Page 89 - Demo

89GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 201521. Segment information (continued)No revenue from a single external customer or counterparty amounted to 10% or more of the Group%u2019s total revenue in 2015 and 2014. 22. Related party disclosuresThe consolidated fnancial statements comprise the fnancial statements of Guardian Media Limited and the 100% owned subsidiaries, Wonderland Entertainment Limited and I Radio Inc.Terms and conditions of transactions with related partiesParties are considered to be related if one has the ability to control or exercise signifcant infuence over the other party in making fnancial 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 2015, the Group has not made any provision for doubtful debts relating to amounts owed by related parties (2014: Nil).2015 2014$ $Income generated from related partiesUltimate parent 437 561Fellow subsidiaries of ultimate parent 6,656 8,357 7,093 8,918Purchases from related partiesUltimate parent 14,966 24,637Fellow subsidiaries of ultimate parent 44,849 103,819 59,815 128,456Amounts due from related partiesUltimate parent 2,307 26Fellow subsidiaries of ultimate parent 4,076 1,253 6,383 1,279(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)