RBS 2006 Annual Report Download - page 179
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Financial statements
RBS Group • Annual Report and Accounts 2006
178
Notes on the accounts continued
32 Leases
Minimum amounts receivable and payable under non-cancellable leases Group
Year in which receipt or payment will occur
After 1 year
Within 1 but within After 5
year 5 years years Total
2006 £m £m £m £m
Finance lease assets:
Amounts receivable 1,235 4,331 11,166 16,732
Present value adjustment (453) (1,648) (3,110) (5,211)
Other movements (22) (80) (295) (397)
Present value amounts receivable 760 2,603 7,761 11,124
Operating lease assets:
Future minimum lease receivables 444 2,391 2,640 5,475
Operating lease obligations:
Future minimum lease payables:
Premises 332 1,151 1,877 3,360
Equipment 76—13
339 1,157 1,877 3,373
Group
Year in which receipt or payment will occur
After 1 year
Within 1 but within After 5
year 5 years years Total
2005 £m £m £m £m
Finance lease assets:
Amounts receivable 1,297 4,733 11,604 17,634
Present value adjustment (462) (1,857) (3,628) (5,947)
Other movements (26) (136) (231) (393)
Present value amounts receivable 809 2,740 7,745 11,294
Operating lease assets:
Future minimum lease receivables 954 2,757 2,241 5,952
Operating lease obligations:
Future minimum lease payables:
Premises 310 1,103 1,700 3,113
Equipment 10 11 — 21
320 1,114 1,700 3,134
2006 2005
£m £m
Nature of operating lease assets in balance sheet
Transportation 7,414 7,742
Cars and light commercial vehicles 1,204 978
Other 291 333
8,909 9,053
Amounts recognised as income and expense(1)
Finance lease receivables – contingent rental income (37) (34)
Operating lease payables – minimum payments 366 332
Contracts for future capital expenditure not provided for at the year end
Operating leases 1,437 594
Finance lease receivables
Unearned finance income 5,211 5,947
Accumulated allowance for uncollectable minimum lease receivables 67 72
Note:
(1) In the year ended 31 December 2004 contingent rental income amounted to £51 million and minimum operating lease payments amounted to £319 million.