Annual Report 2010 in PDF - BBA Aviation

Financial statements Notes to the Consolidated Financial Statements – continued
85 Independent Auditor’s
Report to the Members of
BBA Aviation plc in Respect
of the Consolidated
15. Operating lease arrangements
The Group as lessee
Financial Statements 2010 2009
86 Consolidated Income
Statement
£m £m
87 Consolidated Statement of
Comprehensive Income
88 Consolidated Balance Sheet
89 Consolidated Cash Flow
Statement
90 Consolidated Statement of Within
Minimum lease payments under operating leases recognised as an expense in the year 49.9 51.2
At the balance sheet date, the Group has outstanding commitments under non-cancellable operating leases, which fall due as follows:
one year 59.7 56.0
Changes in Equity In the second to fifth years inclusive 200.1 189.8
91 Accounting Policies of
the Group
After five years 455.2 457.5
95 Notes to the Consolidated 715.0 703.3
Financial Statements
126 Independent Auditor’s
Report to the Members of
BBA Aviation plc in Respect
of the Parent Company
Financial Statements
127 Company Balance sheet
128 Accounting Policies of
the Company
129 Notes to the Company
Financial Statements
134 Principal Subsidiary
Undertakings
135 Five Year Summary
136 Shareholder Information
106 — Consolidated Financial Statements
Operating lease payments represent amounts payable by the Group for certain of its ofce properties, plants, FBOs, and equipment. Leases are
negotiated for an average term of 11 years for ofce properties, six years for plants and warehouses, 26 years for FBOs, and fve years for
equipment. Rentals are generally fxed or adjusted based on inf ation.
The total future minimum sub-lease payments expected to be received under non-cancellable sub-leases at 31 December 2010 were
£52.9 million (2009: £37.6 million).
16. Bank overdraft and loans
Bank overdrafts
Bank loans
Loans other than from banks
The borrowings are repayable as follows:
On demand or within one year
In the second year
In the third to fifth years inclusive
After five years
Less: Amount due for settlement within 12 months (shown within current liabilities)
Amount due for settlement after 12 months
The fair value of the Group’s borrowings are not materially diferent from their carrying values.
The carrying amounts of the Group’s borrowings are denominated in the following currencies:
Sterling
£m
US Dollar
£m
Euro
£m
2010
£m
2009
£m
2010 2009
£m £m
29.4
387.2
1.3
31.7
468.9
1.9
417.9 502.5
98.7
319.0
–
0.2
417.9
(98.7)
319.2
Other
£m
33.1
67.8
401.4
0.2
502.5
(33.1)
469.4
31 December 2010
Bank overdrafts 22.1 3.4 3.0 0.9 29.4
Bank loans – 386.1 – 1.1 387.2
Loans other than from banks 0.2 0.8 – 0.3 1.3
22.3 390.3 3.0 2.3 417.9
31 December 2009
Bank overdrafts 20.1 7.9 2.9 0.8 31.7
Bank loans 10.0 457.1 – 1.8 468.9
Loans other than from banks 0.2 1.5 – 0.2 1.9
30.3 466.5 2.9 2.8 502.5
Total
£m