The way ahead? - Vodafone
The way ahead? - Vodafone
The way ahead? - Vodafone
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Overview<br />
Business<br />
review Performance Governance Financials<br />
18. Trade and other payables<br />
Additional<br />
information<br />
Our trade and other payables mainly consist of amounts we owe to our suppliers that have been invoiced<br />
or are accrued. <strong>The</strong>y also include taxes and social security amounts due in relation to our role as an employer.<br />
Derivative financial instruments with a negative market value are reported within this note.<br />
2013 2012<br />
£m £m<br />
Included within non-current liabilities:<br />
Other payables 191 193<br />
Accruals and deferred income 321 357<br />
Derivative financial instruments 982 774<br />
1,494 1,324<br />
Included within current liabilities:<br />
Trade payables 4,328 4,526<br />
Amounts owed to associates 19 18<br />
Other taxes and social security payable 1,284 1,075<br />
Other payables 512 541<br />
Accruals and deferred income 9,933 8,961<br />
Derivative financial instruments 122 115<br />
16,198 15,236<br />
<strong>The</strong> carrying amounts of trade and other payables approximate their fair value. <strong>The</strong> fair values of the derivative financial instruments are calculated<br />
by discounting the future cash flows to net present values using appropriate market interest and foreign currency rates prevailing at 31 March.<br />
2013 2012<br />
£m £m<br />
Included within “Derivative financial instruments”:<br />
Fair value through the income statement (held for trading):<br />
Interest rate swaps 1,016 800<br />
Foreign exchange swaps 44 89<br />
1,060 889<br />
Fair value hedges:<br />
Interest rate swaps 44 –<br />
1,104 889<br />
119<br />
<strong>Vodafone</strong> Group Plc<br />
Annual Report 2013