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Annual Report 2013 - Mainfreight

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23 Related Parties<br />

The ultimate holding company is <strong>Mainfreight</strong> Limited.<br />

In addition to transactions disclosed elsewhere in these financial statements, the Company transacted with the following related parties<br />

during the period:<br />

<strong>2013</strong><br />

Value of<br />

Transactions<br />

$000<br />

2012<br />

Value of<br />

Transactions<br />

$000<br />

Name of Related Party<br />

Nature of<br />

Relationship<br />

Type of<br />

Transactions<br />

B. Plested Director & Shareholder Interest on Advances (4.2%) 19 14<br />

B. Plested Director & Shareholder Advances to Company 2,655 7,278<br />

B. Plested Director & Shareholder Repayment of Advances 2,655 7,278<br />

C. Howard-Smith Director & Shareholder Legal & Trustee Fees 454 420<br />

Loans (non-directors) Team Members Interest Bearing Loan – 307<br />

Advances from B Plested were unsecured.<br />

Related Party Receivables Outstanding at Balance Date:<br />

Balance<br />

Receivable<br />

$000<br />

Balance<br />

Receivable<br />

$000<br />

Name of Related Party<br />

Nature of<br />

Relationship<br />

Type of<br />

Transactions<br />

Daily Freight (1994) Ltd Subsidiary Trade – 30 Days 3,154 2,880<br />

<strong>Mainfreight</strong> Air & Ocean Ltd Subsidiary Trade – 30 Days 1,196 1,504<br />

<strong>Mainfreight</strong> Holdings Pty Ltd Subsidiary Trade – 30 Days 158 205<br />

Owens Transport Ltd Subsidiary Trade – 30 Days 3,084 2,633<br />

Carotrans International Inc Subsidiary Trade – 30 Days 594 83<br />

<strong>Mainfreight</strong>, Inc Subsidiary Trade – 30 Days 1,228 296<br />

<strong>Mainfreight</strong> Distribution Pty Ltd Subsidiary Trade – 30 Days 2,354 2,376<br />

Owens Transport Pty Ltd Subsidiary Trade – 30 Days 34 26<br />

<strong>Mainfreight</strong> Hong Ltd Subsidiary Trade – 30 Days 5 147<br />

Wim Bosman Group Subsidiary Trade – 30 Days 53 290<br />

Owens Group Ltd Subsidiary Advance – On Call 51 465<br />

<strong>Mainfreight</strong> Holdings Ptd Ltd Subsidiary Advance – On Call - 1,316<br />

<strong>Mainfreight</strong> International Pty Ltd Subsidiary Advance – On Call 638 382<br />

<strong>Mainfreight</strong> Finance Partnership Subsidiary Advance – On Call 4,590 –<br />

<strong>Mainfreight</strong> Hong Kong Ltd Subsidiary Advance – On Call 1,195 3,059<br />

Wim Bosman Group Subsidiary Advance – On Call 63,989 65,907<br />

82,323 81,569<br />

Related Party Payables Outstanding at Balance Date:<br />

Balance<br />

Payable<br />

$000<br />

Balance<br />

Payable<br />

$000<br />

Name of Related Party<br />

Nature of<br />

Relationship<br />

Type of<br />

Transactions<br />

Daily Freight (1994) Ltd Subsidiary Trade – 30 Days 65 33<br />

<strong>Mainfreight</strong> Air & Ocean Ltd Subsidiary Trade – 30 Days 23 28<br />

<strong>Mainfreight</strong> Holdings Pty Ltd Subsidiary Trade – 30 Days 1 -<br />

Owens Transport Ltd Subsidiary Trade – 30 Days - 238<br />

Wim Bosman Group Subsidiary Trade – 30 Days - 12<br />

Daily Freight (1994) Ltd Subsidiary Advance – On Call 5,100 7,100<br />

<strong>Mainfreight</strong> Air & Ocean Ltd Subsidiary Advance – On Call 3,400 6,350<br />

Owens Transport Ltd Subsidiary Advance – On Call 3,700 4,150<br />

12,289 17,911<br />

Financial Statements<br />

107

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