Plan Worldwide Annual Review and Combined Financial ...
Plan Worldwide Annual Review and Combined Financial ...
Plan Worldwide Annual Review and Combined Financial ...
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
13. Related parties<br />
Hilfe mit <strong>Plan</strong> is an independent foundation, registered in Germany, that administers a number of independent non-<strong>Plan</strong> trusts. As two of<br />
its directors are also on the Board of <strong>Plan</strong> Germany, Hilfe mit <strong>Plan</strong> is considered to be a related party of <strong>Plan</strong> Germany. During the year to<br />
30 June 2012 <strong>Plan</strong> Germany donated €5.8 million to Hilfe mit <strong>Plan</strong>. In January 2012 Hilfe mit <strong>Plan</strong> purchased the building that is currently partly<br />
occupied by <strong>Plan</strong> Germany. Once the building has been refurbished, it will be occupied by both <strong>Plan</strong> Germany <strong>and</strong> by other tenants so will provide<br />
a steady source of future income for Hilfe mit <strong>Plan</strong>. <strong>Plan</strong> Germany has secured rent predictability <strong>and</strong> cost stability for future years through the<br />
arrangement. In 2012 <strong>Plan</strong> Germany paid rental of €0.2 million to Hilfe mit <strong>Plan</strong>. Also in 2012, <strong>Plan</strong> Germany received donations of €1.2 million<br />
from Hilfe mit <strong>Plan</strong> <strong>and</strong> its independent trusts for development programmes. There were no amounts owing to or from Hilfe mit <strong>Plan</strong> at<br />
30 June 2012 or 30 June 2011.<br />
In the previous financial year there were payments of €0.2 million to related parties.<br />
<strong>Plan</strong> International <strong>Worldwide</strong> <strong>Combined</strong> <strong>Financial</strong> Statements for the year ended 30 June 2012<br />
39