Page 82 - OneVue Annual Report 2015

Notes to the financial statements

Note 31. Related party transactions (continued)

Guarantees provided by related parties
OneVue is the beneficiary of four bank guarantees over assets held by a former Director who resigned on 13 May 2014, Nigel
Stokes, existing substantial shareholder Abtourk (SYD No. 368) Pty Ltd and Michael John Cole (who controls Abtourk (SYD No.
368) Pty Ltd) in his personal capacity, whereby security over personal assets is provided as cover for guarantees to the value of
$3.05 million offered by IMB Building Society to cover regulatory capital requirements. No financial benefit was provided by
OneVue for the guarantees. Michael Cole is the husband of Connie Mckeage.

A letter of financial support was provided by OneVue’s subsidiary MAP FM to MAP FP in April 2011 and is still in
effect. This letter sets out a commercial arrangement between MAP FM and MAP FP to ensure it is able to meet its
AFSL. conditions. Under this arrangement MAP FM will not charge MAP FP if the charge would result in MAP FP
breaching its licence conditions.

Note 32. Parent entity information

Set out below is the supplementary information about the parent entity. Parent 2014
Statement of profit or loss and other comprehensive income 2015 $'000
$'000
Profit after income tax 116
Total comprehensive income 83 116
83

Statement of financial position Parent 2014
2015 $'000
Total current assets $'000 1,494
Total assets 9,168 31,773
47,322

Total current liabilities 903 181
Total liabilities 903 3,084

Equity 45,139 27,510
Issued capital 437 420
Options reserve 165 165
Convertible notes -
Gain on acquisition reserve 678 594
Retained profits 46,419
28,689
Total equity

82 - ONEVUE ANNUAL REPORT 2015