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ANNUAL REPORT 2023 121GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2023(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)21. Related party disclosuresThe consolidated financial statements comprise the financial statements of Guardian Media Limited and the 100% owned subsidiaries, Wonderland Entertainment Limited and iRadio Inc.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 2023, the Group has not made any provision for doubtful debts relating to amounts owed by related parties (2022: Nil).2023 2022$ $Income generated from related partiesUltimate parent 275 792Fellow subsidiaries of ultimate parent 5,105 5,466 5,380 6,258Purchases from related partiesUltimate parent 9,360 3,689Fellow subsidiaries of ultimate parent 19,435 21,092Other related parties 4,991 4,126 33,786 28,907Amounts due from related partiesUltimate parent 10 50Fellow subsidiaries of ultimate parent 1,472 1,481 1,482 1,531