PUMPKIN PATCH LIMITED & SUBSIDIARIES NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE 6 MONTHS ENDED 31 JANUARY 2004 (CONTINUED)
31 Jan 2004
31 July 2003
31 Dec 2002
Not Later than One Year
Later than one year and not later than two years
Later than two years and not later than five years
Later than five years
18. Operating Lease Obligations
Obligations payable after balance date on non-cancellable operating leases as follows:
19. Related Party Transactions
The Group has entered into certain transactions in the form of recharging of expenses and overheads with its subsidiaries. Details of the identity of subsidiaries are disclosed in Note 13 – Investments in subsidiaries.
The Group has paid management fees of $53,270 (2003: $54,211, 2002: $36,036) to Emery Hill Limited which is owned by a Director. These were made on normal commercial terms and there are no outstanding balances at period end.
The Group has paid rent to One Fine Day Limited of $28,380 (2003: $33,110, 2002: $56,760). One Fine Day is owned equally by three shareholders (Kezza Family Trust, Simdec Trust and The Opito Family Trust) of Pumpkin Patch Limited.These were made on normal commercial terms and there are no outstanding balances at period end.
T h e G r o u p h a s m a d e p u r c h a s e s f r o m E s p i e s S h o p f i t t e r s L i m i t e d o f $ 1 , 0 7 1 , 7 0 0 . E s p i e s S h o p f i t t e r s i s 4 8 . 7 5 %
beneficially owned by Kezza Family Trust, a shareholder of Pumpkin Patch Limited. These were made on normal
commercial terms. At period end $529,781 was outstanding.
The Group has advanced funds to The Pumpkin Patch Limited Employee Share Scheme Trust. The amount outstanding at period end is $1,199,240 (2003: $1,199,240, 2002: $1,199,240). The parent company has also advanced funds to selected employees. The amount outstanding at period end is $521,500 (2003: $448,000, 2002: $448,000).