Donaco International Limited / 2017 Annual Report Donaco International Limited / 2017 Annual Report 72 73 73 Donaco International Limited / 2017 Annual Report Donaco International Limited / 2017 Annual Report 72 Notes to the Financial Statements for the year ended 30 June 2017 Notes to the Financial Statements for the year ended 30 June 2017 Note 33. Parent entity information Set out below is the supplementary information about the parent entity. Statement of Profit or Loss and Other Comprehensive Income Parent 2017 2016 $ $ Profit/(loss) after income tax 2,015,705 (16,796,945) Total comprehensive income 2,015,705 (16,796,945) Statement of Financial Position Parent 2017 2016 $ $ Total current assets 19,672,065 35,588,600 Total assets 370,065,828 372,146,330 Total current liabilities 33,990,140 29,089,505 Total liabilities 33,982,653 29,105,717 Equity Issued capital 407,931,972 408,931,972 Employee share option reserve 3,295,396 3,021,680 Accumulated losses (75,144,193) (68,913,039) Total equity 336,083,175 343,040,613 Receivable from and payable to related parties A management fee of $19,045,688 (2016: $20,492,174) was payable to the previous owner of Star Vegas and a management fee of $2,338,782 was receivable from Star Paradise Casino at year end. There were no other receivables from related parties at the current or previous reporting date. Loans to/from related parties There were no loans to or from related parties at the current and previous reporting date. Terms and conditions All transactions were made on normal commercial terms and conditions and at market rates. Note 32. Related party transactions Parent entity Donaco International Limited is the legal parent entity. Donaco International Limited is listed on the Australian Securities Exchange (ASX: DNA). Subsidiaries Interests in subsidiaries are set out in note 34. Key management personnel Disclosures relating to key management personnel are set out in note 29 and the remuneration report included in the Directorsâ€™ Report. Transactions with related parties The following transactions occurred with related parties: Consolidated 2017 2016 $ $ Labour hire fee paid to Star Vegas Resort & Club Co., Ltd â€“ a director-related entity 11,959,472 10,915,776 Leasing fees paid to Lee Hoe Property Co., Ltd â€“ a director-related entity 156,012 16,159 Rental received from directorâ€™s immediate family 111,734 116,100 Purchase of fixed assets by DNA Star Vegas from Star Vegas Resort & Club Co., Ltd â€“ a director-related entity â€“ 1,030,727 Technical support fees paid by Lao Cai JVC to iSentric Limited â€“ a director-related entity 187,214 â€“ Licence agreement for occupation of office space paid to Infinite Capital Co., Ltd â€“ a director-related entity 45,840 â€“ Management fees received for Star Paradise Casino property from MMD Travel Co Ltd â€“ a director-related entity 2,338,782 â€“ Management fees paid to previous owner of DNA Star Vegas Co., Ltd â€“ a director-related entity 19,045,688 20,492,174 Disposal of property, plant and equipment to previous owner of DNA Star Vegas Co., Ltd â€“ a director-related entity 586,237 â€“ The above transactions occurred at commercial rates. Guarantees entered into by the parent entity in relation to the debts of its subsidiaries As at 30 June 2017, the parent entity acts as a guarantor for the facility provided by Mega International Commercial Bank Co. Limited to a controlled entity, Donaco Hong Kong Limited. Contingent liabilities The parent entity had no contingent liabilities as at 30 June 2017 and 30 June 2016. Capital commitments â€“ property, plant and equipment The parent entity had no capital commitments for property, plant and equipment at as 30 June 2017 and 30 June 2016. Significant accounting policies The accounting policies of the parent entity are consistent with those of the consolidated entity, as disclosed in note 1, except for the following: â€¢ investments in subsidiaries are accounted for at cost, less any impairment, in the parent entity â€¢ dividends received from subsidiaries are recognised as other income by the parent entity.