Wellcom_FY11-Financial-Report

No financial assets and financial liabilities are

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Unformatted text preview: lues versus carrying amounts Carrying amounts of assets and liabilities approximate fair value. No financial assets and financial liabilities are readily traded on organised markets in standardised form and therefore no fair value hierarchy disclosure is required. The aggregate fair value and carrying amounts of financial assets and financial liabilities are disclosed in the statement of financial position and in the notes to the financial statements. 64 Wellcom Group Limited Notes to the Consolidated Financial Statements 25. Commitments for expenditure a) Plant and equipment For personal use only There are no known material future commitments for expenditure at the date of this report. b) Lease commitments Group as lessee i) Non cancellable operating leases – building rental The Group leases various offices under non-cancellable operating leases expiring within 1 to 7 years. The leases have varying terms, escalation clauses and renewal rights. On renewal, the terms of the leases are renegotiated. Commitments for minimum lease payments in relation to non-cancellable operating leases are payable as follows: 2011 $’000 2,338 7,672 659 10,669 Within one year Later than one year but not later than five Later than five years 2010 $’000 2,470 4,705 2,524 9,699 ii) Finance lease and hire purchase During the...
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