1、 Level 2,315 Ferntree Gully Rd,Mount Waverley VIC 3149,Australia Ph:(03)9081 9100 Fax:(03)9081 9199 Email:investor-.au .au ABN 94 063 886 199 25 OCTOBER 2024 ANNUAL REPORT Toys”R”Us ANZ Limited(ASX:TOY)(TOY or Company)attaches its Annual Report for Shareholders attention and advises that the report
2、released earlier today should be disregarded.This Announcement has been approved for release by the Chair of the Board.About Toys“R”Us ANZ Limited ToysRUs ANZ Limited(ASX:TOY)is an Australian-based company with a vision of A lifetime journey with every child.The Company trades under 4 leading e-comm
3、erce brands:Toys“R”Us,Babies“R”Us,RIOT and Hobby Warehouse.The Company changed its name from Funtastic Limited to ToysRUs ANZ Limited on 24 June 2021.Further information is available at .au.For further information please contact Toys“R”Us ANZ Email:investor-.au For personal use onlyFor personal use
4、only2024ANNUALREPORTTOYS“R”USANZ LIMITEDFor personal use onlyFor personal use onlyContentsOur Story 01Chair and CEOs Letter 02Directors Report 04Auditors Independence Declaration 24Financial Statements 25Consolidated Entity Disclosure Statement 86Directors Declaration 87Independent Auditors Report 8
5、8Shareholder Information 94Corporate Directory 97For personal use onlyFor personal use onlyAt Toys“R”Us ANZ Limited,we believe that creativity and play have the power to change lives.Play enables children and adults alike to develop their imagination,collaborate,problem solve,explore and create.Were
6、 proud to be home to some of Australias most trusted brands.Our house of brands enriches every stage of a childs life journey,from infancy through to adulthood.Our Story01Toys“R”Us ANZ LimitedAnnual Report 202401For personal use onlyFor personal use onlyChair and CEOs LetterDear Shareholders,On beha
7、lf of the Board,it is a pleasure to present the Toys“R”Us ANZ Limited FY24 Annual Report.As we reflect on FY24,we are pleased to report that TOY has made significant strides in addressing the challenges weve faced to reposition the Company.During the year we successfully executed several key initiat
8、ives as outlined in our transformation plan:Completed our exit from the UK market,allowing us to focus our resources on more promising opportunities.Acquired the assets of RIOT Art and Craft,expanding our product offering and strengthening our position in the creative play segment.Significantly redu
9、ced overheads,renegotiating key contracts,right sizing our cost base to better align with current operations and future goals.Cleared a significant amount of obsolete and aged inventory which,although impacting short-term profitability in H1,has set the stage for improving margins into the future.Ou
10、r financial performance this year reflects both the challenges weve faced and the progress weve made.While we experienced a 65%reduction in revenue year on year,gross profit dropped by only 27%,while our aggressive cost-cutting measures reduced operating costs by$4.1 million and delivered a stable a
11、nd scalable cost base.Most importantly,we saw the,overall gross margin in the ANZ B2C business growing from 16%in H1 to 33%in the second half of the year indicating that our strategies are beginning to yield positive results.The leaner underlying cost base and higher margins,combined with optimized
12、inventory management will allow us to operate more efficiently and productively and respond more nimbly to market demands.While our journey to full recovery is ongoing,we believe that we have laid a solid foundation for future growth and profitability.02For personal use onlyFor personal use onlyThe
13、Board and Management Team remain committed to creating value for shareholders through delivering our strategic pillars:House of Brands:investment in our core brands,further enhancing our product range,with a particular focus on the Baby category and our newly acquired art and crafts segment.Adding c
14、omplementary brands to the portfolio through acquisition or organic growth.Channels to Market:Introducing new ways to shop online,exploring new channels to market and expanding wholesale channels.Operational Excellence:Using technology to support scalability and to leverage data to strengthen our ma
15、rketing initiatives and increase market share.The success of our strategic pillars is underpinned by delivering outstanding customer experience.We have implemented same-business-day shipping as well as improving on all our customer service metrics.We have improved marketing efficiency and effectiven
16、ess through the implementation of new systems and processes.With a database of over 1.3 million loyal customers and some of the most well-known and trusted brands in the region,we have a strong base upon which to build.Our goal of growing market share in Toys and Hobbies to 5%over the next three yea
17、rs remains firmly in our sights.During the year Mr Kevin Moore,Chair of the Board,stepped down and we note our appreciation for his contribution to TOY.Ms Teresa Smith joined our Board as Non-Executive Director bringing an impressive marketing,retail and ecommerce skillset.We express our gratitude a
18、nd thanks to our dedicated team for their hard work and resilience during this transformative period.We also extend thanks to you,our loyal shareholders for your continued faith in our vision.While challenges remain,we are confident that the significant steps taken this year have position TOY for a
19、stronger future.We look forward to delivering increased value to our customers,partners,and shareholders.Yours sincerely,Kelly Humphreys Penny Cox Chair of the Board CEOToys“R”Us ANZ LimitedAnnual Report 202403For personal use onlyFor personal use onlyDirectors ReportThe Directors present their repo
20、rt,together with the financial statements,on the consolidated entity(referred to hereafter as the Group)consisting of Toys“R”Us ANZ Limited(referred to hereafter as the Company)and the entities it controlled at the end of,or during,the year ended 31 July 2024.DirectorsThe following persons were Dire
21、ctors of Toys“R”Us ANZ Limited during or since the end of the year:Kelly Humphreys Chair and Independent Non-Executive Director(appointed 5 October 2023 and Chair effective 21 December 2023);Teresa Smith Independent Non-Executive Director(appointed on 1 April 2024);John Tripodi Independent Non-Execu
22、tive Director;Kevin Moore Independent Non-Executive Director(Chair until 21 December 2023,resigned on 1 April 2024);Silvio Salom Independent Non-Executive Director(resigned on 2 January 2024);and Penny Cox Chief Executive Officer(and Managing Director from 24 August 2023 to 18 October 2023).Principa
23、l activitiesToys“R”Us ANZ Limited is an Australian based listed company with a vision to enrich the lives of people by encouraging exploration,creativity and living life more fully through the enjoyment of toys,hobbies,art and craft.DividendsThere were no dividends paid,recommended or declared durin
24、g the current or previous financial year.Review of operationsFinancial results 31 July 2024$00031 July 2023$000Change%Revenue from continuing operations7,66821,642(64.6%)EBITDA from continuing operations(6,080)(9,510)(36.1%)Profit/(Loss)before Tax from continuing operations(11,818)(26,107)(54.7%)Net
25、 profit/(loss)after tax from continuing operations(11,501)(25,791)(55.4%)Basic EPS(cents)from continuing operations(11.24)(29.89)(62.4%)ROE1283.9%(183.1%)255.0%Net cash balance/(Net debt)(17,496)(10,845)61.3%Gearing2(119.9%)830.7%(114.4%)1.NPAT/average shareholder equity.2.Debt/shareholder equity.Th
26、e Groups statutory loss after income tax for the year ended 31 July 2024 was$19.4 million(2023:Loss after income tax$32.7 million).04For personal use onlyFor personal use onlyOperating ResultsDuring FY24,the Group achieved Sales Revenues of$17.4 million($7.7 million from continuing operations,$9.8 m
27、illion from discontinued operations)as compared to$37.3 million in the previous comparative period($21.6 million from continuing operations,$15.7 million from discontinued operations).During FY24,the reduction in revenue compared to the previous year,in part,was due to a strategic decision to cutbac
28、k unprofitable sales and focus on higher-margin customers and orders.In H2,the Company completed the exit from the unsustainable UK market,allowing for a refocus of resources on more promising opportunities,and discharging debt obligations from this business.As laid out in the Financial Report for F
29、Y23,the Company has been focused on initiatives that drive the business towards profitability:reduction of operating costs,focus on margin improvement,exiting the UK business,clearing of the aged inventory,and upgrade of business systems,all which have been achieved in FY24.At the beginning of FY24,
30、Toys“R”Us ANZ Limited welcomed a new CEO,Penny Cox,marking the start of a significant transformation in the Companys leadership and strategic direction.The CEO has since recruited a fresh leadership team,bringing in new perspectives and expertise.The Board also appointed a new Chair,Kelly Humphreys,
31、and a new board member,Teresa Smith.The refreshed Board and management team has worked together to deliver significant progress in the turnaround of the Company.Aggressive cost-rationalisation reduced operating costs by approximately$6.0 million from FY23,delivering a more stable and scalable cost b
32、ase.The Companys focus on clearing aged inventory and optimizing inventory management for new products,while impacting short-term profitability in FY24,has set the stage for improving margins.The acquisition of RIOT Art and Craft in H2 has strengthened the House of Brands business model.Integration
33、of RIOT into the TOY operation was completed swiftly and affordably,meaning synergies between the brands have been realised almost immediately,with minimal additional cost.Importantly,overall gross margin in the ANZ B2C business grew from 16%in H1 to 33%in the second half of the year,indicating that
34、 the implemented strategies are beginning to yield positive results.Overall,EBITDA losses narrowed,despite significantly lower revenues and a challenging macro-economic environment.With the new right-sized cost base,the Company is well positioned to grow profitably in future.Outlook and Strategic Pl
35、anThe Companys efforts in FY24 were guided by three strategic pillars with notable progress made in each area,and provide a clear roadmap for progression on each in FY25 and beyond.House of Brands:Successfully acquired the assets of RIOT Art and Craft,expanding the product offering and strengthening
36、 the Companys position in the creative play,and art and craft segments.Continued investment in core brands,with a particular focus on optimising product ranges in the Toys“R”Us and RIOT Brands.FY25 and Beyond:Rebuild healthy inventory levels across all brands,new product development including Privat
37、e Label.New Channels to Market:Technical groundwork has been laid in FY24 to support a wider variety of channels to market.FY25 and beyond:Continued focus on growing existing and adding new online shopping methods,including expansion of drop-shipping and introduction of click and collect.Expansion v
38、ia RIOTs existing wholesale channel to diversify revenue streams and bring in new types of customers such as schools and childcare centres.Toys“R”Us ANZ LimitedAnnual Report 202405For personal use onlyFor personal use onlyDirectors Report(Cont.)Operational Excellence:Significantly reduced overheads
39、by renegotiating key contracts and right-sizing the cost base to better align with current operations and future goals.Aggressive cost-cutting and efficiency-enhancing measures reduced operating costs by$4.4 million(34%),which excludes the savings on the partial surrender of the Clayton lease.Contin
40、ued rebuilding of the technology and data stack to support scalability and leverage data for stronger marketing initiatives.Migration to Shopify for all websites has improved conversion rates and provided a more scalable platform.Enhanced measurement of operational KPIs and effectiveness to drive da
41、ta-informed decision-making.The Company maintains an active database of over 1.3 million loyal customers,which has grown with the acquisition of RIOT.FY25 and beyond:Continue to deliver an excellent customer experience to all customers.The Companys automated fulfilment centre ships orders on the sam
