PA Group Annual Report 2007
NOTES TO THE FINANCIAL
STATEMENTS
(continued)
17. Finance leases

Future minimum payments under finance leases are as follows:
Group Group Company Company
2007 2006 2007 2006
£000 £000 £000 £000
Within one year 315 301 299 276
In more than one year, but less than five years 566 881 565 864
881 1,182 864 1,140
The finance leases are secured by a first legal charge over certain computer and telephone equipment.
18. Bank loans
Group Group Company Company
2007 2006 2007 2006
£000 £000 £000 £000
Bank loan expiring:
Within one year 211 2,409 211 2,409
In more than one year, but not more than two years 1,023 1,456 1,023 1,456
In more than two years, but not more than five years 2,627 1,680 2,627 1,680
In more than five years 1,341 813 1,341 813
5,202 6,358 5,202 6,358
The group has three bank loans. The first one, which commenced in May 2005, was for £3,927,000 (€5,800,000) (outstanding
as at 31 December 2007 £1,562,000 (€2,320,000)), is denominated in Euros, bears interest based on EURIBOR plus 0.75%,
and is secured by a first legal charge over 292 Vauxhall Bridge Road, London SW1V 1AE.
The second, which commenced in September 2006, was for £3,500,000 (outstanding as at 31 December 2007 £3,143,000),
is denominated in Pounds Sterling, bears interest based on LIBOR capped at 5% plus 1.25% and is also secured by a first
legal charge over 292 Vauxhall Bridge Road, London SW1V 1AE.
The third, which commenced on 21 December 2006, was for £754,409 (outstanding as at 31 December 2007 £497,000),
is denominated in Pounds Sterling, bears interest fixed at 5.5% plus 1.25% and is secured by a first legal charge over certain
computer and telephone equipment.
34
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44