Note 11: Payables
| Actual 2014/15 $000 | Actual 2013/14 $000 | |
|---|---|---|
| Payables under exchange transactions | ||
| Creditors | 1,826 | 1,442 |
| Income in advance | 2,921 | 2,073 |
| Accrued expenses | 367 | 525 |
| Total payables under exchange transactions | 5,114 | 4,040 |
| Payables under non-exchange transactions | ||
| GST payable | 796 | 648 |
| Total payables under non-exchange transactions | 796 | 648 |
| Total payables | 5,910 | 4,688 |
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.