42、e-business-day if ordered before 2pm,and CSAT Scores(our measure of customer satisfaction)have been consistently above benchmark of 4.5(out of 5).The Company maintains its goal to grow its market share in Toys and Hobbies to 5%over the next three years,this remains firmly in sight given the strong f
43、oundation laid in FY24.While challenges remain,the significant steps taken this year have positioned Toys“R”Us ANZ Limited for a stronger future.The Company is now more agile and better equipped to respond to market demands,setting the stage for improved performance and increased value creation for
44、customers,partners,and shareholders alike.Funding and Capital DevelopmentsSince the half year,the Group has successfully raised new capital and funding from a convertible securities facility,a summary is below:Up to$4.2 million Additional Funding from Mercer Street Global FundFollowing their initial
45、 equity investment of$200,000,plus the provision of an unsecured$600,000 Loan,US-based Investment Fund Mercer agreed to provide up to a further$4.2 million in funding via Convertible Securities subject to the mutual agreement of the parties and subject to shareholder approval being provided.TRUK loa
46、n FacilityUnder the Exit Agreements the Company will transfer ownership of all UK business assets to TRUK in settlement of its US$1.8 million outstanding loan balance,which TRUK provided to support the transition of the UK business.TRUK has agreed to release the Group from all remaining liabilities
47、and obligations.Private Placement of$0.6 millionIn February 2024,the Group raised$550,000 through a placement to new and existing institutional and sophisticated investors.Successful Completion of$2.49 million PlacementOn 9 July 2024,The Group announced it had secured$2.49 million through a placemen
48、t to new and existing institutional and sophisticated investors.This placement was subject to shareholder approval,which was received on 23 August 2024.06For personal use onlyFor personal use onlySignificant changes in the state of affairsApart from the developments outlined above,there were no sign
49、ificant changes in the state of affairs of the group during the financial year ended 31 July 2024.Matters subsequent to the end of the financial yearOn 23 August 2024,the shareholders approved the drawdown of up to$2.715 million from the convertible securities facility,subject to further agreement b
50、etween the parties.On 23 August 2024,the Group raised$2.49 million through a placement to new and existing institutional and sophisticated investors.On 20 September 2024,the Company received a letter from the lender waiving the requirement to comply with the financial covenants of the facility agree
51、ment for the period ended 31 July 2024.No other matter or circumstance has arisen since 31 July 2024 that has significantly affected,or may significantly affect the Groups operations,the results of those operations,or the Groups state of affairs in future financial years.Likely developments and expe
52、cted results of operationsInformation on likely developments in the operations of the Group and the expected results of operations have not been included in this report because the Directors believe it would be likely to result in unreasonable prejudice to the Group.Environmental regulationThe Group
53、 is not subject to any significant environmental regulation under Australian Commonwealth or State law.Toys“R”Us ANZ LimitedAnnual Report 202407For personal use onlyFor personal use onlyDirectors Report(Cont.)Information on DirectorsKelly HumphreysChair and Independent Non-Executive Director(appoint
54、ed 5 October 2023 and Chair effective 21 December 2023)Experience and expertise:Ms Humphreys is an experienced ASX director,currently serving as Chair of Raiz Invest Limited(ASX:RZI)and Non-Executive Director and Chair of Audit,Risk and Finance Committees on the Boards of The National Stock Exchange
55、(ASX:NSX)and Latrobe Health Services.Prior to her board career,Ms Humphreys had an extensive senior executive career in insurance and lending and has deep technical expertise in operations,risk management and governance.She brings a strong commercial approach to achieving objectives in complex regul
56、atory environments and demonstrated ability in engaging stakeholders and working effectively to deliver business growth and improved performance.Ms Humphreys holds a Master of Management,a Diploma of Financial Services and is a fellow member of the Australian Institute of Company Directors.Other cur
57、rent directorships:National Stock Exchange of Australia(ASX:NSX),Raiz Invest(ASX:RZI)Former directorships(last three years):Victory Office Limited(ASX:VOL)from 1 December 2021 to 23 May 2022Special responsibilities:NoneInterests in shares:350,000Interests in options:NoneInterests in rights:818,18208
58、For personal use onlyFor personal use onlyTeresa SmithIndependent Non-Executive Director (appointed 1 April 2024)Experience and expertise:Ms Smith is highly skilled in building and enhancing brand equity,with a proven track record in structuring and empowering teams to achieve impactful results.She
59、is recognised as an expert in multi-channel marketing,adept at developing and executing comprehensive strategies that drive brand awareness and foster deep customer engagement.Ms Smith is the former Head of Marketing at Country Road Group,former Brand Manager and Digital Marketing Manager at Bunning
60、s and is currently a Non-Executive Deputy Chair of the Yea&District Memorial Hospital,and Non-Executive Director of Urban Camp.Other current directorships:NoneFormer directorships(last three years):NoneInterests in shares:NoneInterests in options:NoneInterests in rights:NoneJohn TripodiIndependent N
61、on-Executive DirectorExperience and expertise:John is a business leader with extensive multinational FMCG experience in various strategic and operational roles with a track record of championing innovative brand strategies that deliver successful commercial outcomes.He is currently the CEO of the di
62、versified sport,entertainment and consumer lifestyle agency,Twenty3 Group.Prior to co-founding the Twenty3 Group,John held senior sales and marketing roles with Mars Inc.before moving into general management with the LOral Group.Other current directorships:NoneFormer directorships(last three years):
63、NoneSpecial responsibilities:Chair of the Audit and Risk CommitteeInterests in shares:147,444Interests in options:NoneInterests in rights:868,182Toys“R”Us ANZ LimitedAnnual Report 202409For personal use onlyFor personal use onlyDirectors Report(Cont.)Other current directorships quoted above are curr
64、ent directorships for listed entities only and excludes directorships of all other types of entities,unless otherwise stated.Former directorships(last three years)quoted above are directorships held in the last three years for listed entities only and excludes directorships of all other types of ent
65、ities,unless otherwise stated.Company secretaryKim Larkin is the Company Secretary of the Group.Kim is the Head of Corporate Services for Boardroom Pty Limiteds Queensland office and currently acts as Company Secretary for various ASX listed and unlisted companies in Australia.Kim is an experienced
66、business professional with 23 years experience in banking and finance and six years as in-house Company Secretary of an ASX 300 company prior to joining Boardroom in April 2013.Meetings of DirectorsThe number of meetings of the Companys Board of Directors(the Board)and of each Board committee held d
67、uring the year ended 31 July 2024,and the number of meetings attended by each director were:Board of DirectorsRemuneration&Nomination Committee*Audit and Risk CommitteeAttendedHeldAttendedHeldAttendedHeldKelly Humphreys333311Teresa Smith 161611John Tripodi36362244Kevin Moore 19202233Silvio Salom 882
68、222Penny Cox22Held:represents the number of meetings held during the time the director held office or was a member of the relevant committee.*The Remuneration&Nomination Committee is part of the full board and not a separate committee from 16 May 2024.10For personal use onlyFor personal use onlyRemu
69、neration report(audited)The Directors present the Remuneration report for the Group and its controlled entities for the year ended 31 July 2024.The Remuneration report forms a part of the Directors report and has been prepared in accordance with section 300A of the Corporations Act 2001.The informat
70、ion provided in the Remuneration report has been audited by the Company auditors as required by section 308(3C)of the Corporations Act 2001.The Remuneration report outlines the remuneration policies and arrangements for the Companys Key Management Personnel(KMP)including Directors and Senior Executi
71、ves who have authority and responsibility for planning,directing and controlling the activities of the Group.Remuneration policyThe remuneration policy has been designed to align KMP objectives with the Companys strategy,culture and performance.The aim of the remuneration policy is to attract,retain
72、 and motivate KMP to sustainably manage and grow the business.Senior Executive remuneration packages include a balance of fixed remuneration and may also include,short-term cash incentives and long-term equity incentives based on key performance areas.The framework endeavours to align executive rewa
73、rd with market conditions and creating shareholder value.Principles of compensationThe Remuneration&Nomination Committee makes specific recommendations to the Board on compensation packages and other terms of employment for Directors and other Senior Executives.The Board then considers these recomme
74、ndations and makes appropriate determinations,with compensation packages set in line with market and at a level that is intended to attract and retain Directors and executives capable of managing the consolidated entitys diverse operations.Compensation of the Directors reflects the demands and respo
75、nsibilities of their role.Director remuneration is reviewed on an annual basis by the Remuneration and Nomination Committee.Compensation for Directors comprises both fixed compensation and an“at risk”component and may include share-based payments.Compensation of the Senior Executives is reviewed on
76、an annual basis by the Remuneration&Nomination Committee having regard to personal and corporate performance and relevant comparative information.Compensation for Senior Executives comprises both fixed compensation and an“at risk”component.The“at risk”component comprises a short-term incentive payme
77、nt based on a combination of the Companys results and individual performance levels,and a long-term incentive component pursuant to the Employee Incentive Plan.The payment of short-term incentives(in the form of cash bonus)is dependent on the achievement of operating and financial targets set at the
78、 beginning of each year and assessed on an annual basis by the Board.Compensation and other terms of employment for Senior Executives are formalised in service agreements.The Senior Executive remuneration is directly related to the performance of the Group through the linking of short and long-term
79、incentives to certain financial performance measures.These performance measures,as described below,are selected by the Board of Directors and considered relevant to the management of the operations of the Group and to effectively align the long-term interests of the Directors,Senior Executives and s
80、hareholders.The performance conditions are assessed periodically by the Remuneration&Nomination Committee to ensure they remain relevant.The Remuneration&Nomination Committee is part of the full Board and not a separate committee from 16 May 2024.Toys“R”Us ANZ LimitedAnnual Report 202411For personal
81、 use onlyFor personal use onlyDirectors Report(Cont.)Compensation and Company performanceEarnings Before Interest,Tax,Depreciation and Amortisation(EBITDA)has been the key performance measure for the Companys incentive plan for Senior Executives,linked to individual key performance objectives.Detail
82、s of remunerationFixed compensationThe terms of employment for all Senior Executives is based on a fixed compensation component.This fixed component is set in accordance with the market rate for a comparable role by reference to appropriate external benchmark information and having regard to an indi
