48. Lease liabilities
2019 | 2018 | |
|---|---|---|
€m | €m | |
At 31 December 2018 | - | - |
Initial application of IFRS 16 | 0.3 | - |
Payments | (0.2) | - |
Lease interest expense recognised in period | - | - |
At 31 December 2019 | 0.1 | - |
Analysed as: | ||
Current liabilities | 0.1 | - |
The Company applied IFRS 16 Leases with effect from 1 January 2019 as set out at note 38 Accounting Policies. At initial application, the Company recognised right of use assets and related lease liabilities by adjusting the opening balances brought forward from the Statement of Financial Position reported at 31 December 2018. The impact of the application of IFRS 16 is set out at note 38.
The Company’s obligations are secured by lessors’ title to the leased assets.