Financial Statements For the year ended
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- (328) (2,761) Net present values 4,730 4,726 4,448 4,310 2,740 9,050 30,004
| years £’000 After 5 years £’000 Total £’000 31 March 2022 Lease payments 5,489 5,339 4,923 4,649 2,987 9,378 32,765 Finance charges (759) (613) (475) (339) (247) (328) (2,761) Net present values 4,730 4,726 4,448 4,310 2,740 9,050 30,004 31 March Lease payments 5,724 4,922 4,624 4,605 12,325 Finance charges (902) (732) (597) (469) (339) (575) (3,614) Net present values 4,992 4,325 4,155 4,266 11,750 In the previous year the above figures included figures for dilapidations. These have now been shown separately in the provisions note (see note 25) and the prior year’s figures have been restated accordingly. Association of Chartered Certified Accountants Notes to the Financial Statements for the year ended 31 March 2022 20 Leases (continued) The table below describes the nature of ACCA’s leasing activities by type of right-of-use asset recognised on the balance sheet: Leasehold Improvements Right-of-use asset Number of right-of-use assets leased 37 Range of remaining term month to 9 years 4 months Average remaining lease years 8 months Number of leases with extension options nil Number of leases with options to purchase nil Number of leases with variable payments linked to an index 3 Number of leases with termination options 2 ACCA have lease contracts that include extension and termination options. These options are negotiated by ACCA to provide flexibility in managing the leased asset and align with ACCA’s business needs. There are no undiscounted potential future rental payments relating to periods following the exercise date of extension and termination options that are not included in the lease term. Lease payments not recognised as a liability ACCA has elected not to recognise a lease liability for short term leases (leases with an expected term of 12 months or lessor for leases of low value assets. Payments made under such leases are expensed on a straight-line basis. The expense relating to payments not included in the measurement of the lease liability is as follows: Download 0.68 Mb. Share with your friends:
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