Menu Links
23 Trade and other liabilities
| All figures in £ millions | 2006 | 2005 |
|---|---|---|
| Trade payables | 343 | 348 |
| Social security and other taxes | 18 | 21 |
| Accruals | 345 | 363 |
| Deferred income | 276 | 237 |
| Other liabilities | 178 | 156 |
| 1,160 | 1,125 | |
| Less: non-current portion | ||
| Accruals | 24 | 15 |
| Deferred income | 47 | 51 |
| Other liabilities | 91 | 85 |
| 162 | 151 | |
| Current portion | 998 | 974 |
The carrying value of the Group's trade and other liabilities approximates their fair value.
The deferred income balances comprise:
- multi-year obligations to deliver workbooks to adoption customers in school businesses;
- advance payments in contracting businesses;
- subscription income in school, newspaper and market pricing businesses; and
- advertising income relating to future publishing days in newspaper businesses.