83、viduals responsibilities,performance,qualifications,experience and location.Senior Executives compensation may also be reviewed on promotion.Fixed compensation includes contributions to superannuation and pension plans in accordance with relevant legislation or as contractually required.Fixed compen
84、sation is structured as a total employment cost package which may be delivered to the Senior Executive as a mix of cash and prescribed non-financial benefits at the Senior Executives discretion.There are no guaranteed pay increases in any Senior Executives contract.Benefits for termination of employ
85、ment may be payable subject to the circumstances of the termination and within the terms of the employment contract.At risk compensationShortTerm Incentives The Short-Term Incentive(STI)plan is linked to specific targets(predominantly financial)with the opportunity to earn incentives based on a perc
86、entage of fixed compensation.Performance measurements have been applied to each component of STI and accordingly,entitlements were determined with consideration to the executives level and area of responsibility.Performance against the objectives was determined and incentives and entitlements assess
87、ed against the audited financial results.Voting and comments made at the Companys 2023 Annual General Meeting(AGM)At the 2023 AGM,98.76%of the votes received supported the adoption of the remuneration report for the year ended 31 July 2023.The Company did not receive any specific feedback at the AGM
88、 regarding its remuneration practices.The table below shows the Groups earnings in the reporting period and the previous four financial periods/years as well as an indication of the Groups value over the corresponding period:Year Ended31-Jul-24Year Ended31-Jul-23Year Ended31-Jul-22Year Ended31-Jul-2
89、1Year Ended31-Jul-20Post Share ConsolidationNPAT($000)(19,393)(32,658)(24,759)(3,113)(9,313)Basic EPS(Cents)(18.94)(37.84)(28.90)(4.80)(39.40)Diluted EPS(Cents)(18.94)(37.84)(28.90)(4.80)(39.40)Total Dividends($000)Year End Share Price($)0.100.110.611.600.22Shares on Issue(No.)115,690,72886,308,6678
90、6,186,11884,835,88624,040,408Market Capitalisation($000)11,5699,49452,574135,7375,28912For personal use onlyFor personal use onlyRemuneration of Key Management PersonnelThe aggregate compensation of the key management personnel of the Group is set out below:Shortterm benefitsPost employment benefits
91、Longterm benefitsSharebased paymentsTotal$31 July 2024Cash salary and fees$Cash bonus$Nonmonetary$Super-annuation$AL/LSL&Termin.Payout$Shares Rights$Share Options$Directors:Kelly Humphreys(i)68,7506,03817,50092,288Teresa Smith(ii)21,6662,49224,158John Tripodi 65,0007,31217,50089,812Kevin Moore(iii)7
92、0,0007,81377,813Silvio Salom(iv)31,1463,42634,572Executives:Penny Cox(v)395,89732,71531,111459,723Wei Si(vi)35,00052,5009,62516,806113,931Lian Yu(vii)115,90957,95519,125192,989803,368110,45588,54616,80666,111 1,085,286(i)Appointed 5 October 2023,and Chair effective 21 December 2023.(ii)Appointed 1 A
93、pril 2024.(iii)Resigned 1 April 2024.(iv)Resigned 2 January 2024.(v)Appointed as CEO from 23 August 2023,and managing director from 24 August 2023 to 18 October 2023.(vi)Appointed as CFO on 31 March 2022,resigned 29 September 2023.(vii)Resigned 9 February 2024.Toys“R”Us ANZ LimitedAnnual Report 2024
94、13For personal use onlyFor personal use onlyDirectors Report(Cont.)31 July 2023Shortterm benefitsPost employment benefitsOther longterm employee benefitsTermin-ation Benefits$Sharebased paymentsTotal$Cash salary and fees$Cash bonus$Super-annuation$Long service leave$Shares$Share Options$Directors:Ke
95、vin Moore(iv)137,50012,38816,385166,273Louis Mittoni(ii)374,51526,25027,500278,419706,684Nicki Anderson(i)5,00052562,50068,025John Tripodi64,4176,79130,000101,208Silvio Salom(iii)43,3334,57747,910Executives:Wei Si200,83310,00022,2253,556236,614Lian Yu240,73415,00024,9134,18632,406317,2391,066,33251,
96、25098,9197,742278,41962,50078,7911,643,953(i)Appointed 25 October 2018,resigned 31 August 2022.(ii)Appointed 26 November 2020,resigned 27 July 2023.(iii)Appointed 11 November 2022.(iv)Interim CEO&Executive Chair appointed 15 May and resigned 20 July 2023.The proportion of remuneration linked to perf
97、ormance and the fixed proportion are as follows:NameFixed remunerationRemuneration linked to performance*31 July 202431 July 202331 July 202431 July 2023Non-Executive Directors:Kelly Humphreys100.0%Teresa Smith100.0%John Tripodi 100.0%100.0%Kevin Moore 100.0%100.0%Silvio Salom 100.0%100.0%Louis Mitt
98、oni 96.3%3.7%Nicki Anderson 100.0%Other Key Management Personnel:Wei Si53.9%95.8%46.1%4.2%Lian Yu70.0%95.3%30.0%4.7%Penny Cox 100.0%*Represents cash bonus.14For personal use onlyFor personal use onlyShort-term incentivesIn FY24,STI payments made in the form of cash bonus were$110,455(2023:$51,250).D
99、uring the year,100%of the eligible cash bonus was paid.Long-term incentivesIn FY24,LTI payments of$66,111 were made in the form of share rights(2023:share options$78,791).Service agreementsRemuneration and other terms of appointment and employment for the Chair,Executive Director,Non-Executive Direc
100、tors and the other Senior Executives are formalised in service agreements/employment letters.In the case of the Executive Director and Senior Executives,these allow for the provision of performance-related short-term incentives and,where eligible,participation in the Toys“R”Us ANZ Limited Employee I
101、ncentive Plan.Additionally,other benefits including car allowances can be provided to all KMP.Kelly Humphreys Chair and Independent Non-Executive Director (appointed 5 October 2023 and Chair effective 21 December 2023)Term of agreement:Full-time and no specific term.Details:Payment of a termination
102、benefit on early termination by the employer is not applicable.Teresa Smith Independent Non-Executive Director(appointed 1 April 2024)Agreement commenced:Full-time and no specific term.Details:Payment of a termination benefit on early termination by the employer is not applicable.John Tripodi Indepe
103、ndent Non-Executive DirectorTerm of agreement:Full-time permanent and no specific term.Details:Payment of a termination benefit on early termination by the employer is not applicable.Kevin Moore Independent Non-Executive Director (Chair until 21 December 2023,resigned on 1 April 2024)Term of agreeme
104、nt:Full-time and no specific term.Details:Payment of a termination benefit on early termination by the employer is not applicable.Silvio Salom Independent Non-Executive Director(resigned on 2 January 2024)Term of agreement:Full-time permanent and no specific term.Details:Payment of a termination ben
105、efit on early termination by the employer is not applicable.Penny Cox Chief Executive Officer and(Managing Director from 24 August 2023 to 18 October 2023)Term of agreement:Full-time permanent and no specific term.Details:Payment of a termination benefit on early termination by the employer,other th
106、an for gross misconduct,equal to six months base salary.Notice period six months.Toys“R”Us ANZ LimitedAnnual Report 202415For personal use onlyFor personal use onlyDirectors Report(Cont.)Wei Si Chief Financial Officer(resigned on 29 September 2023)Term of agreement:Full-time permanent and no specifi
107、c term.Details:Payment of a termination benefit on early termination by the employer,other than for gross misconduct,equal to three months base salary.Notice period three months.Lian Yu Chief Operating OfficerTerm of agreement:Full-time permanent and no specific term.Details:Payment of a termination
108、 benefit on early termination by the employer,other than for gross misconduct,equal to six months base salary.Notice period six months.The Board has considered what constitutes independence of Directors and assesses the materiality of Directors interests,positions,associations or relationships on a
109、case-by-case basis to determine whether it might influence,or reasonably be perceived to influence,in a material respect,the capacity to apply independent judgment on matters that come before the Board and to act in the best interest of the Company.All Directors are noted as being independent from t
110、he date of their appointment.Key management personnel have no entitlement to termination payments in the event of removal for misconduct.Share-based compensationThe number of ordinary shares and options/rights over ordinary shares in the Company held during the financial year by each director of Toy
111、s”R”Us ANZ Limited and each of the key management personnel of the consolidated entity,including their related entities,are set out below.Issue of sharesThere were no shares issued to Directors and other key management personnel as part of compensation during the year ended 31 July 2024.OptionsThere
112、 were no options over ordinary shares issued to Directors and other key management personnel as part of compensation that were outstanding as at 31 July 2024.There were no options over ordinary shares granted to or vested by Directors and other key management personnel as part of compensation during
113、 the year ended 31 July 2024.16For personal use onlyFor personal use onlyService rightsThe terms and conditions of each grant of service rights over ordinary shares affecting remuneration of Directors and other key management personnel in this financial year or future reporting years are as follows:
114、NameNumber of rights granted1Grant dateVesting date and exercisable dateExpiry dateExercise priceFair value per right at grant date1Kelly-Anne Humphreys272,72727/12/202327/12/202427/12/2025$0.1100Kelly-Anne Humphreys272,72727/12/202327/12/202527/12/2026$0.1100Kelly-Anne Humphreys272,72727/12/202327/
115、12/202627/12/2027$0.1100John Anthony Tripodi272,72727/12/202327/12/202427/12/2025$0.1100John Anthony Tripodi272,72727/12/202327/12/202527/12/2026$0.1100John Anthony Tripodi272,72727/12/202327/12/202627/12/2027$0.1100Silvio Salom2272,72727/12/202327/12/202427/12/2025$0.1100Silvio Salom2272,72727/12/2
116、02327/12/202527/12/2026$0.1100Silvio Salom2272,72727/12/202327/12/202627/12/2027$0.11001.The appreciation rights numbers,share price and fair value are post consolidation of shares(1:10).2.Lapsed during the year due to failure to meet vesting conditions.Service rights granted carry no dividend or vo
117、ting rights.Appreciation rights The terms and conditions of each grant of appreciation rights over ordinary shares affecting remuneration of Directors and other key management personnel in this financial year or future reporting years are as follows:NameNumber of rights grantedGrant dateVesting date
118、 and exercisable dateExpiry dateExercise priceFair value per right at grant date1Penny Cox484,84827/12/20231/09/202427/12/2028$0.1100Penny Cox484,84827/12/20231/09/202527/12/2028$0.1100Penny Cox484,84827/12/20231/09/202627/12/2028$0.11001.The appreciation rights numbers,share price and fair value ar
119、e post consolidation of shares(1:10).Appreciation rights granted carry no dividend or voting rights.Toys“R”Us ANZ LimitedAnnual Report 202417For personal use onlyFor personal use onlyDirectors Report(Cont.)Key management personnel equity holdingsThe number of ordinary shares and options/rights over
120、ordinary shares in the Company held during the financial year by each Director of Toys”R”Us ANZ Limited and each of the key management personnel of the consolidated entity,including their related entities,are set out below.Ordinary sharesThe number of shares in the Company held during the financial
121、year by each Director and other members of key management personnel of the Group,including their personally related parties,is set out below:Year ended 31 July 2024Balance at the start of the yearShares purchased on marketShares issued as remunerationOthersBalance at the end of the yearOrdinary shar
122、esKelly Humphreys350,000350,000John Tripodi11,080136,364147,444Kevin Moore(i)403,246(403,246)Silvio Salom(ii)2,482,500(2,482,500)Penny Cox(iii)1,063,8301,063,8302,896,826350,000(1,685,552)1,561,274The ordinary shares numbers are post consolidation of shares(1:10).(i)Resigned 1 April 2024.(ii)Resigne
123、d 2 January 2024.(iii)Appointed as CEO from 23 August 2023,and managing director from 24 August 2023 to 18 October 2023.Year ended 31 July 2023Balance at the start of the yearShares purchased on marketShares issued as remunerationOthersBalance at the end of the yearOrdinary shares Kevin Moore302,746
