Year ended 31 July 2006
23. Trade and other payables
| Current | 2006
£m |
2005
£m |
|---|---|---|
| Amounts falling due within one year: | ||
| Trade payables | 1,504 | 1,273 |
| Bills of exchange payable | 188 | 194 |
| Other tax and social security | 142 | 102 |
| Other payables | 148 | 80 |
| Share based payment liabilities | – | 12 |
| Accruals | 305 | 280 |
| Deferred income | 7 | 2 |
| Total trade and other payables | 2,294 | 1,943 |
| Non-current | ||
|---|---|---|
| Other payables | 25 | 18 |
The fair value of other payables falling due after more than one year is estimated at £21 million (2005: £15 million), by discounting the anticipated cash flows at a money market rate of appropriate maturity. The fair value of other amounts included in trade and other payables approximates to book value.
