As at 31 March 2022 the GPhC's future minimum operating lease payments are as follows:
| 2022 | 2021 | |
| £000 | £000 | |
| Within one year | ||
| Motor vehicles | 43 | 83 |
| Property | 787 | 787 |
| Equipment | 6 | 12 |
| 836 | 882 | |
| Between one year and five years | ||
| Motor vehicles | 6 | 49 |
| Property | 886 | 1,673 |
| Equipment | - | 6 |
| 892 | 1,728 | |
| Later than five years | ||
| Property | - | - |
| - | - |
The annual cash lease payments under the operating lease for the property are £1.2m. The commitment shown above takes into account the lease incentive received on entering into the lease which is being amortised on a straight-line basis over the term of the lease at £0.5m per annum.