2017
£m
2016
£m
Minimum lease payments under operating leases recognised as an expense0.30.3

At the balance sheet date, the Company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2017
£m
2016
£m
Within one year0.20.4
In the second to fifth years inclusive0.10.3
0.30.7

Operating lease payments represent rentals payable by the Company for its land and buildings and motor vehicles.