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1 3 R e l a t e d p a r t y t r a n s a c t i on s
(a) Related entities transactions
The Waikato Raupatu Lands Trust is the Parent entity of the Group. Waikato-Tainui Te Kauhanganui Incorporated is the ultimate
controlling party. All members of the Group are considered to be related parties of the Trust.
Amounts outstanding with related parties are:
Consolidated
Notes
2015
$’000
2014
$’000
Trade and other receivables owing from related parties:
Joint ventures
10
4,041
-
4,041
-
Trade and other payables owing to related parties:
Joint ventures
20
46
-
46
-
All amounts owing by and to the Trust and Group 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 17). 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.
During the course of the 2014 year, Rotokauri Development Limited sold a property in Rotokauri, Hamilton to an employee of
Tainui Group Holdings Limited. The property was sold at auction for $0.5m and was on an arms length basis.
During the year, Raukura Moana Seafoods Limited transferred quota valued at $0.6m to Raukura Moana Sealord Limited
Partnership which was priced at market rates (2014: $0.6m).
(b) Key management and personnel compensation
Key management personnel compensation for the years ended 31 March 2015 and 31 March 2014 is as follows:
Consolidated
2015
$’000
2014
$’000
Salaries and other short term employee benefits
3,880
2,227
3,880
2,227
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waikato-tainui
annual report 2015