124、100,500403,246Louis Mittoni(i)29,145,582(29,145,582)John Tripodi11,08011,080Nicki Anderson(ii)107,547122,549(230,096)Silvio Salom(iii)2,482,5002,482,50029,566,955100,500122,549(26,893,178)2,896,826The ordinary shares numbers are post-consolidation of shares(1:10).(i)Resigned 27 July 2023.(ii)Resigne
125、d 31 August 2022.(iii)Appointed on 11 November 2022.18For personal use onlyFor personal use onlyShare optionsThe number of options over ordinary shares in the Company held during the financial year by each Director and other members of key management personnel of the Group,including their personally
126、 related parties,is set out below:The tables below include balances for unlisted options.Year ended 31 July 2024Balance at the start of the yearGrantedExercisedExpired/forfeited/otherBalance at the end of the yearOptions over ordinary sharesKevin Moore(i)511,447(511,447)Lian Yu169,196169,196680,643(
127、511,447)169,196The share options numbers are post consolidation of shares(1:10).(i)Resigned on 1 April 2024.The ordinary shares numbers are post consolidation of shares(1:10).Year ended 31 July 2023Balance at the start of the yearGrantedExercisedExpired/forfeited/otherBalance at the end of the yearO
128、ptions over ordinary sharesKevin Moore338,829172,618-511,447Louis Mittoni(i)1,694,146863,086-(2,557,232)-Executives-Lian Yu169,196-169,1962,202,1711,035,704-(2,557,232)680,643The share options numbers are post consolidation of shares(1:10).(i)Resigned on 27 July 2023,share options was forfeited upon
129、 resignation.Service RightsThe number of performance rights over ordinary shares in the Company held during the financial year by each director and other members of key management personnel of the Group,including their personally related parties,is set out below:Year ended 31 July 2024Balance at the
130、 start of the yearGrantedVestedExpired/forfeited/otherBalance at the end of the yearService rights over ordinary sharesKelly-Anne Humphreys818,182818,182John Tripodi50,000818,182868,18250,0001,636,3641,686,364The service rights numbers are post consolidation of shares(1:10).Toys“R”Us ANZ LimitedAnnu
131、al Report 202419For personal use onlyFor personal use onlyDirectors Report(Cont.)Year ended 31 July 2023Balance at the start of the yearGrantedExercisedExercised/forfeited/otherBalance at the end of the yearService rights over ordinary sharesNicki Anderson50,000(34,749)(15,251)John Tripodi50,00050,0
132、00100,000(34,749)(15,251)50,000The service rights numbers are post consolidation of shares(1:10).Share Appreciation RightsThe number of share appreciation rights over ordinary shares in the Company held during the financial year by each director and other members of key management personnel of the G
133、roup,including their personally related parties,is set out below:Year ended 31 July 2024Balance at the start of the yearGrantedVestedExpired/forfeited/otherBalance at the end of the yearShare appreciation rights over ordinary sharesPenny Cox1,454,5451,454,5451,454,5451,454,545The share appreciation
134、rights numbers are post consolidation of shares(1:10).Other statutory disclosuresLoans to key management personnel and their related partiesDuring FY24 and to the date of this report,the Group made no loans to Directors and other KMP.As at 31 July 2024,Louis Mittoni owed the Company$Nil(2023:$28,575
135、)related to personal expenses incurred on a company credit card.Transactions with Key Management PersonnelDuring FY24 there were no other reportable transactions between the Group and its Directors,KMP,or their personally related entities(Related Parties).This concludes the remuneration report,which
136、 has been audited.20For personal use onlyFor personal use onlyShares under optionUnissued ordinary shares of Toys“R”Us ANZ Limited under option at the date of this report are as follows:Grant dateExpiry dateExercise priceNumber under option123-Nov-201-Nov-25$1.9900 172,61823-Nov-201-Nov-24$1.6600 16
137、9,6721-May-211-May-25$1.3800 169,19631-May-2431-May-27$0.1162 5,593,8046,105,2901.Post consolidation of shares(1:10).No person entitled to exercise the options had or has any right by virtue of the option to participate in any share issue of the Company or of any other body corporate.Shares under se
138、rvice rightsUnissued ordinary shares of Toys“R”Us ANZ Limited under performance rights at the date of this report are as follows:Grant dateExpiry dateExercise priceNumber under rights123-Nov-2010-Dec-26$1.8000 50,00027-Dec-2311-Dec-24$0.1100 545,45427-Dec-2311-Dec-25$0.1100 545,45427-Dec-2311-Dec-26
139、$0.1100 545,4561,686,3641.Post consolidation of shares(1:10).No person entitled to exercise the service rights had or has any right by virtue of the service right to participate in any share issue of the Company or of any other body corporate.Shares under share appreciation rightsUnissued ordinary s
140、hares of Toys“R”Us ANZ Limited under retention rights at the date of this report are as follows:Grant dateExpiry dateExercise priceNumber under rights114-Oct-2121-Sep-26$1.8000 8,00127-Dec-2327-Dec-28$0.1300 1,454,5451,462,5461.Post consolidation of shares(1:10).Toys“R”Us ANZ LimitedAnnual Report 20
141、2421For personal use onlyFor personal use onlyDirectors Report(Cont.)No person entitled to exercise the share appreciation rights had or has any right by virtue of the share appreciation right to participate in any share issue of the Company or of any other body corporate.Shares issued on the exerci
142、se of optionsDuring the financial year,there were no employees or executives that exercised options to acquire ordinary shares in the Company.Shares issued on the exercise of service rightsThere were no ordinary shares of Toys“R”Us ANZ Limited issued on the exercise of service rights during the year
143、 ended 31 July 2024 and up to the date of this report.Shares issued on the exercise of share appreciation rightsThere were no ordinary shares of Toys“R”Us ANZ Limited issued on the exercise of share appreciation rights during the year ended 31 July 2024 and up to the date of this report.Indemnity an
144、d insurance of officersThe Company has indemnified the Directors and executives of the Company for costs incurred,in their capacity as a director or executive,for which they may be held personally liable,except where there is a lack of good faith.During the financial year,the Company paid a premium
145、in respect of a contract to insure the Directors and executives of the Company against a liability to the extent permitted by the Corporations Act 2001.The contract of insurance prohibits disclosure of the nature of the liability and the amount of the premium.Indemnity and insurance of auditorTo the
146、 extent permitted by law,the Company has agreed to indemnify its auditors,RSM Australia Partners,as a part of its audit engagement agreement against claims by third parties arising from the audit(for an unspecified amount),other than a loss arising from RSM Australia Partners negligent,wrongful or w
147、ilful acts or omissions.No payment has been made to indemnify RSM Australia Partners during the financial year or up to the date of this report.Proceedings on behalf of the CompanyNo person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on beha
148、lf of the Company,or to intervene in any proceedings to which the Company is a party for the purpose of taking responsibility on behalf of the Company for all or part of those proceedings.Non-audit servicesDetails of amounts paid or payable to the auditor for non-audit services provided during the y
149、ear by the auditor are outlined in note 29 to the financial statements.The Directors are satisfied that the provision of non-audit services,during the year,by the auditor(or by another person or firm on the auditors behalf)is compatible with the general standard of independence for auditors imposed
150、by the Corporations Act 2001.22For personal use onlyFor personal use onlyThe Directors are of the opinion that the services as disclosed in note 29 to the financial statements do not compromise the external auditors independence,based on advice received from the Audit&Risk Committee,for the followin
151、g reasons:all non-audit services have been reviewed and approved to ensure that they do not impact the integrity and objectivity of the auditor;and none of the services undermine the general principles relating to auditor independence as set out in Code of Conduct APES 110 Code of Ethics for Profess
152、ional Accountants issued by the Accounting Professional&Ethical Standards Board,including reviewing or auditing the auditors own work,acting in a management or decision-making capacity for the Company,acting as advocate for the Company or jointly sharing economic risks and rewards.Details of the amo
153、unts paid or payable to the auditor for non-audit services provided during the financial year by the auditor are outlined in note 29 to the financial statements.Officers of the Company who are former partners of RSM Australia PartnersThere are no officers of the Company who are former partners of RS
154、M Australia Partners.Rounding of amountsThe Company is a company of the kind referred to in ASIC Corporations(Rounding in Financials/Directors Reports)Instrument 2016/191,dated 24 March 2016,and in accordance with that Corporations Instrument amounts in the Directors report and the financial stateme
155、nts are rounded off to the nearest thousand dollars,unless otherwise indicated.Auditors independence declarationA copy of the Auditors Independence Declaration as required under section 307C of the Corporations Act 2001 is set out on the following page.AuditorRSM Australia Partners continues in offi
156、ce in accordance with section 327 of the Corporations Act 2001.This report is made in accordance with a resolution of Directors,pursuant to section 298(2)(a)of the Corporations Act 2001.On behalf of the DirectorsKelly Humphreys Chair30 September 2024Toys“R”Us ANZ LimitedAnnual Report 202423For perso
157、nal use onlyFor personal use only 18 THE POWER OF BEING UNDERSTOOD AUDIT|TAX|CONSULTING RSM Australia Partners is a member of the RSM network and trades as RSM.RSM is the trading name used by the members of the RSM network.Each member of the RSM network is an independent accounting and consulting fi
158、rm which practices in its own right.The RSM network is not itself a separate legal entity in any jurisdiction.RSM Australia Partners ABN 36 965 185 036 Liability limited by a scheme approved under Professional Standards Legislation RSM Australia Partners Level 27,120 Collins Street Melbourne VIC 300
159、0 PO Box 248 Collins Street West VIC 8007 T+61(0)3 9286 8000 F+61(0)3 9286 8199 .au AUDITORS INDEPENDENCE DECLARATION As lead auditor for the audit of the financial report of Toys“R”Us ANZ Limited and its controlled entities for the year ended 31 July 2024,I declare that,to the best of my knowledge
160、and belief,there have been no contraventions of:(i)the auditor independence requirements of the Corporations Act 2001 in relation to the audit;and(ii)any applicable code of professional conduct in relation to the audit.RSM AUSTRALIA PARTNERS R J MORILLO MALDONADO Partner Dated:30 September 2024 Melb
161、ourne,Victoria Auditors Independence Declaration24For personal use onlyFor personal use onlyFinancial StatementsConsolidated Statement of Profit or Loss and Other Comprehensive Income 26Consolidated Statement of Financial Position 28Consolidated Statement of Changes in Equity 29Consolidated Statemen
162、t of Cash Flows 31Notes to the Consolidated Financial Statements 32Consolidated Entity Disclosure Statement 86Directors Declaration 87Independent Auditors Report 88Shareholder Information 94Corporate Directory 9725Toys“R”Us ANZ LimitedAnnual Report 2024For personal use onlyFor personal use onlyConso
163、lidated Statement of Profit or Loss and Other Comprehensive IncomeFor the year ended 31 July 2024NoteConsolidated31 July 2024$00031 July 2023$000Revenue from continuing operationsRevenue from contracts with customers47,668 21,642 Cost of goods sold(5,630)(18,819)Gross profit2,0382,823 Other Income54
164、69 344 ExpensesAdministration expense(2,432)(2,458)Employee benefits expense5(3,430)(4,748)Marketing and selling expenses(2,203)(4,167)Warehouse and distribution expenses(522)(1,304)Total expenses(8,587)(12,677)Earnings before interest,taxation,depreciation and amortisation(EBITDA)(6,080)(9,510)Fina
165、nce income64 7Depreciation and amortisation expense5(3,036)(2,915)Impairment of goodwill(11,128)Finance costs5(2,766)(2,561)Loss before income tax benefit from continuing operations(11,818)(26,107)Income tax benefit6317 316 Loss after income tax benefit from continuing operations(11,501)(25,791)Loss
