ANNUAL REPORT 2004–05 - V/Line

CONSOLIDATED PARENT2005 $’000 2004 $’000 2005 $’000 2004 $’00012 MONTHS 11.5 MONTHS 12 MONTHS 11.5 MONTHSNOTE 15 CONTROLLED ENTITIESIn 2005 V/Line Corporation made no purchases of another entity. In 2004 V/Line Corporation purchased100% of the shares of V/Line Passenger Pty. Ltdfor $1. Details of the acquisition are as follows.ConsiderationCash acquired - 3,743 - -Inflow of cash - 3,743 - -Fair value of net assets of entity acquired:Property, plant and equipment - 170,891 - -Cash asset - 3,743 - -Inventories - 44 - -Trade receivables - 3,835 - -Other receivables - 6,314 - -Prepayments - 2,154 - -Payables - (19,855) - -Employee provisions - (27,883) - -Other provisions - (2,474) - -Total net assets acquired - 136,769 - -Consideration (paid cash $1) - - -Gain on purchase - 136,769 - -The following entities are controlled by V/Line Passenger Corporation as at 30 June 2005:• V/Line Passenger Pty. Ltd.• Victorian Railway Heritage Operations Pty. Ltd.NOTE 16 MINISTERS AND ACCOUNTABLE OFFICERSIn accordance with the Ministerial Directions issued by the Minister for Finance under the Financial Management Act 1994, the following disclosures aremade regarding responsible persons for the reporting period.The names of persons who were Responsible Persons of the Consolidated entity at any time during the financial year were:Responsible Minister:The Hon. Peter Bachelor MLA, Minister for TransportDirectors of the Board:Mr Frank A. TaitDr Meredith A. DoigMr Colin M. NicolMs Catherine L. ScottMr Andrew L. Neal (resigned 11 April 2005)Accountable Officer:Mr Andrew L. Neal (resigned 5 April 2005)Mr Rob Barnett (appointed 6 April 2005)