Commitments

Future operating lease commitments

The Group leases various offices under non-cancellable operating lease agreements. The lease terms are between one and five years, and the majority of lease agreements are renewable at the end of the lease period at market rates.

The Group is required to give six months’ notice for the termination of the majority of these agreements.

The lease expenditure charged to the income statement during the year is disclosed in note 1.3. The future aggregate minimum lease payments under non-cancellable operating leases are as follows: