Notes to the accounts
for the year ended 31 December 2007
25. Trade and other payables
| 2007 | 2006 | |||||
|---|---|---|---|---|---|---|
| Current £mn |
Non-current £mn |
Total £mn |
Current £mn |
Non-current £mn |
Total £mn |
|
| Financial liabilities at amortised cost: | ||||||
| Settlement accounts | 128.9 | - | 128.9 | 93.1 | - | 93.1 |
| Trade creditors | 23.3 | - | 23.3 | 14.8 | - | 14.8 |
| Social security | 19.7 | 16.9 | 36.6 | 17.7 | 9.8 | 27.5 |
| Accruals | 238.1 | 30.0 | 268.1 | 162.2 | 20.9 | 183.1 |
| Other liabilities | 14.9 | 28.1 | 43.0 | 16.3 | 11.6 | 27.9 |
| 424.9 | 75.0 | 499.9 | 304.1 | 42.3 | 346.4 | |
| Non-financial instruments: | ||||||
| Deferred income | 9.4 | 13.0 | 22.4 | 11.7 | 16.6 | 28.3 |
| Other liabilities | 16.0 | 1.0 | 17.0 | 5.8 | 14.2 | 20.0 |
| Retirement benefit obligations | - | 4.5 | 4.5 | - | 3.1 | 3.1 |
| Non-equity minority interests (see note 34) | 23.8 | - | 23.8 | 1.2 | - | 1.2 |
| 474.1 | 93.5 | 567.6 | 322.8 | 76.2 | 399.0 | |
The carrying amount of the financial liabilities at amortised cost approximates their fair value.
Non-equity minority interests arise where non-current assets previously classified as being held for sale (see note 21) are consolidated. When this occurs, the Group acquires a liability in respect of minority interests in the funds of which the Group has control. Such minority interests are distinguished from equity minority interests in that the Group does not hold an equity stake in such funds.
The Group's financial liabilities at amortised cost are expected to mature in the following time periods:
| 2007 £mn |
2006 £mn |
||
|---|---|---|---|
| Less than 1 year | 424.9 | 304.1 | |
| 1 - 2 years | 35.2 | 15.9 | |
| 2 - 3 years | 30.1 | 15.8 | |
| 3 - 4 years | 1.4 | 2.6 | |
| 4 - 5 years | 2.0 | 2.5 | |
| More than 5 years | 6.3 | 5.5 | |
| 75.0 | 42.3 | ||
| 499.9 | 346.4 |