KINGSMEN CREATIVES LTD
ANNUAL REPORT
2014
93
Notes to the Financial Statements
31 December 2014
31.
Capital expenditure commitments
Capital expenditure contracted for at the end of the reporting year but not recognised in the financial statements are
as follows:
Group
Company
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Commitments in respect of contracts
placed for the purchase of property,
plant and equipment
11,923
45
–
–
32.
Operating lease payment commitments – as lessee
The Group has entered into lease agreements for office premises and equipment. These leases, of which some are
cancellable, have remaining lease terms of between 1 to 5 (2013: 1 to 4) years and some of these leases have renewal
options or escalation clauses included in the contracts. There are no restrictions placed upon the Group by entering
into these leases.
Future minimum lease payments payable under operating leases at the end of the reporting year are as follows:
Group
Company
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Not later than one year
3,649
2,856
1,923
1,455
Later than one year and not later
than five years
9,105
4,155
6,401
1,586
12,754
7,011
8,324
3,041
33.
Operating lease income commitments —as lessor
The Group has entered into lease agreements for office premises and machinery. These non- cancellable leases have
remaining lease terms of 5 (2013: 1) years with no renewal option or escalation clauses included in the contracts.
Future minimum lease payments receivable under operating leases at the end of the reporting year are as follows:
Group
Company
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Not later than one year
822
540
–
–
Later than one year and not later
than five years
3,472
–
–
–
4,294
540
–
–
