Note 11: Creditors and other payables
Annual Report 2010/11.
| Actual 2010 $000 |
Actual 2011 $000 |
|
|---|---|---|
| 1,156 | Creditors | 1,932 |
| 2,207 | Income in advance | 2,154 |
| 597 | Accrued expenses | 430 |
| 431 | GST payable | 531 |
| 4,391 | Total creditors and other payables | 5,047 |
Creditors and other payables are non-interest-bearing, and are normally settled on 30-day terms. The carrying value of creditors and other payables therefore approximates their fair value.