Group Financial Statements/Auditors' Report - Pumpkin Patch ...

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PUMPKIN PATCH LIMITED & SUBSIDIARIES FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2010 PUMPKIN PATCH LIMITED & SUBSIDIARIES STATEMENTS OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 JULY 2010 INCOME STATEMENTS For the year ended 31 July 2010 Consolidated - Year ended Parent - Year ended 31 July 2010 31 July 2009 31 July 2010 31 July 2009 Notes $’000 $’000 $’000 $’000 Sales revenue 381,994 412,348 - - Cost of goods sold (147,556) (175,231) - - Gross profit 234,438 237,117 - - Other operating income 204 197 73,167 41,090 Expenses 3 Selling expenses (167,138) (177,954) - - Finance expenses (2,356) (4,835) (5,337) 423 Administrative and general expenses (27,388) (27,142) (46,926) (40,762) Profit from continuing operations before non‐recurring items and income tax 37,760 27,383 20,904 751 Non‐recurring items 4 - (16,787) - (20,307) Profit/(loss) from continuing operations before income tax 37,760 10,596 20,904 (19,556) Income tax expense 6 (12,258) (8,834) 914 (1,504) Net profit from continuing operations 25,502 1,762 21,818 (21,060) (Loss) from discontinued operations (net of tax) 4 - (28,501) - - Profit /(loss) for the year 25,502 (26,739) 21,818 (21,060) STATEMENTS OF COMPREHENSIVE INCOME For the year ended 31 July 2010 Consolidated - Year ended Parent - Year ended 31 July 2010 31 July 2009 31 July 2010 31 July 2009 Notes $’000 $’000 $’000 $’000 Profit/(loss) for the year 25,502 (26,739) 21,818 (21,060) Other comprehensive income Exchange differences on translation of foreign operations (6,132) 5,044 - - Net movement on cash flow hedges (3,944) 6,715 - - Mark to market gains /(losses) on foreign currency portfolio restructure (17,103) 26,182 - - Income tax relating to components of other comprehensive income 8,055 (9,948) - - (19,124) 27,993 - - Total comprehensive income for the year, net of tax 6,378 1,254 21,818 (21,060) Total comprehensive income for the year is attributable to: Equity holders of <strong>Pumpkin</strong> <strong>Patch</strong> Limited 6,378 1,254 21,818 (21,060) 6,378 1,254 21,818 (21,060) The above statements of comprehensive income should be read in conjunction with the accompanying notes. Earnings per share for profit attributable to shareholders: Cents Cents Basic earnings per share 22 15.3 (16.0) Diluted earnings per share 22 15.2 (16.0) Attributable to continuing operations: Basic earnings per share 22 15.3 1.1 Diluted earnings per share 22 15.2 1.1 Attributable to discontinuing operations: Basic earnings per share 22 - (17.1) Diluted earnings per share 22 - (17.1) The above income statements should be read in conjunction with the accompanying notes. Maurice Prendergast David Jackson 22 September 2010 22 September 2010 20 years young 39
PUMPKIN PATCH LIMITED & SUBSIDIARIES BALANCE SHEETS AS AT 31 JULY 2010 PUMPKIN PATCH LIMITED & SUBSIDIARIES STATEMENTS OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 JULY 2010 BALANCE SHEETS As at 31 July 2010 Consolidated at Parent at 31 July 2010 31 July 2009 31 July 2010 31 July 2009 Notes $’000 $’000 $’000 $’000 ASSETS Current assets Cash and cash equivalents 7 6,945 12,563 31 38 Trade and other receivables 8 20,727 19,559 166,836 128,633 Derivative financial instruments 10 4,930 4,123 - - Inventories 9 71,355 80,210 - - Current tax receivables 1,381 - 4,328 8,391 Total current assets 105,338 116,455 171,195 137,062 Non‐current assets Property, plant and equipment 11 53,096 52,299 12,026 12,593 Intangible assets 12 8,435 7,266 7,869 6,653 Other financial assets 14 - - 58,189 58,189 Trade and other receivables 4 4 4 4 Derivative financial instruments 10 2,555 2,662 - - Deferred tax assets 13 9,161 9,502 - - Total non‐current assets 73,251 71,733 78,088 77,439 Total assets 178,589 188,188 249,283 214,501 LIABILITIES Current liabilities Trade and other payables 15 31,653 34,055 212,970 185,531 Interest bearing liabilities 16 25,000 10,000 28 319 Current tax liabilities - 1,826 - - Derivative financial instruments 10 15,696 10,409 - - Deferred landlord contributions 2,058 2,326 - - Total current liabilities 74,407 58,616 212,998 185,850 Non‐current liabilities Interest bearing liabilities 16 8,000 21,000 - - Deferred landlord contributions 5,461 6,581 - - Derivative financial instruments 10 9,854 13,313 - - Deferred tax liabilities 13 - - 804 379 Total non‐current liabilities 23,315 40,894 804 379 Total liabilities 97,722 99,510 213,802 186,229 Net assets 80,867 88,678 35,481 28,272 EQUITY Share capital 18 58,398 57,978 58,431 58,431 Reserves 20 (1,544) 17,149 5,830 5,399 Retained earnings / (deficit) 20 24,013 13,551 (28,780) (35,558) Total equity 80,867 88,678 35,481 28,272 The above statements of financial position should be read in conjunction with the accompanying notes. STATEMENTS OF CHANGES IN EQUITY For the year ended 31 July 2010 Attributable to equity holders of the Company Share capital Reserves Treasury stock Retained earnings Total equity Consolidated Notes $’000 $’000 $’000 $’000 $’000 Balance at 01 August 2008 58,802 (12,420) (790) 51,138 96,730 Comprehensive income Profit/(loss) - - - (26,739) (26,739) Other comprehensive income - 27,993 - - 27,993 Total comprehensive income - 27,993 - (26,739) 1,254 Movement in treasury stock - - 337 - 337 Movement in share based payments reserve 20 - 1,576 - - 1,576 Shares issued 18 752 - - - 752 Shares repurchased 18 (1,123) - - - (1,123) Dividends paid 21 - - - (10,848) (10,848) Balance at 31 July 2009 58,431 17,149 (453) 13,551 88,678 Balance at 01 August 2009 58,431 17,149 (453) 13,551 88,678 Comprehensive income Profit/(loss) - - - 25,502 25,502 Other comprehensive income - (19,124) - - (19,124) Total comprehensive income - (19,124) - 25,502 6,378 Movement in treasury stock 18 - - 420 - 420 Movement in share based payments reserve 20 - 431 - - 431 Dividends paid 21 - - - (15,040) (15,040) Balance at 31 July 2010 58,431 (1,544) (33) 24,013 80,867 The above statements of changes in equity should be read in conjunction with the accompanying notes. 20 years young 41
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