Tainui Group Holdings
Annual Report
2013
63
15 Related party transactions
Amounts outstanding with related parties are:
2013
2012
2013
2012
Notes
$’000
$’000
$’000
$’000
Advances owing by related parties:
Tainui Auckland Airport Hotel LP
-
-
18,620
20,860
Tainui Corporation Limited
-
-
123,742
-
Tainui Development Limited
-
-
100,413
42,536
Te Rapa 2002 Limited
-
-
37,292
37,155
The Base Limited
-
-
135,805
145,340
Waikato Raupatu Lands Trust
4,377
8,400
4,377
8,400
Waikato Raupatu River Trust
-
23
-
23
Waikato‑Tainui Distributions Limited
-
25
-
25
4,377
8,448
420,249
254,339
Advances owing to related parties:
Raukura Moana Seafoods Limited
-
-
351
6,306
Tainui Corporation Limited
-
-
-
45,897
TGH No. 1 Limited
-
-
5,780
5,780
Waikato Raupatu Lands Trust
-
74,027
-
49,162
Waikato‑Tainui Fisheries Limited
372
913
373
913
372
74,940
6,504
108,058
Trade and other receivables owing by
related parties
Waikato Raupatu Lands Trust
11
125
150
125
150
Waikato Raupatu River Trust
11
55
8
52
-
Waikato‑Tainui Distributions Limited
11
44
-
44
-
Other joint ventures
11
7
-
4
-
Rotokauri Development Limited joint venture 11
1,185
-
-
-
1,416
158
225
150
Trade and other payables owing to
related parties
Other joint ventures
20
7
-
4
-
7
-
4
-
The Company’s Shareholder, Waikato‑Tainui Te Kauhanganui Incorporated is the Trustee of the Waikato Raupatu
Lands Trust (the ‘Trust’ or the ‘Shareholder’). The Trust is the ultimate parent entity of the Group. All members
of the Group are considered to be related parties of the Trust.
Transactions between related entities include loans and advances to and from the Shareholder, certain
subsidiaries and associates.
All amounts owing by and to the Company and Group and ultimate Parent are repayable on demand and are
interest free. There is no impairment of any related party balances. The amount owing to the ultimate Parent by
the Group is subordinated to the Westpac and BNZ bank loans (see note 22).
The Company charged its subsidiaries $1m, Shareholder $0.5m and the Waikato Raupatu River Trust $0.3m
(2012: subsidiaries $0.9m, Shareholder $0.8m and the Waikato Raupatu River Trust $0.3m) for administration
services and financial charges which is reported in other income (see note 4). There were no purchases of
goods or services from the Group’s subsidiaries.
The Company declared a dividend of $10.1m for the year ended 31 March 2013 (2012: nil) to the Shareholder,
Parent
Consolidated
