annual report - inner - TOTAL Nigeria Plc

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NOTES TO THE FINANCIAL STATEMENTS (Cont’d) 27. RELATED PARTY TRANSACTIONS During the year, the company traded with related parties on terms similar to such transactions entered into with third parties as follows: Amount Amount owed owed Sales of Purchase by related to related 2011 Goods of Goods Others Companies Companies N'000 N'000 N'000 N'000 N'000 Total Outre - Mer - 50,015,359 - - 6,267,977 Total International - 9,168,460 - - 2,241,217 Elf Petroleum (Total E & P ) 13,278,388 - 2,706,983 - Elf Aquitaine - - 103,525 - 103,525 Total S. A. - - 300,642 - 300,642 Total France - - 6,441 - 6,441 Air Total International 212,933 - - - 11,725 Total Gestion - - 26,487 - 26,487 Total Guinea Conakry - - 1,310 1,310 - Total Gaz - - 285 285 - Total Gambia ` - 4,427 4,427 - Total Ghana - - 483 483 Total RM 6,853 6,853 Total Lubrifiants 323,219 - - 46,407 - 13,814,540 59,183,819 450,453 2,759,412 8,965,350 Amount Amount 2010 Sales of Purchase Others owed owed Goods of Goods by related to related Companies Companies N'000 N'000 N'000 N'000 N'000 Total Outre - Mer - 29,434,998 - - 5,075,718 Total International - 4,459,531 - - 370,946 Elf Petroleum (Total E & P ) 7,400,004 - - 530,899 - Air Total International 1,308,696 - 3,641 - 3,641 Elf Aquitaine - - 103,525 - 103,525 Total S. A. - - 284,160 - 284,160 Total France 11,508 - 11,844 Total Gestion - - 1,106 1,106 - Total Guinea Conakry - - 295 295 - Total AXA - - 335 335 - Total Lubrifiants 254,622 - - 34,236 - 8,963,322 33,894,529 404,570 566,871 5,849,834 2011 Annual Report & Accounts 43
NOTES TO THE FINANCIAL STATEMENTS (Cont’d) 28. LEASE OBLIGATION .1 Reconciliation of minimum lease payment to present value. Minimum Future Finance Present Value Lease payment Charges of obiligation Period not later than one year 127,667 27,785 99,882 Period later than one year and not later than five years 215,490 26,763 188,727 Period later than five years - - - 343,157 54,548 288,609 Lease obligation due within 12 months 99,882 Lease obligation due after one year 188,727 Present value of lease obligation 31 December 2011. 288,609 .2 Lease and Short term Loan 2011 2010 N'000 N'000 Balance at 1 January 265,971 281,592 Additions 202,512 100,578 Payments (179,874) (116,199) Balance at 31 December 288,609 265,971 29. POST BALANCE SHEET EVENTS There was no post balance sheet event that could have material effect on the state of affairs of the company at 31 December 2011 and on the profit for the year ended on that date that has not been taken into account in these financial statements. 30. RECLASSIFICATION OF BALANCES Certain comparative balances have been reclassified to ensure proper disclosure and uniformity with current year's presentation. 44 2011 Annual Report & Accounts
Page 2 and 3: CORPORATE PROFILE Total S.A. (the p
Page 4 and 5: CONTENTS Page Board of Directors, P
Page 6 and 7: HEAD OFFICE, SALES TERRITORIES AND
Page 8 and 9: NOTICE OF MEETING NOTICE IS HEREBY
Page 10 and 11: CHAIRMAN’S STATEMENT (Cont’d)
Page 12 and 13: BOARD OF DIRECTORS (Cont’d) Chief
Page 14 and 15: THE DIRECTORS’ PROFILE (Cont’d)
Page 16 and 17: REPORT OF THE DIRECTORS (Cont’d)
Page 25 and 26: REPORT OF AUDIT COMMITTEE TO THE ME
Page 27 and 28: SIGNIFICANT ACCOUNTING POLICIES (Co
Page 29 and 30: PROFIT AND LOSS ACCOUNT For the yea
Page 31 and 32: STATEMENT OF CASH FLOWS For the yea
Page 33 and 34: NOTES TO THE FINANCIAL STATEMENTS (
Page 43: NOTES TO THE FINANCIAL STATEMENTS (
Page 47: FIVE-YEAR FINANCIAL SUMMARY 2011 20
Page 51 and 52: “ COLLABORATION: A PATH FOR TOMOR
Page 53 and 54: “ COLLABORATION: A PATH FOR TOMOR
Page 55 and 56: SHARE CAPITAL HISTORY 1. The author
Page 57 and 58: LIST OF MAJOR DISTRIBUTORS (Cont’
Page 60 and 61: PROXY FORM I/We TOTAL NIGERIA PLC.

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