Financial Statements 2018/19


26. Lease obligations


Lessee – operating leases At 31 July the group was committed to making the following future minimum lease rental payments in respect of non-cancellable operating leases:


Total rentals payable under operating leases: Restated 31 July 2019


Land and Buildings £’000


Future minimum lease payments due: Not later than 1 year


Later than 1 year and not later than 5 years Later than 5 years


Total lease payments due


2,186 5,625 8,347


16,158


Equipment £’000


124 116 –


240


Total £’000


2,310 5,741 8,347


16,398


Group commitments in respect of land and building lease rentals have been restated for the year ended 31 July 2018 to reflect the minimum lease payments due under the Malta Campus lease agreement terms which commenced on 1 November 2017.


Lessee - finance leases


At 31 July the University was committed to making the following future minimum lease rental payments in respect of finance leases:


Total payment under finance leases:


Future minimum lease payments due: Not later than 1 year


Later than 1 year and not later than 5 years Total lease payments due


31 July 2019


Equipment £’000


1,931 2,896 4,827


31 July 2018


Equipment £’000


– – –


31 July 2018


Total £’000


2,363 7,504 9,496


19,363


94


Middlesex University


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