Annual Report 2013 - Mainfreight
Annual Report 2013 - Mainfreight
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