2012 Annual Report - Domino's Pizza

More documents

Recommendations

Info

NOTES TO THE FINANCIAL STATEMENTS CONTINUED 39. COMMITMENTS FOR EXPENDITURE 39.1 Capital expenditure commitments 2012 $’000 2011 $’000 Plant & Equipment 1,707 39.2 Lease commitments Finance lease liabilities and non-cancellable operating lease commitments are disclosed in note 27 and 38 to the financial statements. 40. CONTINGENT LIABILITIES AND CONTINGENT ASSETS 40.1 Contingent liabilities 2012 $’000 2011 $’000 Guarantees 10,740 18,258 Guarantees are provided to third party financial institutions in relation to franchisee loans. The amount disclosed as a contingent liability represents the amounts guaranteed in respect of franchisees that would not, without the guarantee, have been granted the loans. The directors believe that if the guarantees are ever called on, the Company will be able to recover the amounts paid upon disposal of the stores. Other Set out below are details of a claim which, although remote and not material, the Company considers should be disclosed as they are not disclosed elsewhere. The Company believes that no provision is required as it is not probable that a future sacrifice of future economic benefit will be required or the amount is not capable of reliable measurement. There are French legal proceedings by a competitor, Speed Rabbit Pizza (SRP), against subsidiary, Domino’s Pizza France (DPF). SRP alleges that DPF breached French laws governing payment time limitations and lending, by allowing its franchisees more time than they had under their existing contracts to pay DPF for goods and services, thereby giving DPF franchisees an unfair competitive advantage. SRP claims significant damages for lost royalty income from SRP franchisees and harm to SRP’s image but full details have not yet been provided. DPF believes that there is no legal basis for liability or the damages claimed and will vigorously defend the claim. 41. REMUNERATION OF AUDITORS 41.1 Auditor of the parent entity Audit or review of the consolidated financial statements 217,540 203,000 217,540 203,000 2012 $’000 2011 $’000 41.2 Other audits Europe 136,871 150,525 Taxation services 12,909 12,678 149,780 163,203 The auditor of Domino’s Pizza Enterprises Limited is Deloitte Touche Tohmatsu. 42. EVENTS AFTER THE REPORTING PERIOD On 14 August 2012, the directors declared a final dividend for the financial year ended 1 July 2012 as set out in note 31. Other than the matters discussed above, there has not arisen in the interval between the end of the financial year and the date of this report any item, transaction or event of a material and unusual nature likely, in the opinion of the directors of the Company, to affect significantly the operations of the Consolidated entity, the results of those operations, or the state of affairs of the Consolidated entity, in future financial years. 84 ANNUAL REPORT 2012 DOMINO’S PIZZA ENTERPRISES LIMITED
43. PARENT ENTITY INFORMATION 43.1 Financial position Assets Current assets 49,686 28,825 Non-current assets 99,924 109,015 Total assets 149,610 137,840 2012 $’000 2011 $’000 Liabilities Current liabilities 34,466 37,281 Non-current liabilites 6,389 3,121 Total liabilities 40,855 40,402 Equity Issued capital 69,872 64,523 Retained earnings 37,399 31,433 Reserves Equity-settled share-based benefits 1,898 1,578 Hedging (415) (96) Total equity 108,754 97,438 43.2 Financial performance 2012 $’000 2011 $’000 Profit for the year 23,331 19,516 Other comprehensive income 496 326 Total comprehensive income 23,827 19,842 43.3 Contingent liabilities of the parent entity 2012 $’000 2011 $’000 Guarantees 7,258 14,469 Guarantees are provided to third party financial institutions in relation to franchisee loans. The amount disclosed as a contingent liability represents the amounts guaranteed in respect of franchisees that would not, without the guarantee, have been granted the loans. The directors believe that if the guarantees are ever called on, the Company will be able to recover the amounts paid upon disposal of the stores. 