AWB Limited - 2004 Annual Report
AWB Limited - 2004 Annual Report
AWB Limited - 2004 Annual Report
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26. RELATED PARTY DISCLOSURES<br />
(a) <strong>AWB</strong> <strong>Limited</strong> is the ultimate parent entity.<br />
(b) The following related party transactions occurred during the period:<br />
Consolidated<br />
<strong>AWB</strong> <strong>Limited</strong><br />
<strong>2004</strong> 2003 <strong>2004</strong> 2003<br />
Notes $'000 $'000 $'000 $'000<br />
Borrowing costs expensed<br />
– wholly owned group – – 1,992 901<br />
– related party (<strong>AWB</strong> National Pools) 19,143 10,353 770 –<br />
Revenue from sale of goods<br />
– related party (<strong>AWB</strong> National Pools) 1,983,929 409,720 – 8,991<br />
Management fee revenue<br />
– wholly owned group – – 2,456 50,877<br />
– related party (<strong>AWB</strong> National Pools) 95,198 77,091 – 77,091<br />
Dividends<br />
– wholly owned group – – 57,332 41,600<br />
– other subsidiaries – – 42 53<br />
– associates – – – 155<br />
Interest revenue<br />
– wholly owned group – – 84,915 32,193<br />
– related party (<strong>AWB</strong> National Pools) 8,345 2,426 – –<br />
Current receivable from:<br />
– wholly owned group – – 787,060 839,385<br />
– related party (<strong>AWB</strong> National Pools) 691,184 162,100 7 –<br />
Non–current receivable from:<br />
– wholly owned group – subordinated loan – – 165,000 50,000<br />
Current payable to:<br />
– related party (<strong>AWB</strong> National Pools) 1,108,891 315,795 – 9,752<br />
Terms and conditions<br />
Interest is charged or credited on amounts with <strong>AWB</strong> <strong>Limited</strong> at prevailing commercial interest rates. All other transactions within the <strong>AWB</strong> <strong>Limited</strong><br />
consolidated entity are based on actual amounts incurred or received and are conducted on commercial terms and conditions.<br />
Consolidated<br />
<strong>AWB</strong> <strong>Limited</strong><br />
<strong>2004</strong> 2003 <strong>2004</strong> 2003<br />
$ $ $ $<br />
(c) Related party transactions with director related entities:<br />
Purchases<br />
Messrs Stewart, Barry, Moffet, Martin, Chamarette,<br />
Simpson, McClelland, Gibson, Donges 4,667,695 3,366,487 – –<br />
The above transactions were conducted with director related entities under normal commercial terms with conditions no more favourable than those<br />
available to other suppliers and customers.<br />
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