39 RELATED PARTY TRANSACTIONS (a) During the year the Group transacted with related parties. Transactions which are not dealt with elsewhere in the financial statements are as follows: GROUP COMPANY NOTES Sep-23 MUR m Sep-22 MUR m Sep-23 MUR m Sep-22 MUR m Interest income from loans Subsidiaries 5 – – 11.6 12.1 Management fees Associates 7 1.3 2.2 1.3 2.2 Income related to merchant activities Companies with common shareholders 6 6.9 7.2 6.9 7.2 Purchase of goods & services from Companies with common shareholders 17.4 10.0 17.4 10.0 Sales of goods & services from Companies with common shareholders 60.2 60.5 59.0 60.5 Financial charges Subsidiaries – – 3.8 1.8 Loans payable to Subsidiary 27 – – 134.8 130.0 Loans and leases receivable from Companies with common shareholders 16 101.4 92.1 101.4 92.1 Subsidiaries 16 – – 54.1 1,087.8 Amount owed to Companies with common shareholders 28 57.0 52.2 57.0 52.2 Right-of-use assets Companies with common shareholders 23 138.3 149.8 138.3 149.8 Lease liabilities Companies with common shareholders 23 175.1 180.7 175.1 180.7 Remuneration of key management personnel Short term employee benefit 144.8 138.9 129.4 121.6 Post employment benefit 8.3 7.9 7.4 6.9 153.1 146.8 136.8 128.5 The Company has given guarantees to related companies as per Note 35. The Company has recorded impairment of loans of MUR 220.5m (2022: MUR 34.5m) and intercompany receivables of MUR 4.7m (2022: MUR 17.7m) relating to amounts owed by related parties. The impairment assessments of these companies were based on ECL. Leases receivable from companies with common shareholders are unsecured facilities bearing interest from 3.75% to 10.25%, repayable on demand. The loans receivable from subsidiaries refers to an unsecured loan given to a subsidiary which is repayable to the Lender when the Borrower starts making profits, which is not expected to be realised in the next 12 months. The loan bears interest at a rate of 4% p.a. Amount owed to companies with common shareholders relate to normal trade creditors which is generally repayable within 3 months. The loan payable to subsidiary refers to a loan at call bearing variable interest at deposit rate less 0.2% (fees and charges). The loan is unsecured and repayable on demand. Settlement of amounts oustanding as at September 2023 and 2022 occurs in cash. 195 OUR YEAR AT A GLANCE OUR PEOPLE GOVERNANCE FINANCIAL STATEMENTS
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