Annual Report 2002–03 > Table of Contents > Financial Statements 2002–03 > Notes to and forming part of the Financial Statements > Note 7

Note 7–Interest Bearing Liabilities

	2002–03	2001–02
	$'000	$'000
Finance lease commitments

Payable:
within one year	141	417
in one to five years	133	273
greater than five years	0	0
Minimum lease payments	274	690
Deduct: future finance charges	(19)	(79)
*Net lease liability*	255	611

Lease Liability is represented by:
Current	130	356
Non-current	125	255
*Net lease liability*	255	611

Rental contracts for the hire of computer equipment, peripherals and other equipment, and have been treated as finance leases. The hire contracts are effectively non-cancellable. While ownership will never pass to JHD, all the risks and benefits of ownership do pass to JHD for the duration of the rental period. The agreement periods range from three to five years. There are no contingent rentals.

Next: Provisions
Previous: Non-financial Assets