82 TE PŪRONGO 2013
Open Wānanga Limited (including subsidiary DynaSpeak Limited)
Open Wānanga Limited is a wholly owned subsidiary of Te Wānanga o Aotearoa. The board of Open Wānanga Limited is
appointed by Te Mana Whakahaere of Te Wānanga o Aotearoa. Open Wānanga Limited provides educational services for Te
Wānanga o Aotearoa and Te Wānanga o Aotearoa is part of the Open Wānanga Limited provider network.
2013 2012
$’000 $’000
Subsidiaries
Open Wānanga Limited (including subsidiary DynaSpeak Limited)
Sales to Open Wānanga Limited and DynaSpeak Limited
1,144 1,348
Purchases from Open Wānanga Limited and DynaSpeak Limited
24,138 25,419
Donations from Open Wānanga Limited
7,650 5,413
Amounts owing by and to Open Wānanga Limited and DynaSpeak Limited
Trade receivables
11
24
Trade payables
2,110 7,012
Aotearoa Scholarship Trust
Sales to Aotearoa Scholarship Trust
2
16
Scholarships from Aotearoa Scholarship Trust
77
67
Payments to Aotearoa Scholarship Trust
5
66
Amounts owing by and to Aotearoa Scholarship Trust
Trade receivables
Trade payables
6
-
Related parties
DynaSpeak English Limited
Sales to DynaSpeak English Limited
55
696
Payments to DynaSpeak English Limited
1
16
Amounts owing by and to DynaSpeak English Limited
Trade receivables
79
209
Trade payables
-
-
During the year, Te Wānanga o Aotearoa had services to and purchases from the following entities:
Te Tau Ihu o Ngā Wānanga:
Bentham Ohia was our former Te Pouhere (Chief Executive Officer) of Te Wānanga o Aotearoa and is also the chair of Te Tau
Ihu o Ngā Wānanga. Bentham Ohia’s contract ceased as at June 2013.
Te Tau Ihu o Ngā Wānanga is the collective name of the three wānanga in New Zealand: Te Wānanga o Raukawa, Te Whare
Wānanga o Awanuiarangi and Te Wānanga o Aotearoa. All three Wānanga pay an annual subscription to Te Tau Ihu o Ngā
Wānanga. The value of purchases were $23,000. (2012 - Purchases $20,000).
19. Related party disclosure
The consolidated financial statements include the financial statements of Te Wānanga o Aotearoa and its subsidiaries Open
Wānanga Limited and the Aotearoa Scholarship Trust.
Incorporation 2013 2012 2013 2012
% % $’000 $’000
Open Wānanga Limited
New Zealand 100
100
1
1
Aotearoa Scholarship Trust
New Zealand 100
100
-
-
Country of
Equity Interest
Investment
Related party transactions with subsidiaries
Notes to the financial statements (continued)
