Financial Statements
15 Creditors
| 2007 £m |
2006 |
|
|---|---|---|
| Trade creditors | 85 | 67 |
| Amounts owed to joint ventures | 32 | 26 |
| Corporation tax | 283 | |
| Other taxation and social security | 15 | 7 |
| Accruals and deferred income | 312 | 269 |
| Interest rate derivatives* | 19 | 48 |
| 746 | 417 |
* Includes contracted cash flow with a maturity greater than one year at fair value.
Trade payables are interest free and have settlement dates within one year. The directors consider that the carrying amount of trade and other payables approximates their fair value.