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Notes to the Consolidated Financial Statements (continued)
7. Leases (continued) Right-of-use assets
The Group had a lease contract for an office space that expired on 22 January 2022 and a new lease contract was entered into on 23 January 2022.
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Set out below are the carrying amounts of right-of-use assets recognised and the movements during the year:
The movement in the lease liabilities during the year is as follows:
The maturity analysis of lease liabilities is disclosed in Note 3.
The following are the amounts recognised in profit or loss:
The income from sub-leasing right-of-use assets is included in ‘Rental Income’.
7. Leases (continued)
Amounts recognised in the statement of cash flows:
The Group sub-leased an office building that it leased in 2017. The Group had classified two of the sub-leases as a finance lease because they were for the remainder of the head lease term. One sub-lease was classified as a finance lease upon application, and another one during the year 2019. Both the sub-leases expired on 22 January 2022.
The following table sets out a maturity analysis of lease receivables, showing the undiscounted lease payments to be received after the reporting date:
