Financial statements
NOTES TO THE FINANCIAL STATEMENTS
38. Operating lease commitments - minimum lease payments
The future aggregate minimum lease payments under non-cancellable operating leases are:
|
2010 |
2009 |
|||||
|
Land and |
Other |
Total |
Land and buildings £m |
Other £m |
Total £m |
|
|
Within one year |
4.8 |
1.4 |
6.2 |
4.3 |
1.4 |
5.7 |
|
Later than one year and less than five years |
17.6 |
1.7 |
19.3 |
11.7 |
2.1 |
13.8 |
|
After five years |
70.0 |
- |
70.0 |
60.8 |
- |
60.8 |
|
92.4 |
3.1 |
95.5 |
76.8 |
3.5 |
80.3 |
|
The Group leases various offices, depots and workshops under non-cancellable operating lease agreements. The leases have various terms, escalation clauses and renewal rights. Property leases are negotiated for an average term of 36 years and rentals are reviewed on average at four yearly intervals. The Company also leases plant and machinery under non-cancellable operating lease agreements.
The Company has no obligations arising under non-cancellable operating leases.