b0ce1b84-5d9a-4166-9e8d-5dbf88aa5af6_Draft_Statement_of_Accounts_2025_26_acc3.pdf — PaddleOCR-VL (Baidu)

Note 29 Leases

AUTHORITY AS LESSEE

Right-of-use assets

The council classifies contracts as leases based on their substance. Contracts and parts of contracts, including those described as contracts for services, are analysed to determine whether they convey the right to control the use of an identified asset, through rights both to obtain substantially all the economic benefits or service potential from that asset and to direct its use. Leases are recognised as right-of-use assets with a corresponding liability at the date from which the leased asset is available for use (or the IFRS 16 transition date, if later). This includes arrangements with nil consideration, peppercorn or nominal payment.

Right-of-Use Assets	Other Land & Building £000's	Vehicles, Plant & Equipment £000's	Total £000's
Net Book Value 1 April 2025	46,499	1,086	47,586
Reclassification from Other Land & Building on transition of IFRS 16	-	-	-
Additions	23,739	325	24,064
Revaluation increases/(decreases) recognised in the Revaluation Reserve	294	-	294
Revaluation increases/(decreases) recognised in the Surplus/Deficit on the Provision of Services	(582)	-	(582)
Depreciation	(15,809)	(512)	(16,322)
Derecognition and Disposals	(2,393)	(41)	(2,434)
Net Book Value 31 March 2026	51,749	858	52,606

Right-of-Use Assets	Other Land & Building £000's	Vehicles, Plant & Equipment £000's	Total £000's
Net Book Value 1 April 2024 on transition of IFRS 16	60,167	1,448	61,615
Reclassification from Other Land & Building on transition of IFRS 16	17,580	-	17,580
Additions	3,344	177	3,521
Revaluation increases/(decreases) recognised in the Revaluation Reserve	(2,301)	-	(2,301)
Revaluation increases/(decreases) recognised in the Surplus/Deficit on the Provision of Services	190	-	190
Depreciation	(24,647)	(499)	(25,146)
Derecognition and Disposals	(7,834)	(39)	(7,873)
Net Book Value 31 March 2025	46,499	1,086	47,586

*CIPFA has mandated that councils use a modified retrospective approach to adopting IFRS 16. Wherever applicable, opening balances brought forward from 31 March 2024 have been adjusted on transition to IFRS 16 to show restated balances as at 1 April 2024.

Transactions under Leases

The council incurred following expenses and cash flows in relation to leases: