The Directors Pumpkin Patch Limited Private Bag 94310, East Tamaki Pakuranga, AUCKLAND
14 May 2004
Auditors’ report for inclusion in the Prospectus
As auditors of Pumpkin Patch Limited (“the Company”) we have prepared this report pursuant to clause 42 of the First Schedule of the Securities Regulations 1983 for inclusion in a Prospectus to be dated 14 May 2004.
The Company’s Directors are responsible for the preparation and presentation of:
the financial statements which give a true and fair view of the state of affairs of Pumpkin Patch Limited and its subsidiaries (“the Group”) as at 31 January 2004 and 31 July 2003 and its financial performance and cash flows for the periods ended on that date, as required by clauses 23 to 38 of the First Schedule of the Securities Regulations 1983;
the summary of financial statements of the Group for the years ended 31 December 1999, 2000, 2001 and 2002, for the seven months ended 31 July 2003 and for the six months ended 31 January 2004, as required by clauses 8(2) and 8(3) of the First Schedule of the Securities Regulations 1983; and
the prospective financial information of the Group for the years ending 31 July 2004 and 31 July 2005, including the assumptions on which they are based.
We are responsible for expressing an independent opinion on the financial statements of the Group for the six months ended 31 January 2004 and for the seven months ended 31 July 2003 presented by the Directors and reporting our opinion in accordance with clause 42(1) of the First Schedule of the Securities Regulations 1983.
We are also responsible for reporting, in accordance with clauses 42(1)(g) and 42(2) of the First Schedule of the S e c u r i t i e s R e g u l a t i o n s 1 9 8 3 , o n t h e f o l l o w i n g m a t t e r s w h i c h h a v e b e e n p r e p a r e d a n d p r e s e n t e d b y t h e D i r e c t o r s : the amounts included in the summary of financial statements of the Group for the years ended 31 December 1999, 2000, 2001 and 2002, for the seven months ended 31 July 2003 and for the six months ended 31 January 2004; and the prospective financial information of the Group for the years ending 31 July 2004 and 31 July 2005. (a) (b)
We have no relationship with or interests in the Company or any of its subsidiaries other than in our capacities as auditors and accounting advisers.
Basis of opinion on the financial statements
An audit of the financial statements includes examining, on a test basis, evidence relevant to the amounts and disclosures in the financial statements. It also includes assessing:
the significant estimates and judgements made by the Directors in the preparation of the financial statements; and
whether the accounting policies used and described on pages 49 to 52 are appropriate to the circumstances of the Group and Company, consistently applied and adequately disclosed.
We have conducted our audit in accordance with generally accepted auditing standards in New Zealand. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatements, whether caused by fraud or error. In forming our opinion we also evaluated the overall adequacy of the presentation of the information in the financial statements.