RBS 2008 Annual Report Download - page 248

247RBS Group Annual Report and Accounts 2008
29 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
2008 £m £m £m £m
Finance lease assets:
Amounts receivable 1,485 6,112 12,567 20,164
Present value adjustment (613) (2,004) (3,094) (5,711)
Other movements (24) (128) (341) (493)
Present value amounts receivable 848 3,980 9,132 13,960
Operating lease assets:
Future minimum lease receivables 918 2,479 1,141 4,538
Operating lease obligations:
Future minimum lease payables:
Premises 567 1,715 3,299 5,581
Equipment 12 12 — 24
579 1,727 3,299 5,605
2007
Finance lease assets:
Amounts receivable 1,297 4,968 11,648 17,913
Present value adjustment (390) (1,766) (3,187) (5,343)
Other movements (23) (144) (288) (455)
Present value amounts receivable 884 3,058 8,173 12,115
Operating lease assets:
Future minimum lease receivables 1,073 3,046 1,473 5,592
Operating lease obligations:
Future minimum lease payables:
Premises 350 1,210 3,017 4,577
Equipment 9 14 — 23
359 1,224 3,017 4,600
Group
2008 2007
£m £m
Nature of operating lease assets in balance sheet
Transportation 5,883 6,859
Cars and light commercial vehicles 1,199 1,390
Other 617 441
7,699 8,690
Amounts recognised as income and expense
Finance lease receivables – contingent rental income (37) (23)
Operating lease payables – minimum payments 566 322
Contracts for future capital expenditure not provided for at the year end
Operating leases 237 545
Finance lease receivables
Unearned finance income 5,711 5,343
Accumulated allowance for uncollectible minimum lease receivables 96 63