ECCB 2023-2024 Annual Report

Eastern Caribbean Central Bank Notes to the Financial Statements For the year ended 31 March 2024 (Expressed in Eastern Caribbean dollars)

16. Leases (continued) (a) Amounts recognised in the statement of financial position (continued) (ii) Lease liabilities (continued)

Buildings $ 2,414,020 1,263,833 152,314

At 1 April 2022

Effect of modification of lease

Interest expense Lease payments

(911,594)

Balance at 31 March 2023

2,918,573

2024 $

2023 $

Maturity analysis of contractual undiscounted cash flows of lease liability Less than one year

1,005,564 2,146,837

977,395 1,984,446 335,677

One to five years More than five years

71,169

3,223,570

3,297,518

1,005,564 2,218,006

Current

977,395 2,320,123

Non-current

3,223,570

3,297,518

(b) Amounts recognised in profit or loss The following amounts are recognised in profit or loss:

2024 $

2023 $

955,150 171,764 75,000

Depreciation charge on right-of-use assets Interest expense on lease liabilities Expenses relating to short-term leases

788,370 152,314 238,450

1,201,914

1,179,134

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