Westgold Resources Limited Annual Report 2021

96 Westgold Resources Limited Annual Report 2021 for the year ended 30 June 2021 FINANCIAL REPORT NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 35. RELATED PARTY DISCLOSURES (CONTINUED) (b) Ultimate parent Westgold Resources Limited is the ultimate parent entity. (c) Key management personnel Details relating to key management personnel, including remuneration paid, are included in Note 34. (d) Transactions with related parties 2021 2020 Services provided by Westgold Resources Limited to Castile Resources Ltd 14,000 395,355 Amount owing by Castile Resources Ltd at 30 June 4,730 7,348 Services provided to Westgold Resources Limited by Castile Resources Ltd (104,869) Amount owing by Westgold Resources Ltd at 30 June (12,286) PG Cook was the non-executive chairman of Castile Resources Ltd during the financial period. There were no other related party transactions for the year ending 30 June 2021. 36. INFORMATION RELATING TO WESTGOLD RESOURCES LIMITED (THE PARENT ENTITY) 2021 2020 Current assets 151,099,603 138,595,311 Total assets 378,493,869 389,667,260 Current liabilities 7,115,222 4,611,826 Total liabilities 7,120,484 5,174,113 Issued capital 364,077,524 356,130,056 Retained earnings (accumulated losses) (12,527,418) 9,339,943 Share-based payments reserve 15,266,496 14,466,365 Other reserves 4,556,783 4,556,783 Total Equity 371,373,385 384,493,147 Profit (loss) of the parent entity 1 (21,867,361) 1,585,208 Total comprehensive profit of the parent entity (21,867,361) 1,585,208 1. Includes $27m elimination of intercompany receivable on sale of subsidiary. Guarantees entered into by the parent entity in relation to the debts of its subsidiaries. Pursuant to ASIC Corporations (Wholly owned Companies) Instrument 2016/785, Westgold and its wholly owned subsidiaries (except Location 53 Pty Ltd) entered into a deed of cross guarantee on 28 November 2016 (the Guarantee). The effect of the Guarantee is that Westgold has guaranteed to pay any deficiency in the event of winding up of any controlled entity which is a party to the Guarantee or if they do not meet their obligations under the terms of any debt subject to the Guarantee. The controlled entities which are parties to the Guarantee have given a similar guarantee in the event that Westgold is wound up or if it does not meet its obligations under the terms of any debt subject to the Guarantee. The Consolidated Statement of Financial Position and Consolidated Statement of Comprehensive Income for the closed group is not different to the Group’s Statement of Financial Position and Statement of Comprehensive Income. Other contingent liabilities of the parent entity Nil Contractual commitments by the parent entity for the acquisition of property, plant or equipment Nil