Page 71 - RFU Annual Report 2017

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Financial Statements

24. Share capital
2017 2016
Allotted, called up and fully paid £m £m

2,000 allotted, called up and fully paid shares of £1 each - -

There are a total of 2,000 allotted, issued and fully paid up ordinary shares of £1 each as at 30 June 2017. Each member
of the Rugby Football Union must hold one share which is subject to forfeiture upon ceasing to be a member.

25. Operating lease and other commitments

Future minimum rentals payable under non-cancellable operating leases are as follows:

2017 2016
Lease arrangements where Group and Parent are lessees £m £m

Motor vehicles
Group
Within one year - 1.9
Between two and five years - -
- 1.9

Parent
Within one year - 0.6
Between two and five years - -

- 0.6

Mitsubishi Motors came on board during the 2016/17 financial year as the official vehicle provider to the RFU Group. The
vehicles are provided under a Value in Kind (VIK) arrangement and as such there are no physical payments of cash made
for the use of the vehicles.

26. Reserves

Debenture reserve
The debenture reserve comprises the accumulated gains on the sale of debentures issued prior to 2000.
Other reserve
The other reserve primarily comprises the amount recognised in respect of the obligation to acquire the Compass Group’s
non-controlling interest in TEL.
Profit and loss reserve
This reserve records the accumulated gains and losses to date through the Statement of total comprehensive income.

Annual Report 2017