X hits on this document

305 views

0 shares

0 downloads

0 comments

68 / 104

Carrying

Fair

Carrying

Fair

Carrying

Fair

Value

Value

Value

Value

Value

Value

$000

$000

$000

$000

$000

$000

PUMPKIN PATCH LIMITED & SUBSIDIARIES NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE 6 MONTHS ENDED 31 JANUARY 2004 (CONTINUED)

4

4

4

4

3

3

-

(1,814)

-

(1,369)

-

(2,988)

Assets

Investments

Unrecognised

Foreign exchange contracts

The Group anticipates that Term Liabilities will be held to maturity and that settlement at fair value is unlikely.

(b)

Fair Values

The estimated fair values of the Group’s financial assets and liabilities which differ from the carrying values are noted below:

31 January 2004

31 July 2003

31 December 2002

The following methods and assumptions were used to estimate the fair values for each class of financial instrument.

Debtors, Trade Creditors and Bank Overdraft

The carrying value of these items is equivalent to their fair value and therefore they are excluded from the table shown above.

Investments

The fair value of listed investments is estimated based on quoted market prices at balance date. The fair value of unlisted investments is estimated to be the net asset backing, as there are no quoted market prices available.

Term Liabilities

The fair value of the Group’s term liabilities is estimated based on current market rates available to the Group for debt of similar maturity.

Foreign Exchange Contracts

The fair value of these instruments is estimated based on the quoted market price of these instruments.

Guarantees and Overdraft Facilities

The fair value of these instruments is estimated on the basis that management do not expect settlement at face value to arise. The carrying value and fair value of these instruments is nil.

22. Significant Events After Balance Date

Since balance date the company has entered into an agreement to purchase the inventory, fixed assets, and

certain employee related obligations of the HBK Girl retail operation. In addition the company is also taking over the ongoing lease obligations of the operations. Settlement date was 3 May 2004.

66

Document info
Document views305
Page views305
Page last viewedSun Dec 11 06:47:26 UTC 2016
Pages104
Paragraphs4342
Words35201

Comments