Annual report and accounts 2023 - Flipbook - Page 167
Strategic Report
Corporate Governance
Accounts
13. Leases
This note provides information for leases where the Group is a lessee. The Group is not a lessor.
(i)
Amounts recognised in the balance sheet
The balance sheet shows the following amounts relating to leases:
Group
Company
2023
£m
2022
£m
2023
£m
2022
£m
1.8
3.6
0.7
3.5
18.9
4.1
19.7
3.5
5.4
4.2
23.0
23.2
1.5
3.6
1.3
2.8
2.9
18.4
2.6
19.3
5.1
4.1
21.3
21.9
2023
£m
2022
£m
Depreciation charge of right-of-use assets
Buildings
Plant, equipment and vehicles
0.6
1.0
0.4
1.1
1.6
1.5
Interest expense (including finance cost)
Expense related to short-term leases (included in cost of goods sold and administrative expenses)
0.1
0.1
0.1
0.1
Right-of-use assets
Buildings
Plant, equipment and vehicles
Lease liabilities
Current
Non-current
Company only right-of-use assets and lease liabilities relate to assets leased under the asset-backed funding arrangements, as outlined in Note 27.
Additions to the right-of-use assets during 2023 were £2.9m (2022:£3.1m) for the Group £1.4m (2022: £3.1m) for the Company.
(ii)
Amounts recognised in the income statement
The income statement shows the following amounts relating to leases:
The total cash outflow for leases in 2023 was £1.7m (2022: £1.5m).
At 29 January 2023 the Group has no commitments for short-term leases.
There are no expenses in relation to variable lease payments not included in the measurement of the lease liabilities or income from sub-leasing right-of-use assets.
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