Future minimum payments due under non-cancellable operating lease rentals are as follows:
2006 £m |
2005 £m |
|
---|---|---|
Less than one year | 6 | 6 |
Between one and five years | 32 | 33 |
More than five years | 39 | 45 |
Total | 77 | 84 |
The Group leases a number of its offices under operating leases. None of the leases include contingent rentals.
During the year to 31 March 2006, £6 million was recognised as an expense in the income statement in respect of operating leases (2005: £9 million). £2 million was recognised as income in the income statement in respect of subleases (2005: £2 million).