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BAKKAVOR ANNUAL REPORT AND ACCOUNTS 2012
notes to the consolidated financial statements
continued
35
OPERATING LEASE ARRANGEMENTS
The Group as lessee
52 weeks 52 weeks
ended ended
29 December 31 December
£m 2012 2011
Continuing operations
Minimum lease payments under operating leases recognised as an expense in the period 10.8 9.6
Discontinued operations
Minimum lease payments under operating leases recognised as an expense in the period 0.7 0.8
At the statement of financial position date, the Group had outstanding commitments for future minimum lease payments under non-cancellable
operating leases, which fall due as follows:
Land and buildings
Other
29 December 31 December 29 December 31 December
£m 2012 2011 2012 2011
Operating leases which expire:
Within one year 6.1 6.1 4.3 3.9
Within two to five years 23.8 20.3 6.4 5.6
After five years 42.2 44.7 2.1 –
72.1 71.1 12.8 9.5
The Group leases various offices and operational facilities under non-cancellable operating lease arrangements. The leases have various terms,
escalation clauses and renewal rights. The Group also leases plant and machinery under non-cancellable operating lease agreements.
36
RETIREMENT BENEFIT SCHEMES
The Group operates a number of pension schemes in the UK and overseas. These schemes are either trust or contract based and have been set up in
accordance with appropriate legislation. The assets of each of the pension schemes are held separately from the assets of the Company.
In the UK, the two main schemes are a defined contribution scheme which is open to all UK employees joining the Group (full or part time) and the
other a funded defined benefit scheme which was closed for future accrual in March 2011.
Pension (credits)/costs charged in arriving at profit on ordinary activities before taxation were:
52 weeks 52 weeks
ended ended
29 December 31 December
£m 2012 2011
UK defined benefit scheme net credit (1.8) (1.6)
UK defined benefit scheme exceptional credit – (12.0)
UK defined contribution scheme net charge 4.3 3.2
Overseas net charge 0.3 0.3
Total charge/(credit) 2.8 (10.1)
During the prior period, an exceptional credit arose due to the defined benefit scheme closing to future accrual in March 2011.
Defined contribution schemes
The total cost charged to income of £4.6 million (2011: £3.5 million) represents contributions payable to these schemes by the Group at rates specified
in the rules of the plans. No amounts were owing at the period end for the defined contribution schemes (2011: £nil)
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