Page 222 - UBP - IR2020
P. 222

FINANCIAL STATEMENTS
Notes to the financial statements
For the year ended June 30 2020
20 INTEREST-BEARING LOANS AND BORROWINGS (CONTINUED)
(c) Amounts payable under finance leases
Amounts payable under finance leases:
Not later than 1 year Later than than 1 year year and not later than than 5 years
Less: Future finance charges
Present value of minimum lease payment
Amounts payable under finance leases:
Not later than 1 year Later than than 1 year year and not later than than 5 years
MINIMUM LEASE PAYMENTS
THE GROUP
2019 Rs’000
15 650 32 146
47 796 (5 311)
42 485
THE COMPANY
2019 Rs’000
489 1 365
1 854 (210)
1 644
PRESENT VALUE OF MINIMUM LEASE PAYMENTS
THE GROUP
2019 Rs’000
13 353 29 132
42 485
THE COMPANY
2019 Rs’000
396 1 248
1 644
Finance leases
relate to to to to motor vehicles and and plant and and machinery with lease lease terms of 5 to to to to 7 years
The Group has the option to to to to purchase the the the motor vehicles and and plant and and machinery for a a a a a a a a a a nominal amount at the the the conclusion of the the the lease period The Group’s obligations under finance leases
are are secured secured by the the lessor’s title to the the leased assets Finance lease lease lease liabilities are are effectively secured secured as as as the the the the rights to to the the the the leased assets revert to to the the the the lessor in in the the the the event of default and and bear interest between 5 5 5 35% and and 12 5% 5% per annum Lease Lease liabilities liabilities carry interest at at annual rates which vary between 5 5 5 35% and 12 5% 5% Leased liabilities liabilities are effectively secured as as as the right to to the the the leased assets revert to to the the the lessor in the the the event of default 222 - UBP INTEGRATED REPORT 2020
































































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