National Express Annual Reports and Accounts 2011

Annual Report and Accounts 2011

Note 24

Current liabilities – trade and other payables

2011
£m
2010
£m
Trade payables 168.6 175.3
Amounts owed to associates and joint ventures (note 36) 1.0 1.1
Amounts owed to other related parties (note 36) 0.7 0.7
Other tax and social security payable 17.2 36.0
Accruals and deferred income 182.8 171.1
Other payables 96.1 86.4
466.4 470.6

Trade payables are non-interest bearing and are normally settled on 30 day terms and other payables are non-interest bearing and have an average term of two months. Included within other payables are deferred fixed asset grants from government or other public bodies of £2.6m (2010: £2.3m).

Accrued interest on bonds of £30.4m was presented in other payables in the 2010 financial accounts. In 2011, this has been included within bonds – accrued interest, shown in note 28.