IE Domain Registry Annual Report 2019

IE Domain Registry  Annual Report & Review  2019 60 Financial Statements 13. Guarantee Parent Company Guarantee On 18 December 2006, the company’s subsidiary IENUM Limited signed an agreement with the Commission for Communications Regulation (ComReg) to provide the national ENUM registry service for Ireland. At 31 December 2019, the company is the sole Guarantor of the obligations of its subsidiary IENUM Limited. 14. Commitments Operating lease commitments Total future minimum lease payments under non-cancellable operating leases are calculated at €36,510 (2018 – €182,551), payable as follows: Premises Premises 2019 2018 € € Within one year 36,510 146,041 Between two and five years – 36,510 More than five years – – 36,510 182,551 Capital commitments The company has no capital commitments at 31 December 2019 (2018 – €Nil). 15. Analysis of changes in cash at bank Opening balance Cash flow Closing balance € € € Current accounts 3,503 16,022 19,525 Deposit accounts 2,729,999 403,700 3,133,699 Cash at bank 2,733,502 419,722 3,153,224 Notes to the Financial Statements (continued)