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68NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2012(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)19. Related party disclosuresThe consolidated financial statements comprise the financial statements of Guardian Media Limited and the 100% owned subsidiary, Wonderland Entertainment Limited.Terms and conditions of transactions with related partiesParties are considered to be related if one has the ability to control or exercise significant influence over the other party in making financial or operational decisions. A number of transactions are entered into with related parties in the normal course of business. These transactions were carried out at commercial terms and at market rates. Outstanding balances at the year-end are unsecured, interest free and settlement occurs in cash. There have been no guarantees provided or received for any related party receivables or payables. For the year ended 31 December 2012, the Company has not made any provision for doubtful debts relating to amounts owed by related parties (2011: Nil).2012 2011$ $Income generated from related partiesUltimate parent 525 551Fellow subsidiaries of ultimate parent 5,499 7,057 6,024 7,608Purchases from related partiesUltimate parent 8,263 9,001Fellow subsidiaries of ultimate parent 42,312 43,89350,575 52,894Amounts due from related partiesUltimate parent 352 130Fellow subsidiaries of ultimate parent 1,603 1,069 1,955 1,199Amounts owed to related partiesFellow subsidiaries of ultimate parent - trading 3,725 1,268Fellow subsidiaries of ultimate parent - borrowings 26,259 34,29429,984 35,562Guardian_Media_Annual_Report2012.indd 68 4/17/13 7:31 PM