166、 after income tax expense from discontinued operations7(7,892)(6,867)Loss after income tax benefit for the year(19,393)(32,658)Other comprehensive lossItems that may be reclassified subsequently to profit or lossForeign currency translation(400)(234)Other comprehensive loss for the year,net of tax(4
167、00)(234)Total comprehensive loss for the year(19,793)(32,892)Total comprehensive loss for the year is attributable to:Continuing operations(11,501)(25,791)Discontinued operations(8,292)(7,101)(19,793)(32,892)26For personal use onlyFor personal use onlyNoteConsolidated31 July 2024 Cents31 July 2023 C
168、entsLoss per share from continuing operationsBasic loss per share41(11.24)(29.89)Diluted loss per share41(11.24)(29.89)Loss per share from discontinued operationsBasic loss per share41(7.72)(7.95)Diluted loss per share41(7.72)(7.95)Loss per shareBasic loss per share41(18.96)(37.84)Diluted loss per s
169、hare41(18.96)(37.84)The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes.Toys“R”Us ANZ LimitedAnnual Report 202427For personal use onlyFor personal use onlyConsolidated Statement of Financial PositionAs at 31 July
170、 2024NoteConsolidated31 July 2024$00031 July 2023$000AssetsCurrent assetsCash and cash equivalents8708 1,766 Trade and other receivables9837 Inventories10594 4,905 Other assets12905 208 2,2077,716 Assets of disposal group classified as held for sale1316 3,119 Total current assets2,223 10,835 Non-cur
171、rent assetsProperty,plant and equipment142,023 2,767 Right-of-use assets118,186 11,167 Goodwill and other intangibles152,837 6,899 Other assets122,756 2,935 Total non-current assets15,802 23,768 Total assets18,025 34,603 LiabilitiesCurrent liabilitiesTrade payables161,871 3,405 Contract liabilities/
172、deferred revenue66 114 Borrowings1714,838 12,084 Lease liabilities18564 576 Derivative financial instruments19505 Employee benefits20233 460 Provisions222 280 Contingent consideration21210 Other current liabilities231,779 2,044 20,28818,963 Liabilities directly associated with assets classified as h
173、eld for sale243,128 1,565 Total current liabilities23,416 20,528 Non-current liabilitiesBorrowings17390 526 Lease liabilities188,728 11,284 Deferred tax6421 738 Employee benefits20 9 Contingent consideration21252 Total non-current liabilities9,791 12,557 Total liabilities33,20733,085 Net assets/(lia
174、bilities)(15,182)1,518 EquityIssued capital25295,540 292,920 Reserves549476 Accumulated losses(311,271)(291,878)Total equity/(deficiency)(15,182)1,518 The above consolidated statement of financial position should be read in conjunction with the accompanying notes.28For personal use onlyFor personal
175、use onlyConsolidated Statement of Changes in EquityFor the year ended 31 July 2024ConsolidatedIssued capital$000Equity-settled employee benefits reserve$000Convertible note options reserve$000Foreign currency translation reserve$000Accumulated losses$000Total equity$000Balance at 1 August 2022292,96
176、52,12120(260,958)34,148Loss after income tax benefit for the year(32,658)(32,658)Other comprehensive loss for the year,net of tax(234)(234)Total comprehensive loss for the year(234)(32,658)(32,892)Transactions with owners in their capacity as owners:Purchase of unmarketable parcels(107)(107)Issue of
177、 stock warrants113113Issue of options131131Options forfeited/cancelled(1,738)1,738Issue of share appreciation/service rights(net)6257119Issue of employee options66Balance at 31 July 2023292,920690(214)(291,878)1,518Toys“R”Us ANZ LimitedAnnual Report 202429For personal use onlyFor personal use onlyCo
178、nsolidated Statement of Changes in Equity(Cont.)ConsolidatedIssued capital$000Equity-settled Employee benefits reserve$000Convertible note options reserve$000Foreign currency translation reserve$000Accumulated Losses$000Total deficiency in equity$000Balance at 1 August 2023292,920690(214)(291,878)1,
179、518Loss after income tax benefit for the year(19,393)(19,393)Other comprehensive loss for the year,net of tax(400)(400)Total comprehensive loss for the year(400)(19,393)(19,793)Transactions with owners in their capacity as owners:Issue of ordinary shares,net of issue cost1,2601,260Sale of unmarketab
180、le parcels5555Share issue for conversion of convertible note655655Share-based payments 176176Shares issued for Riot Acquisition350350Share issued to Penny Cox conversion of Loan100100Shares and options issued pursuant to the convertible note facility200297497Balance at 31 July 2024295,540866297(614)
181、(311,271)(15,182)The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.30For personal use onlyFor personal use onlyConsolidated Statement of Cash FlowsFor the year ended 31 July 2024NoteConsolidated31 July 2024$00031 July 2023$000Cash flows f
182、rom operating activitiesReceipts from customers(inclusive of GST)20,283 40,542 Receipts from other income(including government grants)347 Payments to suppliers(inclusive of GST)and employees(26,517)(50,906)Cash utilised in operations(6,234)(10,017)Interest and other finance costs paid(1,772)(2,448)O
183、ther income received469 Net cash used in operating activities38(7,537)(12,465)Cash flows from investing activitiesPayment for acquisition of business34(300)Payments for property,plant and equipment14(5)(1,014)Payments for intangible assets15(292)Interest and other investment income received64 56 Pro
184、ceeds from disposal of property,plant and equipment 9 Proceeds from disposal of intangibles(16)Proceeds from refund of security deposits179 828 Net cash used in investing activities(354)(137)Cash flows from financing activitiesProceeds from issue of shares252,118 Proceeds from issue of convertible n
185、otes(net of transaction costs)1,396 Proceeds from borrowings4,256 2,610 Share issue transaction costs(149)Repayment of lease liabilities(795)(673)Payments for buyback of unmarketable parcels(107)Net cash from financing activities6,826 1,830 Net decrease in cash and cash equivalents(1,065)(10,772)Cas
186、h and cash equivalents at the beginning of the financial year1,766 12,538 Effects of exchange rate changes on cash and cash equivalents7 Cash and cash equivalents at the end of the financial year8708 1,766 The above consolidated statement of cashflows include cashflow in relation to discontinued ope
187、rations.Refer to note 7 for further details.The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.Toys“R”Us ANZ LimitedAnnual Report 202431For personal use onlyFor personal use onlyNotes to the Consolidated Financial Statements31 July 2024General in
188、formation The financial statements cover Toys“R”Us ANZ Limited as a Group consisting of Toys“R”Us ANZ Limited and the entities it controlled at the end of,or during,the year.The financial statements are presented in Australian dollars.,which is Toys“R”Us ANZ Limiteds functional and presentation curr
189、ency.Toys“R”Us ANZ Limited is a listed public company limited by shares,incorporated and domiciled in Australia.Its registered office and principal place of business are:Registered officeLevel 8,210 George Street Sydney,NSW 2000Principal place of businessUnit 3,45-49 McNaughton Road Clayton,VIC 3168
190、 A description of the nature of the Groups operations and its principal activities are included in the Directors report,which is not part of the financial statements.The financial statements were authorised for issue,in accordance with a resolution of Directors,on 30 September 2024.Note 1.Material a
191、ccounting policy informationThe accounting policies that are material to the Group are set out below.The accounting policies adopted are consistent with those of the previous financial year,unless otherwise stated.Going concern basis of accounting The financial report has been prepared on the going
192、concern basis which contemplates the continuity of normal business activities and the realisation of assets and the discharge of liabilities in the normal course of business.As disclosed in the financial report,the Group has incurred a net loss after income tax of$19.4 million and has cash outflows
193、from operating activities of$7.5 million for year ended 31 July 2024,and as of that date,the groups current liabilities exceeded its current assets by$21.2 million and groups total liabilities exceeded total assets by$15.2 million.These factors indicate a material uncertainty which may cast signific
194、ant doubt as to whether the Group will continue as a going concern and therefore whether it will realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the financial report.The Directors believe that there are reasonable grounds to believe tha
195、t the Group will be able to continue as a going concern,after consideration of the following factors:As disclosed in note 37,in August 2024,the Company raised approximately$2.49 million in capital from existing and new investors and intends to raise additional capital in the next 612 months;As discl
196、osed in note 37,in August 2024,shareholders approved the drawdown of up to$2.715 million from the convertible securities facility,subject to further agreement between the parties;The ongoing strategic plan to right-size the Australian business to significantly reduce operational costs and release wo
197、rking capital tied up to Lease Bond;32For personal use onlyFor personal use only Included in current liabilities is an amount of$2.98 million of loan payable to TRU UK Kids,Inc.(“TRUK”),which has been agreed to be fully offset against the assets of the UK operations upon wind down of the UK entity,i
198、n satisfaction of all debts and liabilities owed to TRUK;and The budget and cashflow forecast prepared by the Group for the twelve-month period from the date of signing the financial statements,which are based on the Directors estimates and assumptions about certain economic factors,and the operatin
199、g and trading performance of the Group,support the Directors assertion,and suggest that the Group has cash and other financial resources sufficient to support its operations for the relevant period.Accordingly,the Directors believe that the Group will be able to continue as a going concern and that
200、it is appropriate to adopt the going concern basis in the preparation of the financial report.The financial report does not include any adjustments relating to the amounts or classification of recorded assets or liabilities that might be necessary if the Group does not continue as a going concern.Ne
201、w or amended Accounting Standards and Interpretations adoptedAny new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted.Basis of preparationThese general purpose financial statements have been prepared in accordance with Australian Accounting St
202、andards and Interpretations issued by the Australian Accounting Standards Board(AASB)and the Corporations Act 2001,as appropriate for for-profit oriented entities.These financial statements also comply with International Financial Reporting Standards as issued by the International Accounting Standar
203、ds Board(IASB).Historical cost conventionThe financial statements have been prepared under the historical cost convention,except for derivative financial instruments that have been measured at fair value.Critical accounting estimatesThe preparation of the financial statements requires the use of cer
204、tain critical accounting estimates.It also requires management to exercise its judgement in the process of applying the Groups accounting policies.The areas involving a higher degree of judgement or complexity,or areas where assumptions and estimates are significant to the financial statements,are d
205、isclosed in note 2.Parent entity informationIn accordance with the Corporations Act 2001,these financial statements present the results of the Group only.Supplementary information about the parent entity is disclosed in note 33.Principles of consolidationThe consolidated financial statements incorpo
206、rate the assets and liabilities of all subsidiaries of Toys“R”Us ANZ Limited(Company or parent entity)as at 31 July 2024 and the results of all subsidiaries for the year then ended.Toys“R”Us ANZ Limited and its subsidiaries together are referred to in these financial statements as the Group.Note 1.M
207、aterial accounting policy information(Cont.)Toys“R”Us ANZ LimitedAnnual Report 202433For personal use onlyFor personal use onlyNotes to the Consolidated Financial Statements(Cont.)Subsidiaries are all those entities over which the Group has control.The Group controls an entity when the Group is expo
