Te pŪrongo 2012
Notes to the financial statements (continued)
18 Related party disclosure (continued)
2012
2011
Amounts owing by and to Open Wānanga Limited and Open English Limited
$’000 $’000
Trade receivables
24
13
Trade payables
7,012
8,703
18.2 Dynaspeak English Limited
Patrick Ibbertson is a director of Dynaspeak English Limited and is the general manager of Open
English Limited, a wholly owned subsidiary of Open Wānanga Limited. Dynaspeak English Limited
holds international tauira funds at balance sheet date in a separate trust account. Open English Limited
invoices Dynaspeak English Limited for these funds. Open English Limited paid Dynaspeak English
Limited for the purchase of the programme, rent and homestay fees.
2012
2011
$’000 $’000
Sales to Dynaspeak English Limited
696
979
Payments to Dynaspeak English Limited
16
31
2012
2011
Amounts owing by and to Dynaspeak English Limited
$’000 $’000
Trade receivables
209
156
Dynaspeak English Limited is not a related party for Parent in 2012.
18.3 Aotearoa Scholarship Trust
Aotearoa Scholarship Trust is a wholly owned subsidiary of Te Wānanga o Aotearoa and was established
in April 2010. The board of trustees is appointed by Te Mana Whakahaere of Te Wānanga o Aotearoa.
Aotearoa Scholarship Trust provides scholarships for tauira of Te Wānanga o Aotearoa.
2012
2011
$’000 $’000
Sales to Aotearoa Scholarship Trust
16
95
Scholarships to Aotearoa Scholarship Trust
67
83
Payments to Aotearoa Scholarship Trust
66
20
2012
2011
Amounts owing by and to Aotearoa Scholarship Trust
$’000 $’000
Trade receivables
-
-
Trade payables
-
-
Aotearoa Scholarship Trust registered for GST on 1 July 2012.
110
