1086 AnnRep-Investment S04-3 - Pumpkin Patch investor relations

PUMPKIN PATCH LIMITED & SUBSIDIARIESNOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTSFOR THE 12 MONTHS ENDED 31 JULY 2004 (CONTINUED)16. Contingent LiabilitiesGroup and Parent CompanyThe Company has guaranteed, together with subsidiary companies, the indebtedness of PumpkinPatch Limited and subsidiaries at 31 July 2004, together with, in all cases, interest thereon under a deedof guarantee dated 18 April 1996. The deed with the ANZ National Bank Limited provides for the issue ofsecurities in respect of indebtedness from time to time of Pumpkin Patch Limited and/or anyguaranteeing subsidiary. At 31 July 2004 the total indebtedness guaranteed by the deed amounted to$8,165,004 (2003 - $32,202,508).Other guarantees held by ANZ National Bank Limited include rent guarantees to certain landlordsamounting to $1,468,352 (2003: $1,030,390), rent guarantees provided to the landlords of a subsidiary,Pumpkin Patch Limited (UK), amounting to $1,216,646 (2003: $1,250,442), and a guarantee of $75,000(2003: nil) to the NZX.The amount of outstanding liabilities under Letters of Credit at 31 July 2004 amounted to nil(2003: $34,421).17. Capital Expenditure CommitmentsThe Group has commitments for future capital expenditure at 31 July 2004 amounting to $1,830,000(2003 - $418,000).18. Operating Lease ObligationsObligations payable after balance date on non-cancellable operating leases as follows:GroupParent31 July 2004 31 July 2003 31 July 2004 31 July 2003$000 $000 $000 $000Not later than one year 25,851 19,865 1,622 1,552Later than one year and not later than two years 18,789 16,486 1,518 1,475Later than two years and not later than five years 28,916 20,509 4,555 4,424Later than five years 10,071 1,606 6,050 1,60683,627 58,466 13,745 9,05749