208、sed to,or has rights to,variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity.Subsidiaries are fully consolidated from the date on which control is transferred to the Group.They are de-consolidated f
209、rom the date that control ceases.Intercompany transactions,balances and unrealised gains on transactions between entities in the Group are eliminated.Unrealised losses are also eliminated unless the transaction provides evidence of the impairment of the asset transferred.Accounting policies of subsi
210、diaries have been changed where necessary to ensure consistency with the policies adopted by the Group.The acquisition of subsidiaries is accounted for using the acquisition method of accounting.A change in ownership interest,without the loss of control,is accounted for as an equity transaction,wher
211、e the difference between the consideration transferred and the book value of the share of the non-controlling interest acquired is recognised directly in equity attributable to the parent.Where the Group loses control over a subsidiary,it derecognises the assets including goodwill,liabilities and no
212、n-controlling interest in the subsidiary together with any cumulative translation differences recognised in equity.The Group recognises the fair value of the consideration received and the fair value of any investment retained together with any gain or loss in profit or loss.Operating segmentsOperat
213、ing segments are presented using the management approach,where the information presented is on the same basis as the internal reports provided to the Chief Operating Decision Makers(CODM).The CODM is responsible for the allocation of resources to operating segments and assessing their performance.Fo
214、reign currency translationThe financial statements are presented in Australian dollars,which is Toys“R”Us ANZ Limiteds functional and presentation currency.Foreign currency transactionsForeign currency transactions are translated into Australian dollars using the exchange rates prevailing at the dat
215、es of the transactions.Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at financial year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.Foreign operationsThe assets
216、 and liabilities of foreign operations are translated into Australian dollars using the exchange rates at the reporting date.The revenues and expenses of foreign operations are translated into Australian dollars using the average exchange rates,which approximate the rates at the dates of the transac
217、tions,for the period.All resulting foreign exchange differences are recognised in other comprehensive income through the foreign currency reserve in equity.The foreign currency reserve is recognised in profit or loss when the foreign operation or net investment is disposed of.Note 1.Material account
218、ing policy information(Cont.)34For personal use onlyFor personal use onlyRevenue recognitionThe Group recognises revenue as follows:Revenue from contracts with customersRevenue is recognised at an amount that reflects the consideration to which the Group is expected to be entitled in exchange for tr
219、ansferring goods or services to a customer.For each contract with a customer,the Group:identifies the contract with a customer;identifies the performance obligations in the contract;determines the transaction price which takes into account estimates of variable consideration and the time value of mo
220、ney;allocates the transaction price to the separate performance obligations on the basis of the relative stand-alone selling price of each distinct good or service to be delivered;and recognises revenue when or as each performance obligation is satisfied in a manner that depicts the transfer to the
221、customer of the goods or services promised.Variable consideration within the transaction price,if any,reflects concessions provided to the customer such as discounts,rebates and refunds,any potential bonuses receivable from the customer and any other contingent events.Such estimates are determined u
222、sing either the expected value or most likely amount method.The measurement of variable consideration is subject to a constraining principle whereby revenue will only be recognised to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognised wil
223、l not occur.The measurement constraint continues until the uncertainty associated with the variable consideration is subsequently resolved.Amounts received that are subject to the constraining principle are recognised as a refund liability.Sale of goodsThe Group generates the majority of its revenue
224、 from the sales of goods.Revenue from the sale of goods is recognised at the point in time when the customer obtains control of the goods,which is generally at the time of delivery.Rendering of servicesRevenue from a contract to provide services is recognised over time as the services are rendered b
225、ased on either a fixed price or an hourly rate.InterestInterest revenue is recognised as interest accrues using the effective interest method.This is a method of calculating the amortised cost of a financial asset and allocating the interest income over the relevant period using the effective intere
226、st rate,which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset.Other revenueOther revenue is recognised when it is received or when the right to receive payment is established.Income t
227、axThe income tax expense or benefit for the period is the tax payable on that periods taxable income based on the applicable income tax rate for each jurisdiction,adjusted by the changes in deferred tax assets and liabilities attributable to temporary differences,unused tax losses and the adjustment
228、 recognised for prior periods,where applicable.Note 1.Material accounting policy information(Cont.)Toys“R”Us ANZ LimitedAnnual Report 202435For personal use onlyFor personal use onlyNotes to the Consolidated Financial Statements(Cont.)Deferred tax assets and liabilities are recognised for temporary
229、differences at the tax rates expected to be applied when the assets are recovered or liabilities are settled,based on those tax rates that are enacted or substantively enacted,except for:When the deferred income tax asset or liability arises from the initial recognition of goodwill or an asset or li
230、ability in a transaction that is not a business combination and that,at the time of the transaction,affects neither the accounting nor taxable profits;or When the taxable temporary difference is associated with interests in subsidiaries,associates or joint ventures,and the timing of the reversal can
231、 be controlled and it is probable that the temporary difference will not reverse in the foreseeable future.Deferred tax assets are recognised for deductible temporary differences and unused tax losses only if it is probable that future taxable amounts will be available to utilise those temporary dif
232、ferences and losses.A deferred tax asset in respect to tax losses is only recognised where there is a reasonable certainty that future taxable profits will be guaranteed.Management assesses continuity of ownership test and same business test hurdles bi-annually.The carrying amount of recognised and
233、unrecognised deferred tax assets are reviewed at each reporting date.Deferred tax assets recognised are reduced to the extent that it is no longer probable that future taxable profits will be available for the carrying amount to be recovered.Previously unrecognised deferred tax assets are recognised
234、 to the extent that it is probable that there are future taxable profits available to recover the asset.Deferred tax assets and liabilities are offset only where there is a legally enforceable right to offset current tax assets against current tax liabilities and deferred tax assets against deferred
235、 tax liabilities;and they relate to the same taxable authority on either the same taxable entity or different taxable entities which intend to settle simultaneously.Tax ConsolidationThe Company and its wholly-owned Australian resident entities are part of a tax-consolidated Group under Australian ta
236、xation law.Toys“R”Us ANZ Limited is the head entity in the tax-consolidated Group.Tax expense/revenue,deferred tax liabilities and deferred tax assets arising from temporary differences of the members of the tax-consolidated Group are recognised in the separate financial statements of the members of
237、 the tax-consolidated Group using the“separate taxpayer within Group”approach by reference to the carrying amounts in the separate financial statements of each entity and the tax values applying under tax consolidation.Due to the existence of a tax funding arrangement between the entities in the tax
238、-consolidated Group,amounts are recognised as payable to or receivable by the Company and each member of the Group in relation to the tax contribution amounts paid or payable between the parent entity and the other members of the tax-consolidated Group in accordance with the arrangement.Further info
239、rmation about the tax funding arrangement is detailed in note 6 to the financial statements.Discontinued operationsA discontinued operation is a component of the Groups business,the operations,and cash flows of which can be clearly distinguished from the rest of the Group and which:represents as a s
240、eparate major line of business or geographical area of operations;is a part of a single co-ordinated plan to dispose of a separate major line of business or geographical area of operations;or is a subsidiary acquired exclusively with a view to re-sell.Note 1.Material accounting policy information(Co
241、nt.)36For personal use onlyFor personal use onlyThe results of discontinued operations are presented separately on the face of the statement of profit or loss and other comprehensive income.Classification as a discontinued operation occurs upon disposal or when the operation meets the criteria to be
242、 classified as held-for-sale,if earlier.When an operation is classified as a discontinued operation,the comparative statement of profit or loss and other comprehensive income is re-presented as if the operation had been discontinued from the start of the comparative year.Current and non-current clas
243、sificationAssets and liabilities are presented in the statement of financial position based on current and non-current classification.An asset is classified as current when:it is either expected to be realised or intended to be sold or consumed in the Groups normal operating cycle;it is held primari
244、ly for the purpose of trading;it is expected to be realised within 12 months after the reporting period;or the asset is cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period.All other assets are classified as no
245、n-current.A liability is classified as current when:it is either expected to be settled in the Groups normal operating cycle;it is held primarily for the purpose of trading;it is due to be settled within 12 months after the reporting period;or there is no unconditional right to defer the settlement
246、of the liability for at least 12 months after the reporting period.All other liabilities are classified as non-current.Deferred tax assets and liabilities are always classified as non-current.Cash and cash equivalentsCash and cash equivalents includes cash on hand,deposits held at call with financia
247、l institutions,other short-term,highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.Trade and other receivablesTrade receivables are initially recognised at
248、 fair value and subsequently measured at amortised cost using the effective interest method,less any allowance for expected credit losses.Trade receivables are generally due for settlement within 30 days.The Group has applied the simplified approach to measuring expected credit losses,which uses a l
249、ifetime expected loss allowance.To measure the expected credit losses,trade receivables have been grouped based on days overdue.Other receivables are recognised at amortised cost,less any allowance for expected credit losses.InventoriesStock on hand is stated at the lower of cost and net realisable
250、value.Costs are assigned to individual items of stock on the basis of weighted average costs.Cost comprises of purchase and delivery costs,net of rebates and discounts received or receivable.Net realisable value is the estimated selling price in the ordinary course of business less the estimated cos
