Page 114 - KZN Film Annual Report 2023/2024

KWAZULU-NATAL FILM COMMISSION
(Registration number M3/15/32 (834/15))
Annual Financial Statements for the year ended 31 March 2024
Notes to the Financial Statements (continued)
34. Related parties
Relationships
Members of Key Management Board Members
Independent Members
VO Senna
NC Thanjekwayo JM Motsepe
BM Malange
M Mzimela
L Berning
S Zondi
L Ngcobo
KP Simelane
D Ramuedzi
Figures in Rand
2024
2023
Schedule 3C PFMA Listed Entity (KwaZulu-Natal Department of Economic Development Tourism and Environmental Affairs- EDTEA 100% Shareholdership)
Related party balances Investment in Associate
KZN Studio (Pty) Ltd 12 450 847 13 220 460 The investment has been impaired to reflect the latest bank statements balance based on advice from the National Treasury. Related party transactions
Grants received
Released to income from EDTEA Special Grants
Transfers to related EDTEA Entities
Tourism KZN - Ilembe activation
Compensation to Members and Key Management
Key Management Remuneration Board and Committee member’s fees
Department of Trade, Industry and Competition
Chief Operations Officer JM Motsepe - Secondment
84 157 000 83 855 000 750 000 1 850 000 --
1 000 000
7 276 127 1 174 296
1 699 752
-
6 870 694 1 537 242
-
ANNUAL REPORT 2023/2024
112