2012 Annual Report - Domino's Pizza

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NOTES TO THE FINANCIAL STATEMENTS CONTINUED 14. OTHER FINANCIAL ASSETS Investments carried at fair value: Non-current Other 8 12 8 12 Loans carried at amortised cost: Current Loans to franchisees (i) 2,449 1,361 2,449 1,361 Non-current Loans to franchisees (i) 6,407 9,996 Allowance for doubtful loans (969) (59) 5,438 9,937 Financial guarantee contracts: Non-current Financial guarantee receivable 252 566 252 566 2012 $’000 2011 $’000 8,147 11,876 Current 2,449 1,361 Non-current 5,698 10,515 8,147 11,876 (i) Before providing any new loans to franchisees, the Consolidated entity reviews the potential franchisee’s credit quality, which is determined by reviewing a business plan and the projected future cash flows for that store, to ensure the franchisee is able to meet its interest repayments on the loan. On average the interest charged is based on the Westpac Interest Loan Rate (‘WILR’) plus 3% margin in Australia and New Zealand and the average interest charged in France is 5.7% and in The Netherlands is 7.6%. Included in the Consolidated entity’s balance are loans to franchisees with a carrying amount of $969 thousand (2011: $59 thousand), which are past due at reporting date of which the Consolidated entity has provided for these amounts. The Consolidated entity holds the store assets as collateral over these balances. Ageing of loans to franchisees Franchisee Loans 8,856 11,357 Allowance for doubtful loans (969) (59) 7,887 11,298 In determining the recoverability of the loans to franchisees, the Consolidated entity considers any amount that has been outstanding at reporting date. Accordingly, management believe that there is no further allowance required in excess of the allowances for doubtful loans. Included in the allowance for the loans are individually impaired loans to franchisees with a balance of $969 thousand (2011: $59 thousand) for the Consolidated entity. The impairment recognised represents the difference between the carrying amount of these loan balances and the present value of the expected recoverable proceeds. The Consolidated entity holds collateral of the stores assets over these balances. 2012 $’000 2011 $’000 54 ANNUAL REPORT 2012 DOMINO’S PIZZA ENTERPRISES LIMITED
Ageing of loans to franchisees Amounts not yet due 7,887 11,298 7,887 11,298 Movement in allowance for doubtful loans Balance at the beginning of the year 59 237 Impairment losses recognised on loans 929 - Amounts written off as uncollectible - (85) Impairment losses reversed - (93) Effect of foreign currency (19) - Balance at the end of the year 969 59 15. INVENTORIES Raw materials 558 549 Finished goods 5,148 3,642 5,706 4,191 There are no inventories (2011: $nil) expected to be recovered after more than 12 months. 2012 $’000 2012 $’000 2012 $’000 2011 $’000 2011 $’000 2011 $’000 16. NON-CURRENT ASSETS CLASSIFIED AS HELD FOR SALE 2012 $’000 2011 $’000 Commissary Property – The Netherlands 704 772 704 772 ANNUAL REPORT 2012 DOMINO’S PIZZA ENTERPRISES LIMITED 55
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Theatre Of Food ANNUAL REPORT 2012
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RECORD GROWTH IN EUROPE - TOTAL NET
Page 5 and 6:
CHAIRMAN’S message Embracing tech
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Financial PERFORMANCE Investing in
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Digital Australia and New Zealand O
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New stores new designs Australia an
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The Future We remain focused and de
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Healthier CHOICES A rally to health
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Healthier ingredients Domino’s pr
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Theatre Of Food For THE LOve of FOO
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Connecting Through technology Techn
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FRANCE AND BELGIUM To interact with
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Domino’s Pizza Enterprises Ltd 8t
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KEY FINANCIAL INDICATORS 2006 2007
Page 30 and 31: CORPORATE GOVERNANCE STATEMENT CONT
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: 13. TRADE AND OTHER RECEIVABLES Tra
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 and 110: 37.1 Reconciliation of profit for t
Page 111 and 112: 43. PARENT ENTITY INFORMATION 43.1
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
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2012 Annual Report - Domino's Pizza

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