251、ts of completion and the estimated costs necessary to make the sale.Stock write downs occur where the estimated selling price of stock,in the ordinary course of business,is less than the estimated costs of completion and costs necessary to make the sale.Excess stock levels are reviewed on a regular
252、basis,where discussions with the sales teams are undertaken.Note 1.Material accounting policy information(Cont.)Toys“R”Us ANZ LimitedAnnual Report 202437For personal use onlyFor personal use onlyNotes to the Consolidated Financial Statements(Cont.)Derivative financial instrumentsDerivatives are init
253、ially recognised at fair value on the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date.The accounting for subsequent changes in fair value depends on whether the derivative is designated as a hedging instrument,and if so,the nature
254、 of the item being hedged.Derivatives are classified as current or non-current depending on the expected period of realisation.Non-current assets or disposal groups classified as held for saleNon-current assets and assets of disposal groups are classified as held for sale if their carrying amount wi
255、ll be recovered principally through a sale transaction rather than through continued use.They are measured at the lower of their carrying amount and fair value less costs of disposal.For non-current assets or assets of disposal groups to be classified as held for sale,they must be available for imme
256、diate sale in their present condition and their sale must be highly probable.An impairment loss is recognised for any initial or subsequent write down of the non-current assets and assets of disposal groups to fair value less costs of disposal.A gain is recognised for any subsequent increases in fai
257、r value less costs of disposal of a non-current assets and assets of disposal groups,but not in excess of any cumulative impairment loss previously recognised.Non-current assets are not depreciated or amortised while they are classified as held for sale.Interest and other expenses attributable to th
258、e liabilities of assets held for sale continue to be recognised.Non-current assets classified as held for sale and the assets of disposal groups classified as held for sale are presented separately on the face of the statement of financial position,in current assets.The liabilities of disposal group
259、s classified as held for sale are presented separately on the face of the statement of financial position,in current liabilities.Property,plant and equipmentPlant and equipment is stated at historical cost less accumulated depreciation and impairment.Historical cost includes expenditure that is dire
260、ctly attributable to the acquisition of the items.Depreciation is calculated on a straight-line basis to write off the net cost of each item of property,plant and equipment over their expected useful lives as follows:Leasehold improvements 35 yearsPlant and equipment 37 yearsThe residual values,usef
261、ul lives and depreciation methods are reviewed,and adjusted if appropriate,at each reporting date.Leasehold improvements are depreciated over the unexpired period of the lease or the estimated useful life of the assets,whichever is shorter.An item of property,plant and equipment is derecognised upon
262、 disposal or when there is no future economic benefit to the Group.Gains and losses between the carrying amount and the disposal proceeds are taken to profit or loss.Note 1.Material accounting policy information(Cont.)38For personal use onlyFor personal use onlyRight-of-use assetsA right-of-use asse
263、t is recognised at the commencement date of a lease.The right-of-use asset is measured at cost,which comprises the initial amount of the lease liability,adjusted for,as applicable,any lease payments made at or before the commencement date net of any lease incentives received,any initial direct costs
264、 incurred,and,except where included in the cost of inventories,an estimate of costs expected to be incurred for dismantling and removing the underlying asset,and restoring the site or asset.Right-of-use assets are depreciated on a straight-line basis over the unexpired period of the lease or the est
265、imated useful life of the asset,whichever is the shorter.Where the Group expects to obtain ownership of the leased asset at the end of the lease term,the depreciation is over its estimated useful life.Right-of use assets are subject to impairment or adjusted for any remeasurement of lease liabilitie
266、s.The Group has elected not to recognise a right-of-use asset and corresponding lease liability for short-term leases with terms of 12 months or less and leases of low-value assets.Lease payments on these assets are expensed to profit or loss as incurred.Intangible assetsIntangible assets acquired a
267、s part of a business combination,other than goodwill,are initially measured at their fair value at the date of the acquisition.Intangible assets acquired separately are initially recognised at cost.Indefinite life intangible assets are not amortised and are subsequently measured at cost less any imp
268、airment.Finite life intangible assets are subsequently measured at cost less amortisation and any impairment.The gains or losses recognised in profit or loss arising from the derecognition of intangible assets are measured as the difference between net disposal proceeds and the carrying amount of th
269、e intangible asset.The method and useful lives of finite life intangible assets are reviewed annually.Changes in the expected pattern of consumption or useful life are accounted for prospectively by changing the amortisation method or period.GoodwillGoodwill arises on the acquisition of a business.G
270、oodwill is not amortised.Instead,goodwill is tested annually for impairment,or more frequently if events or changes in circumstances indicate that it might be impaired,and is carried at cost less accumulated impairment losses.Impairment losses on goodwill are taken to profit or loss and are not subs
271、equently reversed.Licenses and trademarksSignificant costs associated with licenses and trademarks are amortised on a straight-line basis over the period of their expected benefit,being their finite life ranging from 3 to 20 years.Customer databaseCustomer contracts acquired in a business combinatio
272、n are amortised on a straight-line basis over the period of their expected benefit,being their finite life of 5 years.SoftwareSignificant costs associated with software are deferred and amortised on a straight-line basis over the period of their expected benefit,being their finite life of 5 years.No
273、te 1.Material accounting policy information(Cont.)Toys“R”Us ANZ LimitedAnnual Report 202439For personal use onlyFor personal use onlyNotes to the Consolidated Financial Statements(Cont.)Impairment of non-financial assetsGoodwill and other intangible assets that have an indefinite useful life are not
274、 subject to amortisation and are tested annually for impairment,or more frequently if events or changes in circumstances indicate that they might be impaired.Other non-financial assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not b
275、e recoverable.An impairment loss is recognised for the amount by which the assets carrying amount exceeds its recoverable amount.Recoverable amount is the higher of an assets fair value less costs of disposal and value-in-use.The value-in-use is the present value of the estimated future cash flows r
276、elating to the asset using a pre-tax discount rate specific to the asset or cash-generating unit to which the asset belongs.Assets that do not have independent cash flows are grouped together to form a cash-generating unit.Trade and other payablesThese amounts represent liabilities for goods and ser
277、vices provided to the Group prior to the end of the financial year and which are unpaid.Due to their short-term nature they are measured at amortised cost and are not discounted.The amounts are unsecured and are usually paid within 30 days of recognition.Contract liabilitiesContract liabilities repr
278、esent the Groups obligation to transfer goods or services to a customer and are recognised when a customer pays consideration,or when the Group recognises a receivable to reflect its unconditional right to consideration(whichever is earlier)before the Group has transferred the goods or services to t
279、he customer.BorrowingsLoans and borrowings are initially recognised at the fair value of the consideration received,net of transaction costs.They are subsequently measured at amortised cost using the effective interest method.The component of the convertible notes that exhibits characteristics of a
280、liability is recognised as a liability in the statement of financial position,net of transaction costs.On the issue of the convertible notes the fair value of the liability component is determined using a market rate for an equivalent non-convertible bond and this amount is carried as a non-current
281、liability on the amortised cost basis until extinguished on conversion or redemption.The increase in the liability due to the passage of time is recognised as a finance cost.The remainder of the proceeds are allocated to the conversion option that is recognised and included in shareholders equity as
282、 a convertible note reserve,net of transaction costs.The carrying amount of the conversion option is not remeasured in the subsequent years.The corresponding interest on convertible notes is expensed to profit or loss.Borrowings with variable equity conversion featuresUpon initial recognition,the Di
283、rectors assess borrowings with conversion clauses for fixed or variable conversion terms.Where terms are variable,at initial recognition an embedded derivative is recognised at fair value,and the difference received between the consideration received for the note and the fair value of the derivative
284、 is recognised in the underlying host(debt)contract.Thereafter at each reporting date,the embedded derivative is reassessed at its fair value,with changes in fair value taken to the profit or loss.The underlying host contract is recognised at amortised cost.Costs of issuing the convertible note are
285、amortised over the life of the underlying host contract.Note 1.Material accounting policy information(Cont.)40For personal use onlyFor personal use onlyLease liabilitiesA lease liability is recognised at the commencement date of a lease.The lease liability is initially recognised at the present valu
286、e of the lease payments to be made over the term of the lease,discounted using the interest rate implicit in the lease or,if that rate cannot be readily determined,the Groups incremental borrowing rate.Lease payments comprise of fixed payments less any lease incentives receivable,variable lease paym
287、ents that depend on an index or a rate,amounts expected to be paid under residual value guarantees,exercise price of a purchase option when the exercise of the option is reasonably certain to occur,and any anticipated termination penalties.The variable lease payments that do not depend on an index o
288、r a rate are expensed in the period in which they are incurred.Lease liabilities are measured at amortised cost using the effective interest method.The carrying amounts are remeasured if there is a change in the following:future lease payments arising from a change in an index or a rate used;residua
289、l guarantee;lease term;certainty of a purchase option and termination penalties.When a lease liability is remeasured,an adjustment is made to the corresponding right-of use asset,or to profit or loss if the carrying amount of the right-of-use asset is fully written down.Finance costsFinance costs at
290、tributable to qualifying assets are capitalised as part of the asset.All other finance costs are expensed in the period in which they are incurred.ProvisionsProvisions are recognised when the Group has a present(legal or constructive)obligation as a result of a past event,it is probable the Group wi
291、ll be required to settle the obligation,and a reliable estimate can be made of the amount of the obligation.The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date,taking into account the risks and uncertainties s
