pumpkin Patch Limited & Subsidiaries statements of accounting policies for the 12 months ended 31 July 2005 entities reporting The financial statements for the “Parent” are for Pumpkin Patch Limited as a separate legal entity. The consolidated financial statements for the “Group” are for the economic entity comprising Pumpkin Patch Limited and its subsidiaries. statutory base Pumpkin Patch Limited is a company registered under the Companies Act 1993 and is an issuer in terms of the Securities Act 1978. The financial statements are those of Pumpkin Patch Limited and its subsidiaries and are prepared and presented in accordance with the Companies Act 1993 and the Financial Reporting Act 1993. measurement base The financial statements have been prepared on the historical cost basis. To ensure consistency with the current period, comparative figures have been restated where appropriate. accounting policies The financial statements are prepared in accordance with New Zealand generally accepted accounting practice. The accounting policies that materially affect the measurement of financial performance, financial position and cash flows are set out below. group financial statements The Group financial statements consolidate the financial statements of subsidiaries, using the purchase method. Subsidiaries are entities that are controlled, either directly or indirectly, by the Parent. All material transactions between subsidiaries or between the Parent and subsidiaries are eliminated on consolidation. The results of subsidiaries acquired or disposed of during the year are included in the consolidated statement of financial performance from the date of acquisition or up to the date of disposal. operating revenues goods and services Revenue comprises the amounts received and receivable for goods and services supplied to customers in the ordinary course of business. investment income Dividend income is recognised in the period the dividend is declared. Interest and rental income are accounted for as earned. income tax The income tax expense recognised for the year is based on the accounting surplus, adjusted for permanent differences between accounting and tax rules. The impact of all timing differences between accounting and taxable income is recognised as a deferred tax liability or asset. This is the comprehensive basis for the calculation of deferred tax under the liability method. A deferred tax asset, or the effect of losses carried forward that exceed the deferred tax liability, is recognised in the financial statements only where there is virtual certainty that the benefit of the timing differences, or losses, will be utilised. goods and services tax (GST) The statement of financial performance and statement of cash flows have been prepared so that all components are stated exclusive of GST. All items in the statement of financial position are stated net of GST, with the exception of receivables and payables, which include GST invoiced. 27
Page 1 and 2: annual report 2005
Page 4 and 5: contents performance highlights 1 f
Page 6 and 7: financial highlights Year ended 31
Page 8 and 9: id culture
Page 10 and 11: id culture managing director’s re
Page 12 and 13: id culture United Kingdom retail 20
Page 14 and 15: ur team spirit! directors Greg Muir
Page 16 and 17: ur team spirit! senior management t
Page 19 and 20: corporate governance The Board of D
Page 21: external auditor independence To en
Page 24 and 25: directors shareholdings 31 July 200
Page 27 and 28: Pumpkin Patch Limited & Subsidiarie
Page 29: Pumpkin Patch Limited & Subsidiarie
Page 56 and 57: shareholder information for the yea
Page 59 and 60: corporate directory registered offi

annual report 2005 - Pumpkin Patch investor relations

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