I am disclosing the operating lease commitments in a UK GAAP set of accounts.
A have a lease which ends mid-way through the next financial year and am aware that the enphasis under the UK guidance is annual commitment, therefore should I disclose the annual charge (i.e. 12 x monthly rental) or the total of the repayments outstanding, i.e. 6 payments?
Thanks,
Mark
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Actual payment
The requirement is to split payments committed to be made in the next year between commitments that expire in the next year, 2 - 5 years and thereafter. It is not the annualised charge.