292、urrounding the obligation.If the time value of money is material,provisions are discounted using a current pre-tax rate specific to the liability.The increase in the provision resulting from the passage of time is recognised as a finance cost.Employee benefitsShort-term employee benefitsLiabilities
293、for wages and salaries,including non-monetary benefits,annual leave and long service leave expected to be settled wholly within 12 months of the reporting date are measured at the amounts expected to be paid when the liabilities are settled.Other long-term employee benefitsThe liability for annual l
294、eave and long service leave not expected to be settled within 12 months of the reporting date are measured at the present value of expected future payments to be made in respect of services provided by employees up to the reporting date using the projected unit credit method.Consideration is given t
295、o expected future wage and salary levels,experience of employee departures and periods of service.Expected future payments are discounted using market yields at the reporting date on high quality corporate bonds with terms to maturity and currency that match,as closely as possible,the estimated futu
296、re cash outflows.Defined contribution plansContributions to defined contribution superannuation plans are expensed when incurred.Note 1.Material accounting policy information(Cont.)Toys“R”Us ANZ LimitedAnnual Report 202441For personal use onlyFor personal use onlyNotes to the Consolidated Financial
297、Statements(Cont.)Share-based paymentsEquity-settled and cash-settled share-based compensation benefits are provided to employees.Equity-settled transactions are awards of shares,or options over shares,that are provided to employees in exchange for the rendering of services.Cash-settled transactions
298、are awards of cash for the exchange of services,where the amount of cash is determined by reference to the share price.The cost of equity-settled transactions are measured at fair value on grant date.Fair value is independently determined using either the Binomial or Black-Scholes option pricing mod
299、el that takes into account the exercise price,the term of the option,the impact of dilution,the share price at grant date and expected price volatility of the underlying share,the expected dividend yield and the risk free interest rate for the term of the option,together with non-vesting conditions
300、that do not determine whether the Group receives the services that entitle the employees to receive payment.No account is taken of any other vesting conditions.The cost of equity-settled transactions are recognised as an expense with a corresponding increase in equity over the vesting period.The cum
301、ulative charge to profit or loss is calculated based on the grant date fair value of the award,the best estimate of the number of awards that are likely to vest and the expired portion of the vesting period.The amount recognised in profit or loss for the period is the cumulative amount calculated at
302、 each reporting date less amounts already recognised in previous periods.The cost of cash-settled transactions is initially,and at each reporting date until vested,determined by applying either the Binomial or Black-Scholes option pricing model,taking into consideration the terms and conditions on w
303、hich the award was granted.The cumulative charge to profit or loss until settlement of the liability is calculated as follows:during the vesting period,the liability at each reporting date is the fair value of the award at that date multiplied by the expired portion of the vesting period;and from th
304、e end of the vesting period until settlement of the award,the liability is the full fair value of the liability at the reporting date.All changes in the liability are recognised in profit or loss.The ultimate cost of cash-settled transactions is the cash paid to settle the liability.Market condition
305、s are taken into consideration in determining fair value.Therefore any awards subject to market conditions are considered to vest irrespective of whether or not that market condition has been met,provided all other conditions are satisfied.If equity-settled awards are modified,as a minimum an expens
306、e is recognised as if the modification has not been made.An additional expense is recognised,over the remaining vesting period,for any modification that increases the total fair value of the share-based compensation benefit as at the date of modification.If the non-vesting condition is within the co
307、ntrol of the Group or employee,the failure to satisfy the condition is treated as a cancellation.If the condition is not within the control of the Group or employee and is not satisfied during the vesting period,any remaining expense for the award is recognised over the remaining vesting period,unle
308、ss the award is forfeited.If equity-settled awards are cancelled,it is treated as if it has vested on the date of cancellation,and any remaining expense is recognised immediately.If a new replacement award is substituted for the cancelled award,the cancelled and new award is treated as if they were
309、a modification.Note 1.Material accounting policy information(Cont.)42For personal use onlyFor personal use onlyFair value measurementWhen an asset or liability,financial or non-financial,is measured at fair value for recognition or disclosure purposes,the fair value is based on the price that would
310、be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date;and assumes that the transaction will take place either:in the principal market;or in the absence of a principal market,in the most advantageous market.Fair valu
311、e is measured using the assumptions that market participants would use when pricing the asset or liability,assuming they act in their economic best interests.For non-financial assets,the fair value measurement is based on its highest and best use.Valuation techniques that are appropriate in the circ
312、umstances and for which sufficient data are available to measure fair value,are used,maximising the use of relevant observable inputs and minimising the use of unobservable inputs.Issued capitalOrdinary shares are classified as equity.Incremental costs directly attributable to the issue of new share
313、s or options are shown in equity as a deduction,net of tax,from the proceeds.Business combinationsThe acquisition method of accounting is used to account for business combinations regardless of whether equity instruments or other assets are acquired.The consideration transferred is the sum of the ac
314、quisition-date fair values of the assets transferred,equity instruments issued or liabilities incurred by the acquirer to former owners of the acquiree and the amount of any non-controlling interest in the acquiree.For each business combination,the non-controlling interest in the acquiree is measure
315、d at either fair value or at the proportionate share of the acquirees identifiable net assets.All acquisition costs are expensed as incurred to profit or loss.On the acquisition of a business,the Group assesses the financial assets acquired and liabilities assumed for appropriate classification and
316、designation in accordance with the contractual terms,economic conditions,the Groups operating or accounting policies and other pertinent conditions in existence at the acquisition-date.Where the business combination is achieved in stages,the Group remeasures its previously held equity interest in th
317、e acquiree at the acquisition-date fair value and the difference between the fair value and the previous carrying amount is recognised in profit or loss.Contingent consideration to be transferred by the acquirer is recognised at the acquisition-date fair value.Subsequent changes in the fair value of
318、 the contingent consideration classified as an asset or liability is recognised in profit or loss.Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity.The difference between the acquisition-date fair value of assets acquired,lia
319、bilities assumed and any non-controlling interest in the acquiree and the fair value of the consideration transferred and the fair value of any pre-existing investment in the acquiree is recognised as goodwill.If the consideration transferred and the pre-existing fair value is less than the fair val
320、ue of the identifiable net assets acquired,being a bargain purchase to the acquirer,the difference is recognised as a gain directly in profit or loss by the acquirer on the acquisition-date,but only after a reassessment of the identification and measurement of the net assets acquired,the non-control
321、ling interest in the acquiree,if any,the consideration transferred and the acquirers previously held equity interest in the acquirer.Note 1.Material accounting policy information(Cont.)Toys“R”Us ANZ LimitedAnnual Report 202443For personal use onlyFor personal use onlyNotes to the Consolidated Financ
322、ial Statements(Cont.)Business combinations are initially accounted for on a provisional basis.The acquirer retrospectively adjusts the provisional amounts recognised and also recognises additional assets or liabilities during the measurement period,based on new information obtained about the facts a
323、nd circumstances that existed at the acquisition-date.The measurement period ends on either the earlier of(i)12 months from the date of the acquisition or(ii)when the acquirer receives all the information possible to determine fair value.Earnings per shareBasic earnings per shareBasic earnings per s
324、hare is calculated by dividing the profit attributable to the owners of Toys“R”Us ANZ Limited,excluding any costs of servicing equity other than ordinary shares,by the weighted average number of ordinary shares outstanding during the financial year,adjusted for bonus elements in ordinary shares issu
325、ed during the financial year.Diluted earnings per shareDiluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares and th
326、e weighted average number of shares assumed to have been issued for no consideration in relation to dilutive potential ordinary shares.Goods and Services Tax(GST)and other similar taxesRevenues,expenses and assets are recognised net of the amount of associated GST,unless the GST incurred is not reco
327、verable from the tax authority.In this case it is recognised as part of the cost of the acquisition of the asset or as part of the expense.Receivables and payables are stated inclusive of the amount of GST receivable or payable.The net amount of GST recoverable from,or payable to,the tax authority i
328、s included in other receivables or other payables in the statement of financial position.Cash flows are presented on a gross basis.The GST components of cash flows arising from investing or financing activities which are recoverable from,or payable to the tax authority,are presented as operating cas
329、h flows.Commitments and contingencies are disclosed net of the amount of GST recoverable from,or payable to,the tax authority.Rounding of amountsThe Company is of a kind referred to in Corporations Instrument 2016/191,issued by the Australian Securities and Investments Commission,relating to roundin
330、g-off.Amounts in this report have been rounded off in accordance with that Corporations Instrument to the nearest thousand dollars,or in certain cases,the nearest dollar.New Accounting Standards and Interpretations not yet mandatory or early adoptedAustralian Accounting Standards and Interpretations
331、 that have recently been issued or amended but are not yet mandatory,have not been early adopted by the Group for the annual reporting period ended 31 July 2024.The Group has not yet assessed the impact of these new or amended Accounting Standards and Interpretations.Note 1.Material accounting polic
332、y information(Cont.)44For personal use onlyFor personal use onlyNote 2.Critical accounting judgements,estimates and assumptionsThe preparation of the financial statements requires management to make judgements,estimates and assumptions that affect the reported amounts in the financial statements.Man
333、agement continually evaluates its judgements and estimates in relation to assets,liabilities,contingent liabilities,revenue and expenses.Management bases its judgements,estimates and assumptions on historical experience and on other various factors,including expectations of future events,management believes to be reasonable under the circumstances.The resulting accounting judgements and estimates
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