Aviva 2005 Annual Report Download - page 175
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46 – Contingent liabilities and other risk factors continued
(f) Other
In the course of conducting insurance and investment business, various Group companies receive liability claims, and become involved
in actual or threatened litigation arising therefrom. In the opinion of the directors, adequate provisions have been established for such
claims and no material loss will arise in this respect.
The Company and several of its subsidiaries have guaranteed the overdrafts and borrowings of certain subsidiaries and associates.
In the opinion of the directors, no material loss will arise in respect of these guarantees and indemnities.
In addition, in line with standard business practice, various Group companies have been given guarantees, indemnities and warranties in
connection with disposals in recent years of subsidiaries and associates to parties outside the Aviva Group. In the opinion of the directors,
no material loss will arise in respect of these guarantees, indemnities and warranties.
47 – Commitments
(a) Capital commitments
Contractual commitments for acquisitions or capital expenditures of investment property, property and equipment and intangible assets,
which were not recognised in the financial statements, were as follows:
2005 2004
£m £m
Investment property 10 17
Property and equipment 169 180
179 197
Contractual obligations for future repairs and maintenance on investment properties was £8 million (2004: £6 million).
The Group has capital commitments to its joint ventures in the amount of £34 million (2004: £15 million).
(b) Operating lease commitments
(i) Future aggregate minimum lease rentals receivable under non-cancellable operating leases are as follows:
2005 2004
£m £m
Within 1 year 26 –
Later than 1 year and not later than 5 years 44 –
Later than 5 years 13 –
83 –
(ii) Future aggregate minimum lease payments under non-cancellable operating leases are as follows:
2005 2004
£m £m
Within 1 year 110 89
Later than 1 year and not later than 5 years 330 356
Later than 5 years 422 381
862 826
The total of future minimum sub-lease payments expected to be received under non-cancellable subleases 143 132
Financial statements
Aviva plc 2005
173