Statement of Accounts 2011/2012 - Blackburn with Darwen Borough ...

754
17,015
Explanation of movements in year
Increase in underlying need to borrow
(supported by government financial
assistance)
Increase in underlying need to borrow
(unsupported by government financial
assistance)
NOTES TO THE FINANCIAL STATEMENTS
0
3,528
0 Assets acquired under PFI contracts 27,211
17,769 30,739
38 Leases
Council as Lessee
Finance Leases
The Council has not entered into any finance leases as a lessee.
Operating Leases
The Council has entered into a number of operating leases in respect of land and buildings, and vehicles, plant
and equipment.
The future minimum lease payments due to non-cancellable leases in future years are:
31 March
2011
31 March
2012
£000 £000
1,548 Not later than one year 1,951
Later than one year and not later than five
3,269 years 3,001
18,726 Later than five years 18,429
23,543 23,381
The expenditure charged to the Comprehensive Income and Expenditure Statement during the year in relation to
these leases was:
31 March
2011
31 March
2012
£000 £000
1,837 Minimum lease payments 2,186
95 Contingent rents 111
1,932 2,297
Council as Lessor
Finance Leases
The Council leases out land in respect of The Mall shopping centre under a finance lease with a remaining term of
131 years.
The Council has a gross investment in the lease, made up of minimum lease payments expected to be received
over the remaining term. The minimum lease payments comprise settlement of the long term debtor for the
interest in the property acquired by the lessee, and finance income earned by the Council whilst the debtor
remains outstanding. The gross investment is made up of the following amounts:
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