prospectus for - Pumpkin Patch investor relations

PUMPKIN PATCH LIMITED & SUBSIDIARIESNOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTSFOR THE 6 MONTHS ENDED 31 JANUARY 2004 (CONTINUED)13. Investments in SubsidiariesInvestments in subsidiaries are as follows:Interest held by the groupAudited By31 January 31 July 31 December2004 2003 2002Torquay Enterprises Limited 100% 100% 100% PricewaterhouseCoopersPumpkin Patch Originals Limited 100% 100% 100% PricewaterhouseCoopersPumpkin Patch Pty Limited 100% 100% 100% PricewaterhouseCoopersPumpkin Patch Limited (UK) 100% 100% 100% PricewaterhouseCoopersThe Catalogue Studio Pty Limited 100% 100% 100% PricewaterhouseCoopersAll subsidiary entities have a balance date of 31 July. Pumpkin Patch Pty Limited and The Catalogue Studio Pty Limited areincorporated in Australia. Pumpkin Patch Limited (UK) is incorporated in the United Kingdom. All other subsidiary entities areincorporated in New Zealand.The principal activities of the subsidiaries are:Torquay Enterprises LimitedPumpkin Patch Originals LimitedPumpkin Patch Pty LimitedPumpkin Patch Limited (UK)The Catalogue Studio Pty LimitedInvestment companyClothing retailerHolding/Administration functionsClothing retailerNon tradingAcquisition of SubsidiaryOn 1 January 2002 the Group acquired 100% of the shares of Pumpkin Patch Limited (UK) for cash consideration of $40,789.From 1 January 2002 the operating results of Pumpkin Patch Limited (UK), consisting of an operating deficit after taxation of$2,210,349, were included in the Group statements of financial performance for the year ended 31 December 2002.Summary of the effect of acquisition of SubsidiaryGroup31 Jan 2004 31 July 2003 31 Dec 2002$000 $000 $000Net assets acquired:Bank balances - - 547Net current assets - - 2,797Fixed assets - - 2,699Borrowings - - (7,540)- - (1,497)Goodwill on acquisition - - 1,538Consideration paid - - 41Bank balances acquired - - 547Net Cash Impact of Acquisition - - 50661