70 Franchise Brands plc Annual Report and Accounts 2018 21 Operating leases The Group leases its office premises and holds contract hire agreements on vehicles. The total value of minimum lease payments due until the end of the lease is payable as follows: 2018 £’000 2017 £’000 Less than one year 329 302 More than one year but less than five years 857 871 More than five years – 56 1,186 1,229 The Group maintains a number of leased properties over varying terms. The Company has no operating leases. 22 Related party transactions The following are payments to entities controlled by Directors of the Company. 2018 £’000 2017 £’000 Mark Peters (Miserden Ltd) Company secretary fee 10 10 Julia Choudhury (Winsham Capital Partners Limited) Consultancy service – 50 Nigel Wray (Brendon Street Investments Limited) Director’s fee 20 17 Related party transactions 30 77 During the year the Group employed a family member of one of the directors. The total remuneration paid was the same as other employees at an equivalent level in the organisation. There were no outstanding balances in regards to related party transactions at the year end (2017: £nil). 23 Dividends 2018 £’000 2017 £’000 Final 2017 dividend of 0.33p per Ordinary share paid and declared (2016: 0.17p) 257 81 Interim dividend of 0.21p per Ordinary share paid and declared (2017: 0.17p) 163 132 420 213 A final dividend of 0.46 pence per share is proposed. 24 Post balance sheet events On 1 March 2019 the Group moved its Registered Office from 5 Edwin Avenue, Hoo Farm Industrial Estate, Kidderminster, DY11 7RA (the principal place of business of ChipsAway and Ovenclean) to Ashwood Court, Tytherington Business Park, Macclesfield, SK10 2XF (the principal place of business of Metro Rod). NOTES FORMING PART OF THE FINANCIAL STATEMENTS continued For year ended 31 December 2018