Annual Report & Accounts 2004 - Harvey Nash

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Harvey Nash Group plc
Annual Report & Accounts 2004
Notes to the Financial Statements continued
for the year ended 31 January 2004
17 Provision for Liabilities and Charges
The provision for liabilities and charges at 31 January 2004 comprises the provision for future lease rental obligations on onerous leases.
The movement in provision in the year is as follows:
Group
31 January
2004
£’000
Provision at 1 February 2003 1,546
Charge for property provision
Rest of Europe 907
Utilisation of provision (812)
Provision at 31 January 2004 1,641
18 Obligations Under Hire Purchase Contracts and Finance Leases
Group
Group
31 January 31 January
2004 2003
£’000 £’000
Repayable within one year 124 248
Repayable between one and five years – 127
Total gross payments 124 375
Less finance charges and interest allocated to future periods (3) (26)
121 349
Due within one year 121 228
Due after more than one year – 121
121 349
Harvey Nash Group plc, the Company, has no obligations under hire purchase contracts and finance leases.
19 Operating Lease Commitments
The Group has annual commitments under operating leases which expire as follows:
Group
Group
31 January 31 January
2004 2003
£’000 £’000
Land and buildings
Leases expiring within one year 319 132
Leases expiring between one and five years 921 1,099
Leases expiring in more than five years 1,466 1,083
2,706 2,314
Other operating leases
Leases expiring within one year 125 166
Leases expiring between one and five years 308 460
433 626