UK GAAP Parent Company Financial Statements: Note 14
For the Year Ended 31 December 2007
14. Operating Lease Arrangements
| 2007 £'000 |
2006 £'000 |
|
|---|---|---|
| Minimum lease payments under operating leases recognised in income for the year | 730 | 445 |
At the Balance Sheet date, the Company had annual commitments under non-cancellable operating leases, for land and buildings, as follows:
| 2007 £'000 |
2006 £'000 |
|
|---|---|---|
| Operating leases which expire within one year | 510 | - |
| Operating leases which expire between two and five years | 220 | 445 |
| 730 | 445 |
Operating lease payments represent rentals payable by the Company for certain of its properties. Leases are negotiated for an average term of four years.