note 2010 2009
$’000 $’000
Current receivables (loans)
Joint ventures and partnerships 9 8,900 11,343
No provision for impaired receivables has been raised in relation to any outstanding balances, and no expense has been recognised in respect of bad or
doubtful debts due from related parties, except for $345,000, in relation to trade receivables, incurred as part of the disposal of a joint venture.
Reconciliation of loans to/from related parties
Loans from joint ventures
At 1 July - 2,275
Loans received 3,600 -
Loan transferred to equity investment (3,600) -
Loan repayments made - (2,275)
At 30 June - -
Loans to joint ventures
At 1 July 11,343 10,719
Loans advanced 3,660 2,382
Loan transferred (to) / from equity investment - (1,758)
Loan repayments received (6,103) -
At 30 June 9 8,900 11,343
(j) G uarantees
The Parent entity provides performance guarantees from time to time on behalf of wholly owned subsidiaries, associates, related parties and joint venture
entities and partnerships. These guarantees will only crystallise if the respective parties fail to meet their performance obligations.
There are also cross guarantees given by Transfield Services Limited, Transfield Services (Australia) Pty Limited, APP Corporation Pty Limited,
Broadspectrum Australia Pty Limited, Broadspectrum (WA) Australia Pty Limited, Broadspectrum (Qld) Australia Pty Limited and Transfield Services
Engineering Group Pty Limited as described in Note 42. No deficiencies of assets exist in any of these companies. No liability has been recognised by the
Parent entity or the Group in relation to these guarantees, as the fair value of the guarantee is immaterial.
(k) O wnership interests in related parties
Interest held in the following classes of related parties are set out in the following Notes:
Note
Investments in associates 32
Interests in joint ventures and partnerships 33