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Notes to the Financial Statements

For the year ended 30 June 2009

  • 30.

    COMMITMENTS (continued)

    • (c)

      Operating lease commitments – Consolidated Entity as lessee

O p e r a t i n g l e a s e s i n c l u d e p r o p e r t y , d i s p l a y h o m e s , c o m p u t e r e q u i p m e n t l e a s e s a n d l e a s e s f o r m o t o r v e h i c l e s p r o v i d e d u n d e r

novated leases. Certain property leases include inflation escalation and market review clauses. No renewal or purchase options exist in relation to operating leases, and no operating leases contain restrictions on financing or other leasing activities.

Future minimum rentals payable under non-cancellable operating leases as at 30 June 2009 are as follows: Consolidated

Parent

2009

2008

2009

$’000

$’000

$’000

2008 $’000

4,399

4,031

7,576

6,044

Operating leases Commitments in relation to leases contracted for at the reporting date but not recognised as liabilities: Within one year After one year, but not more than five years

Total operating leases

11,975

10,075

9,768

7,661

2,207

2,414

Represented by: Non-cancellable operating leases Cancellable operating leases

Total operating leases

11,975

10,075

2009

2008

2009

2008

$’000

$’000

$’000

$’000

53

4

53

4

Total operating leases

Represented by: Non-cancellable operating leases

(d) Operating lease commitments – Consolidated Entity as lessor

Operating leases include property leases which have remaining terms between 1 and 12 months. All property leases include inflation escalation and market review clauses.

Future minimum rentals receivable under non-cancellable operating leases as at 30 June 2009 are as follows: Consolidated

Parent

4

Operating leases Commitments in relation to leases contracted for at the reporting date but not recognised as assets: Within one year

53

74 AVJennings Limited ABN 44 004 327 771

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