Schedules forming part of the Financial ... - Thomas Cook India

88
Year ended
31st December, 2011
Thomas Cook (India) Limited
Schedules forming part of the Consolidated Financial Statements
for the year ended 31st December, 2011
SCHEDULE “Q” : (Contd.)
Year ended
31st December, 2010
Rupees Rupees
(f) Disclosures for Leases
(A) Finance Leases
(i) Minimum Lease Payments payable
- Not later than one year 9,043,258 8,255,661
- Later than one year but not later than five years 19,989,226 20,024,836
29,032,484 28,280,497
(ii) Present Value of Minimum Lease Payments payable
- Not later than one year 6,750,229 6,100,952
- Later than one year but not later than five years 17,533,734 17,411,482
24,283,963 23,512,434
(iii) Reconciliation of Minimum Lease Payments and
their Present Value
- Minimum Lease Payments Payable as per (i) above 29,032,484 28,280,497
- Less: Finance Charges to be recognised in
subsequent years 4,748,521 4,768,063
- Present Value of Minimum Lease Payments payable
as per (ii) above 24,283,963 23,512,434
(iv) Finance Charges recognised in the Profit and Loss
Account 2,602,408 5,098,706
(B) Operating Leases
Disclosures in respect of agreements for office and
residential premises taken on lease
(i) Lease payments recognised in the Profit and Loss
Account 244,001,640 241,153,078
(ii) Significant leasing arrangements
- The Company has given refundable interest free
security deposits under certain agreements.
- The lease agreements are for a period of eleven
months to ninety years.
- The lease agreements are cancellable at the option
of either party by giving one month to six months’
notice.
- Certain agreements provide for increase in rent.
- Some of the agreements contain a provision for
their renewal.
(iii) Future minimum lease payments under noncancellable
agreements
- Not later than one year 36,058,169 28,388,396
- Later than one year and not later than five years 35,593,819 35,382,667
- Later than five years 2,323,943 2,028,619