44. APPROVAL OF FINANCIAL STATEMENTS The financial statements were approved by the Board of directors and authorised for issue on 13 August 2012. ANNUAL REPORT 2012 DOMINO’S PIZZA ENTERPRISES LIMITED 85
Page 1 and 2:
Theatre Of Food ANNUAL REPORT 2012
Page 3 and 4:
RECORD GROWTH IN EUROPE - TOTAL NET
Page 5 and 6:
CHAIRMAN’S message Embracing tech
Page 7 and 8:
Financial PERFORMANCE Investing in
Page 9 and 10:
Digital Australia and New Zealand O
Page 11 and 12:
New stores new designs Australia an
Page 13 and 14:
The Future We remain focused and de
Page 15 and 16:
Healthier CHOICES A rally to health
Page 17:
Healthier ingredients Domino’s pr
Page 20 and 21:
Theatre Of Food For THE LOve of FOO
Page 22 and 23:
Connecting Through technology Techn
Page 24 and 25:
FRANCE AND BELGIUM To interact with
Page 26 and 27:
Domino’s Pizza Enterprises Ltd 8t
Page 28 and 29:
KEY FINANCIAL INDICATORS 2006 2007
Page 30 and 31:
CORPORATE GOVERNANCE STATEMENT CONT
Page 32 and 33:
Page 34 and 35:
Page 36 and 37:
DIRECTORS’ REPORT The directors o
Page 38 and 39:
DIRECTORS’ REPORT CONTINUED Share
Page 40 and 41:
DIRECTORS’ REPORT CONTINUED REMUN
Page 42 and 43:
DIRECTORS’ REPORT CONTINUED REMUN
Page 44 and 45:
DIRECTORS’ REPORT CONTINUED BONUS
Page 46 and 47:
DIRECTORS’ REPORT CONTINUED The f
Page 48 and 49:
AUDITOR’S INDEPENDENCE DECLARATIO
Page 50 and 51:
INDEPENDENT AUDITOR’S REPORT CONT
Page 53 and 54:
INDEX TO THE FINANCIAL REPORT CONTE
Page 55 and 56:
CONSOLIDATED STATEMENT OF FINANCIAL
Page 57 and 58:
CONSOLIDATED STATEMENT OF CASH FLOW
Page 59 and 60: 2.2 Standards and Interpretations a
Page 61 and 62: 3. SIGNIFICANT ACCOUNTING POLICIES
Page 63 and 64: 3.8.5 Dividend and interest revenue
Page 65 and 66: For certain categories of financial
Page 67 and 68: 3.20 Impairment of tangible and int
Page 69 and 70: 4. CRITICAL ACCOUNTING JUDGEMENTS A
Page 71 and 72: 6.3 Segment assets and liabilities
Page 73 and 74: 10. INCOME TAXES 10.1 Income tax re
Page 75 and 76: 10.4 Deferred tax balances 2012 OPE
Page 77 and 78: 11. PROFIT FOR THE YEAR FROM CONTIN
Page 79 and 80: 13. TRADE AND OTHER RECEIVABLES Tra
Page 81 and 82: Ageing of loans to franchisees Amou
Page 83 and 84: 18. PROPERTY, PLANT AND EQUIPMENT 2
Page 85 and 86: Key assumptions The key assumptions
Page 87 and 88: 22. TRADE AND OTHER PAYABLES Trade
Page 89 and 90: 26. OTHER LIABILITIES 2012 $’000
Page 91 and 92: 29. RESERVES Foreign currency trans
Page 93 and 94: 32.1.1 Gearing ratio Debt (i) 14,04
Page 95 and 96: The following table details the val
Page 97 and 98: 32.9 Liquidity risk management The
Page 99 and 100: The following share-based payment a
Page 101 and 102: 34. KEY MANAGEMENT PERSONNEL COMPEN
Page 103 and 104: The compensation of each member of
Page 105 and 106: Executive share options of Domino
Page 107 and 108: 36. ACQUISITION OF BUSINESSES NAME
Page 109: 37.1 Reconciliation of profit for t
Page 113 and 114: TWENTY LARGEST HOLDERS OF QUOTED EQ
Page 115 and 116: CORPORATE DIRECTORY DIRECTORS Ross
Page 117 and 118: ANNUAL REPORT 2012 DOMINO’S PIZZA
show all

2012 Annual Report - Domino's Pizza

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?