Financial Statements
15Creditors
| 2009 £m |
2008 £m |
|
|---|---|---|
| Trade creditors | 129 | 90 |
| Amounts owed to joint ventures | 33 | 29 |
| Corporation tax | 40 | 25 |
| Other taxation and social security | 11 | 13 |
| Accruals and deferred income | 202 | 262 |
| Interest rate derivatives1 | 109 | 31 |
| 524 | 450 |
1 Includes contracted cash flow with a maturity greater than one year at fair value.
Trade and other debtors are shown after deducting a provision for bad and doubtful debts of £6m (2008: £9m). The charge to the income statement was £3m (2008: £4m).
The directors consider that the carrying amount of trade and other debtors approximates their fair value. There is no concentration of credit risk with respect to trade debtors as the Group has a large number of customers, who are paying their rental in advance.
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. As at 31 March, trade and other debtors outside their payment terms yet not provided for are as follows:
| Outside credit terms but not impaired | ||||||
|---|---|---|---|---|---|---|
| Total £m |
Within credit terms £m |
0-1 month £m |
1-2 months £m |
More than 2 months £m |
||
| 2009 | 103 | 80 | 18 | 1 | 4 | |
| 2008 | 101 | 73 | 19 | 4 | 5 | |