BISICHI MINING PLC ANNUAL REPORT 2017

Financial statements Notes to the financial statements
28. EMPLOYEES
The average weekly numbers of employees of the group during the year were as follows:
Production 192 185
Administration 15 15
207 200
Staff costs during the year were as follows:
Salaries 5,993 4,864
Social security costs 161 148
Pension costs 242 200
Share based payments - 109
6,396 5,321
29. CAPITAL COMMITMENTS
Commitments for capital expenditure approved and contracted for at the year end - 762
Share of commitment of capital expenditure in joint venture - 1,489
30. HEAD LEASE COMMITMENTS AND FUTURE PROPERTY LEASE RENTALS
Present value of head leases on properties
Minimum lease
payments
2017
£’000
2017
£’000
Present value of
minimum lease
payments
Within one year 10 11 10 11
Second to fifth year 38 45 30 36
After five years 1,199 1,436 112 134
1,247 1,492 152 181
Discounting adjustment (1,095) (1,311) - -
Present value 152 181 152 181
The Company has one finance lease contract for an investment property. The remaining term for the leased investment property is 131 years.
The annual rent payable is the higher of £7,500 or 6.25% of the revenue derived from the leased assets.
The group has entered into operating leases on its investment property portfolio consisting mainly of commercial properties. These leases have terms
of between 1 and 68 years. All leases include a clause to enable upward revision of the rental charge on an annual basis according to prevailing
market conditions.
2017
£’000
2016
£’000
2017
£’000
2016
£’000
2016
£’000
2016
£’000
86 Bisichi Mining PLC