Heritage Foods Limited | 30th Annual Report 2021-22

30 th Annual Report 2021-22 Heritage Foods Limited 230 45. Leases The movement in lease liabilities is as follows: Particulars For the year ended 31 March 2022 31 March 2021 Balance at the beginning of the year 44.87 65.49 Additions during the year 65.40 17.01 Finance cost accrued during the year 6.77 5.86 Payment of lease liabilities (41.68) (43.49) Lease liabilities at the end of the year 75.36 44.87 Current lease liabilities 28.23 22.51 Non-current lease liabilities 47.13 22.36 The details of the contractual maturities of lease liabilities on an undiscounted basis is as follows: Particulars As at 31 March 2022 As at 31 March 2021 Less than one year 33.65 26.33 One to five years 52.22 24.32 More than five years 0.95 2.71 Total 86.82 53.36 The Group does not face a significant liquidity risk with regard to its lease liabilities as the current assets are sufficient to meet the obligations related to lease liabilities as and when they fall due. Rental expense recorded for short-term leases for the year ended 31 March 2022 was ` 37.72 (31 March 2021: ` 20.77). Leases not yet commenced to which the Group is committed aggregated to ` Nil as on 31 March 2022. 46. Research and development expenses Particulars For the year ended 31 March 2022 31 March 2021 Capital expenditure 0.92 11.14 Revenue expenditure 8.07 1.87 8.99 13.01 47. Discontinued operations of Heritage Employees Welfare Trust (i) The financial performance presented below is for the year ended 31 March 2022 and 31 March 2021: For the year ended 31 March 2022 31 March 2021 Revenue 0.97 2.52 Expenses 5.32 10.01 Loss before tax from discontinued operations (4.35) (7.49) Tax expense - - Loss for the year from discontinued operations (4.35) (7.49) (ii) The cash flow information for the year ended 31 March 2022 and 31 March 2021 is as follows: For the year ended 31 March 2022 31 March 2021 Net cash used in operating activities (5.16) (9.42) Net cash generated from investing activities - - Net cash generated from financing activities - - Net decrease in cash and cash equivalents (5.16) (9.42) Summary of the significant accounting policies and other explanatory information (All amounts in ` millions, except share data and where otherwise stated)