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122 GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES GUARDIAN 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)2023 202221. Related party disclosures (continued) $ $Amounts owed to related partiesUltimate parent %u2013 trading 18 136Fellow subsidiaries of ultimate parent %u2013 trading 211 2,528229 2,664Fellow subsidiaries of ultimate parent %u2013 lease liabilities 1,256 317 1,485 2,981Investments at fair value through statement of incomeIncluded therein is a holding of less than 1% of the issued share capital of a fellow subsidiary of the ultimate parent. This investment has a carrying value of $4.5 million at 31 December 2023 (2022: $4.4 million). (Refer to Note 12).Cash and short-term depositsIncluded therein are fixed deposits with a fellow subsidiary of the ultimate parent amounting to $60.3 million at 31 December 2023 (2022: $58.94 million) (Refer to Note 13).2023 2022Compensation of key management personnel $ $Short%u2013term employee benefits 1,481 1,711Contributions to defined contribution plans 42 42Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Group.