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b) Related parties transactions
The Waikato Raupatu Lands Trust is the Controlling entity. Te Whakakitenga o Waikato Incorporated is the ultimate controlling
party. All members of the Economic entity are considered to be related parties of the Trust.
The following table provides the total amount of transactions that have been entered into with related parties. The transactions
have taken place on an arm’s length basis in accordance with internal policy.
Purchases
from related
parties
$0
Sale of
services
to related
parties
$0
Sale of
land and
properties
to related
parties
$0
Grant to
related
parties
$0
Amounts
owed to
related
Parties
$0
Amounts
owed by
related
Parties
$0
Joint Ventures
2016
17
446
2,010
-
70
4,271
2015
15
1,653
8,324
-
46
4,041
Key management personel
2016
48
-
3,111
13
-
-
2015
4
-
-
6
-
-
All amounts owing by and to the Trust are repayable on demand and are interest free, other than the advance owing by the
Trust to Waikato-Tainui Distributions Limited for which interest is charged daily based on the 90-day bank bill rate. There is no
impairment of any related party balances.
In 2014 the Trust moved into the premises located at 4 Bryce Street, Hamilton. This property is classified as property plant and
equipment (see note 16). The Waikato Raupatu River Trust occupy the premises at 20 Alma Street, Hamilton. The property is
classified as investment property due to a majority of this property being leased to third parties.
14 OTHER FINANCIAL ASSETS
Consolidated
Listed
companies
$'000
Unlisted
companies
other
$'000
Unlisted
company AFL
income shares
$'000
Total
$'000
Opening net book amount 1 April 2015
12,881
14,238
10,521
37,640
Gains or losses recognised in comprehensive revenue
and expenses
(903)
(2,297)
879
(2,321)
Purchases
392
2,386
-
2,778
Sales
-
-
-
-
Closing net book amount 31 March 2016
12,370
14,327
11,400
38,097
Consolidated
Listed
companies
$'000
Unlisted
companies
other
$'000
Unlisted
company AFL
income shares
$'000
Total
$'000
Opening net book amount 1 April 2014
1,957
10,883
10,521
23,361
Gains or losses recognised in comprehensive revenue
and expenses
3,737
2,761
-
6,498
Purchases
8,347
737
-
9,084
Sales
(1,160)
(143)
-
(1,303)
Closing net book amount at 31 March 2015
12,881
14,238
10,521
37,640