Note 11: Creditors and other payables
Annual Report for the year ended 30 June 2008.
| Actual | Actual | |
|---|---|---|
| 2007 | 2008 | |
| $000 | $000 | |
| 2,372 | Creditors | 1,847 |
| 2,281 | Income in advance | 1,873 |
| 101 | Accrued expenses | 123 |
| 254 | GST payable | 436 |
| 5,008 | Total creditors and other payables | 4,279 |
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.
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