BWP TRUST ANNUAL REPORT 2015
47
14. CAPITAL EXPENDITURE COMMITMENTS
Estimated capital expenditure contracted for at balance date, but not
provided for in the financial statements, which is payable:
June 2015
$000
June 2014
$000
Not later than one year:
Unrelated parties
-
-
Related parties
3,272
72,976
3,272
72,976
Capital Commitments to related parties
Rockingham
In September 2013, the Trust committed to expand its Rockingham
Bunnings Warehouse, Western Australia, at a cost of $4.4 million. The
development is expected to be completed in October 2015. Currently,
an amount of $2.5 million has been recorded in investment properties
and trade creditors and accruals, representing the percentage of
building work completed as at 30 June 2015.
Lismore
In November 2014, the Trust committed to expand its Lismore
Bunnings Warehouse, New South Wales, at a cost of $4.6 million.
The development is expected to be completed in August 2015.
Currently, an amount of $3.2 million has been recorded in investment
properties and trade creditors and accruals, representing the
percentage of building work completed as at 30 June 2015.
15. AUDITOR’S REMUNERATION
June 2015
$
June 2014
$
Audit and review of the financial
statements
KPMG Australia
83,565
79,630
Other services
KPMG Australia – taxation
services
27,700
24,000
KPMG Australia – property
consultancy services
81,392
-
Total auditor’s remuneration
192,657
103,630
16. RELATED PARTY DISCLOSURES
(a) Relationship with theWesfarmers Group
Wesfarmers Investments Pty Limited, a controlled entity of
Wesfarmers Limited, holds 159,014,206 (2014: 156,540,889) units in
the Trust, representing 24.75 per cent of the units on issue at 30 June
2015 (2014: 24.68 per cent).
(b) Transactions with theWesfarmers Group
During the year ended 30 June 2015, the Trust had the following
transactions with the Wesfarmers Group:
June 2015
$
June 2014
$
Bunnings Group Limited
1
Rent and other property income 134,766,430 118,421,255
Rent and other property income
received in advance
10,460,730
9,548,859
Amounts receivable
162,928
291,975
J Blackwood and Son
Pty Limited
1
Rent
749,261
1,137,409
Amounts receivable
128,291
23,778
Officeworks Superstores
Pty Ltd
1
Rent
1,315,695
799,600
Amounts receivable
26,130
-
BWPManagement Limited
1
Responsible entity fees
11,071,092
8,566,858
Fees waived
2
-
849,016
Wesfarmers Limited
Insurance premiums
613,512
255,385
1
A controlled entity of Wesfarmers Limited
2
During 2014, as part of an agreement to acquire 10 BunningsWarehouse
properties fromBunnings Group Limited, the responsible entity waived its
entitlement to fees in respect to these properties purchased until 30 June 2014.
