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.