Statement of commitments
as at 30 June 2013
Annual Report 2012/13
This statement records expenditure to which the Office is contractually committed at 30 June 2013.
Non-cancellable operating lease commitments
The Office leases property, plant, and equipment in the normal course of its business. The majority of these leases are for premises, which have a non-cancellable leasing period ranging from three to nine years.
The Office's non-cancellable operating leases have varying terms, escalation clauses, and renewal rights. There are no restrictions placed on the Office by any of its leasing arrangements.
Capital commitments
Capital commitments are the aggregate amount of capital expenditure contracted or authorised for the acquisition of property, plant, and equipment that have not been paid for or not recognised as a liability at balance date.
| Actual 2011/12 |
Actual 2012/13 |
|
| $000 | $000 | |
| Non-cancellable operating lease commitments | ||
| 1,785 | Not later than one year | 2,485 |
| 7,180 | Later than one year and not later than five years | 9,111 |
| 6,614 | Later than five years | 6,756 |
| 15,579 | Total non-cancellable operating lease commitments | 18,352 |
| Capital commitments | ||
| 2,165 | Contractual | - |
| 2,165 | Total capital commitments | - |
| 17,744 | Total commitments | 18,352 |
The accompanying notes form part of these financial statements.