2012 Annual Report - Domino's Pizza

NOTES TO THE FINANCIAL STATEMENTS
1. GENERAL INFORMATION
Domino’s Pizza Enterprises Limited is a
public company listed on the Australian Stock
Exchange (trading under the symbol ‘DMP’),
incorporated and operating in Australia, New
Zealand, France, Belgium and The Netherlands.
Domino’s Pizza Enterprises Limited’s
registered office and its principal
place of business are as follows:
Registered office
8th Floor, TAB Building
240 Sandgate Road
Albion
Brisbane
Queensland 4010
Tel: +61 (0)7 3633 3333
Principal place of business
8th Floor, TAB Building
240 Sandgate Road
Albion
Brisbane
Queensland 4010
Tel: +61 (0)7 3633 3333
The entity’s principal activities are the operation of retail food outlets and operation of franchise services.
2. ADOPTION OF NEW AND REVISED ACCOUNTING STANDARDS
2.1 Standards and Interpretations affecting amounts reported in the current period (and/or prior periods)
The following new and revised Standards and Interpretations have been adopted in the current period and have affected the amounts reported in these
financial statements. Details of other Standards and Interpretations adopted in these financial statements that have had no effect on the amounts reported
are set out in section 2.2.
Standards affecting presentation and disclosure
Amendments to AASB 7
‘Financial Instruments: Disclosure’
Amendments to AASB 101
‘Presentation of Financial Statements’
AASB 1054
‘Australian Additional Disclosures’
and AASB 2011-1 ‘Amendments to Australian
Accounting Standards arising from Trans-
Tasman Convergence Project’
AASB 124
‘Related Party Disclosures’
(revised December 2009)
The amendments (part of AASB 2010-4 ‘Further Amendments to Australian
Accounting Standards arising from the Annual Improvements Project’) clarify
the required level of disclosures about credit risk and collateral held and provide
relief from disclosures previously required regarding renegotiated loans.
The amendments (part of AASB 2010-4 ‘Further Amendments to Australian Accounting
Standards arising from the Annual Improvements Project’) clarify that an entity may
choose to present the required analysis of items of other comprehensive income either
in the statement of changes in equity or in the notes to the financial statements.
AASB 1054 sets out the Australian-specific disclosures for entities that have adopted
Australian Accounting Standards. This Standard contains disclosure requirements that are
in addition to IFRSs in areas such as compliance with Australian Accounting Standards, the
nature of financial statements (general purpose or special purpose), audit fees, imputation
(franking) credits and the reconciliation of net operating cash flow to profit (loss).
AASB 2011-1 makes amendments to a range of Australian Accounting Standards and
Interpretations for the purpose of closer alignment to IFRSs and harmonisation between
Australian and New Zealand Standards. The Standard deletes various Australian-specific
guidance and disclosures from other Standards (Australian-specific disclosures retained are
now contained in AASB 1054), and aligns the wording used to that adopted in IFRSs.
The application of AASB 1054 and AASB 2011-1 in the current year has
resulted in the simplification of disclosures in regards to audit fees, franking
credits and capital and other expenditure commitments as well as an additional
disclosure on whether the Group is a for-profit or not-for-profit entity.
AASB 124 (revised December 2009) has been revised on the following two aspects:
(a) AASB 124 (revised December 2009) has changed the definition of a related
party and (b) AASB 124 (revised December 2009) introduces a partial exemption
from the disclosure requirements for government-related entities.
The Company and its subsidiaries are not government-related entities. The application of the
revised definition of related party set out in AASB 124 (revised December 2009) in the current
year has resulted in the identification of related parties that were not identified as related parties
under the previous Standard. Specifically, associates of the ultimate holding company of the
Company are treated as related parties of the Group under the revised Standard whilst such
entities were not treated as related parties of the Group under the previous Standard. The related
party disclosures set out in note 35 to the consolidated financial statements have been changed
to reflect the application of the revised Standard. Changes have been applied retrospectively.
Standards and Interpretations affecting the reported results or financial position
There are no new and revised Standards and Interpretations adopted in these financial statements affecting the reporting results or financial position.
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ANNUAL REPORT 2012 DOMINO’S PIZZA ENTERPRISES LIMITED